A hand dialing a phone while looking at a computer screen (Credit: Shutterstock)

Over the past five months, we have gotten a lot of phone calls asking us, “How do you sell life insurance on the phone?”

What we tell people is, if you just push products, you are going to have a really tough time. However, for the agents and advisors that have made the transition to consultative, problem-based selling, then selling life insurance on the phone is no different than when you meet with people face-to-face.

(Related: Where Can You Find More And Better Annuity Leads?)

You will want to follow the same step-by-step, proven sales process used by the best producers even in those face-to-face encounters.

Set The Appointment

Step 1: You call the client to set a sales appointment. You use an appointment script that is based on you asking them the right questions, so that you can get them to tell themselves that they have a problem. And then why they need to meet with you. Because, if they do not see that they have a problem that you can help them solve, then why should they take the time to meet with you on the phone? (This is not about your products or investment returns.)

Step 2: You will want to set a time that you can call clients back for the sales appointment. Find a time when they can give you 40 minutes or more to review their situation. You will want to talk to both the husband and wife. Do not try to sell your life insurance on the phone during this first phone call.

The Sales Appointment

Step 3:  When you call clients for the sales appointment, you will want to do a complete problem-based fact find. Which is a lot more than you just asking a few questions to find out what they have. You must ask them the right questions, so that you will help them to see the problems they are facing. You must find out what they want, and what is most important to them and why. The more that you get them to talk about the problems that they face and what they want, then the more they will want to fix their problems. Do not jump on the first problem and try to sell your life insurance while you are on the phone right now.

Step 5:  After you complete the full fact find, you will tell them that you want to take all of their information and review it over the next few days. That gives you time to come up with the best solutions for their problems. Before you hang up, set up your next meeting with them, for a week later.

The Sales Presentation

Step 6:  At your office, you will want to review everything that you got from them. Plus, look to see where you can find the money to fund their best solutions. You will want to make them a client first, by fixing their most pressing problem. Do  not try to fix all their problems at once. Because they can be overwhelmed and confused. And you will risk losing the sale. Keep it simple.

Step 7:  The next step is for you to come up with a simple printed sales presentation. You will want to review what they told you. Then you will want to compare what they are doing right now, to what you recommend that they do. Whenever possible, you will want to use the same money they are spending right now.

Step 8:  When you meet with them, review your sales presentation with them. First, go over what they told you. Then go over what you recommend they do and why, just the benefits. Again, keep it simple. Answer any questions in simple terms. Do  not try to explain how your product works (the product is irrelevant.) Remember, it took you hours or months to learn and understand your products. How can you explain it to them in just a few minutes? The best way for you to present your written recommendations is for you to use a video conferencing app like Zoom.

Selling Life Insurance On The Phone Is Easy

Do you want to sell your life insurance on the phone? Then you must follow the step-by-step process used by the best advisors. And you must be really helping people to understand the problems that they face.

When you do all of this right, the sale will just about close itself.

— Read The Top Secret to Closing Life Sales (or Any Sales) on ThinkAdvisor.


Jeremy NasonJeremy B. Nason, RFC, is the co-founder of the Insurance Pro Shop, an insurance marketing and sales resource center, and Found Money Management, a life insurance sales training system aimed financial professionals who work with middle-income families.