Best Practices for Selling Insurance Across Age Groups

Written by Jessica Adkins

February 7, 2018

Q. How can I sell insurance across age groups? I don’t want to limit myself.

A. It’s essential to keep your opportunities limitless! Sometimes we get stuck in working with the same age group because we are extremely successful. However, there are opportunities within all age groups to be successful!

The first step is to prepare a needs analysis for your customer. (If you need help, we have downloadable versions available for our partnered agents) These analysis’ will help you get a better understanding of what is most important to your client. You can assess their health, financial and family needs. The best part is that this is tangible evidence of the amount of coverage they need. Selling the demonstrated need is easier than recommending products verbally.

Young individuals often show a “need” for their current and future family and financial situations. They forget that they too could have a catastrophic event affect their health and the lifestyle for which they are accustomed. Older individuals are more concerned with their health, retirement planning, and end of life expenses. They need guidance in recommending solutions for financial burdens during the times when their income is limited, and health could be declining.

Always determine your customer’s needs. Without a need, do not proceed – a great motto to follow. When you gather as much information as possible, you can talk to your customer and begin to develop a nurturing relationship, which is another key to a successful sale. Important questions to find answers to during your needs analysis are:

  • With what are they most concerned?
  • How can you best help?
  • What are their plans for the future?
  • Do they want to ensure financial security for their spouse in the event of their death?
  • Do they want to ensure their children/grandchildren’s college expenses are paid?
  • Are they concerned with out-of-pocket expenses that may occur due to declining health?
  • Are they concerned with filling in the gaps of other coverage they have?
  • Would they like to plan to live retirement traveling and are concerned with finances available to do so?

Once you have discovered their needs and wants, you should prepare a solution. Remember – not every family’s solution is a one-size-fits-all. This is another example of why it’s imperative to offer multiple options within your portfolio. Your portfolio should include multiple carrier’s plans for the same plan type, and of course, multiple plan types. Every situation is unique, and by offering only one carrier’s product, or one product type, it is likely you will be unable to fulfill every need of every family you meet.

Now that you had addressed the actual sales process of selling across age groups, it’s time to examine the “personal” aspect. As Gideon Du Plessis, the highest earning insurance agent in the world would say; “People buy people, not policies.” It’s no doubt important to offer a variety of carriers and products to your clients, but what kind of atmosphere and personal presentation are you providing your customers?

You should be dressed professionally. Multiple sales coaches recommend it, and from our own experience, when you dress at the minimum business casual, you’re representing success, and success is trusted. Not only is your appearance important, but your ability to connect. You should try to find something that you have in common with your customers. Do you like the same football team? Do you enjoy the same vacation spots? Establishing the personal connection only leads to more relationship nurturing, which continues to build trust and ultimately gives the customer’s an opportunity to lean on your insight and recommendations. Additionally, once you have been able to gain the trust and close the sale – ask for referrals within the same age group, then start asking for children and/or grandchildren referrals to start expanding into new age groups! It’s a great opportunity for you to continue to grow your business and helps with client persistence.

If you’re looking for more general sales training and coaching, reach out to Agent Pipeline! We are veterans in insurance sales, training and the individual health and Medicare markets. Give us a call at 800-962-4693 for more information.

– Answered by Karen Hendrix, Regional Vice President

Karen Hendrix is a Regional Vice President at Agent Pipeline. She has been with Agent Pipeline for over 15 years and is dedicated to raising the standard for Medicare agent excellence. Karen works in the Iowa, Virginia, Arkansas, North Dakota, South Dakota, Nevada, Nebraska, and Kansas markets. You can contact Karen at karen@agentpipeline.com or by calling her directly at (304)-755-6466.

You May Also Like…