How to Overcome Objections in Insurance Sales: A Hero’s Guide

Are you looking for ways to overcome objections in insurance sales?

Working in the insurance field often means you have to overcome objections from your sales leads. Truth be told, some people consider those who overcome objections have some sort of superpower. Handling sales objections can be tricky sometimes. For example, you may have a strong product and a clear value proposition, but your sales lead is stubborn and doesn’t want to sign up for that new insurance coverage. That shouldn’t be surprising though because most of your sales leads won’t purchase on the first meeting or after the first phone call. Strong and timely sales follow up using Blitz can help you move those valuable leads down the sales funnel. So, use these tips to start overcoming objections in insurance sales and transform yourself into an insurance superhero, ready to tackle any obstacle:

How should you handle initial objections?

When an objection arises early on in your conversations, this can happen for several reasons. First, it’s possible that you just don’t relate well to the customer. When talking to customers find a tone and a few common interests that can help you relate to that customer better. Second, the timing may not be right. Once, I had a salesperson call me in the morning on my first day back from a weeklong vacation. I didn’t think what he was selling was a bad product, but I was simply too busy to talk to him at that moment. Or perhaps the person you are speaking with might be running late or have a tight deadline. When you’re trying to overcome objections in insurance sales, don’t take rejections personally. Sometimes you should plan to approach that prospect later and go after another lead instead.

Why do you encounter sales objections?

You must overcome objections in insurance sales, that’s simply the nature of the insurance industry. When a potential customer hesitates or raises a concern about buying the solution you suggested to them, you should prepare beforehand on how to handle those situations. Customers that resist buying do so for a variety of reasons. One common possibility is that in conversations, the approach and tone used might have been construed as a little bit too “sales-y” in its approach. Resist the urge to apply high-pressure sales tactics or overpromise. Instead, find out what a lead’s concerns are that are keeping him or her from making the purchase. Then, discuss with the lead how your proposed solution will help solve his or her problem.

Are there ways to prevent objections from arising?

Preparing for conversations with sales scripts and knowing how to handle initial objections can help. However, if you’re still facing roadblocks and need help to overcome objections in insurance sales, you may need to work on building trust and a better rapport. When meeting customers face-to-face, insurance agents must dress professionally. Also, have your company ID and a copy of your insurance license available. When speaking to potential customers about their insurance policy options, speak slowly and clearly and walk them through the similarities and differences as compared to their current coverage. Using a PowerPoint presentation and high-level details can educate your customers in a way that is helpful and meaningful to them.

Common objections and how to handle them:

1. I don’t remember: If you speak to someone that doesn’t remember contacting your company through the website or speaking to you in the past, try your best to refresh their memory. However, if that doesn’t work, apologize for the confusion, and then go into the purpose of your call. Keep your tone polite but to the point. 2. I’ve never heard of you: When talking to sales lead, you must help them to trust you and your company. If your prospect isn’t familiar with your company, give a high-level overview of how many years it’s been in businesses, the number of customers it has, and all the benefits that come with having coverage at your company. Be informative but do not use an overly “sales-y” approach. 3. I’m not interested: This is a frequent objection heard by insurance agents. A good way to approach this roadblock is to be sensitive to their concerns while trying your best to educate them on why it’s in their best interests to listen to what you have to say. Educate your customers on how you can help save them money, or how you can help them to fill an important coverage gap that they need. Explain why listening to you is a worthwhile use of their valuable time.

4. I need to think about it: For those customers that say that they need to think about it and get back to you, there is clearly something that is stopping them from taking that final step. There comes a point in some conversations where speaking about the qualifications of your insurance agency or your personal credentials isn’t enough. In those cases, you could think of a story from your personal experience, or you can borrow one from a colleague, that explains the importance of why the potential customers need to make their decision as soon as possible. 5. I can’t afford it: Many families these days, including senior citizens, are on tight budgets. When your finances are low, every dollar counts, so some customer might be reluctant to purchase new insurance coverage. While this concern is valid, there are ways to close the sales while being sensitive to their concerns. Break down the expense into a monthly fee that is comparable or less than their cable or cell phone bill. This will help them feel as if the policy is affordable.

What ways work best when trying to discover the best way to overcome objections in insurance sales? How has Blitz helped your agency to overcome objections from customers? Our readers would love to hear from you. Please share your stories and post your questions by commenting below.