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10 Important Questions to Ask Your Life Insurance Prospects | Nectar

You may have heard the saying “show, don’t tell”. highlights an important truth: people are more affected by experiences and discovering something for themselves than by someone simply telling them facts or information.

what does “show” consist of when you sell life insurance? By asking the right questions, the answers your prospects give show them the answer, rather than you telling them, for their life insurance needs.

Reading: Life insurance questions to ask when selling

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why you need good questions for your life insurance prospects

More than 59% of people without life insurance (73 million people) say they need it, showing they understand the importance of life insurance. Another 29 million Americans are underinsured and know they need more life insurance coverage. more people are becoming more aware that they need life insurance every day. however, these potential clients do not yet have life insurance.

Why don’t more than 102 million Americans who say they need more life insurance have it? As a salesperson, it’s up to you to figure out which of the many different reasons a prospect has for not having life insurance or for not having enough insurance. You can convert prospects into customers by asking questions that help them reach their own conclusions about the importance of life insurance to them and their families.

The answers people give to important life insurance questions help guide them toward purchasing a life insurance policy. Read on to discover the types of questions you can choose to ask and how the answers can translate into sales.

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top questions for life insurance prospects

Some of the questions you can ask prospects aren’t easy, but once your prospect answers, they’ll take you a few steps closer to closing a deal. Keep in mind that in your conversations with potential customers, you want to avoid “yes” or “no” questions and focus on open-ended questions that encourage dialogue.

here are some key questions you should have ready, in no particular order.

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1. If life insurance cost nothing, how much would you need?

This is a great question to ask a potential client. invites them to give a round figure. they will most likely say “a million dollars” or something similar. you can continue with “why do you say that?” or “what would your family do with the money?” This is a good question to try if you are still getting to know the prospect and are just beginning to assess their needs or set up your questionnaire. This type of question is open-ended and non-threatening.

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You can strike up conversations with potential clients who see you as an adversary rather than a professional who wants to help them with their life insurance needs. they may respond with a ridiculous amount like “a billion dollars.” If this happens, have a few answers ready to respond with the same good humor and steer the discussion toward more realistic life insurance needs.

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2. What is your understanding of life insurance and how does it work?

This question invites your prospect to tell you what they know or think about life insurance. try not to prejudge their answers or interrupt while they explain their ideas. The answer can help you discover many ways to present the products you offer.

With this type of question, be aware that you may hear some pretty extreme misconceptions about life insurance. When responding, acknowledge the customer’s beliefs or opinions in a respectful manner. you can gently guide them to the right life insurance answer, bringing them one step closer to closing the sale.

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3. How much do you think life insurance costs?

One of the most common objections to buying life insurance is that it “costs too much.” According to an annual life insurance study, more than half of American consumers overestimate the cost of life insurance. millennial consumers thought life insurance premiums for a typical 30-year-old were up to six times higher than they actually are.

The answer to this question could easily lead you into a discussion about how much your products cost, and you may be in a good position to pleasantly surprise them. If you’re overestimating your potential cost of life insurance, the conversation about more affordable premiums is easy to steer in the direction of closing the deal.

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4. If you knew you were going to die tomorrow, how much life insurance would you buy?

The best life insurance agents say that becoming a successful salesperson isn’t so much about being a great salesperson as it is about mastering the art of asking tough questions. this question probably qualifies as “disturbing” for most people. also goes to the point. The answer may surprise both you and your prospect, and is sure to lead to a positive discussion about benefit amounts and needs.

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5. What were his concerns and thoughts when he asked about life insurance options?

If you’ve received a qualified lead, the perfect starting point is to ask them what they were thinking when they inquired about life insurance options. the question automatically opens a natural conversation about your life circumstances and needs. You can follow up by asking them about their financial priorities. This question opens a dialog that helps you structure your follow-up questions. You can offer information about the products you sell and relate them to the needs of the potential customer.

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6. What other life insurance do you have to provide for ___________ (need)?

This question is useful for several reasons. First, you can determine if the prospect has other life insurance, such as through their employer. the answer can help you start an investigation process. it can also help you determine where to place the prospect in your product set.

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7. Imagine that your spouse passes away tonight. what financial needs might you have?

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This is another challenging and awkward question, but it’s worth it because it speaks directly to why people need life insurance, not just for themselves, but for their spouse as well. If a spouse dies, even one who doesn’t work outside the home, there could be end-of-life expenses, costs related to credit cards, car payments, and mortgage payments.

The answer won’t be comfortable for your potential client, but it asks them to consider their options and think realistically about what could happen if such a tragic event were to occur. When asking these kinds of tough questions, avoid being pushy. The answer offers you the opportunity to listen carefully and respond with the products you offer that may meet your needs.

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8. Have you considered your other needs if your spouse or children die?

many people have not considered life insurance for other family members. In the case of a non-working spouse, the family’s source of income may not have considered the expenses they would have if their spouse died. if the spouse takes care of the children at home, how would she pay for the childcare without them? Other considerations include final expenses in the event of the death of a child. a prolonged illness can also add up to a significant sum if a spouse or child dies. Both this question and the previous one encourage your prospects to consider life insurance as a proposition for the whole family.

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9. What do you think could happen to your family if tomorrow the income you are contributing ends?

This is a way to directly avoid the “death” issue, but still asks the prospect to consider the financial implications if they die. Keep in mind that you are opening a discussion with your prospect about the real needs that might occur and the rationale behind life insurance policies. This is an easy question for your prospect to consider your family’s financial needs and how life insurance can meet them.

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10. If he was driving to work and was hit by a drunk driver, how much do you think his family would demand from him?

This is another “hard” question, but slightly less difficult than “if you died tomorrow…” it gives your prospect the opportunity to consider financial needs in a slightly different way. it’s also one that few people are likely to consider on their own, and it brings up the subject of your financial worth to your family in a different and unusual way. They also likely know someone who was injured in a drunk driving accident, possibly even another family member.

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asking good questions helps close life insurance sales

Sometimes prospects may have objections to buying insurance that you can counter with good examples, but asking these questions can also help you overcome objections. Thinking of your conversations with prospects as discussions of your interests and your family’s financial needs can help you build customer relationships and close more sales.

You can save time talking to customers looking for answers to help you design the best life insurance options for them. By being a good listener, you can ask more questions of your own that help your prospects think for themselves about how life insurance can benefit them and their family.

Time is precious to all of us, and you can maximize the time you have to work with clients and ask these great questions by getting high-quality life insurance leads. nectar generates real-time life insurance leads for you. Every buyer you receive as a qualified lead through Nectar is already thinking about some of the questions you can ask. all you have to do is be ready to ask.

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