Life insurance
Sales Assessment Results
29
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let's cut to the chase: your performance in this test was underwhelming, and it shows you've got some serious work to do. Your scores barely scraped the bottom of the barrel, averaging a meager 2.9. You've demonstrated some awareness of customer concerns and a few effective techniques, but overall, you're not hitting the mark. Your strongest moments came when you attempted to engage with customer objections, but even those lacked depth and a consultative approach. You need to focus on honing your ability to build rapport and explore the value of your offerings more thoroughly.
Repeatedly, I noticed a trend of vague responses and a lack of follow-up questions. This is a red flag in sales — you can't leave customers feeling like they're in a fog. You must dive deeper into their concerns and demonstrate empathy and understanding. Your responses often felt abrupt or overly casual, which can come off as dismissive. This needs to change.
I suggest you study up on SPIN Selling and Consultative Selling. These techniques will equip you to ask the right questions and engage in meaningful dialogue with your prospects. They’ll help you uncover the real issues and build stronger customer relationships.
Here's your coaching moment: remember that every objection is an opportunity. Instead of shutting down the conversation with vague responses or a simple 'no,' turn that moment into a chance to explore deeper needs and concerns. Ask questions, listen intently, and show genuine interest in your prospects' situations. If you can master this, you'll be well on your way to transforming your sales approach. Now, get out there and start turning those weaknesses into strengths!
Question Breakdown
1.
4
/ 10Question:
"I'm concerned about how this life insurance policy will impact my budget, especially with other financial commitments on the horizon."
Answer:
I hear you, quick question other than the financial concerns.. do you have any other concerns when it comes to investing into life insurance?
Feedback:
The response does acknowledge the customer's concern about the financial impact, which is good. However, it fails to address the specific budgetary concern directly. Instead of asking about other concerns, the salesperson should have explored the financial implications further, perhaps by utilizing the SPIN Selling method to ask questions about the customer's current financial situation and priorities. This would have shown more empathy and understanding of the customer's situation. Overall, the response lacks depth and does not effectively engage with the customer's specific objection, which could lead to a missed opportunity for further discussion.
Score: 4
2.
6
/ 10Question:
"Given the current economic climate, how can I be sure your company will remain stable and secure for the long term?"
Answer:
Great question, what most of my clients really like about Mutual of Omaha is that they been around over 100 years and have weathered a few storms already.
Feedback:
The response effectively addresses the concern by referencing the company's long-standing history and stability, which is crucial in the life insurance industry. However, it could be improved by providing more specific details about the company's financial strength or ratings from reputable agencies, which would further reassure the prospect. Additionally, while the tone is generally positive, it could benefit from a more empathetic approach to acknowledge the prospect's feelings about the economic climate. There is no closing technique or follow-up questions to further engage the client and explore their specific concerns. Overall, it demonstrates some effective communication but lacks depth in exploring the value and reassurance the prospect is seeking.
3.
6
/ 10Question:
"My team has already expressed hesitance to change providers; how do you ensure smooth transitions and buy-in from everyone involved?"
Answer:
I understand how you feel Jim, in fact most of our clients asked the same question but the reason they chose us is because of the simplicity of our process. We have a full time fulfillment team that is strictly dedicated to make the transition smooth. So other jim other than ensuring a smooth transition, what else would you guys need from us in order to make sure everyone’s ok moving forward?
Feedback:
The response does a decent job of acknowledging the prospect's concern about change and highlights a specific benefit (the fulfillment team) that addresses the smooth transition. However, it could improve by explicitly validating the prospect's hesitance and providing more concrete examples of how the transition has worked for other clients. The use of 'other Jim' might come off as informal and could risk losing professionalism in this context. Asking what else they need is a positive step towards discovery, but it lacks a stronger closing technique to guide toward the next steps in the conversation. Overall, there is potential here, but it needs refinement to better engage the prospect's concerns and build rapport.
Score: 6
4.
5
/ 10Question:
"What makes your policy stand out from competitors, especially when it comes to returns on investment?"
Answer:
That’s a great question and I’m glad you asked. When it comes to life insurance everything is based off your health and age and for your specific health conditions, and budget this company makes the most sense because it’s the only you qualify for that’s affordable. I’m also a broker; so I can see all your options available based off of your risk factors. So like; if you knew this was the best plan for you, is there any other reason why we shouldn’t move forward to see if you even qualify? The great news is they give us 30 days to think about it, today’s just an application. Who would you like your Beneficary to be?
Feedback:
The response does address the objection by highlighting the salesperson's role as a broker and the customized options available based on the prospect's health and budget. However, it could have been more effective by explicitly comparing the policy's features, benefits, and potential returns to those of competitors, which is crucial in the life insurance industry. The closing technique employed is somewhat assumptive, which can be effective, but it may come off as too pushy without thoroughly exploring the prospect's concerns or building rapport. Additionally, the response lacks curiosity and discovery elements, as it doesn't ask any follow-up questions to dive deeper into the prospect's needs or concerns. Overall, while there are some strong points, the response could be improved in terms of clarity, value exploration, and a collaborative approach.
Score: 5
5.
4
/ 10Question:
"I feel overwhelmed by the number of options available; can you simplify the decision-making process regarding your offerings?"
Answer:
Yes absolutely, let’s start by seeing why you need this coverage. Don’t need to for just a burial or don’t need money to leave behind to family as well?
Feedback:
The response attempts to address the prospect's concern about feeling overwhelmed by focusing on the reasons for needing coverage. However, it lacks clarity and could create confusion rather than simplify the decision-making process. The salesperson should have taken a more consultative approach, asking questions that clarify the prospect's specific needs and preferences while offering to explain the options in a simplified manner. The tone is somewhat abrupt, and it does not engage the prospect in a collaborative way to explore their situation. Overall, the response could benefit from a clearer structure and a more empathetic tone to build rapport and effectively guide the prospect through their options.
Closing techniques or a summary of value were absent, and there was a missed opportunity for active listening and curiosity in exploring the prospect's needs further.
Score: 4/10 for lack of clarity and engagement in the response.
6.
2
/ 10Question:
"How does your company plan to support me post-purchase to ensure I’m maximizing the benefits of this life insurance?"
Answer:
Anual reviews
Feedback:
The response is quite lacking in detail and does not effectively address the prospect's concern about post-purchase support. Just stating 'annual reviews' is insufficient; it doesn't explain how these reviews will help maximize the benefits of their life insurance. A more robust response could include mentioning additional support like personalized assessments, ongoing education about policy changes, or dedicated customer service. The tone is neutral, but it could benefit from a more engaging and reassuring approach to build trust. Overall, this response fails to demonstrate a solution-focused approach or explore value effectively, leading to a missed opportunity for deeper engagement.
Score: 2/10 - It's like trying to sell a life raft with just a single hole in it; it’s not going to inspire much confidence!
7.
0
/ 10Question:
"I worry about whether our stakeholders will approve this expenditure without a clear demonstration of long-term value."
Answer:
Damn
Feedback:
It seems like the response was a bit too casual and doesn't address the prospect's concern at all. Using just 'Damn' shows a lack of engagement and understanding of the objection. In a life insurance context, stakeholders need reassurance on value and long-term benefits, so a more thoughtful approach is necessary. A better response would involve discussing how the product can provide long-term financial security and potentially framing the investment as a way to protect their stakeholders' interests. Overall, this response lacks effectiveness, clarity, and a solution-focused approach.
8.
0
/ 10Question:
"Can you provide insights into how long the implementation process typically takes and any hidden costs that might arise?"
Answer:
No
Feedback:
Well, that was as helpful as a screen door on a submarine! A simple 'no' doesn't provide any value or address the prospect's concern. In life insurance, transparency is key, especially regarding implementation timelines and costs. You should aim to offer a detailed response that reassures the prospect and invites further questions. Next time, try turning that 'no' into a conversation starter!
9.
2
/ 10Question:
"What happens if I decide to switch providers again in a few years? Will I face penalties or complications?"
Answer:
No
Feedback:
The response is far too simplistic and lacks depth. It doesn't address the prospect's concern about potential penalties or complications in detail. Instead of just saying 'No,' it should have provided reassurance about the flexibility of switching providers, explained any relevant terms or conditions, and highlighted the benefits of staying with the proposed solution. A more engaging approach could have included asking the prospect about their past experiences with switching providers to better understand their concerns. Overall, this response misses the mark on effective objection handling and fails to build rapport or explore the value of the offering.
For future responses, consider adopting a more consultative approach by addressing the concern fully and inviting further discussion.
10.
0
/ 10Question:
"I'm not sure if we even have a pressing pain point that necessitates a change right now."
Answer:
Oh
Feedback:
The response "Oh" is far too vague and does not address the objection at all. It lacks engagement, curiosity, and any effort to explore the prospect's situation further. A more effective approach would involve asking follow-up questions to understand their current situation and pain points better, demonstrating active listening and a solution-focused mindset. It's crucial to establish rapport and help the prospect see the value in considering change, even if they don't perceive a pressing issue right now. Overall, this response misses the mark completely.