Insurance selling: examples vs. testimonialsArticle added by Dan Viñal on June 28, 2011
Dan Vinal

Dan Viñal

Joined: May 02, 2007

Good client testimonials are not always easy to collect, and sometimes the wording our clients use is not easy to follow or is taken out of context. But there's an alternative that can be even better at proving your capabilities and the value of your services.

​Do you use testimonials to help you sell insurance or annuities?

Using client testimonials or professional endorsements from accountants or attorneys can help to prove your credibility. And of course, that can make you more trustworthy in the mind of your prospect.

But most testimonials typically lack meaningful "substance." By that I mean they are usually too vague or ambiguous. They might tell people you're very professional or your service is terrific, but they usually don't say anything about the actual results you can produce, which is what your prospects really need to understand. That's the easiest way for them to recognize your value, and have a reason to do business with you.

Insurance selling requires specific benefit examples

A client might say that you've saved them money or helped them solve a problem — which is much better. But they don't say how you saved them money or what you actually did to solve their problem. And if you don't have a full name and a photo to go along with the quote, your testimonials lack authenticity.

Now don't get me wrong. Testimonials can be quite useful — if they're good testimonials. But good client testimonials are not always easy to collect, and sometimes the wording our clients use is not easy to follow or is taken out of context. But there's an alternative that can be even better at proving your capabilities and the value of your services. It's an actual example of work you've done, or what we refer to as a "case story."

These case stories do not require any testimonial from the client because you compose them yourself. So they're not only faster and easier to produce, but prospects enjoy reading them more than testimonials. What's more, people trust the veracity of a "case story" more than testimonials.

Here's an example:

Steve and Terri were in their mid 50s when they came to me in 2004, through a personal referral from another client. They had $220,000 in their IRAs, and a home valued at $550,000. They also had Steve's pension that would pay them $4,200 a month for as long as they live.
Steve and Terri assumed there was nothing more they could do to increase their income or reduce their taxes. But using our tax strategy, they created two more sources of annual retirement income — a $12,000 tax free lifetime pension, and another $10,000 of tax-free income for 20 years. It also enabled them to pass $700,000 tax free to their children, and another $200,000 to their church.

Altogether, they are now projected to save more than $390,000 in taxes, and projected to gain at least $440,000 in retirement income.

Here's another example:

Mark and Karen were in their late 60s when they completed their financial audit.They had an IRA with a market value of $590,000 (down from almost $900,000 before the market crash) and a home valued at $640,000 with less than $80,000 left on the mortgage. They also owned some undeveloped real estate valued at $370,000 that Karen had inherited from her parents.

They too thought they were already doing all they could to maximize their income and minimize their taxes.

But after rearranging their capital assets with our tax strategy, they eliminated their home mortgage payment and bought a summer home without any mortgage.They also added $60,000 to their annual income and created a $1.5 million tax free inheritance for their children.

In total, they saved almost $500,000 in taxes and added $1,200,000 to their retirement income using our tax strategy.

Insurance selling with actual client examples

As you can see from these examples, they can be relatively easy to compose yourself from real client experiences. And whether you publish them on your website, in your newsletter or share them with your prospects verbally, they can be more engaging and compelling than testimonials because they illustrate the actual benefits derived from working with you.
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