Closing The Sale

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Closing The Sale

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Income is an asset. Quantify the value of that asset ... Use assumptive close and begin asking. questions. Ask for the sale! Answering Objections ... – PowerPoint PPT presentation

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Title: Closing The Sale

1
Closing The Sale
2
Review Need for DI

? Income is the greatest asset
? Probability of risk
? Magnitude of risk
? Tell a convincing story
? Sources of replacement income
? DI to the rescue!
? Fact Finder

3
Key Points

? Income is an asset
? Quantify the value of that asset
? No other reliable source of replacement income
? Verify facts on Fact Finder
? Has anything changed?
? Collect benefit booklets (if not already
received)

4
Personalized Income Protection Plan

? Chart
? Sales Illustration

5
Case Scenario

? Corporate Executive
? 80,000 base 20,000 bonus
? 60 x base salary up to 5,000
90-day waiting period
? To Age 65 benefit period

6
Review design from Lesson 4
5,200 Participation Limit 4,000 Gross LTD
Benefit x 80 (Adjustment for Taxes) 3,200
Net LTD Benefit 2,000 Available IDI
Benefit
7
Personalized Income Protection Plan
2,500,000 (Income Potential)
? Quantify the value of the asset.
8
2,500,000
90 days
To Age 65
? How well is this asset protected?? Protects
38 of monthly income after 90 WP and To Age
65 BP.
9
2,500,000
? How do you feel about your current program??
Compare to your home.
10
38
Would you protect only 38 of your home?
? Why are you content with protecting your income
this way? ? What pays for your home?
11
? How do you feel about your current
program? ? Compare to your home.
12
2,500,000
90 days
To Age 65
? Extend the amount of protection.
13
2,500,000
? Add 2,000 base benefit.
14
2,500,000
? Add 3,133 ADL benefit.
15
2,500,000
? Add 4,000 GPIR options.
16
2,500,000
1 Year
? Add Inflation Rider.
17
2,500,000
? Add maximum potential benefit.

? Add monthly premium.

? Sell from chart.
? Have illustration as backup to be given to
prospect when finished.
? Use assumptive close and begin asking
questions.
? Ask for the sale!

19
Answering Objections

? No need.
? No time.
? No money.
? No trust.

20
No need
Answering Objections

? If youve done a good job in developing the
case, this wont be an issue.
? If it is an issue, review previous steps.

21
No time
Answering Objections

? I want to think about it
? Address head-on
? Usually smoke screen
? Usually hidden objection

22
No money
Answering Objections

? People will spend up to 2 on protecting
their income.
? Compare to other expenditures (i.e. cost of
cable tv).

23
No money
Answering Objections

? For 30 days, put extra change from the days
activities in a coffee cup.
? After one month, have your prospect send it to
you.
? Your prospect will not miss this money!
? Design a plan that supports that amount of
money.

24
No trust
Answering Objections

? This is up to you.

25
Closing Techniques
The 6 Greatest Essential Expenses
26
Closing Techniques
Recall

? 6 Greatest Essential Expenses . .4,550
? Net Group LTD benefit . . . . . . . ..3,200
? Shortfall. . . . . . . . . . . . . . . . . . .
. 1,350

27
Closing Techniques
? Ask Which of these essential expenses
would you not pay if you became too sick or
hurt to work? ? Point out that your prospect can
not cut back on essential expenses. ? There
must be at least that much in income.
28
Closing Techniques
? 48 of all house foreclosures are the
result of disability, while 3 of all
foreclosures result from death.
Source Housing Home Finance Agency of the U.S.
Government, 1998
29
Closing Techniques
The Money Machine
? If you had a machine that would give you
275 everyday, what would you do?
30
Closing Techniques