In this video, we discuss how to create a life insurance sales script.
Start with the product
The first step in creating a life insurance sales script is to brainstorm some of the main details about the product or policy in this case.
Whole life / Life insurance
Funeral & Final Expenses
Identify the value offered
Most salespeople focus primarily on the features of the product. To have a more powerful life insurance sales script, go one step further and try to talk more about the value that is offered by the product.
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
What pain points can the product help with
We like to focus our sales scripts on the pain points or challenges that the product can help address. For each value point from the previous step, there is usually an opposite pain point that can be decreased.
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
Think of good questions to ask
The key to having a good life insurance sales script is to have good questions to ask. One category of questions to ask is pain questions, and these are questions that probe to see if the prospect has any of the pain points that your product can help to make go away.
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?
It is also helpful to have current state questions in your life insurance sales script.
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?
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?
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?
We hope this gives you some good ideas for your life insurance sales script!