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How To Overcome Objections In Insurance Sales? (As A Life Insurance Agent) - YouTube
Channel: Dr Sanjay Tolani
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Hey guys this is Dr. Sanjay Tolani and in聽
today鈥檚 video, we鈥檙e going to talk about聽聽
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How to overcome daily objections that you聽
receive while you鈥檙e trying to sell insurance.
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I鈥檝e put together this special聽
video because I realized聽聽
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many of you are still not familiar with聽
the insurance objection handling process聽聽
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especially for new advisors聽
who recently join our industry.
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So without further ado, let's聽
get today's session started!
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A warm welcome to our family leader,聽
our mentor, Dr. Sanjay Tolani!
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I've always believed 70%聽
is mindset in our industry聽聽
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most people don't achieve the awards they aim聽
for not because they're not capable enough聽聽
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but because of their limiting mindset. If you're聽
not getting what you want in this industry your聽聽
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mindset is holding you back. It's not about聽
luck not about circumstances not even about聽聽
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network. But first and foremost you聽
need to have the correct mindset!
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Here鈥檚 what we will be learning today:
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Learning point #1: The Universal Objection聽
Circle - My Process Of Handling Objections聽
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Learning Point #2: 3 Common聽
Objections You Will Face Recently聽
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Learning Point #3: Mindset When Handling Objection
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Sounds exciting, let's start off with learning聽
more about my objection handling process!
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The next most important thing is understanding聽
how to handle objections. Now I've covered this聽聽
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over and over again but i think you need to have聽
this very clear in your head. Handling objections聽聽
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is one of the most important parts of our聽
business. But there's most of us don't know聽聽
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the right process for handling objections. Now聽
I've already put this also on youtube but I want聽聽
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all those of you who have not yet learned the聽
process to go through the process with me today聽聽
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right there are four steps to objection handling聽
i call it the uoc the universal objection circle聽聽
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it starts with acknowledging acknowledging the聽
objection when a client gives you an objection聽聽
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the first step is not to challenge the聽
client is to acknowledge the client聽聽
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let the client give you saying sanjay i聽
need to ask my wife very common objection聽聽
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right sanjay i need to ask my wife mr klein i'm聽
so glad that you need to ask your wife i get that聽聽
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acknowledge it step number two you聽
need to ask the right question because聽聽
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your question should actually be related to聽
the objection don't ask any random question聽聽
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ask the right question and the聽
right question would be mr client
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do you think your wife will tell you not to聽
protect her and not to protect the family because聽聽
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every wife that i have spoken聽
to has always told me that
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they want the family to be protected they want聽
the kids to be protected so do you think your wife聽聽
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will say no because and then give a solution and聽
an example mr clyde every time that i work with a聽聽
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family i would love to be part of the conversation聽
right so your wife might ask you questions that聽聽
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you might not know the answers to so why don't聽
we have a meeting between you and my yourself and聽聽
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your wife so that in case she has any questions聽
i can answer them directly number one number two聽聽
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let's make this decision together so that we聽
know exactly where we are going by the way as聽聽
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a gesture make it relatable to them as a gesture聽
of friendship why don't i do one thing for you聽聽
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my company allows us something called a free look聽
period right so you're allowed to buy it free look聽聽
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no problems you don't want it we refund the money聽
back it's a free look period so you're covered聽聽
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right and you and your wife and i we can spend聽
time or you and your wife can think about when聽聽
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you want to do it and if you tell me yes we go聽
ahead if you tell me no we just cancel the policy聽聽
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it's as simple as that with 100 refund we've got聽
something called a free look period because i want聽聽
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to make sure that you're protected while you and聽
your wife are still thinking about it it's free聽聽
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so why don't i do that for you as a goodwill聽
judge because you're a good friend of mine聽聽
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i want to make sure you're protected while you're聽
thinking about it so why don't we just do that聽聽
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that's how you handle the objection start聽
with acknowledging it move on to asking the聽聽
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right questions step number three give a solution聽
give an example and number four make it related聽聽
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if you follow this process any objection this聽
process works with almost any objection you get聽聽
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i want you to think about this quick update if you聽
want to know how you can create your own financial聽聽
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concepts so that you can better help your聽
clients understand why they need to buy insurance聽聽
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click on the link below to find out聽
more now let's get back to learning聽聽
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think of an objection give me that objection聽
and i will use exactly the same structure聽聽
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i will acknowledge it first i will聽
never challenge it so when a client says聽聽
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i don't believe in insurance very common objection聽
sanjay i don't believe in insurance well mr client聽聽
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i understand that i understand you don't believe聽
in insurance but let me ask you a question
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insurance is not a religion聽
that you have to believe in聽聽
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right insurance is just like an airbag in your聽
car would you drive a car without an airbag聽聽
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think about it when was the last time you聽
ever tested whether your airbag works or not聽聽
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you would still want it in your car so mr client聽
it's not about whether you believe it or not聽聽
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it's not a religion that you have to believe in聽
it's a product that works just like an airbag聽聽
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it's to protect your family you don't have to聽
believe it by the way you're never gonna get it聽聽
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it's not for you it's to protect your children聽
it's to protect your family it's not for you聽聽
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you have to die and then they get paid so聽
it's not for you we have got this wrong聽聽
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guys insurance is not for the person who buys聽
it think about it is life insurance for you聽聽
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no life insurance is for your beneficiaries聽
let me ask you a simpler question
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do you want your children to be protected聽聽
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if the answer is yes you need to聽
buy life insurance on yourself
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we've got this wrong life insurance is not for聽
the people who buy life insurance for the people聽聽
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who are going to get the money we've got the whole聽
thing wrong we tell our clients buy life insurance聽聽
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for yourself wait a second it's not for them聽
it's for their family and we've got that wrong
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think about this guys all these聽
conversations that we are having today聽聽
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is to help you refocus your mind in the correct聽
direction because we all are spending time聽聽
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but we are spending our time in the wrong聽
direction we're focusing on investments聽聽
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we're focusing on the markets we don't know聽
what's going to happen with the markets going聽聽
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forward we don't know what's going to聽
happen with investments going forward聽聽
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we don't know that but we know one thing for sure聽
people will continue to die people will continue聽聽
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to fall sick pandemic or no pandemic children聽
will still go to school and people will still聽聽
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want to retire pandemic or no pandemic the聽
need for financial planning has not changed
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so instead of focusing on聽
a product focus on the why聽聽
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why they need to do financial planning and聽
that's what's the most important thing going on
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i got another objection which i聽
get sanjay i would rather invest聽聽
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in the stock market or cryptocurrencies聽
right now because the return is higher
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mr client please go ahead and do that it's not聽
about the return that's absolutely fine but聽聽
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tell me something do you keep any money in your聽
current account the return on your current account聽聽
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is zero why do you still keep money then you keep聽
money in the saving account you bought a property聽聽
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why do you have all these other assets you see聽
all assets have a different risk and return
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insurance is the only asset that is not related聽
to the market think about it all your assets your聽聽
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bank account your equity portfolio your bond聽
portfolio commodities everything is related聽聽
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to how the markets perform insurance is an聽
asset that has nothing to do with the market聽聽
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it is what we call an option it's what聽
we call a hedge when the markets go up聽聽
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and down your investments will go up and down聽
but insurance always continues to be on top聽聽
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of all of those so if the market goes down聽
don't worry insurance compensates if market聽聽
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goes up don't worry insurance makes it higher聽
that's what insurance does insurance boosts聽聽
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everything that you have to do if the market聽
goes down we give you a buffer if market goes up聽聽
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we give you a excess payout think about insurance聽
is a asset that is not related to the market聽聽
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it's the best edge to any investment portfolio聽
so okay do your investments but make sure you聽聽
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have enough insurance to protect you because聽
you know how to do the investments this is one聽聽
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way of handling it the second way of handling it聽
is and this is how i love handling it mr client聽聽
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i absolutely agree with you so knowledgeable聽
i absolutely agree with you that yes markets聽聽
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are doing very well cryptos etc you probably can聽
get a higher return but let me ask you a question聽聽
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does your family know how to manage these聽
investments you know how to do it i get that聽聽
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but does your family know how聽
to manage these investments聽聽
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you see every time that i work on financial聽
planning it's not about investments聽聽
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i'm looking at can the family聽
continue to manage that risk聽聽
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because when you are not there when you are sick聽
what do you want the invest what do you want the聽聽
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family to do with these investors do you want them聽
to just sell it they might sell it at the wrong聽聽
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time because they don't know about it that's what聽
insurance does insurance basically buys you time聽聽
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buys time for your family to make a decision聽
on whether they want to sell it or they don't聽聽
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want to sell it probably even learn about it聽
think about that that's how i would handle聽聽
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that objection does your family know how聽
to manage those investments think about it
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um another very common聽
objection that we get is sanjay聽聽
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i will think about it and let you know mr klein聽
i absolutely understand i mean this is a life聽聽
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this is a very important commitment and聽
you want to think about it i get that聽聽
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but let me ask you a question would you like it if聽
i gave you free insurance while you think about it聽聽
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because you see every time that i work with a聽
family right um they always want to think about聽聽
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and i want to make sure that they have enough time聽
to think about so i'm in no rush i'm not here to聽聽
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push you anything but i can definitely give you聽
free insurance while you're thinking about it聽聽
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and we have something called a free look period聽
my company allows that for three weeks i could聽聽
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give you a free look period two weeks depending聽
on which country you're from some countries offer聽聽
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one or four weeks so depending which country聽
you're from you have a free look period on聽聽
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your contract mr client i'll give you a free look聽
period so that you've got time to think about it聽聽
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and tell me yes or no take your time think about聽
it that's all right i'm giving you free insurance聽聽
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um another very common objection that you probably聽
get and you will get this objection usually when聽聽
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you're focusing on a product so when you're聽
focusing on an insurance product rather than why聽聽
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they need to buy insurance you will probably get聽
this objection i'm not ready to buy and shop this聽聽
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so when your client tells you i'm not聽
ready to buy insurance it means your why聽聽
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was not good enough your presentation was rubbish聽
they didn't probably understand what happened聽聽
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when someone tells you i'm not ready to buy聽
insurance it means your presentation was bad聽聽
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you didn't get the why very clear mr klein聽
this is how i would start i'm like okay i聽聽
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i understand you're not ready to buy like聽
buy insurance but let me ask you a question
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what's your income protection strategy in case聽
tomorrow you lose your income you see whenever聽聽
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i'm working with a family right i'm always聽
thinking about just like how a tree works聽聽
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a tree looks very strong but a tree is strong聽
because the roots are strong and the roots is聽聽
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the income the tree is the asset everyone can聽
see the assets they forget about the income聽聽
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mr client insurance protects the rules聽
you are the asset for your family聽聽
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so is there a particular reason why you聽
feel you're not ready to buy insurance聽聽
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because you are the root of your聽
family and i need to protect you聽聽
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so i'm not sure why you're not ready聽
is there something that i've missed
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asking the question now before we end off聽
today's session i just want to help you gain聽聽
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clarity on the mindset you need to adopt with聽
objections clarity number one if your clients聽聽
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have no objections it means there's something聽
wrong with your presentations go re-look at it聽聽
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clarity number two having objections is great this聽
means the client is considering your offer but聽聽
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needs more clarity about it clarity number three聽
you need to practice objection handling it's not聽聽
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about just copy and paste another person's script聽
it's a process that you need to invest time to get聽聽
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used to i hope this video has provided you with聽
better clarity on how to overcome objections聽聽
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as a financial advisor as usual if you like聽
this video don't forget to subscribe to my聽聽
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youtube channel and leave me a comment in the聽
comment section telling me i love this content聽聽
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so my team and i can be motivated to produce聽
more awesome content for you do let me know聽聽
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what some of your other objections you聽
have received in the comment section聽聽
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so i can cover them in my future videos remember聽
to practice your objection handling process this聽聽
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is dr sanjay tolani together let's make financial聽
planning easier and happier for everyone
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do you
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