When it comes to selling life insurance, phone calls are the most effective and impactful way of initiating conversations with potential customers. You get that opportunity to build a sense of trust, credibility, and personal connection with the prospect that wouldn’t be possible to achieve through a cold email. Plus, you can immediately address the prospect’s concerns, answer questions, and move them faster through the sales funnel.
But there’s more than just picking up the phone and dialing a number. You need to be prepared, know what to say, how to open a conversation, how to turks and caicos islands email list 150000 contact leads present your sales pitch, and how to handle objections effectively. Life insurance sales scripts serve exactly that purpose, helping you sound professional and confident.
In this blog, we’ll walk you through the best practices for selling life insurance over the phone and provide some ready-made life insurance sales script examples you can get inspiration from to help you improve your sales conversions.
How to Sell Life Insurance Over the Phone: Best Practices
Arm yourself with relevant knowledge
Whether you sell life insurance, auto insurance, mortgage protection insurance, or business insurance – preparation is key. Firstly, you obviously need to know the ins and outs of the life insurance plans you are selling. And secondly, you need to have a solid understanding and background knowledge of your target audience.
Who are your potential customers (demographics, health status, financial situation)?
What are the common characteristics among your target demographic?
What are their major pain points and challenges that your offering solves?
What factors are most important to them when choosing a life insurance company?
What makes your offering unique, and why should they choose you over competitors?
The better you know your products and the more you know about your prospects – the more confident you sound and the better you can tailor your sales pitch. That creates the foundation for more efficient and productive conversations.
Selling life insurance over the phone
Selling life insurance over the phone is all about proactively reaching out to your prospects through cold calls. And this is where the right call center software for insurance industry can make a difference. While dialing numbers from your calling list manually and waiting for the calls to connect might be tedious and extremely time-consuming, you can optimize this process with an auto dialing solution.
For example, Voice Spin’s AI dialer software for call centers automatically dials through the list of numbers and skips busy signals, disconnected numbers, and answering machines, connecting agents only to the calls answered by prospects. That can save your insurance agents a great deal of time and effort, helping you improve the efficiency of your outbound calling campaigns and close more deals.
Create well-thought-out life insurance scripts
With well-crafted insurance scripts, agents can confidently navigate through conversations, effectively communicate their message, and ensure that no important information gets overlooked. Scripts also guide agents on how to address common concerns and objections prospects might have. What’s also important, with ready-made scripts, you can easily maintain consistency across all your conversations. Here are the key points your life insurance sales script should include:
Opening statement (This is where you greet the prospect and briefly introduce yourself and your insurance company).
Purpose of your call (This is where you explain the purpose of the call to the prospect, preferably in one short sentence).
Needs assessment (This is where you ask open-ended questions and show genuine interest in getting to know more about your prospect’s needs, pain points, challenges, etc.).
Product introduction (This is where you finally introduce your personalized sales pitch based on what you’ve learned about your prospect and their needs).
Closing and CTA (This is where you set clear expectations regarding the next steps to keep the conversation going).
Personalize your sales pitch
Whatever you are selling – a SaaS product or life insurance – personalization goes a long way in helping you build trust and rapport with prospects and improve conversion rates. Though you may not have detailed data about your prospects when you canada people are cold calling them for the very first time, asking open-ended questions throughout the conversation can help you reveal that critical information and adjust your sales pitch accordingly.
On top of that, personalization helps increase retention when you are dealing with existing customers. According to Accenture, insurers that offer personalized experiences and products that are tailor-made for their customers see an 81% increase in customer retention and an 89% increase in customer engagement.
Objections are inevitable, and you need to be ready to anticipate and handle them professionally. Whether it’s cost concerns, perceived lack of need, misconceptions about coverage, or overall skepticism about insurance companies – agents are introduction to optus overseas data bound to face multiple objections along the way. Including effective responses in your script templates will make life much easier for your reps. Let’s take a look at some common objections agents may encounter in the sales process: