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12 Tips on How to Sell Final Expense Over the Phone with Mike Shure

In our third episode of “The Heroes Huddle Podcast with Glen Shelton,” we are talking to
Mike Shure of Senior Insurance Solutions, and how he sells Final Expense over the phone as
opposed to face-to-face in the field. Like Matt Mungia who we interviewed in our previous
podcast, Mike is also a collaborator from our book, “How to Qualify, Present & Sell Final
Expense & Medicare Supplements to Seniors.”

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12 Tips on How to Sell Final Expense Over the Phone with Mike Shure

  1. 1. The Heroes Huddle Podcast with Glen Shelton 12Tips on How to Sell Final Expense Over the Phone
  2. 2. Mike Shure • Sales Director of Senior Solutions Insurance • Collaborator of my book, “How to Qualify, Present & Sell Final Expense and Medicare Supplements to Seniors” • Started in field sales, transitioned to phone sales, failed at it, and then came back to conquer it - like the movie Rocky II.
  3. 3. “12 Tips on How to Sell Final Expense Over the Phone” The Major Difference Between Selling in the Field and Selling Over the Phone is the Approach It’s harder to build rapport and cultivate trust over the phone because the prospect can’t see you to judge for themselves what you’re trying to show them.
  4. 4. “12 Tips on How to Sell Final Expense Over the Phone”• Tip #1: Have a blueprint or system that cultivates trust and ushers a prospect through the buying cycle by getting them to open up about the reason they: • Called you (TV Leads) • Asked for a call back (Telemarketing Leads) • Sent in the card (Direct Mail) • Filled out the form on the website (Internet Leads) • Tip #2: Fine-tune your communication skills by displaying authority and empathy and minimizing dead air by keeping the presentation flowing
  5. 5. “12 Tips on How to Sell Final Expense Over the Phone” • Tip #3: Don’t read the script, but internalize and actualize it. Don’t “just try to just get to the next page” • Tip #4: Immediately qualify their NEED by asking the 3 Who’s: • Who they are • Who they’re looking for coverage for • Who is the beneficiary that inherits the proceeds from the policy
  6. 6. “12 Tips on How to Sell Final Expense Over the Phone” • Tip #5: Review the purpose of the policy (their reason) with them: “You want this in place for little Johnny, you don’t want him to be financially burdened.Johnny’s going to thank you in the end for doing this.This is what you need to do today to make sure that everything’s taken care of.” “And you know what, Mrs. Jones? Once you get it done you’re probably sleep better at night knowing it’s all done.God forbid if anything happened to you, everything’s taken care of...”
  7. 7. “How to Qualify, Present & Sell Final Expense & Medicare Supplements to Seniors” For more scripts like these, check out my book:
  8. 8. “12 Tips on How to Sell Final Expense Over the Phone” • Tip #6: Qualify the BUDGET carefully: • Don’t quote too high • Everybody’s got a budget, so ask for it • Highlight the flexibility of coverage by stressing that any coverage is better than none – which keeps the conversation flowing • Tip #7: Cultivate a strong work ethic by launching hard into Monday, which is a spring board for the rest of the week
  9. 9. “12 Tips on How to Sell Final Expense Over the Phone” • Tip #8: Focus on activity and measure your metrics: Number of Dials VS Talk Time • Tip #9: Buy a MINIMUM of 25 leads consistently every week to meet activity goals • Tip #10: Pick a schedule, treat it like a job, and use your metrics to hold yourself accountable to the schedule
  10. 10. “12 Tips on How to Sell Final Expense Over the Phone” Here is how Mike’s Numbers break down: • 125 outbound dials to leads per day = 4 hours of talk time • 4 hours of talk time = 10-15 presentations • 10-15 presentations = $2,000 in Annual Premium (AP) • 5 days a week = $10,000 in AP or $500,000 in AP a year!  Mike’s inbound lead closing ratio is 1-in-4 or 1-in-5
  11. 11. “12 Tips on How to Sell Final Expense Over the Phone” • Tip #11: Have everything you need to qualify someone in minutes always accessible: • Quoting Rates • Applications with Underwriting Guides • Prescription Decline Lists • Tip #12: Educate the prospect on why you chose the company, whether it’s because of their health or because you were able to shop multiple companies and find the one with the lowest premium
  12. 12. “12 Tips on How to Sell Final Expense Over the Phone” THE FUTURE TREND FOR LIFE INSURANCE AND SPECIFICALLY FINAL EXPENSE SALES IS… TELESALES Because the ability to know an underwriting decision instantly will help agents not only keep more business from falling off the books, but write more apps in less time.
  13. 13. Findmoreresourcesonoursite @ www.LeadHeroes.com Besuretocheckoutwww.srinsurancesolutions.com The Heroes Huddle Podcast with Glen Shelton

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