There’s no shortage of challenges associated with selling final expense insurance. It’s not a subject that leads are usually ready to discuss.
In addition to the typical sales process, you must discuss a challenging topic with prospects who don’t generally want to think about their own death.
Fortunately, when you have a final expense sales plan to lean on, it’s easier to connect with, engage, and educate prospects. And when you do that, there’s a greater chance of exceeding your sales goals. Let’s look at our top five tips for creating your sales plan.
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1. Identify your audience
It’s easy to get ahead of yourself, but you shouldn’t do anything until you identify your target audience. Remember, your sales plan doesn’t matter if you’re targeting the wrong prospects.
Three general final expense audiences:
- Individuals who have nothing in place but want to protect their families.
- Individuals who have some coverage but not enough to cover all final expenses.
- Individuals who have some coverage but want to add more as a gift to their loved ones.
You can then drill down further based on details such as location and age.
2. Make a list of conversation starter questions
The most difficult part of selling final expense insurance is getting your foot in the door. Even if a prospect is qualified, it doesn’t mean they’ll chase you down to buy a policy.
A solid list of conversation-starter questions can help you break the ice. Here are some ideas to consider:
- Who is your beneficiary?
- Are you planning a traditional burial or a cremation?
- Are you familiar with the expense associated with burial and cremation?
- Have you ever helped pay for another person’s funeral expenses?
- Are you familiar with additional expenses that can come to light upon your passing?
The more prospects you speak with the more you’ll understand which questions resonate with your target audience. You can then use those to guide your conversation.
3. Create a customizable sales script
The sales script that you use for one prospect may not be identical to the one you use for another prospect. That’s why it’s important to create a customizable script that can act as the foundation for everything else you do.
Hi [lead’s name], it’s [your name] calling from [your company].
I received your contact information from [source] and wanted to see if you have a moment to talk about final expense insurance.
Our policy offers up to $50k in coverage, affordable premiums, no medical exam required, and guaranteed acceptance for those aged 50-85. Based on what we’ve discussed, would you like to learn more about the specifics and costs involved?
There are times when you can use this script as-is. There are also times when you can tweak it to better match your audience. Don’t be shy about letting your creative juices flow. You don’t want to sound like a robot. A conversational approach with a customized script is much better.
4. Develop a sales cadence
Developing a sales cadence is a critical component of your sales strategy. When it comes to selling final expense insurance, there are several steps you can take to create a comprehensive sales cadence that will help you close more deals.
Start with an email drip campaign
An email drip campaign can help re-engage potential clients who may have expressed interest in the past but haven’t taken any action yet. The emails should be personalized and informative, highlighting the benefits of final expense insurance and how it can help protect their loved ones.
Use a light calling strategy
A light-calling strategy that involves leaving voicemails for potential clients. A well-crafted voicemail script can help you convey your message effectively and entice them to learn more about your final expense insurance policies.
Remember to keep your tone professional yet friendly and be sure to follow up with an email or text message.
Introduce text messaging
Once you get a positive response from a potential client, introduce text messaging to make the relationship more personal and familiar.
Text messaging can help you build trust with potential clients and make it easier for them to communicate with you. Many prospects prefer texting over speaking with you on the phone.
Tip: text messages should be concise and to the point.
Set up a lead management system that automates all of your follow-up tasks. This can help you spend more time on appointment setting and sales calls, rather than administrative tasks.
Your lead management system should help you track your progress, prioritize your leads, and streamline your workflow.
5. Track your progress
There’s no way of knowing what is and isn’t working if you don’t track your progress. Neglecting this step can cost you time and money while holding you back from generating more sales.
As you collect more data, you can adjust your approach and optimize your sales strategy based on your findings.
Other reasons to track your progress include:
- To keep you motivated and focused on your short and long-term goals.
- To measure your success and celebrate your accomplishments.
- To understand the overall health of your business.
Tracking your progress is an essential aspect of being a successful final expense sales agent. Don’t make any assumptions. Instead, track every inch of your progress.
Final word on final expense sales plans
Your final expense sales plan is only as good as your pipeline.
For that reason, it’s critical to maintain a full pipeline of qualified, targeted leads. If you’re lacking in this area, consider Aged Lead Store.
- Our leads are qualified.
- Our leads are affordable.
- We provide many advanced filtering options.
With our help, you’ll find yourself connecting with more leads, selling more policies, and generating more income.
Create an Aged Lead Store account or contact us with questions today.
Photo by Mikael Blomkvist
