Life insurance
Sales Assessment Results by Everett
55
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let's get real: your performance in this test shows some solid foundations, but there are clear gaps that need addressing. You demonstrated a decent understanding of the emotional aspects of selling, especially with your ability to engage prospects and acknowledge their concerns. However, you often missed the mark with direct responses to objections, particularly around financial constraints and the need for compelling evidence to support your proposals. You have a tendency to get a bit lost in empathy without anchoring your responses in specific solutions or data that can sway decision-makers.
What you really need to focus on is enhancing your engagement techniques. This means honing in on the budget discussions and providing data-driven justifications that can help prospects feel secure in their investment. Dive into SPIN Selling and the BANT Framework; these will help you not just identify needs but also articulate how your solutions fit within your prospects' financial realities.
Remember, selling isn’t just about understanding; it's about guiding your prospects to see the full picture and the value of what you offer. One memorable takeaway? Don’t just listen—lead the conversation. Ask the right questions that challenge their thinking and build a bridge from their concerns to your solutions. Your prospects are looking for a partner, not just a salesperson. Step it up, and let’s turn those scores around.
Question Breakdown
1.
2
/ 10Question:
"I totally get the importance of insurance, but with our current budget constraints, can we really afford this right now?"
Answer:
While affordability is a major concern, the biggest concern is protecting your assets and your family. While this may not be entirely comfortable now, it’s something that is going to ensure your assets are protected and or your family will be able to continue living comfortably without you.
Feedback:
While you address the importance of protection, your response lacks direct engagement with the budget concern. A more effective approach would involve acknowledging their financial constraints while exploring the value of insurance as a necessary investment. Consider asking questions to understand their specific budget limits and offer tailored solutions that demonstrate how life insurance can fit within their financial situation. Additionally, using a solution-focused technique could enhance the relevance of your response. Overall, this answer misses the opportunity for curiosity and collaboration.
2.
5
/ 10Question:
"My team seems to think that we already have enough coverage; how do I convince them otherwise?"
Answer:
Ask questions to probe out the persons financial situation, figure out what it takes for them to sustain their lifestyle, what debts do they have, and determine if what is in place is actually enough to take care of the whole bigger picture. Determine if what they have is what is going to help them sleep at night knowing absolutely everything has been protected.
Feedback:
Your response demonstrates a solid approach by emphasizing the importance of understanding the client's financial situation and assessing their current coverage. However, it lacks direct engagement with the objection about convincing the team. Consider framing your questions in a way that directly addresses the team's concerns, such as asking about specific gaps in their current coverage or potential future needs. Also, exploring the implications of insufficient coverage could amplify the urgency of your message and encourage more buy-in from the team. Overall, while you're on the right track, there is room to enhance your persuasive techniques and address the objection more directly.
3.
6
/ 10Question:
"I’ve heard mixed reviews about some life insurance products out there; how does yours stand out?"
Answer:
Absolutely, every carrier has their pros and cons. The carriers we work with have been around for a hundred years, endured every major financial crash, and still upheld their duty to pay out policies throughout these trying times without fail.
Feedback:
Your response provides a solid foundation by highlighting the longevity and reliability of the carriers you work with. However, it falls short in addressing the prospect's concerns about mixed reviews directly. To strengthen your response, you could start by empathizing with their concerns about product reviews and then provide specific examples of how your offerings stand out in terms of customer satisfaction, claims process, or unique features. Additionally, consider inviting questions or feedback about specific reviews they may have heard to create a more engaging dialogue. This approach not only addresses their concerns but also builds trust and credibility. Overall, while your answer is informative, it could benefit from a more customer-focused perspective and an interactive approach.
4.
7
/ 10Question:
"This feels like a luxury purchase rather than a necessity; can you help me see the immediate benefits?"
Answer:
Do you want your family to be able to live comfortably even if you were to pass away tomorrow? Do you want your wife to have to move out of the home y’all bought together because she is unable to swing the expenses on her own with out you? Do you want to ensure your children will still be receiving the best quality care and education after you pass away? That is what you are protecting and providing to your loved ones, protection that when your family needs it the most, will be there even if you aren’t there to take care of them anymore, you can are setting up something that will.
Feedback:
Your response effectively addresses the emotional aspects of the objection by asking thought-provoking questions that trigger an emotional response. However, it lacks a direct approach to combat the perception of life insurance as a luxury by explicitly mentioning the immediate benefits and financial security it provides. Consider balancing emotional appeals with concrete examples of how life insurance can protect against financial instability and enhance peace of mind, especially in challenging times. Engaging the prospect in a discussion about their specific concerns and priorities can further clarify its necessity rather than luxury status. Overall, while the emotional appeal is strong, integrating more solution-focused elements and immediate benefits would strengthen your response.
5.
6
/ 10Question:
"I’m not sure how this investment fits into my current priorities—can you break down its value for me?"
Answer:
Right now your main priorities in life are providing for and taking care of your family, correct? If you were to die tomorrow, you cannot continue your priorities you would like too, nor would you be able to provide them with enough money to continue sustaining their current life style they live right now. What this policy does is guarantee that if something happens to you tomorrow, your family will absolutely have the required resources to continue living comfortably without you.
Feedback:
Your response starts strong by aligning the conversation with the prospect's priorities, which helps to establish rapport. However, it could benefit from a clearer breakdown of the specific value proposition of the life insurance policy. Instead of solely focusing on potential loss, consider highlighting positive aspects such as peace of mind, financial security, and how the policy can serve as a safety net for their family's future needs. Additionally, incorporating a question about their current financial goals or concerns can further engage them and personalize your approach. Overall, while you acknowledge the prospect's priorities well, enhancing the clarity of the policy's value could make your response more compelling.
6.
5
/ 10Question:
"We’re currently dealing with a lot of internal changes; is now really the right time to introduce something new?"
Answer:
I get it, changes are tough and we hate to have to think about what we are going to do on the other side of those changes, or if things will pan out how we plan. There is always factors outside of our control, and tomorrow is never promised to us. It’s best to get this taken care of now so it’s something you don’t ever have to think about or worry about again, and I can’t guarantee that when it gets to a time where you really need to use this, that you would even be able to qualify or afford what it is you need at that time.
Feedback:
Your response acknowledges the prospect's situation with internal changes, which is a good start. However, it could be more effective if you framed your message around the potential risks of delaying the decision rather than just stating the uncertainties. Consider using the SPIN Selling technique to delve into the implications of waiting, such as potential coverage gaps during a transition phase. Additionally, providing examples or scenarios where having life insurance during change was beneficial could enhance your argument. Engaging the prospect further by asking how these changes might impact their needs could also foster a more collaborative dialogue. Therefore, while your tone is empathetic, the overall effectiveness could improve with a more strategic approach to the concern raised.
7.
8
/ 10Question:
"The last time we considered life insurance, there were so many terms and conditions that it became overwhelming; how do you handle that?"
Answer:
I absolutely agree, the policies can become very lengthy and difficult to understand if you aren’t in the industry. What I’m going to do is break down each section of the policy with you and make it as simple to understand as possible so that you don’t feel out of the loop about what’s happening. And of course, if you have a question at any time, please ask!
Feedback:
Your response effectively acknowledges the prospect's concern about the complexity of policies, which shows empathy and understanding. By offering to break down each section and simplify the information, you demonstrate a solution-focused approach that prioritizes clarity for the client. Encouraging questions fosters a collaborative environment and reassures the prospect that they will not be overwhelmed. However, to enhance your response further, consider illustrating specific examples of how you've helped other clients navigate complex terms, which can build trust and credibility. Additionally, asking if there are particular terms or sections they found confusing in the past could personalize the conversation and address their specific needs more directly.
8.
7
/ 10Question:
"With so many options available, what makes your offering the best choice for someone in my position?"
Answer:
That’s the beauty of working with me as your agent, since I’m contracted with the 10 best carriers in the nation, I am able to make those comparisons for you, right here, right now. I will compare the products between all of our different carriers and be able to determine which option would provide you the most value in coverage, while charging the lowest premiums!
Feedback:
Your response effectively emphasizes your unique ability to provide personalized comparisons among top carriers, which showcases the value you bring as an agent. However, to strengthen your answer, consider addressing the prospect's specific needs and concerns directly. Engaging them with questions about what aspects of a life insurance policy are most important to them (e.g., cost, coverage, customer service) could help tailor your offering more precisely. Furthermore, providing a brief example of how you’ve helped clients in similar positions can build credibility and trust. Overall, your approach is constructive, but enhancing the dialogue with the prospect would promote a more collaborative discussion.
9.
6
/ 10Question:
"I’m worried that implementing this could complicate our existing processes—how do you mitigate that risk?"
Answer:
I can totally understand why you might think adding this to your current portfolio of coverage might be confusing. We’re not looking to replace anything that you currently have, what we are going to do is fill the gaps that are being left behind by what you currently have in place. We’re going to take a look at what you currently have in place for coverage, compare that to what you want the coverage to protect and how much you want it to provide financially, and determine how much you would need in order to cover these existing concerns that your existing policies do not.
Feedback:
Your response acknowledges the prospect's concerns about potential complications, which is a positive start. However, it could be more effective if you also provided specific strategies or examples of how you would ensure a smooth integration of the new policy with their existing processes. Consider discussing how you would facilitate communication with their team or provide ongoing support during the implementation phase. Additionally, framing your response to emphasize the benefits of filling the gaps in their current coverage could enhance the value proposition. Overall, while you demonstrate an understanding of their concerns, deepening the solution-focused aspects and offering reassurance about the implementation process would strengthen your response.
10.
3
/ 10Question:
"I need to present this to my higher-ups, and I’m not sure how to justify the costs; can you provide supporting data?"
Answer:
When someone says they need to take some time to talk about this with their significant other, it is usually because either you are uncomfortable with the cost, you think they would be uncomfortable with the cost, or there is an aspect of this policy you aren’t completely happy with. Which of these best describes your situation right now? If it’s the pricing that is uncomfortable then we can adjust that to an area you know is comfortable. If you are not exceptionally happy with the coverage we are going to set up, then please tell me what it is you don’t like about this policy and I will make adjustments so that you are entirely pleased with it’s structure!
Feedback:
Your response misses the mark by not directly addressing the prospect's request for supporting data to justify the costs to their higher-ups. Instead of exploring their concerns about comfort with pricing and policy satisfaction, you should provide concrete data, examples, or case studies that illustrate the value and return on investment of the life insurance policy. Additionally, engaging the prospect with questions about what specific data their higher-ups might need would be more relevant and helpful. Overall, your approach lacks the necessary focus on justifying costs, which is critical in this scenario.