As far as Final Expense Sales go, closing the sale should be the easiest element of your presentation.
Why should the close be the simplest part of the final expense sales presentation? Because if you properly followed the other steps of the presentation, by now the prospect is qualified, has a need, has a budget, and has urgency; all the close consists of is asking for the business!
The closing phraseology suggested for final expense agents in a sales process is the assumptive close, where the agent shows three price points and three corresponding coverage amounts.
All the agent needs to say is, “Here’s the three programs you qualify for; which fits your budget best?”
After that, simply stay quiet until the prospect decides. It may take a few seconds for them to sign. There maybe a little bit of awkward silence. Do not speak until they say something (very important)!
Ninety percent of the time, the prospect will choose a program without objection, assuming you properly followed the system to a tee.
What happens if you do get objection?
Most objections have to do with pricing; it’s too expensive. So let’s discuss how to handle that.
Most of the time, the objection starts with, “Let me think about it.” When I hear that, I reiterate what they said to be clear, then ask them, “When you say you need to think about it, how do you mean?” Then I stay quiet until I hear an adequately expressed explanation.
This is where they’ll say something about pricing. Again, once they express themselves and their concern, and reiterate to them and ask if I’m correct in understanding what they are saying, then I ask, “Besides the price, is there anything else that is preventing you from making a decision today?”
This is called “Isolating the Objection;” now that you know the true objection is price, you can begin to work on it. This is where I employ the “Something is Better than Nothing” rebuttal, explaining that the prospect’s family would prefer a little bit of coverage versus nothing. The idea behind the rebuttal is to rationalize why starting with less than the desired amount is better for everyone involved.
However, the truth about objections is that they are stall-tactics made by weak-willed people to try to get you to go away; from the perspective of an actual producer, if the prospect can't be forthright with you, after you have taken careful considering in being forthright, honest, and transparent, most likely the person across the table from you is a low-life, time-wasting, agent-killer. I find ending the sales call the most effective solution to deal with people who can’t honestly express themselves.
A talented life insurance agent once said there are two sales; the easy one, and the one you never get. Certainly as a new agent, you must carefully plan and analyze your sales process and make sure you are following the system closely so as to ensure you are not missing steps that cause the objections at the end.
Nevertheless, no salesperson closes every appointment, and some of the best salespeople in the final expense industry making six-figures plus have 3 out of every 4 final expense leads tell them they are not interested. The takeaway here is to focus on developing your presenting and pre-qualifying skills above all else, and while you need to understand how to close, certainly do not expend too much energy beyond the basics, as the sale is made early on in the appointment, not at the end.