As an insurance agent, you know there is no worse feeling than encountering an objection that could stop you from writing a new policy. Today, we will go over ten ways that you can overcome ten objections that you will more than likely run into at some point in your career as an insurance agent.
- They “aren’t interested.”
If they tell you they aren’t interested, it’s probably early on in the sales process. This can be seen as a knee-jerk reaction, and don’t take it too seriously. How can they be sure they aren’t interested before they know much about what your plans can offer them? You could be able to offer them coverage better suited to their needs at a better price.
Here’s an example of how to handle an objection like this:
“I understand, prospect. That’s fine; many people tell me at first that they aren’t interested. Frequently, clients meet with me anyway and find that I can help them find a better plan to meet their medical and financial needs. All I need is a few minutes of your time to show you what plans we offer, and where it goes from there is all up to you. Can I see you tomorrow at three, or would noon work better?”
Why does this work? It mentions that you have had clients say they aren’t interested and meet with you anyway. This gives them a reason to meet with you, even with their initial hesitation.
Then, you focus on the appointment’s ease and speed and the fact there is no pressure or obligation attached.
Finally, you close with a question that asks for a yes answer like “when can we meet?” – avoid asking yes or no questions like, “Can we meet tomorrow?”
Many processes to resolve objections follow a similar structure but never forget to start by addressing the client appropriately before every rebuttal.
- They want to be mailed information.
You will hear this both on the phone and in-person, and you can handle this the same as the above – let them know you need a few minutes of their time and ask what time works best.
- “I already have…”
You will hear this a lot, another knee-jerk objection. Handle this the same as the previous, ending with
“All I need are five minutes to show you how the products I offer can get you the best value for your budget. Can I see you at 10 or 4?”
- The price is too high.
You might hear this objection near the end – or in the pre-qualifying process of a client.
Tackle this and try to avoid it by learning your client’s budget and finding plans within that price point that provide the value they need. Sometimes when clients complain about the price, it is because the value has not been built to make them feel worth enrolling – your job is to show them that value.
If they still object, here is an example of what to follow:
“I hear this often. You say that you need coverage, and what will cost more at the end of the day? Paying a monthly premium or being burdened by an unexpected out-of-pocket cost that could be avoided with this coverage. Why don’t we start with this plan? Or would you like me to find a plan with a lower quote?”
- They want to think about it.
Clients will often tell you this at the end of a call. This is often given as an excuse so that the client does not have to talk about the real issue. If you’re going to tackle this, you need to get to the root o the issue.
When they say this, ask them what they meant by that. When they answer, reply with something like
“Okay. Beyond this, is there any other reason that you would not want to enroll today? If I can help you solve this, is there anything else stopping you from moving forward?”
Doing this isolates the objection and confirm there are no other issues. Then, you have a confirmation to move forward once you overcome the objection.
- I need to talk to my kids first.
This is another objection similar to the previous – avoiding it is not difficult. You can avoid objections like this by building rapport early on with a client and getting their trust and support before trying to close a sale.
If someone wants to confirm a plan with their kids – this is most commonly seen with seniors – you have not earned their trust. This is a recommendation of what to say next.”
“I understand you want to talk about this with your kids, but you did tell me that you need coverage now. If something happens between now and when you get this sorted out – you or your family will be burdened with high out-of-pocket costs. Most people I talk to want to avoid this, and I assume you feel the same. You do not want to encounter any enormous unexpected financial burdens on you or your children.
Look, prospect. You are a smart enough person to decide on your own – let’s get this sorted out today. We can get you started on a plan today – let’s get you enrolled now.”
- I want to consult my lawyer/accountant first.
You will hear this most often with people who own businesses. The trick is to say that you feel it essential to hear what their lawyer or accountant has to say. Here is an approach to use on clients like this
“Why don’t we do this? I understand that it is vital to talk to your accountant or lawyer to help you make the best decision. For now, I can provide you this proposal.
I cannot guarantee you that you will qualify for this plan until we complete the process. Here’s my proposition – it requires no money from you today. If you decide this isn’t the right decision for you, that is fine. But if you are serious enough about this coverage to consult your lawyer or accountant, you should get qualified first.
We will send you someone to meet with – at no cost to you. We can work with your schedule. So, let’s get that done. Then you will have all of the information you’ll need to get an informed opinion from your lawyer or accountant. How do you feel about moving forward this way?”
- They don’t believe in insurance.
This is a bit more challenging – the best way to handle this is assuming they aren’t sure how insurance works.
Chances are they do have a good reason behind the objection, such as a friend or family member being short-changed by an insurance company in the past.
When you hear something like this – here’s what you should do.
“A lot of people say this. But give me five minutes to show you how my coverage is different and can help you. After that, there is no obligation to enroll – what you do with this information is all up to you. Does 12 or 3 work best for you for a meeting?
- They like it – but don’t want to buy it now.
Some prospects say that they’re interested but not ready to commit. The issue of stress here is the urgency. Most likely, they still aren’t clear on the value or importance of your coverage.
“In reality, no one can predict tomorrow. You do not know what your life or health condition will be in the next day or so – you can assume, but you cannot be sure. Imagine the unexpected costs that you would have to deal with god-forbid something happen tomorrow. Waiting will not fix the problem if you enroll too late. Let’s get this plan ready to start next month, and you will have peace of mind. Are you ready to start enrollment?”
- They don’t like bank drafts.
Many companies require a bank draft – and many clients are not a fan or cannot afford it. Here’s a strategy to deal with that
“Can you pay several months in advance? If you can get the check paid with a quarterly or greater payment, then take it.”
If they cannot, follow with:
“Unfortunately, all of these companies do require bank drafts. And there is, unfortunately, nothing I can do to help with that. Companies no longer send letters out for monthly payments.
But, we can have a payment schedule set up after you get paid. Then, you will only be charged when you have the money; how does that sound? Can we move forward with that?
This concludes our list of how to deal with common insurance objections. If you want more help combatting sales objections, marketing support, or want to get contracted with new products today, contact your Regional Market Manager at Agent Pipeline or call us at 800-962-4693!