January 14, 2022 Last updated January 19th, 2022 5,284 Reads share

How to Increase Sales on Life Insurance

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As insurance agents, we all know that life insurance is one of the more complicated product lines to sell. It isn’t like selling a car or even a new set of golf clubs where the consumer already has some sort of knowledge and interest in those items.  

Insurance requires deep pockets, essentially your pockets. The person you are trying to sell to doesn’t want to part with their money, even if it is for a good reason. That being said, the wise salesman realizes that this isn’t going to be an easy sale and it is going to take some time and effort on your part as well as theirs. In order to make sure you are making the most of those efforts, it is important to be able to answer the question, “How do I increase sales on life insurance?”

You need to know what you are doing when it comes to selling life insurance; otherwise you will not make any money. There are a few steps that can help you increase your chances of making this sale and in turn increasing revenue for your agency.

 

Appeal to Prospective Clients’ Emotions 

When selling a life insurance policy, agents should appeal to their client’s emotions. It could mean stressing the importance of security for loved ones or emphasizing how the policy can provide peace of mind during difficult times. Many people make emotional decisions, so appealing to prospective clients’ emotions can increase life insurance sales effectively.

No matter how much a prospective client knows about your product, it would help if you showed them that the policy would benefit their lives in some tangible way. Providing prospects with information alone won’t cause them to buy—they have to feel that they’ll get something significant from it.

Stress the Importance of Coverage 

Many people only buy life insurance once they have children. But this is a mistake, as it’s essential to have coverage in place before something unexpected happens. Stressing the importance of life insurance to all clients can go a long way in increasing sales.

Agents should always be prepared to answer the question, “Why do I need life insurance?” It’s a complex topic, but agents should break it down into simple terms that their clients understand. Prospective clients are much more likely to buy a policy if they feel as though it’s necessary.

Take a Proactive Approach  

If you want to increase your life insurance sales, it’s essential to take a proactive approach. Agents should know what their clients are looking for in terms of coverage and benefits before they even reach out to them. It can make the process much smoother once you do start contacting prospects. 

It also helps if agents understand why certain prospective clients might be reluctant about buying—this knowledge could help convince potential customers that this is a good decision. Proactive selling doesn’t mean being pushy or aggressive. It simply means being prepared and taking the time to understand what each client wants and needs.

Prioritize Trust 

Trust is essential when it comes to selling life insurance. It’s the foundation of any relationship, and clients need to trust their agents for sales to occur. Making sure your prospects know you’re trustworthy can help increase sales—if they don’t feel like they can count on you or believe that integrity matters, they’ll be less likely to buy from you.

It doesn’t mean being dishonest; instead, focus on building long-term relationships with your clients so that trust develops naturally over time.

Put Your Prospects at Ease  

Prospective clients may be hesitant about buying because something has made them unsure or uncomfortable– perhaps an agent approached them during a difficult time or tried to sell them a policy without fully explaining the benefits. One way to put your clients at ease is by tailoring sales pitches to their situation and making sure that you’re sensitive to any potential issues they might be facing.

It means listening carefully and asking open-ended questions to get a better sense of what’s going on in your clients’ lives—you need this information if you want to make an impact with your pitch. You also have more time for follow-up, giving you another opportunity to persuade prospects to buy from them.

Take Advantage of Technology    

In today’s society, it seems as though everyone has some kind of technology device nearby all day long– whether it’s their phone, laptop, or tablet. It gives agents a unique opportunity to use technology to their advantage when selling life insurance policies.

There are many different ways to do this, such as using social media platforms like Twitter and LinkedIn to connect with potential clients or creating videos explaining life insurance benefits. Utilizing technology in your sales strategy can help you stand out from the competition and show prospects that you’re innovative and up-to-date with the latest trends.

Also, you can work with a third-party lead generation provider like Nectar Marketplace to acquire real-time insurance leads who want what you have to offer. Doing so will guarantee that you connect with the right leads. 

Stay up-to-Date on Industry Changes

Agents need to stay up-to-date on industry changes to understand better how these changes might impact their clients. For example, if there are new regulations about life insurance, this could make buying unnecessary for some people. 

By staying up-to-date on the industry, you can ensure that your clients are aware of these changes and will continue to see a need in their lives for coverage from your company.

 

Final Words

While life insurance may seem like an obvious choice to many agents, there are still plenty who have trouble selling it, especially when dealing with prospects who aren’t sure about needing or wanting coverage in the first place. If you want to increase sales, focus on making life insurance feel more important than it already is. 

There’s no need to spell out every reason why someone should buy right now (your potential customers already know what they’re buying), but you can highlight a few key points to show how beneficial the policy will be.

Tiffany Wagner

Tiffany Wagner

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