A step-by-step life insurance presentation that closes on the first meeting

By Cesar Perez


I decided to break down my sales process when it comes to life insurance presentations, a step-by-step guide. It works very well, especially because it's efficient in closing on the first meeting.

We often forget to see what we do well and what we need to improve upon. On this note, I decided to break down my sales process when it comes to life insurance presentations, a step-by-step guide. You may find some of this useful, and if so, feel free to use it. I also encourage you to write down yours and share it so that we may all benefit.

My presentation is dynamic, so depending on the prospect, I will change it up a bit. However, most of my customers are of the lower middle class, so the way I present is usually always the same. For the purposes of this article, I will describe what I do the majority of the time.

When I start out face-to-face with prospects, I typically begin by asking a series of questions like, "Has anyone else ever sat down and explained this to you?" or "If something happens to Mr. X, in what financial position will you and your children be left in?" I try to ask at least five questions. The reason this is important is because it makes the prospect think about the need.

After the questions, I explain why life insurance is so important, which they could see from the questions. Also, I tell them a story or two. I rely on stories that I've lived through (delivering a claim check, for example). This provides a positive outlook and portrays life insurance as a trustworthy product.

At this point, I begin to explain the different types of life insurance — accidental, term, ROP term, and permanent policies. I do not explain all the types of permanent policies; during my questioning, they will usually reveal information which reveal whether they are qualified for a permanent product or not. I also ask questions from a survey (usually when I'm knocking on doors), and this will also qualify a prospect if he or she is thinking more about their future.
I educate the customer by writing down the examples on my notepad. I draw a line for a term policy with a number of years, a hypothetical face amount and a hypothetical payment, and then I mention that the coverage is for X years and no matter what happens during that time, they are covered. (In my examples, I use numbers that would be close to what they would see. Based on my experience, I can estimate it well. These are the numbers they will expect to see when you quote them.) I also draw something for the permanent policies to help the prospect visualize the product.

After I explained the policies, I ask, "In your situation, which of these do you think you and your family would benefit from the most?" After they pick one, I explain to them how to determine the face amount. I determine their face amount, and then I will ask them if they have an Internet connection. If they do, I will let them know that I'd like to get them an idea of what they would be paying for. Typically at this point, they are pretty intrigued and interested, so I keep going. If they don't have Internet, then I use my smart phone to give them a quote. I get three quotes: lower face amount, just right, and a little extra. Ninety percent of the time they will choose the option in the middle.

At that point I say, "You can't buy this right now; its a process, so even if I wanted to, we still need to make sure you folks qualify for this." This will make your transition smooth by relieving the pressure to close the sale immediately. I will then take out an application or start one online and tell them that I'll get the application started to see if they qualify, because it takes 4 to 8 weeks for everything to go through. They will usually ask if they have to pay then and there. I tell them, "90 percent of people who fill out applications send the application with a check because they will be conditionally covered. However, it is not necessary." I do highlight that most do it for the fact that they are covered then and there.

After filling out the application I let them know that it will take some time for me to get an answer, at which point I will call or come back and deliver the policy. I also let them know that they can call me with any questions and that the carrier may be calling them for a phone interview.

This is the process I use most of the time. It works very well, especially because it's efficient in closing on the first meeting. Once you fill out the application — even if they do not submit a check — they will follow through because they want to remain consistent with what they said.

Please feel free to share what your presentation looks like in the comment section below.

See also:

2 insider secrets top advisors use to close more cash value life insurance sales

What "Breaking Bad" can teach you about insurance sales

How can you consistently close nine out of 10 people with whom you meet?

9 cognitive biases that impede your sales — and how to overcome them