- Sales illustrations are projections based on current assumptions. They're not guarantees. The only promises a life insurance company can make when it sells a product are the contractual guarantees. Death benefits are too important to risk because of misrepresented or misunderstood product performance.
Do this! Always tell the truth. Inform prospects and clients that an illustration's costs and benefit projections can change. They're not guarantees of performance.
- Stress benefits and value, not price. Prospects should look at the bottom line, but not stare at it. You're not selling price; you're selling benefits, and the added value of doing business with you and Ohio National.
The trouble with "I can get it for you cheaper" sales habits of selling product numbers is that, if someone comes in with lower numbers, you've got nowhere to go. Both you and the prospect lose, since what really counts in any purchase is the value of what you get, and the relationship you establish, not necessarily what you pay.
- Match the prospect's ability to pay. Your proposals should reflect the information brought out in the Initial Meeting and in Fact-Finding. Prospects' "Financial Commitments" are just as important as their "needs and wants Commitments." The desire to satisfy needs and wants will not be strong enough to get people to buy unless your recommendations are appropriate and comfortably affordable. Protection that is needed, but which cannot be maintained, is no protection at all.
- Don't oversell. Some people have more needs and wants than wallet. So, take the long view. Address the prospect's most pressing concerns, such as income protection for wage earners, but don't try doing too much. Make a mutual commitment to deal with other issues later.
- Prepare alternate solutions. Be ready to show alternative solutions in case your prospect feels your primary recommendations don't fit his or her situation, or if your proposal is challenged by a competitor.
Try this! Prepare only two alternate solutions. Showing more than that creates confusing choices that can delay the buying decision, erode your credibility, and, possibly result in your losing control of the case.
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Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.
