Insurance Sales – How to Overcome the Top Three Objections

The good news is that insurance sales, like any other sales, are subject to the same set of objections. Your prospects will likely continue to raise the same objections day after day when you present your products and/or services. These include “I’m happy working with the people I currently work with” and “Why should I change what I already have?” etc. This gives you a distinct advantage, especially if you have prepared in advance for objections and practiced your responses to make them sound natural, convincing, and easy.

Here are three responses to some of the most common objections that you might encounter when closing on insurance products. Take the time to modify them to suit your selling style or services, but once you’re done, the important thing is to use them.

You can also sell insurance if you are a seller of other products. Do you hear the phrase “I’m happy working with whom I am now” or “Why should i change?”? When closing on products or services

Objections are just that: objections. Clients and prospects have used the same products for years to get ahead of 80% of your competition. These rebuttals will help you get past your competition and present your products or services.

These rebuttals can be adaptable, used and made more effective.

Objection #1: I’m happy with the people with whom I work now.

“I am glad that you heard that _______. I am not here to interfere with the relationship between you and your broker. I am only interested in ensuring you have the best vehicles that fit your needs. The problem with insurance is that most people forget to take care of it. The problem is that people change their lives, circumstances and responsibilities and insurance coverage can be neglected.

Let me ask: When was it the last time someone looked at your current coverage and compared it with what’s available today based on your current life situation? Here’s what I can do for you: I will compare your current coverage with your needs and tell you if you have the best coverage. If I have a better vehicle for a lower rate and it makes sense, you can then decide what you want to do. You’ll win in any way. Is that fair enough?

Objection #2: It won’t happen for me

“__________. When was the last time your car was totaled? (usually never). You still have insurance for this loss, don’t you? That’s the beauty of insurance. We buy it in advance to be covered in case something happens to us that we can’t afford. We are grateful if we don’t use it. If we do have to, we are thankful. Insurance gives us protection and peace-of-mind.

Now, _________. If (the situation you are insuring now) does occur, how happy will you be to have coverage? (Probe here – How would it affect your wife? What time would she have with the children, etc.?

The little premium that you pay now will provide you and your family (or company) with a lot of security and comfort. You know that it is the right thing to do. Let me ask you this question: What type of (monthly/quarterly] payments are you trying keep within? Perhaps I can adjust your policy length or term to make this work …”

Objection #3: “Why should I change what I already have?”

“I don’t think you should change. It may not make sense to you to change. That’s why I need some help for you.

Most brokers will write an insurance policy for clients, then move on to the next sale. They don’t take the time to continue to assess clients’ changing needs and match them with newer vehicles that will provide better coverage, if not for less.

That’s exactly what I am here to do today. Let’s get started. I will take a look at your current coverage and compare it with what you need today. I will then look at what you have and let you know if I find a better match for you. If there isn’t, I’ll let my clients know. You decide what is best for you. Is that fair?