How to overcome the buyers remorse objection

Once a buying decision is made by a new client, often times they start to second guess their decision. What that really means is that their ideal picture has changed from the benefits they wanted to gain to the loss of money while living on a fixed income.

That's when buyer's remorse begins to set in. It's vital for any life insurance producer to cut off any doubts by addressing this issue in advance for this objection. This can be difficult to accomplish since what we offer is an intangible product, yet it can be done. The intangible product I am referring to is the need for a final expense life insurance plan.

It can be simple to build true value in the clients' minds because of the positive benefits of owning final expense life insurance. Help your potential clients imagine and envision what the solution is to their need or their situation.

Help your new clients, who may not be good at using their imaginations, visualize their "need." You want to assist your clients in "experiencing" the benefits of owning the product by helping them clearly picture the sorrow and then the solution. Here is an example:

Let me ask you, who will be responsible when something happens to you? And when that time comes what is the last thing you want your family to think or worry about? Wouldn't it nice to know that when something does happen to you, all your family will ever have to do is tell the funeral director my mom or my dad have a life insurance plan to pay for their final expenses with ABC insurance company? At that point they will never have to think or worry about how they're going to pay for it. Everything will be taken care of.

Notice that neither example actually mentions the word "money." However, both imply the issue is indeed about money. Guess what your clients are envisioning in these examples? The sorrow of their family during the very worst time of their lives — not on how much the costs are. When the "need" is big enough, the cost no longer matters. Keep your clients focused their need and on what they will gain versus what it will cost.

I know you will close more sales and keep more business on the books.

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