Life insurance
Sales Assessment Results
50
Needs Improvement
10 questions
Maximum score: 100
Completed in
Your performance on the test reveals some significant areas for improvement, particularly in addressing prospect concerns with empathy and depth. The strongest technique you've shown is a basic understanding of emotional connection, which is seen when you relate policies to personal values. Yet, your responses often lack the necessary detail and curiosity to truly engage prospects and address their specific needs. A consistent pattern is your tendency to overlook the importance of tailoring solutions and actively listening to the prospect's concerns, which leads to simplistic answers that miss the mark.
To elevate your game, I recommend diving deeper into solution-focused selling and consultative selling techniques. These approaches will help you ask the right questions and provide tailored solutions that genuinely resonate with the prospect's circumstances.
Here’s your coaching moment: remember that every prospect is not just a number or a transaction but a person with unique needs and fears. Approach every conversation with curiosity and a genuine desire to understand their perspective. This shift in mindset can transform your sales approach from transactional to truly consultative, and it will make all the difference in your results.
Question Breakdown
1.
2
/ 10Question:
"I'm worried about how the premiums will fit into our existing budget, especially with our current financial commitments."
Answer:
I’m glad you’re taking this serious because we want to set you up with a policy that you can keep. The only type of life insurance that matters is the type that is in effect when you pass.
Feedback:
The response fails to directly address the prospect's concern about fitting premiums into their budget. It lacks empathy and doesn't explore the financial implications or offer any solutions. A more effective approach would involve asking questions about their budget and discussing flexible payment options. The tone comes off as dismissive rather than supportive, which is crucial in the life insurance industry. Overall, the answer does not demonstrate a solution-focused approach or active listening to understand the prospect's perspective.
2.
5
/ 10Question:
"With so many options available, how can I be sure that your policy offers the best value compared to others?"
Answer:
Other families asked the same question and what they found was that because I work with the top A rated carriers and provide policy details up front, it’s easy to find the right product for your needs.
Feedback:
This response attempts to leverage social proof by referencing other families, which is a good start. However, it still lacks depth in addressing the specific concern of best value. It does not compare the offered policy with competitors or highlight unique benefits that differentiate it from others. Instead of just stating that the top A-rated carriers are used, the salesperson should explore what aspects of those policies provide better value, such as cost, coverage, or customer support. Additionally, asking questions to uncover what the prospect values most in a policy would create a more engaging conversation and demonstrate active listening. Overall, the answer could benefit from a more personalized approach that connects more directly with the prospect's values and priorities.
3.
2
/ 10Question:
"I need to ensure that our HR and legal teams approve this before moving forward; how do we handle that?"
Answer:
Are they available to talk now?
Feedback:
This response is overly simplistic and does not adequately address the prospect's concern regarding the need for HR and legal team approval. It fails to acknowledge the importance of these stakeholders in the decision-making process or offer any guidance on how to facilitate that approval. A more effective approach would involve asking open-ended questions to understand the approval process better and offering to provide any necessary documentation or information that could help ease the discussions with HR and legal. Additionally, considering the prospect's perspective and showing an understanding of their process would improve the response significantly. Overall, the response lacks depth, curiosity, and a collaborative approach that is essential in the life insurance industry.
4.
6
/ 10Question:
"We have a tight timeline for our project, can your solution be implemented quickly without disrupting our current operations?"
Answer:
Absolutely, we work with your team and customize the install to ensure that the day to day operation has minimal interruption.
Feedback:
This response addresses the prospect's concern about a tight timeline and disruption to operations but lacks detail. While it communicates a willingness to collaborate, it does not provide specific examples or a clear plan for how the implementation will be executed quickly and smoothly. It would be more effective to explain the steps involved in the customization process and perhaps share testimonials or examples from previous implementations that highlight efficiency and minimal disruption. Additionally, asking the prospect about their specific timeline and expectations would demonstrate curiosity and a more tailored approach. Overall, the response could benefit from more depth and clarity to reassure the prospect fully.
5.
5
/ 10Question:
"What happens if my needs change in the future? Is there a way to adjust the coverage without penalties?"
Answer:
The policy we’re looking at is going to be locked in, meaning the amount you pay is never going to increase and the benefit will not decrease. How life insurance works is that it takes your age and health into consideration . What my other clients have done is add additional policies if needed.
Feedback:
This response provides some valuable information by explaining that the premium and benefit are locked in, which could reassure the prospect about their current situation. However, it fails to directly address the prospect's concern about future needs and making adjustments without penalties. It would be more effective to explain the options available for adjusting coverage, such as riders or conversion options, and how those adjustments could be made in a penalty-free manner. Additionally, offering to discuss specific scenarios or encouraging the prospect to express their future concerns would demonstrate better active listening and a more solution-focused approach. Overall, the answer lacks clarity on future adjustments and does not fully explore the prospect's evolving needs.
6.
6
/ 10Question:
"I'm not convinced that the benefits really justify the costs; can you elaborate on the return on investment for your policy?"
Answer:
I know that you love your wife, John, I can tell by the way you’re talking about her. I’m the event you were to pass away as the primary bread winner, she would not be able to afford the mortgage and be faced with some tough decisions, on top of grieving the loss of her husband. If you knew the $135 a month premium would save her from the hardship of downsizing and selling the family home that would make sense, right?
Feedback:
This response effectively personalizes the conversation by connecting the policy to the prospect's love for his wife, which can create emotional resonance. However, it doesn’t directly address the prospect's concern about the return on investment. While it touches on potential hardships, it lacks concrete data or comparisons that illustrate the policy’s financial benefits or unique selling points. To enhance the response, it would be beneficial to provide specific examples of how the policy can protect against financial risks and clearly outline the long-term value compared to the costs. Additionally, asking a follow-up question to gauge John's thoughts on the importance of securing his family's financial future could foster further engagement. Overall, while the emotional appeal is strong, the response needs more focus on the financial justification for the investment.
7.
6
/ 10Question:
"Given the recent changes in regulation, how do you ensure compliance with all legal requirements?"
Answer:
The insurance industry is one of the most regulated industries in the world. I understand why you would be concerned, and I assure you that Mutual of Omaha and it’s lawyers have taken every precaution to make sure that the policy we are putting in place today are compliant.
Feedback:
This response acknowledges the prospect's concern about regulatory compliance, which is a positive step. However, it lacks depth in explaining specific measures taken to ensure compliance. While mentioning that the industry is heavily regulated is informative, it would be more effective to provide specific examples of compliance protocols, ongoing training for staff, or regular audits. This would demonstrate a thorough understanding of the regulatory landscape and build confidence in your approach. Additionally, inviting the prospect to ask more questions or share specific concerns about compliance could enhance engagement and show a collaborative attitude. Overall, while the response is on the right track, it needs more specific details to fully reassure the prospect.
8.
6
/ 10Question:
"We've had a bad experience with a previous insurer; how do you guarantee better service and support?"
Answer:
John I hear this regularly from the families I meet with. If I had a bad experience I would be concerned too. What I can do is provide for you some references of clients that I have taken care of, and you can see some of the testimonials on my website as well.
Feedback:
This response acknowledges the prospect's concern about previous bad experiences, which is a positive start. However, it lacks a proactive approach to guarantee better service and support. While offering references and testimonials is a good tactic to build credibility, it would be more effective to elaborate on specific practices your organization employs to ensure superior customer service, such as dedicated support teams, regular follow-ups, or personalized service plans. Additionally, inviting the prospect to share specific details about their past experience could help tailor your response and demonstrate a deeper understanding of their concerns. Overall, while the acknowledgment is good, the response could be strengthened by providing more concrete assurances and engaging the prospect in a dialogue about their expectations.
9.
7
/ 10Question:
"Is there any hidden fine print that could affect our coverage down the line?"
Answer:
What I love about working with Mutual of Omaha and this simplified issue policy is it’s transparency. We will go through all policy details together, and won’t proceed until you understand it in its entirety.
Feedback:
This response effectively addresses the prospect's concern about hidden fine print by emphasizing transparency and a willingness to explain policy details. However, it could be strengthened by explicitly acknowledging the common concerns around fine print in insurance policies, which would demonstrate empathy and active listening. Additionally, providing an example of how Mutual of Omaha ensures clarity or discussing specific elements that are commonly misunderstood might reinforce trust. Engaging the prospect with a follow-up question about their previous experiences with fine print could also enhance the conversation. Overall, while the approach is positive, it could benefit from deeper exploration and connection to the prospect's perspective.
10.
5
/ 10Question:
"I need to see a clear comparison of how your solution stands against the competitors we're considering."
Answer:
Perfect! What I have here is a list of the top 3 benefits of each of the three policies we’ve discussed today. The beauty of life insurance is that each policy and carrier has their own unique benefits, but ultimately it’s what is important to you and your family.
Feedback:
This response attempts to provide a solution by offering a list of benefits for the policies discussed, which is positive. However, it lacks a clear comparison between your offerings and those of competitors, which is essential given the prospect's request. Simply stating that each policy has unique benefits does not address their specific need for a direct comparison. It would be more effective to detail how your policies stack up against competitor offerings in terms of coverage, costs, and additional features. Moreover, explicitly inviting the prospect to share what specific aspects they're most interested in comparing would demonstrate curiosity and better align your response with their needs. Overall, the answer could be significantly strengthened by being more focused on the comparison aspect.