Do You Trust Your Life Insurance Agent?

I wrote this post the summer of 2016, a much simpler time in our country. The problem I addressed then is still around and just adding to the challenges our nation faces. I am updating this post because the fundamental question of who you trust always needs to remain fresh on our minds and in our decisions. All the best.

Has Your Trust Been Earned?

It’s 2020! A year that will be remembered forever. A year when we have all been called on to trust what we’re being told, often from sources that are so polar opposite and so adamant that they alone are right. During all of this tumult we are also being asked to make life changing choices about simpler things, or are they really simpler?

In my 20+ years in helping people with life insurance I have always put my clients interests first and in my experience clients want to keep from busting their budget. They want the life insurance for family or business protection but don’t want to be stressed about keeping it in force.

Or Have You Been Betrayed?

There is no reason to tread lightly here. Far too many life insurance agents are trained to “close the deal” on life insurance products that are not the best option for you. The last time I did this I got a not so friendly letter from the Merle Gilley’s attorney suggesting I get off his case, OR ELSE. Merle Gilley purports to have the answer, not only to your quest for life insurance, but to your entire financial future. Just trust him to squeeze your budget past the breaking point by putting every penny into indexed universal life insurance, a product that the Wall Street Journal has proclaimed in no uncertain terms, buyer beware. In a January 7 WSJ article a life insurance consultant who reviews insurance policies often at the behest of family attorneys is quoted “An indexed universal-life policy is “often postured as an investment vehicle where you can’t lose…..Unfortunately that’s not true.” Look up indexed universal life in the WSJ and note the total lack of success stories. And remember that agents are being trained to drain your bank account to buy into it.

So today we hear from Mike at Rapid Learning Updates on “The Psychology of Sales Language: Coaching your reps on what to say to get the sale.” Notice it didn’t say what to do to earn the sale or the Psychology of Explaining and Believing in Guarantees. It’s all about sales psychology. Psychology always raises the red flag for me as in reverse psychology, or getting someone to do something they really didn’t want to do by suggesting they look at it in a completely different way. In the case of sales the truth is that the completely different way isn’t always up front and honest and/or best for the client. It is simply a sales tool.

So how do these people view you as potential valued customers? How do they feel about you as fellow human beings? Are they putting the sale before you or do you believe that they really know better than you what you need and at what speed you should decide to buy it? Here’s a brief overview Rapid Learning’s itinerary:

What will I learn from Rapid Learning?

What holds sales reps back from saying what they need to say to move the sale forward
7 key phrases that every salesperson should know
What research can tell us about why these phrases are so powerful
An easy-to-implement model that you can use to coach your reps on effective sales language

What if we turn that around and ask?

How much money does a rep make if they can overcome that urge not to push for the sale or really put you before them?
What would happen if there were 7 key phrases to assure the client you understand what it’s like to be on their side of the table?
What can research tell us, not about powerful phases, but moral and friendly phrases?
Is there an easy to implement model to coach your reps in the “do unto others as you would have them do unto you” way of thinking?

Bottom Line

If you aren’t being treated well in the sales process now, it won’t get any better. Once the sale is done your life insurance agent will feel empowered to drive you in whatever direction they feel is best for them, not you. They will choose to offer ongoing customer service only if it benefits them, not you, and if it doesn’t benefit them they won’t do it at all. If you have questions or want to get another take on what your agent is proposing, call or email me directly. My name is Ed Hinerman. Let’s talk.