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How to Handle Common Insurance Sales Objections

You gain a big advantage when you prepare in advance and practice handling the most common insurance sales objections.

The good news about insurance sales – like all other sales – is that the set of objections and put offs you face is essentially the same.  In other words, your prospects have been using the same old objections for years. They say things like, “I’m happy with who I work with now” or “Why change what I have already?” without even thinking about it.

Because of this, you have a distinct advantage, when to take time to prepare in advance for these sales objections and practice your responses so they sound easy, natural and convincing.

SBLI has recently published a guide on Final Expense Whole Life Insurance and you could definitely use it as a power sales weapon when selling the insurances.

 

Rebutting the Three Insurance Sales Objections You Face the Most

When selling insurance there are three sales objections that face when engaging prospects and customers. I’ve crafted three rebuttals to these insurance sales objections below.

Since each situation is unique, take the time to reword or rework them to fit your specific insurance product line, customer base, or selling style. Then practice, practice, practice.

Insurance Sales Objection #1: “I’m happy with who I work with now”

“I’m glad to hear that __________, and I’m not here to come between the relationship you have with your current broker.  Instead, I’m only interested in making sure you have access to the best new vehicles to fit where you are in your life now.  You see, the issue with most insurance is that people tend to buy it and forget about it.  And the problem with that is that life, situations and responsibilities change and in most cases the insurance coverage gets neglected.

Let me ask you this:  When was the last time you had someone look at your existing coverage and compare it to what’s now available based on where you are in your life today?  Well, here’s what I’m prepared to do for you – I’ll compare your current coverage and your current needs with what’s available today, and if you have the best coverage at the best rates, then I’ll tell you so.  And if I have a better vehicle at a better rate, and it makes sense to you, then you can decide what to do.  Either way you’ll win.  Is that fair enough?”

Insurance Sales Objection #2: “It won’t happen to me”

“__________, when was the last time you totaled your car?  (usually never).  But you still have it insured for that loss, don’t you?  You see, that’s the thing about insurance – we buy it to protect us in advance in case something happens that we couldn’t afford to cover.  If we never use it, we’re grateful, and if we have to use it, we’re thankful.  Either way, insurance gives us both protection and peace of mind.

Now _________, if (the situation that you’re insuring for now) did happen, how happy are you going to be that you have coverage for it?  (probe here – “How would that affect your wife?  What would that give her in terms of time with the kids, etc?”)

_________ the little bit of premium you pay now provides you and your family (or business)  with a great deal of comfort and security.  It’s the right thing to do and I think you know it.  Let me ask you this: What kind of (monthly/quarterly) payments are you trying to stay within – perhaps I can adjust your policy or length of term to make this work for you.”

Insurance Sales Objection #3: “Why change what I have?”

“I’m not saying you should change. It may not make sense for you to change. That’s exactly why I need to do some work to see if I can even help you.

You see _________, most brokers write an insurance policy for their clients and then they’re off to make the next sale.  What they don’t do is what is perhaps the most important part of all – continue to assess their client’s changing needs and match them up with a newer vehicle that would get them more appropriate coverage – perhaps for even less money.

And that’s what I’m here to do for you today.  Let’s do this:  I’ll take a look at what you’ve currently got in terms of coverage and premium, and I’ll compare it to what your needs are today.  I’ll then review what is available to you and if there’s a better fit for you I’ll let you know about it.  If not, then I’ll let you know that as well.  In the end you get to decide what’s best for you.  Is that fair?”

By the way, if you sell something besides insurance, there’s something in here for you, too.  How often do you hear the “I’m happy with who I work with now,” or “Why should I change?” when trying to close on your products or services?

You see, objections are objections are objections.  Prospects and clients have been use them because they make salespeople go away. However, once you start using these rebuttals, you’ll stay in the game and close the sale.


When sales objections turn into sales negotiation, you need to be prepared. We’ve got you covered with our FREE training guide and instant download: The Seven Rules of Sales Negotiation

About the author

Mike Brooks

Mike Brooks

Mike Brooks is the founder of Mr. Inside Sales, a North Carolina based inside…

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