Below please find summaries of the Final Expense sales presentation along with a that show how an actual, optimal appointment should be conducted.
1. Tell them who you are, why you are there and what you plan to do for them:
Why you are there: I am here today becuase I received your direct mail card in the mail or because you spoke with one of my associates (telemarketer) on the phone or requested information on facebook about getting information on the cost of Final Expense insurance.
Who you are: What we do is try to educate seniors on some of the issues they are facing such as Medicare and the high costs of final expenses. I am an independent licensed agent (show them your license) which means I do not work for any one company in particular but I will work on your behalf to try and get you the best plans and pricing available. We represent companies such as Mutual of Omaha. Transamerica, Liberty Bankers Life and about a dozen other highly rated insurance carriers. By being part of this group I have access to just about every company licensed in the state.
What you plan to do: What I plan to do today is to show you what the average cost of final expenses are, whether its burial or cremation. Then I will show you some options that are available to you. If you like what you see, we will see what plans you qualify for. If you have any questions about Medicare, just remind me at the end of the appointment and we can set up a time to go over that.
2. Find the need: (Very Important, this will make the sale)
Address your prospect by name (Mrs. Jones, Mr. Smith, etc), I speak with people every day about burial insurance and Final Expense Life Insurance and I know there is only one reason that you would even talk with me about something like this. Well, 1 of 4 possible reasons.”
“The 1st reason is that maybe you have never pre-paid for your funeral or that you have no Life Insurance."
“The 2nd reason may be that you have a small life insurance policy but it’s not enough to cover the funeral, so you’re thinking about getting another policy, IF IT’S EASILY AFFORDABLE."
"The 3rd reason is that you have taken out life insurance to cover your funeral expenses for your loved ones but you want to compare programs to see if we can help save you money or offer additional benefits to you."
“The 4th reason is that maybe you already took care of your funeral arrangements and you are not really concerned with that BUT YOU WOULD LIKE TO LEAVE A LOVED ONE OR SOMEONE SPECIAL SOME MONEY WHEN YOU PASS AWAY (if you are with a couple then also mention "SPOUSE") because as you know, when there are 2 people living off of their social security checks and one of them passes away, there is only one check left every month to pay the same exact bills.”
“So, where do you fit into this?”
3. Go Over Average cost of a funeral or cremation:
Now Mrs, Jones, how much do you think final expenses cost today? Including Burial and memeorial services etc?
Use the material you have brought with you to the appointment and go over it together with your prospect.
Then explain how the government only pays $255 toward final expenses.
Ask your prospect who their beneficiary is and if they have ever paid for a funeral (both these questions bring out emotion because they don’t want their kids to pay for the funeral and by asking if they have ever paid for one, this helps them remember the great expense and possible hardship of paying for a funeral.)
Go over the Solution:
Stress Benefits never decrease or go away and rates never go up. Very important to your prospect
4. Figure out their health situation:
In order for me to give you the best options I need to get an idea of your overall health to see which plan is best for you.
Ask them what medications they take and what they are for. Then you ask how their overall health is. "Have you had any heart problems, or kidney, or liver or lung problems? If so, when?" You need to know when because most applications only care about the past 2 years or so. Go over with them the questions on the carrier's application.
5. Go over options with prospect:
Now, Mrs. Jones you told me earlier the reason you wanted me to come here today was________(use info from part 2) and the good news is it looks like you qualify for _________________. This is one of our best carriers. You qualify for (an immediate benefit plan or a graded plan) and then explain how it works. I usually write down 3 prices on my notepad. I try to match what I think they can afford. Once I write them down, I go over the prices and then hand them the sheet. I say, “Mrs. Jones, I want you to look over these three prices and you tell me which one is best for you?
6. Write the app:
At that point, all you have to do is ask for their personal information. “Ok, great, Mrs. Jones, I just need to gather some information and see if we can get you qualified. I have your date of birth as ____ and your address is___ , your SSN ___ and drivers license is ___”... until the application has been accurately completed.
Once you are in the door, be very casual and do your best to avoid the sales presentation for a few to several minutes. Get to know your client. Build rapport. Talk to them about the area in which they live, find out if they are retired and if so, what they did for work or what they do for work now.
Notice the room - pictures on the mantle, etc and make mention of them. Try to put your prospect(s) at ease. The goal is to establish a friendly rapport with them before segueing into your sales presentation. Chatting a bit with your prospects in the beginning of the appointment helps build some trust and communication so they are more receptive to what you have to say. Here are the steps: