Are you new to selling final expense insurance? If you’re struggling, your sales performance may not be to blame. Providing funeral costs, replacing lost income, and other final expenses are the three lowest concerns among consumers signing up for life insurance. Unfortunately, this is what final expense insurance covers.
This doesn’t mean you have to face rejection after rejection. The goal is to communicate final expense insurance with prospects and why it’s important. You can easily do this with an effective final expense sales script.
Here’s how to create a sales script to use in-person, on the phone, and online.
Why Should You Use a Sales Script?
First, let’s provide an answer to a question you’re likely asking yourself. Why should you even have a sales script in the first place?
Sales scripts can keep you focused during the sales process. You’ll always stay on point and will cover essential information without being too wordy. This will increase your confidence and will ensure you come off as trustworthy.
In addition, a sales script will keep you organized. Final expense life insurance is complex. It’s easy to talk too much and bombard your prospect with too many details. A script will prevent any distractions on your end while not confusing your customers.
How do you stay organized? In addition to a script, create a cheat sheet. This can include essential facts on final expense insurance, recent research, common FAQs that prospects ask, and why customers may benefit from final expense insurance.
As you continue your career, you’ll likely find a winning script that locks in prospects every time. This will ease the sales process for you while converting leads.
On the Phone
Selling final expense insurance over the phone is often the first step in the sales process. While making cold calls isn’t always easy, you’ll easily reach your target market via phone over other options.
Here are the core things to say and establish in your script.
All sales scripts start with a great introduction. While you’ll need to exercise transparency, stating who you are and why you’re calling, you can take your introduction up a notch with a proper greeting.
Instead of simply saying, “Hi I’m Bob with Johnson Insurance Agency,” approach the prospect by name and leave the conversation open. This is a great example.
“Hi Linda, this is Bob with Johnson Insurance Agency. Do you have a second to talk?”
This way, you’re more approachable while leaving the conversation open. Introducing yourself and the company also exercises transparency so the prospect knows who they’re talking to.
Build the Relationship
Let’s say the customer agrees to talk. Your final expense phone sales script shouldn’t simply promote your insurance offer. Do what you can to build your working relationship. The best way to do this is by asking them a few simple questions.
The two most basic questions to ask are if they have a family and if they still work. You can also try to appear personal, as well, making you seem more human as opposed to robot-like.
This response is just an example of if they had kids and how you could respond:
“That’s lovely to hear you have kids. So do I! But I’m really struggling to help them during virtual school…Oh your children are grown up and on their own? Lucky you!”
This conversation prompt not only helps the client relate to you but will also relax them. They will seem like they’re having a pleasant conversation as opposed to a sales offer. Plus, you’re learning essential information about the prospect that will help you introduce the product.
However, you still don’t want to force the insurance on them. The next step is proving you’re reliable and trustworthy.
Trust and Credibility
Trust and credibility aim to continue the conversation without being too sales-y. Going back to the previous prompt, let’s say the client said they’re retired and have older children. Instead of going to the sale, ask them more open-ended questions.
Here is a good example:
“That’s lovely to hear your children have flourishing careers and you’re living out your golden years stress-free! Just out of curiosity, do you have a plan for your family after you pass?” If the client says no, explain the basics of final expense insurance.
This way, you’re educating the customer while having a simple conversation. You’re explaining your knowledge of the product, proving you’re a credible source. Since you’re not creating a high-pressure sales environment, the client will have more trust in you.
Keep in mind, that talking about death and funeral expenses is never easy. Be understanding if your prospect is uncomfortable.
The Application Process
Let’s say you explain final expense insurance and the prospect seems more interested. You can open up the application. Unlike the other steps, this script has to be more direct. You have the client in your hands, you just have to present them with the best opportunity.
This is a good example:
“Well, I don’t want to keep you on the phone all day. But if you’re interested in final expense insurance, I can just ask a few simple questions to get your application started.”
This script cuts to the chase and also doesn’t provide pressure. All the prospect has to do is answer some questions and continue on with their day.
Closing the Sale
After you begin their application, you can officially close the sale.
While you’ll want to end the conversation, you should exercise transparency and inform them of the next steps. This will vary between every company; it’s important to know the ins and outs of your workplace’s insurance sign-up steps so your final expense leads can stay happy.
Selling over email can be difficult if you’re not sure what you’re doing.
For starters, most of your prospects are senior citizens. That’s why you will be using phone calls more than email.
In addition, you don’t want to send out a mass email to your prospects. Focus on building a relationship with each individual prospect. The main reason why sales professionals have better luck via phone is that they can easily create a relationship with prospects over the phone rather than by email.
However, don’t discredit selling final expense insurance via email. You can be personal over email and this creates a more relaxing environment for the prospect.
In order to target your prospects via email, you’ll need some in-depth marketing research. From here, you can tailor a campaign that fits your audience.
Instead of having a conversation, focus on personalizing the experience and crafting well-written sales emails. There’s also a chance that leads won’t buy right away via email. Continue keeping them in the sales funnel with regular educational emails as well as sales offers (if applicable).
Because of the COVID-19 pandemic, you likely won’t be scheduling insurance meetings in person. But there’s still a chance your prospects will want to talk face-to-face. Oftentimes, the application process will lead to a formal meeting to finalize the process.
During the in-person meeting, you’ll want to be as friendly as possible but still persistent. Understand you have an opportunity right in front of you (literally), so you don’t want to stray from the path. Stick to the script detailed in the phone section. Just change out a few spots that, that talk about the phone in the script.
You should also understand possible hesitations. For example, your prospects may not feel comfortable signing contracts or giving out their information. Don’t try too hard — if they’re not comfortable, be respectful about their hesitations.
There’s also a chance you’re scheduling an in-person appointment during the sales call or email. If so, you’ll have to introduce this meeting in the most concise way.
Start by explaining you’ll have to attend a brief meeting to finalize the contract. If you can, be specific about how long it will take and what will happen during the meeting.
From here, ask questions to ensure you’re working with their schedule. Immediately ask if they prefer mornings or afternoons and which days of the week will satisfy this.
From here, find an opening in the schedule that corresponds to their preferences and offer that day/time. You may have to do this step a couple of times to find the best appointment for them.
Additional Tips to Know
While this script will help you land more sales, there’s a chance you’ll still be stuck or will get a difficult prospect. In this case, here are additional tips to remember.
- Focus on local leads
- Talk slowly and clearly
- Use technology to ease the process
- Always stay confident
- Use imaginative language to engage your prospects
- Explain in detail but don’t overdo it
While you may not need these tips for every prospect, you should add these tips to your script or outline and reference them when necessary.
Do You Need More Help With Your Final Expense Sales Script?
There may be a chance when a final expense sales script isn’t enough. In this situation, you should seek help to convert more leads.
We offer a self-paced training program that offers you all of the essential tools and knowledge to sell final expense insurance. Sign up for a training program today!