Try this! The way you deal with an objection depends on how you classify it among the four most common types. The key is to remind prospects of the four specific commitments they made to you, and themselves, earlier. Practice these responses or adapt them to your own selling style.
- No Need: "I know how you feel, Heather. I used to feel that way myself, and many of my clients felt the same way at first, too. It would be great if we only bought insurance when we thought we needed it. But, I couldn't help you purchase this protection if I knew you weren't going to be here tomorrow, any more than you could buy homeowners' insurance if your house caught fire.
"Do you see what I mean?"
(Wait for a response. Then say...)
"You've told me how you and Jim feel about your children's future, and the responsibility you have to protect your lifestyle, no matter what. The risks are very real. You've agreed that this is an excellent way to address them. And you've committed the necessary financial resources. Is there any real reason not to put this plan into effect today?"
- No Confidence: "I can appreciate that. Many people feel they should shop before buying. I'm even pretty sure you can find lower rates. But I'm not selling price, Barry, and you're not just buying low premiums. What we're talking about is value. The value of your plan's benefits in meeting your financial concerns, the value of doing business with a financially strong company like ours, and the value of working with me. As you told me earlier, those are all very important issues to you. Am I right?"
(Wait for a response. Then say...)
"You do not strike me as the kind of person who is willing to trade dollars for value.
(Then say...)
"You want value in what you pay for, and no one should take a risk when it comes to life or disability insurance protection. Don't you agree? Let's put your plan into action now."
- No Money: "If we could solve that problem, is there any other reason why you would not want to go ahead with this plan? (No.) I hear you and realize the way you feel. And believe me, many people are in the exact same situation. Because your financial objectives are so important to you both, let's find a way to put the protection in force today. If cost is standing in the way, for instance, maybe we should start with a lower premium, or we could look at buying less protection."
- No Hurry: "Yes, I understand what you're saying. Many people say they want to wait. But waiting can be costly. Not only does insurance cost more every year, if something happens to you, you may not be able to buy it at all — to say nothing of the risk of dying too soon or becoming disabled!
"Have you ever really seen insurance in action?
"Do you know of people who died at an early age, or lost their ability to earn income through a disability? It may not happen to you. But is that a risk you really want your children to take?
"It's going to take a few weeks to consider your application. Why not make your decision while the company makes theirs?"
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