In-Home Presentation 1. Client opens door – interview begins with small talk. Take them to the table, establish control. Ask important questions while setting up (conversationally): How long have you been in the house? Is this your 1 st home? How did you decide on this neighborhood? Do your kids like it? New school, etc. Are your jobs in the area? Ask them about their work (benefits, etc.) 2. Show them the lead card that they sent you. Review everything you did on the phone. -Reconfirm all the information on the sheet (re-state answers) 3. Ask them: “I know we spoke about this on the phone, but just to make sure we’re still on the same page, when you filled out this card and sent it in to me, why were you wanting the mortgage protection insurance? What do you want it to do for you?” This question must not sound canned!! Stumble over the question a bit; make it sound as though you truly don’t know. This is where the sale is made. Make the client answer this question, do not help them! If there is a spouse, make sure he/she agrees with the client’s answer. Repeat their answer back to them, (“So you want to make sure that if you die, the house is paid off for your family, right?”). After the client answers the question, ask a follow-up question like: “Would your (husband, wife, etc) be able to afford to keep this home if you were to die unexpectedly?” or “Why is that important to you?”
If the client(s) cannot answer why they want the insurance, you must do a “fire drill”. Role-play with them until they clearly state their need. DO NOT go forward in the presentation until they state their need. After client states their need for mortgage protection, ask them: “Have you ever had mortgage protection before, or have you ever looked into getting it recently?” If yes, find out why they don’t have it anymore, or who they’ve spoken to about getting it recently. This is a good transition to step 4. 4. Give a quick explanation of mortgage protection, “ old vs. new ” -Old Kind of Mortgage Protection -Lender is owner and beneficiary: With the old kind of mortgage protection, your family has no choice on what happens to the money. It goes straight to the mortgage company, and may not even be enough to pay off the house -Not portable: With the old kind, if you refinance your current home, sell your current home, or if your loan is sold, you will usually lose your coverage. Then you must requalify at an older age, and you are possibly less healthy. -No money back: With the old kind, if you never die or use any of the protection in your policy by the time your mortgage ends, you have lost all of the money you have paid for the insurance. -New Kind of Mortgage Protection -Client is the owner and names the beneficiary: With the new kind of mortgage protection, the money goes straight to your beneficiary, and they can choose the best use for it. -Portable: With the new kind, the plan stays with you no matter what happens to the loan you currently have. -Money back option: With the new kind, if you never die or use any of the protection before your mortgage ends, there are options available to have all of the premiums that you paid into the program returned back to you in one lump sum. 5. Explain how this works and break the pact: “Just to remind you, I’m an independent agent, and I don’t work for any one insurance company. As you may know, there are over 3000 different insurance companies that are out there, so it would be
nearly impossible for an individual shop it all. As a service to you, I took all of this information that you have given to me, and shopped around for you in order to find you the best rates and options that are available to you. I’ve found a company called (LSW, Mutual of Omaha, etc.) that works great for your situation (mention any of their health attributes, i.e., smoking, diabetes, perfect health, etc.).” “First we’re going to custom design your program with (LSW, Mutual of Omaha, etc), and you’re going to see a lot of different options and benefits. You can pick and choose from these different benefits to customize your plan so that it gives you the coverage that you need and it is affordable. After we have finished customizing the plan, if it’s logical, makes sense, feels like a good program and you want to be covered under it, then I can help you obtain the coverage. Secondly, we’ll need to fill out a request for coverage with some health questions, and send that in to the insurance company to see if we can get you approved for the plan. At that time, I’ll also have to collect the check for the first month’s premium, and then you’re considered conditionally covered immediately under (Illinois, Missouri, Kansas, etc) state law the moment I walk out of the door.” “However, if this program doesn’t work for you for some reason, then please be honest with me and tell me what the problem is. If the price isn’t comfortable or if it isn’t giving you the kind of protection you were looking for, let me know, because I’ve got my laptop computer here so we should be able to fix it. But if I can’t fix it, then we’ll shake hands and part as friends. Fair enough?” “So, if I can design a plan that gives you the coverage that you’re looking for and is affordable to you, is there any reason that you would not want to be covered today?” Normally, the client won’t have any objections, and you will proceed into the software on the computer to help them custom design their plan. If the client does have an objection, in particular, an objection to making a decision today, it must be overcome before proceeding to the software. 6. Begin designing the program for the client(s) by building the most expensive package you can. Add all riders and options, and tell the client it
is the “bells and whistles package”. First, add riders that will be an extra premium (disability, waiver of premium, child rider, etc), and explain them briefly. Secondly, explain any free riders that come with the program. If discussing LSW ABR’s, say the following: “The first free option that is available with this package is a terminal illness option. Should you become terminally ill, and a doctor says that you are going to die within 24 months or less; this company will allow you to have access to large chunk of the death benefit without you having to have to have died. You can use this money to pay off your home, or to seek alternative forms of medical treatment that are not available in this country, or whatever you need. This could be very valuable for your (beneficiary), because if you’re terminally ill you probably won’t be able to work, and this could create a huge financial burden for (beneficiary) in addition to them him/her having to lose you to your terminal illness. Obviously, it would be very valuable to have coverage like this if you became terminally ill, wouldn’t you agree?” “The second free option that is available with this package is a chronic illness option. Should your health decline to the point where you would need to go into a nursing home or have care come into the home to take care of you, you would be able to access the death benefit in monthly payments. You could use this money to help pay for your medical care, to make your house payment, or whatever you need it for. The best part is that this money could be the difference between having to go into a nursing home and being able to afford to stay in your own home. Obviously, it would be very valuable to have coverage like this if you couldn’t take care of yourself, wouldn’t you agree?” “The third free option that is available with this package is a critical illness option. ( Take the LSW ABR disclosure page from the app packet, and read the covered illnesses to the client ) If any one of these covered critical illnesses would occur with you, you could have access to the death benefit without having to have died. The more serious the illness, the larger a portion of the death benefit you’ll have access to. We all know someone who has suffered from one of these illnesses, and we know the financial burden that the resulting missed time from work can cause a family. Think of how valuable it
would be to have access to the death benefit while you recover from a critical illness, it could mean the difference between losing the home and living comfortably during a time of missed work. Obviously, it would be very valuable to have coverage like this if you would suffer a critical illness, wouldn’t you agree?” After explaining the living benefits, show client the price of the most expensive package, and wait for their reaction. If it is too expensive for them, allow client to see the cost of each rider, and encourage them to discard riders that are not important to them or that add to much cost to the program. Be careful not to push the client too much in any direction, let this be their package. 7. CLOSE – The client has discarded options and customized this plan. Have your application ready and on the table. Grab it, and ask for their middle initial. Start filling out the application. SALE. 8. Get out CRM brochure, get clients email address, and cross sell other products! 9. REFERRALS, REFERRALS, REFERRALS
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