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Final Expense Script Overview
It’s important to get your mindset right first.
Mindset: Your prospect filled out the form requesting burial insurance (knowing they would be contacted). This person is very interested in buying life insurance.
You simply need to do 2 things: (1) build rapport and (2) motivate them to make the decision.
The script puts you in control of the conversation and gives you a structured way to run the call.
Building rapport and getting your prospect to act TODAY is something that needs to happen naturally while following our call outline. It’s what separates the great final expense agents from the average ones.
A full presentation should last at least 30 minutes. If a sale is made, another 20 minutes to complete the application process.
If you’re spending under 30 minutes on the presentation, you’re going to feel it in your sales percentages and your persistency after the sale is made.
There are 5 sections to the script, here’s how much time you should be spending on it:
1) Opening: 1 minute
2) Who I am + burial insurance explanation: 4 minutes
3) Fact finding + Needs Analysis: 15 minutes
4) Health qualification prescreen: 10 minutes
5) Close: 5 minutes
There will always be leads that will buy with a quick sales process, but if you want to convert more of your leads into sales, you have got to follow the call outline and focus on building rapport the entire time.
***This is more important than the company you sell or what it costs***
The Fact Finder portion of the script is where you build all the rapport.
Think of the fact find as a rapport building session using the tips below. You’re finding out about them,
If you ever get the common objection of “I want to think about it”, you needed to build more rapport and value.
Here are some tips:
1) Speak authentically as if you’re having a conversation with a friend. Have a positive, upbeat tonality.
2) Praise often and show empathy
– “You sound AMAZING for 72, what’s your secret?”
– “You are one STRONG guy to have battled cancer and beat it. Congrats to you!”
3) You’re a “state licensed field underwriter” (not an agent or salesperson)
4) Story-Tell. This is important – a lot of agents want to skip this because it’s uncomfortable to talk about yourself, but sharing about yourself is a great way to build rapport.
Come up with short stories to share – the more intimate the details and vulnerable you are, the more someone will trust you. It humanizes you. Tell the same stories on every call.
Example: After they share the reason for their coverage. Segue into a personal story of yours:
“Thank you for sharing this, I can see why this is so important to you to take care of today. You know my Aunt recently passed away from Breast Cancer and I actually approached her for life insurance prior to her diagnosis and she put it on the backburner – it’s not in my nature to push someone to buy anything they don’t want…anyway our family had to all split the burial service costs….and that’s why I’m so glad we’re talking today because I know you don’t want the same thing to happen to your family, right?”.
Come up with several different stories. Write them down. If you don’t have one – talk about someone else’s story.
The more your prospects share, the stronger the bond you’re building with them and the more opportunity you have to share a similar story and build rapport. Make sure to acknowledge and praise.
For every 3 bits of information your prospects share with you, try and share something about you with them. 3:1 ratio.
However, if they start rambling about other things, bring them back to the script and regain control.
Motivation To Make A Decision (getting prospects to buy on the call)
A “No” is better than a maybe. Remember this.
Life insurance is a product that people procrastinate on probably more than any other product they buy, so leaving the door open for them to back out is the worst thing you can do.
Here are habits to implement into your sales process to get your prospects to take action:
1) Assume the sale by using the word “Today” often
Example (After they tell you why they need the coverage): “John thank you so much for sharing that. I can see why this is so so important to you and I am going to make sure we get this coverage taken care of for you TODAY!”
2) Use “Takeaway” language.
Understand that if you sound needy and you start to push for a sale prospects will instinctively start to run the opposite direction. But when you take something away, prospects start to chase what they can’t have and begin to want it more then they did before.
Example #1: Start saying “If you can qualify…” throughout your call.
Example #2: “Your <Diabetes> is a concern for life insurance companies.. I want you to know I am going to do my best for you but I can’t promise you anything because I don’t know enough about your health yet. Let’s see what we can do. Do you know how to spell all your medications or do you need to grab those for me?”
Example #3: If you’re getting any resistance on the call, say “well, let’s at least see if we can get you qualified for something affordable”
3) When presenting rates, always use the word “choice” instead of “options”, or “quotes”. We say choice because they’re about to choose one.
4) Use trial closes throughout the call.
Try and get at least 3 trial closes in.
You want your prospect to get in a rhythm of saying “Yes” to you and also agreeing that you’re on the same page. Here are some examples:
“Does that make sense?”
“Are you with me so far?”
“Would that amount of coverage work for you?”
“How do you feel about what we’ve discussed so far?”
Have this mindset: All objections are smokescreen.
They just don’t trust you yet. They completed a form online, so there’s interest. The goal is to deflect all objections until you can bring their guard down and build rapport with that person.
Here’s a line to deflect any objection prior to giving rates. IE “I can’t afford anything right now”, “I already have insurance”, “can you mail me the information”, “I have to speak with my spouse/kids” or “I’m shopping around”.
“I understand you <can’t afford anything right now>. This is just an informational call and as a state licensed field underwriter, I just want to tell you what these state approved plans are and see if you can qualify for them (a take-away)…and then you can tell me what to do from there…..<pivot back to where you are in the process and build more rapport!>
If you get objections after presenting rates and do a proper “price drop” (explained in future training), you likely didn’t build enough rapport. We can likely pinpoint it to less than 15 minutes on the fact find – aka – the rapport building session.
However, always isolate the objection.
If someone says “I need to speak with my spouse”, your response to isolate the objection “Lets assume your spouse is on board with protecting your family, are there any other reasons why we wouldn’t proceed?”.
You want to make sure that’s the only objection.