There is a hard lesson to learn in disability which took me nearly 20 years to realize, but will take me only two minutes to share. People do not like to be sold, so they need to be led to a decision to buy. Consumers buy to gain a pleasure or avoid a pain, so they need a clear and quick understanding of disability insurance and how it can help them avoid catastrophic pain.
Over the years, I’ve developed a quick and easy sales script to provide a quick understanding of the risk of disability. The script below can and should be shared with everyone.
“I was really curious about something and wanted to ask you a question. Have you ever thought what you would do if you suffered a living death? This is a situation that happens to one out of four people according to the Social Security Administration if you were not aware. What happens is you are alive, you can not work, you can not do the things you enjoy, but the bills keep rolling in. Many people go back to work early because of that and end up becoming permanently disabled as a result. That is why I had to educate you about this today.
Most income protection is bought at a price about 2% or less of one’s annual income to protect the other 98%, which is more than fair. By itself this looks nice, but when I show your maximum benefit you now have a range of possibilities. It is not a ’take it or leave it‘single option, we have the freedom of choice to choose what is right for you. I won’t kid you, disability insurance is expensive, but not nearly as expensive as being disabled without a benefit. Being licensed by the state in this industry, it is my responsibility to educate you on such needs and solutions.”
Nothing shows trust better than ownership so when I place my own policy on the table, all doubts disappear. I simply tell each prospect, “I believe in this so much that I bought a policy on myself.”
At the end of the conversation, I proactively lead the client to buy by saying:
“If you could protect the majority of your annual income using a fraction of your pay, is there any reason you would not want that for you or your family today?” When the prospect responds affirmatively, I ask what monthly premium is comfortable and use the Unit Selling technique to craft a solution that fits the prospect’s budget.
The next time you sell, take a step back and objectively observe your own process. Are you playing offense or defense? Are you leading the prospect to the buying decision, or simply anticipating the next objection? If you can learn to be proactive instead of reactive, it can change your results.