Last year was an unusual year. Many people suffered, from business owners to employees who lost their jobs. Some small businesses had to shut down, which ended in them closing their doors for good and laying off their employees. All of this means that many Americans are facing hard times financially, so you might find that selling insurance is challenging right now. But we have some tips to help; after all, people still need insurance. You can help them, as long as you approach each sale with care and offer ways for customers to save.
Address The Importance Of Insurance
When selling during tough times, you need to make clear to your prospects just how important insurance is to their health and well-being. Help them to understand the possible consequences of going without insurance. Create different scenarios to illustrate your point. Remember, though, the goal is not to scare them into a sale, but rather to help protect them from the unexpected.
One way to highlight the importance of insurance to your prospects is to show them that not having insurance can lead to financial risk and loss for everyone, whether it is a business owner who chooses to cut back on commercial insurance, or an individual choosing to opt out of health insurance. A business owner who forgoes insurance can jeopardize their business, because all it takes is one lawsuit to lose everything they have worked for. An individual who chooses to remain uninsured can end up in medical debt if they have an accident or develop a chronic condition. Again, approach the matter with care and compassion, and make it clear that you are not trying to scare them, or they might feel like they are being bullied into a sale.
Look for Discounts
If current customers are thinking of cancelling a policy, or changing to a cheaper plan, sit down with them and see if you can find any discounts available for their current plan. There might be some discounts that you can apply that will help lower costs. For business owners, let them know that they might be able to save money by bundling their insurance policies. Even saving your client a small amount of money such as $5-10 can make a difference to them!
Suggest a Higher Deductible
If a customer is struggling to pay their monthly premiums because of financial issues, the easiest way to help is by suggesting they go with a plan with a higher deductible. High deductible plans will have lower monthly premiums, which can help them save more money each month, as long as they do not have an accident which will require them to meet their high deductible.
The COVID-19 pandemic has not only caused hardships for business owners and their employees, it has also caused hardships for agents. But if you follow the tips provided, and help people prioritize insurance, then you can succeed during these tough times.
Remember, if you’re looking for leads, one way to guarantee you’ll find them is by working with Benepath! Hundreds of leads looking for all types of insurance fill out our online forms everyday, and after they fill them out, we immediately transfer calls to our agents. Our leads are exclusive and offered in real-time, which sets us apart from other companies. Not only do we offer exclusive real-time leads, but we will even create a thank you page for you. This way leads know exactly who they are about to speak to before the call is transferred! To find out more, fill out your information on the bar to the side, or call 866-368-0377.