How to Create a Life Insurance Sales Script
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The document outlines how to create a life insurance sales script. It includes sections on the product (life insurance), features, differentiation, target market (individuals), improvements, challenges/concerns, value proposition, pain points, questions to ask prospects, evaluating a prospect's current state, and examples of scripts for cold calls, first appointments, email campaigns, and voicemail messages. The goal is to help salespeople understand the product, identify customer needs and concerns, and structure a consistent sales process.
How to Create a Life Insurance Sales Script
- 1. How to Create a Life Insurance Sales Script
- 2. • Annuities • Auto and home insurance • Commercial insurance • Disability income coverage • Employee benefits • Estate and financial planning • Final expense • Health insurance • Insurance and retirement planning • Insurance program review • Life insurance • Life insurance policy review • Long-term care • Mortgage protection • Term life • Universal life • Worker’s compensation
- 3. PRODUCT LIFE INSURANCE FEATURES • Whole life / Life insurance • Income Protection • Funeral & Final Expenses • Mortgage Protection • Debt Protection • Children’s Education • Health Services Discount • Card Cash Value • AD&D DIFFERENTIATION • We are the largest union benefits company in America and handle the permanent benefits for over 30K different unions and associations • We offer layoff strike waivers that pay premiums if you are ever laid off or have to go on strike • We are A+ rated by the Better Business Bureau
- 4. • Whole life / Life insurance • Income Protection • Funeral & Final Expenses • Mortgage Protection • Debt Protection • Children’s Education • Health Services Discount • Card Cash Value • AD&D PRODUCT LIFE INSURANCE FEATURES DIFFERENTIATION TARGET INDIVIDUALS IMPROVEMENTS • Have financial security if there is an illness, disability, or death • Protect their family's assets • Prevent disruptions to long-term goals (children’s college education) • Decrease the possibility of financial instability • Have assurance that they have made prudent decisions • Make something work better • Make something easier • Decrease the time it takes to do something • Increase revenue or income • Decrease costs or expenses • Improve product quality • Decrease the risk of something bad happening • Improve visibility or access to information VALUE • We are the largest union benefits company in America and handle the permanent benefits for over 30K different unions and associations • We offer layoff strike waivers that pay premiums if you are ever laid off or have to
- 5. PRODUCT LIFE INSURANCE IMPROVEMENTS TARGET INDIVIDUALS CHALLENGES/CONCERNS • An illness, accident, or death can cause a significant financial disruption • An unplanned financial disruption can threaten a family's assets • A financial disruption could impact future goals and plans (children's education) • There is always the possibility of financial disruptions and instability from an illness, accident, or death • Can be easy to not make the correct coverage decisions and plans • What is the opposite of the improvement? • What problem goes away with the improvement? • What problem starts to happen if this improvement is not provided? VALUE PAIN • Have financial security if there is an illness, disability, or death • Protect their family's assets • Prevent disruptions to long-term goals (children’s college education) • Decrease the possibility of financial instability • Have assurance that they have made prudent decisions
- 6. PRODUCT LIFE INSURANCE CHALLENGES/CONCERNS TARGET INDIVIDUALS PAIN QUESTIONS • How could an illness, accident, or death impact your family financially? • How do you feel about your current level of protection and coverage for unplanned events like illness, accident, or death? • How important is it to make sure future goals or plans are not disrupted in any way (children's education)? • How concerned are you about how an illness, accident, or death could impact the financial well- being for your family? • How confident are you that you have made all of the proper decisions and plans to make sure your family is covered and protected from the impacts of an illness, accident, or death? • What question could we ask to see if the prospect has each challenge or concern? • For each pain point the product fixes is a question that could be asked. VALUE PAIN QUESTIONS • An illness, accident, or death can cause a significant financial disruption • An unplanned financial disruption can threaten a family's assets • A financial disruption could impact future goals and plans (children's education) • There is always the possibility of financial disruptions and instability from an illness, accident, or death • Can be easy to not make the correct coverage decisions and plans
- 7. PRODUCT LIFE INSURANCE TARGET INDIVIDUALS CURRENT STATE QUESTIONS • Do you currently have life insurance? • What type of life insurance do you currently have? Who are you currently with? • Are both you and your spouse contributing to the household finances? If so, what would be the impact if one of you stopped contributing? • Do you have any children? • Are there any future goals or plans for your family that you want to make sure they don’t get sidetracked? (retirement, children go to college, pay off home, investments, vacations, etc) • How much money do you have set aside to take care of your children's education? • What five things would you most want taken care of if something happened to you? • Currently have what you sell? • Current vendor/provider • Current systems and processes • People in the organization • Current contracts and expiration dates • Size details – number of sites, people, systems, etc. • Current performance/stats (technical, marketing, financial, etc.) • Last time evaluated other options VALUE PAIN QUESTIONS
- 8. PRODUCT LIFE INSURANCE TARGET INDIVIDUALS CURRENT STATE QUESTIONS • Do you own or rent your home? How will your ability to make mortgage payments be impacted if there is a disability, illness, or death in your family? • What do you owe on your mortgage? • Do you currently have any insurance coverage that protects your mortgage if there is a disability, illness, or death in your family? • How do you feel about having enough financial reserves if there is an unexpected illness or death? • Do you have funds set aside to take care of funeral expenses? • When was the last time you considered other options in this area? How have you been doing health-wise? • Currently have what you sell? • Current vendor/provider • Current systems and processes • People in the organization • Current contracts and expiration dates • Size details – number of sites, people, systems, etc. • Current performance/stats (technical, marketing, financial, etc.) • Last time evaluated other options VALUE PAIN QUESTIONS
- 9. PRODUCT LIFE INSURANCE TARGET INDIVIDUALS CURRENT STATE QUESTIONS • Do you take any prescriptions? • Do you use any form of tobacco or marijuana? • Any DUI's or felonies? • Have you been hospitalized in the last five years? • Currently have what you sell? • Current vendor/provider • Current systems and processes • People in the organization • Current contracts and expiration dates • Size details – number of sites, people, systems, etc. • Current performance/stats (technical, marketing, financial, etc.) • Last time evaluated other options VALUE PAIN QUESTIONS
- 11. Cold Call Script VALUE POINTS PAIN POINTS PAIN QUESTIONS CURRENT STATE CUSTOMER EXAMPLE PRODUCT OPEN CLOSE
- 12. VALUE POINTS PAIN POINTS CURRENT STATE PRODUCT PAIN QUESTIONS DISCOVERY OPEN CLOSE CURRENT STATE PAIN POINTS PRODUCT CUSTOMER EXAMPLE First Appointment Script
- 13. Cold Email Campaigns Email #1 Email #2 Delay (1 or 2 weeks) Email #3 Delay (1 or 2 weeks) Email #4 Delay (1 or 2 weeks) Email #5 Delay (1 or 2 weeks) Email #6 Delay (1 or 2 weeks) VALUE POINTS PAIN POINTS PAIN QUESTIONS CUSTOMER EXAMPLE PRODUCT VALUE POINTS
- 14. Voicemail Messages Voicemail #1 Voicemail #2 Voicemail #3 Voicemail #4 VALUE POINTS PAIN POINTS CUSTOMER EXAMPLE PRODUCT