Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
An advisor with clients

Life Health > Running Your Business > Selling

Telling Stories to Sell Life Insurance

Your article was successfully shared with the contacts you provided.

What You Need to Know

  • Most clients know they need more life insurance.
  • They rarely jump up to get what they need.
  • One way to start may be to talk about what other people need, and fail to get.

In my four decades of experience working in life insurance sales, I have found the most effective way to convey the value of life insurance is by creating an emotional, human connection with your client.

When you begin a life insurance conversation, you need to know your client’s financial history, behaviors and goals.

This allows you to put yourself in their shoes and leverage your expertise to identify concerns that they may not be thinking about, and for which life insurance could help them down the line.

My mantra has long been, “It’s not about the products we sell, it’s about the stories we tell.” Tell stories from your own history of working with a wide array of clients.

As the expert, you most likely have come across several different, yet similar situations and circumstances, and you can use those stories to connect with your client and engage them.

These stories enable them to appreciate the importance of the products you sell and the financial security they can gain from owning the right life insurance policies that suit their needs.

If you are new to life insurance sales and need some stories to tell, the Life Happens website is a good resource to leverage.

This site possesses many real-life stories from families that benefited from life insurance protection.

Utilizing these as case studies and sharing them with your client may help motivate them to take action to prepare for the future.

Here’s a three-step guide for navigating the life insurance sales process.

Step 1: Demonstrate your understanding of your client’s situation.

Try this conversation starter: “I talk to a lot of people in a situation very similar to yours, and I’m consistently hearing a common thread. Many people say they’re concerned about _______.”

Describe the “common thread” you’re hearing, then ask them: “Is this something that ever concerns you?”

By taking this approach, you have surfaced a concern that they may have been unwilling to confront, or perhaps had not before considered.

At the same time, you have also established credibility by demonstrating that you’ve spoken with a lot of people on this topic, and have meaningful, relevant experience that aligns with the client’s situation.

Share stories of others and explain that because a lot of people have raised this concern, your client is not alone in beginning this important process of purchasing life insurance.

Step 2: Make sure to ask your client these two questions.

Question 1: “Let’s imagine that, for whatever reason, you didn’t make it home yesterday, will your family struggle financially?”

Question 2: “If there was something we could put into your plan today that could secure your loved ones’ future, you’d probably want to know what that is, wouldn’t you?”

People will rarely buy life insurance simply because they understand it’s a practical measure.

They’re more likely to buy life insurance when they realize it can solve a challenge they’re currently facing or a problem they need solved, and that they’ll have guidance from a professional like yourself for any complexities along the way.

These questions will help them envision how exactly life insurance can support their families in the face of an unfortunate event through storytelling tactics that help them imagine a few different scenarios.

Step 3: Break down the benefits clearly.

In this final step, take all the knowledge you have gathered and shared with your client and use that insight to recommend specific life insurance policies that are applicable to their individual situations.

To avoid causing any confusion or misinterpretations, break down the basics of each policy you are recommending.

Rather than using industry jargon, explain key terms in an understandable manner to build your client’s understanding of important insurance concepts related to the policies they may purchase.

Explain clearly and tangibly how each policy will help address the specific issues your client is looking to prepare for or remedy.

For example, you can say, “This policy is designed to make sure your surviving spouse remains financially secure if you enter a nursing home, and this policy is designed to make sure that your kids can go to college and your family can continue living the same lifestyle after you’re gone.”

While storytelling tactics are key for setting the stage, this final step allows you to apply the product as a solution to fulfill your client’s needs.

Joe Ross. (Photo: Corebridge)Joe Ross is vice president for sales productivity and business development at Corebridge Financial.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.