Tips for Insurance Cold Calling

Tuesday, December 20, 2011 by

Insurance cold calling presents unique challenges. Much of this is because life insurance is something that must be sold. Few people ever willingly want to buy life insurance, because it’s not “fun” – it’s just another monthly expense for people.

As a result, it can be one of the more challenging things to sell, especially in the process of sales prospecting, so here are some life insurance cold calling tips:

There are some good lead sources for insurance cold calling:

1. Marriage announcements in your local paper
2. Birth announcements in your community
3. Job promotion announcements in the Business Journal
4. New business mergers or IPOs

Approach each of these types of leads differently when cold calling for insurance.

My first cold calling tip relates to the first category. A newlywed will be receptive to protecting his or her spouse if the worst happens, giving that person the means to pay for the house and cars and much more.

The second category is easier to sell to, because everyone naturally loves their new baby more than anything in the world. So talk about protecting that little child so it can live comfortably, and eat well, and have a college education paid for if the unthinkable happens.

The third category is usually a successful, professional type of person who is advancing rapidly in career and will want to think about building a solid foundation for the future, which of course must include life insurance.

Finally, remember that big business deals usually cannot take place without key person life insurance, so remember that when cold calling for big life insurance policies. Of all insurance cold calling tips, this is the one that is probably most overlooked when the typical new, rookie agent is instructed to make the usual list of 100 people you know and then try to call all of them to sell a policy.

Of course we all know that insurance companies do this because they know that life insurance sales has a high turnover rate, so they want you to get as many applications and policies as possible in a short time in order to make sure that you are a profitable hire for them in the event that you quit. However, this is a very short-sighted strategy for the agent, who need to be looking at a bigger picture, and especially at key-person life insurance because that’s where the big money is.

Use these simple tips to enjoy more success with insurance cold calling!

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