Li Selling Techniques

LIFE INSURANCE SELLING TECHNIQUES - GIRISH TIWASKAR

THE SALES MODEL 7. LEAD GENERATION 6. CLOSE THE SALE 4. FACT FINDING NEEDS ANALYSIS 5. RECOMMENDING SOLUTION 3. APPROACH - MAKE THE APPOINTMENT -OPEN THE SALE OBJECTION HANDLING 2. PROSPECTING 1.SUSPECTING

STEP 1-SUSPECTING The process starts by creating a suspect list, such as the Market Identification Guide or the “Project 100” The “Suspecting” step is the stage where you need to put down a list of names who could be “potential prospects” for you. Prospects, to whom, you can sell “Solutions” to.

STEP 2- PROSPECTING Continual awareness of potential customers Conscious, directed activity Seeking Observing Identifying and Qualifying prospects Finding new people to talk to, and ensure they BUY! Life-blood of insurance sales

PROCESS OF QUALIFYING PROSPECTS B Business address A Age R Residential address M Marital status A Avocation or hobby I Income D Dependants (Facts required for evaluating; creating the picture of the client) S Seen A Afford N Need I Insurable (Actual process of evaluating the prospect)

PRE-REQUISITES OF PROSPECTING Knowledge about the prospect’s BARMAID & QUALIFYING the prospect through SANI In addition, it is even better if you know about the prospect’s: S - Social Status I - Interests, likes and dislikes P - Personality, lifestyle & attitude.

PROSPECTING POINTERS Focus on quality of the prospect Quality must be coupled with a good quantity Consistency i.e. maintain a steady flow of prospects Begin NOW Make a prospecting plan Obtain names Evaluate Qualify Proceed further

HINDRANCES TO PROSPECTING Approach fear Lack of knowledge / skill therefore lack of confidence Need for approval Fear of rejection Faulty perception of reality Inaccurate evaluation

STEP 3-APPROACH Appointment Wish/greet the other person Prepare what you want to say Seek appointment by providing alternative timings

SALES TALK Designed to: Quick brief about self and company Reason for visiting him Must give a positive impression Use “WE” rather than “I” Keep a friendly and relaxed atmosphere When is it said Why is it said How is it said What should be said

THE ART OF EFFECTIVE FACT FINDING Attitude plays an important role.. Learn to connect emotionally Play the role of an ally in determining his needs Keep in mind that people buy to satisfy their needs, not your needs Build trust and confidence Do not interrupt

QUESTIONS Encourage the prospect to talk Keep the prospect interested ...but above all Your Questions help uncover and develop the prospect’s needs

BENEFITS How a product can be used A cost advantage of a feature Show how you can help the prospect Show the value of your solution How a feature meets a need A benefit has to appeal to the needs of the prospect

FEATURES, ADVANTAGES & BENEFITS

RELATIONSHIP TO SUCCESS How a product or feature can be used or can help the prospect seller’s behaviour - only moderately related to persuasion success How a product, feature or advantage meets an Explicit Need expressed by the prospect seller’s behaviour - very strongly related to persuasion success

SHIFT IN CONSCIOUSNESS..THE FIRST STEP! You Product Company Concept of Life Insurance

HOW DO YOU SELL “THE CONCEPT OF LIFE INSURANCE” ?

THE 9 SALES CONCEPTS ARE... Human Life Value – Dying Too Soon Children’s Education and Marriage Hedge against Liabilities – Covering your loans Happy family project Retirement Solutions – Living Too Long Wealth Creation Taxation – Saving through Insurance 4000% Returns Cost of Responsibility and Love Don’t all the above encompass an individual’s life in its entirety?

WHY LIFE INSURANCE? Life insurance is the only instrument that takes care of all these 3 probabilities and 2 priorities. Jeene ki azaadi Living too long Dying too soon Living death Children’s education & marriage Wealth creation

DYING TOO SOON Everyone KNOWS about it No one FEELS about it Today’s stressful and hectic life style enhances its uncertainty Only 3 out of 4 people reach the age of 60* Your family needs your income to maintain the same life-style Don’t you want them to be happy, not only as long as YOU live, but as long as THEY live ?

Only 3 out of 10 people enjoy retirement , the others have to suffer it . Don’t you want to be financially independent even after you stop working? Look at decreasing rupee value and increasing cost of living continuously falling interest rates rising medical costs Don’t you need a continued income till the last day? Living Too Long LIVING TOO LONG

6 out of 10 suffer from a life –threatening illness before they reach 60 * Critical illness or disability can shatter your dreams for your loved–ones Not only you suffer, but you also have to watch your family suffer When the unfortunate event occurs, your income should not stop Living Death CRITICAL ILLNESS AND DISABILITY

Who knows better than you that education and marriage require a lot of money? There are certain times in your life when you would want your love to be available to your child in the form of hard cash This is one area where you just won’t like to compromise , isn’t it ? You are the source of your children's happiness–protect it ! Your Children’s Bright Future BEING A GOOD PARENT

Don’t you want: A house of your own? A comfortable bank balance ? All of life’s comforts, be it a car or a vacation? Assets and Wealth Creation WEALTH CREATION

CLIENT LIFE CYCLE Steady Promotions Promotion Promotion Promotion Promotion Semi-retired Retired Marriage First child Second child Loosen the belt 1st child to work 2nd child to work Home loan repaid Medical costs Spouse dies

SURPLUS AVAILABLE FOR INVESTMENT Life cover Education Retirement

NEEDS MET BY PRODUCTS time PURE RISK ENDOWMENT RETIREMENT ANNUITY First child Promotion Semi-retired Retirement Death Wealth Maintenance Wealth Release Wealth Accumulation Protection

THANK YOU………. - GIRISH TIWASKAR

Li Selling Techniques

More Related Content

What's hot

Similar to Li Selling Techniques

Recently uploaded

Li Selling Techniques

Editor's Notes