Intro
(Set the tone and pace with the client here. You want to be slow and calm so the client can be relaxed and open. Be assumptive and don't fall victim to the smoke screens!)
Hey (client), it's (broker), can you hear me ok?
Yeah, I had a second here to get back to you about that request you put in (lead type), It looks like you were looking for (Life Insurance/Final Expense) quotes, and I don't see it on here, but was this coverage for yourself or a loved one?
(Don’t move forward until they understand you are not a telemarketer.)
__________________________________________________________________
Obstacles: No time right now / Can I call you back / I'm drivingYeah, absolutely - I only have a minute here as well. THIS call is just to see if we can even help you, and if it looks like we can, then we can set up a time to talk. So most of my clients are looking to Under 50 (Cover a mortgage, pay off debts, or leave money behind)Over 50 (Cover a burial, cover a cremation, or leave money behind)
which was it for you?
I already have this taken care of / Already have a policy
Absolutely, most people do. So when you filled this out, were you just looking to add more coverage to the policy you have now, or were you just wanting to see what else is out there, just to make sure you weren't overpaying on your current policy?
I'm not interested / Take me off your list
Absolutely, I can do that for you now. Now, when you say that you are not interested, is that because you didn't think you can qualify, or did someone show you something that was just too expensive?
How much is it going to cost?
Great question, I work with over 26 different carriers, and once I get some of the basic info we need, we will shop around to see where we get the best offer. Let me confirm what I have here. I show you live in the state of ____, is that right?
Point Of The Call:
(Be Inquisitive and interested. Do not be confrontational. Be sure to mirror your client with tone, pace, and repeat impactful statements from the client. This section is the most important)
Just to confirm, you put down you are living in the state of (state), is that correct?
Now, do you have a policy right now, or would we be starting from scratch?
Already have a policy: Great, so what has you looking for insurance now? Is it to add on to what you currently have or did you just want to see if there was something more affordable out there?
No Policy: Perfect, where you just looking to take care of (burial, final expenses, maybe leave a little extra behind | paying off a mortgage, replacing income or just leaving money behind)
(Build a little report and reiterate what they are looking for.)
Framing the Call:
(Deliver this in a matter of fact tone which informs the client of next steps, but more importantly, this is just what we do for all of our clients.)
So again, my name is (Broker). I’m just an underwriter here. The process is simple. I’m going to ask you a few health and lifestyle questions to see what you’re eligible for.Once we have that, I’ll shop the top carriers available in the state to find something that fits your needs and budget. If we find a good fit, we'll go ahead and submit an application to see if we can get you approved.Sound fair?
Testing The Waters:
(This is where we find out how the client responds to order and if we will be one call closing or setting the appointment)
Go ahead and grab a pen and paper for me... Let me know when you are ready...
Qualify:
(Get through these questions sub 3 minutes. Make sure to get the banking type and medicare info)
Now let’s make sure I can even help you here.
What major medical conditions do you have like Cancer, Heart Problems, Diabetes, High Blood Pressure, COPD, or Memory Issues?
If so, when were you diagnosed?
What medical conditions have you had in the past?
What medications are you currently taking?
What medications have you been prescribed in the last 5 years that you are no longer taking?
What else?
Have you been hospitalized for more than 24 hours in the last 2 years?
Are you still working or do you qualify for Disability, Social Security, or a Pension?
Perfect: Now I am going to start looking for any discounts you may qualify for, does anyone at your address have a life insurance policy currently or is currently in the market for one?
Do you use a Major Bank / Credit Union / or Social Security Direct Express Card?
(Netspend, Cashapp, Chime, Greendot, and metabank are not bank accounts.)
What do you have that would be left behind for your family that can act like insurance (401K/403b/457/stocks/CDs)
(If over 65) Who do you have for your Medicare Advantage or Supplement Plan to see if any bundle discounts are available?
So it looks like I can help you here based on what you just told me.
About Me:
(Make sure the link is opened so you know the type of application/carrier you will need to use)
Do you receive text messages on this phone?
Y: (Sent text with your details) I just sent you a text with my details, can you tell me what you see there? Now you have all of my personal details, you can look me up or contact me there.
N: Are you able to look at your email right now?
Y: (Send email with your details) I just sent you a text with my details, can you tell me what you see there? Now you have all of my personal details, you can look me up or contact me there.
N: You’ll want to grab something to write with real quick, so you can write down some of my information. My name is (name) and I am a licensed underwriter for the state of (state). (Give your first and last name/state license number) If you ever want to go to the Department of Insurance you can always feel free to look me up there.
(Tell them a little about yourself)
(Make sure the client has opened your text or email and has seen your picture and information)
Magnifying The Need:
(You want to find out as much as you can but do not continue to push if the client is not having it)
It's gonna take a minute here to load up, but I was curious, did something happen recently or what had you looking for (some / more) life insurance in the first place? (let them talk, repeat what they said)
Why do you feel like (life insurance / a final expense plan) is the best option for you? (reiterate what they say)
Oh, I almost forgot to ask, who would your beneficiary be? (dig deeper here to get them to talk about the beneficiary so you can determine how important this coverage is and how important it is to protect them)
So is it more so that (beneficiary) could come up with the money on their own and cover things, you just don't want them to... or is it more so that if they had to come up with that money that it would put them in a bad spot financially?
Oh, I see. So your just not feeling that great about that potentially happening?
Identity Framing:
(Create a frame on who they are as a person, and how they act, so they can live up to it.
That's good to hear. They're lucky to have someone like you, that is so selfless, and...I guess... reasonable enough to know that while most of us don't really want to think about it... the bottom line is that were all going to die at some point. Of course, hopefully it doesn't happen for a while, but it's kinda like the old saying goes... Prepare for the worst and hope for the best.
(pause so they can respond)
It's so smart... IT'S CRAZY THOUGH! You know I talk to a lot of people and some people... I mean everyone loves their family right... but some people just think of it like "I paid for everything when you were young, it's your turn to take care of me... yeah... you know what I mean?
Have you always been that way, or I guess where does that way of thinking come from?
It seems like this has been on your mind for a while... how long has this been in the back of your mind?
How much easier do you feel it would be for (beneficiary), them getting a check to cover everything... not having to worry about money... while they were grieving?
If it's a transfer:
Perfect ____, I have everything I need on my end to get this over to a senior underwriter so we can see what programs you qualify for. I'm gonna get this over to them now and put together some quotes for you, is there any reason you wouldn't be able to answer when we call you back in the next 10 minutes? Look out for the number 725-252-4844, that is the underwriting department.
Select & Sell (Cover Several Of These Points)
Here is how these plans work and why they are unique
Designed for seniors on a budget
How Final Expense Plans Work
Build cash value
Rates don't increase
Face amount does not decrease
Coverage never expires
Payout in 24 - 72 hours
Income tax and Creditor Free
Better than money in the bank
Term vs Perm
Day One Coverage
A rating with AM Best
Better than a prepaid funeral
Living benefit overview
No Physical
Carrier Selection:
(Go over the carrier highlights you will be applying for with them and why you chose this carrier for them)
Quote:
The quotes are pulling up right now but just so I have a starting point. How much would you say you can put aside every month to take care of this without taking any food off the table?
Go ahead and grab a pen and paper so you can write this down, let me know when you are ready.
Here is all I ask from you (prospect name) If you like the plan let me know you like it and I will do my best to get you qualified. But, on the other hand, if you don't like the plan I don't want you to feel funny saying hey (your name) this plan isn’t for me ok. You wouldn't have a problem saying no to me, would you? Okay good. Some people think they are going to hurt my feelings and rather than just telling me no, they want to tell me a story like they are driving right now, call them back after work, or they just need to talk to someone else. But like I said it will be obvious, so I just need a yes or no right now, fair enough?
Based on everything you told me, you qualify for some of the best rates out there. Here is what you qualify for
● Silver
Final Expense- 15k or $75 Per Month + Accidental
Term or Living Bene- 10x their annual income + Accidental
Mortgage Protection- Full Mortgage + Accidental
● Gold
Final Expense- 25k or $100 Per Month + Accidental
Term or Living Bene- 20x their annual income + Accidental
Mortgage Protection- Half Of The Mortgage + ROP + Accidental
Now this last number is the max you may qualify for based on YOUR age and health. Now this is the most expensive option and I am not suggesting this is the right plan for you. The only reason they have me show you this plan is if later on down the road something happened like a heart attack, stroke, or cancer you don’t get mad at me saying (your name) you didn’t tell me I could get up to (max coverage) without an exam or anyone coming out, and at that point, it would be too late, does that make sense?
● Platinum
Final Expense- Max Coverage + Accidental
Term or Living Bene- 30x their annual income
Mortgage Protection- Full Mortgage + ROP + Accidental
● Bronze (Only If They Say No To The 3)
Whatever Amount They Said Or…
Final Expense- 10k or $50 Per Month
Term or Living Bene- 5x their annual income
Mortgage Protection- Half Of The Mortgage
Close:
So out of the options we just went over, circle the one that makes the most sense for you.
Which one did you circle?
(Without hesitation go right into this)
Now _____, here’s what happens next, even if you told me yes SIGN ME UP TODAY, I don’t even know if you will qualify so what I am going to do now is get the rest of the information needed to complete your application and then send the application over to the carrier. Once they review your applications one of two things is going to happen. #1 everything goes as planned and the policy will go into effect the day that you chose for your premiums to come out or #2 you don’t get approved and you are in the exact same situation you are in now. Does that sound fair enough?
Apply:
Now the way this works is that we can not start your policy today, we have to wait until we get the approval. Once we have the approval, it takes another 2-3 days to be able to run your payment and get your policy started, you will have the funds in your account by then right? Now for each additional payment, we can pick which day the payments come out. Most of my clients are looking for the 1st, the 3rd or a certain Wednesday, which day works best for you?
Ok, so we will set that up for the( _______) of every month.
Just to confirm we are going to have that set up with your (Bank They Told You Earlier)
Ok, and you opened that is the state of (state) as well right? It looks like a lot of our clients in (state) are using them as well so the routing information pops up on my end, can you just confirm it matches what you have?
Ok, and what was the account number you have for that account?
(If you get a rebuttal on giving you the banking info, reassure them with the following)
No money is required upfront for the application, they just need to have it on file to submit the application. The only time any money will be withdrawn from your account is when you accept the insurance company's offer with your formal authorization. I am hoping to get by the (draft date), that is when you wanted the policy to start correct?
(Complete the application and get the approval. If the application is not approved, pivot to another carrier now, do not wait for the home office to get back to you)
Medicare: If over 65
I noticed earlier that you told me that you have (carrier) is that the plan you wanted or is that just what you got stuck with? The reason I ask is I also help my clients out on the Medicare side but only if it looks like we can help get them a better plan, since these plans change every year. I don’t have the time right now but do you want me to take a look and see if we can get you some extra perks when I get a chance?
(If yes, grab all of the details you will need to put quotes together)
Reassure and Referrals:
You did a good thing here today _____, how do you feel about knowing this is taken care of?
One last thing I want to do for you real quick. I am going to create a list of emergency contacts and add them to your file so if and when that time comes, I can be an added resource for your family and friends.
Who would you like to add to your emergency contacts, it’s normally between 3 and 5 people.
Now out of any of these people, or anyone else you can think of, who do you think could use the help that I provided you today?
Complete and Submit To Link Info
