When you visit potential insurance leads to give them a quote, you’re mainly trying to get a deal on a policy. But getting the deal is only part of it; you’ve got to make sure your customer keeps their deal, so you don’t end up with a chargeback or a cancellation. Here are a few simple tricks I use during quote appointments to secure my deals.
In my pitch, I use a few lines to identify possible obstacles to approving an applicant. I’ll ask them if there’s anything that might make it difficult to qualify, such as any major medical conditions. I also ask, “Have you had a life insurance policy in the past that you either canceled or didn’t keep up the payments and lost?” If they say no, great! But if they say yes, I let them know that this makes approval tougher, and that there’s a chance their application will be declined. I ask if I can put down that they’re in a different situation now and that they promise to keep up payments if they’re approved. This helps give the carrier a realistic expectation of the approval process.
Explain As You Go
I also like to explain each step of the application to the carrier as I fill it out. It’s more professional, and it lets them see that this is a real qualifying process. Some agents prefer to ask a few questions and then fill out the application on their own without the clients seeing or understanding. But I feel that the easier it seems it is to qualify, the less value there is in getting approved, and applicants won’t take the deal as seriously.
Let Them Know You’re Local
I like to tell clients that I’m local and in their area often. I let them know that I might drop by and check up on them once in a while. When customers know you’re close and in their area, they feel a more personal connection to you. This makes them feel more secure in the transaction.
At the end of the meeting, I like to give clients a receipt. It’s a little document I made myself to help clients remember key information and feel more secure in the application process. You can find my video on the receipt and a link to download one for yourself here. I fill out the receipt with the date and client’s name, my name and phone number, and I put down the premium amount and the day the first payment will be drafted, so there’s no surprises. I have the client sign it, then I take a picture of the receipt and leave it with them. I like to put it on their fridge with a magnet, so they don’t lose it. This receipt makes a world of difference when it comes to keeping deals. We do a lot of our work on iPads, and to the people of older age groups that we often work with, digital signatures just don’t feel as real as signing something with a pen and paper. Having a physical receipt of our meeting helps them feel like they made a real, authentic commitment.
Once the receipt is signed and on the fridge, I make an appointment with the client for a follow-up call in a few days. I ask for a specific time, and make sure they write it down somewhere they won’t forget. I also ask that they program my number into their phone contacts, and I do the same for their number. Finally, I get a verbal commitment from them that they’ll pick up when I call. All these steps are important to solidifying the deal, and the customer feels more secure knowing that I’m serious about following up with them.
After the Meeting
When I get home that night, I do one more thing to demonstrate my commitment to the customer. I write out a handwritten personalized thank you note and put in the mail the next day. I want them to have received it just before our scheduled follow-up call. This serves as yet another reminder to expect my follow up with them. And then, of course, I make sure I do that follow-up call.
As you can see, it takes a lot of work to really drive home a deal, but it’s worth it to know that your customer feels good about the conversation and that they’re more likely to keep the commitment they made.