How is Life Insurance Selling Like Fishing?

Discover a Simple Way to Help Increase Your Sales by 35% - according to North American Company

Dropping a line in the water to fish is generally considered a relaxing activity. It can be rewarding, but it takes persistence. That persistence sometimes pays off at the end of a long day—when you decide to cast out one or two more times. You may even switch the bait. Often times those last few casts can bring in the most rewarding fish. Persistence can also pay off for your life insurance sales, too. Let’s take a look at how you could increase sales up to 35% and probably without spending a dime.

According to a new report from LIMRA, 35% of prospects who met with a sales representative wanted to be contacted again.* The study shows that these people were simply still deciding on whether to buy the solution offered or to consider an alternative. The key takeaway is that these prospects wanted to buy, but their representative never bothered to call back.

Have you ever left an appointment feeling that the prospect needed and wanted the life insurance you presented, but for some reason didn’t purchase? Did you feel frustrated? Did you happen to follow up with that prospect?

Putting yourself in front of enough qualified people is arguably the most challenging aspect about the life insurance business. A lot of money is spent trying to get in front of more qualified prospects. You can improve your success by simply approaching your qualified non-buyers one more time.

It’s time to cast out one or two more times. Pick up the phone and try a new approach with perhaps a different product. You know the prospect needed the life insurance, but maybe the premium was too high or the potential cash value wasn’t projecting high enough. By refreshing your approach you could land an extra 35% more sales. Drop a line and give it a try today!

*To Shop or Not to Shop for Life Insurance: Turning Shoppers Into Buyers, Life Insurance Marketplace Research Association, LIMRA, 2011

Welcome to MVP's New Blogger

We think of our blog as an extension of our bi-weekly newsletter, News2Use, and just one more way for us to communicate our message to the masses. Join in the Brokerage Insight$ conversation by telling us your thoughts on what we blog about and make suggestions for what you think we should be blogging about.

We have been blogging since 2008 and have had some great feedback from agents and carriers along the way. View what you have been missing: http://mvpblogger.blogspot.com/.

Stay tuned to our new blog for future posts.