Seniors’ top concerns tend to be outliving their assets, maintaining their independence, as well as their own health and safety issues. For seniors over age 75, their worries center on family and friends, leaving a legacy and their reputation.
If you have been selling for very long, you have heard about the concept of “features versus benefits.”
- Features are what the product has or does.
- Benefits are why your prospect would want those features.
- In other words, features are about the product, benefits are about the user: What will the product do for them?
For example, if you have something that is metal instead of plastic, metal might be a feature. But the benefit might be that it is more durable, longer-lasting, or unbreakable.
Features are the language of logic. Even people who insist they buy logically or based on features do so because that’s what makes them “feel” better.
Benefits are the language of emotion. Focus on emotions, not intellect. People buy on emotion but are moved to action by logic.
An easy presentation
A good and easy presentation would be the outline of coverage for the Medicare supplement product provided by an insurance company. You start by showing them the chart of the standardized Medicare Supplement plans. Let them know that all insurance companies now offer the same plans. Plan F with one company has the same benefits as Plan F with another company. The main difference is the premium that each company charges. You’d then go to the outline of coverage where it shows the services that are covered, such as hospitalization, skilled nursing home care, medical expenses, foreign travel and the like.
The outline shows what Medicare pays, what Plan F pays and then what the client would pay. If you’re showing Plan F you’d go over the outline for Plan F. By showing them this information it lets them know what the gaps are in Medicare and how the Medicare Supplement will pick up those gaps.