What Does it Take to Be a Disability Income Insurance Producer?

Not only should you know your products inside and out, but you should also be prepared to accurately quote contractual differences between those offered by the competition and yours. When I do personal production as an independent, I usually present up to three carriers to a prospect (which gives the prospect the feeling that I'm not "married" to any one company in particular). This then generates credibility. Which carriers I present are dictated by the prospect's occupation and objectives, since different carriers may have different definitions, etc., for that occupational class.

Presentation

What's wrong with a "canned" presentation? Why re-invent the wheel each time? George Whitmore, many years ago, did a one man show, "Give Him Hell Harry," and said the same thing over and over, word for word, twice daily, every day of the week for two years (and got paid handsomely for his efforts). There's nothing wrong using a sales presentation flip-chart. Remember, a picture is worth a thousand words! Again the presentation should be based on emotion. Minimize being a "feature preacher." You should concentrate on selling the need, based on emotion, rather than only focusing on the logic or the dollar values of the contract.

Rebuttal skills

So, you got in front of a prospect (prospecting), explained the product (presentation/knowledge), but you haven't yet "sold" the concept. Remember, no one wants to be sold, they want to buy. Based on the fact that very few prospects will immediately say yes after a presentation, no matter how good it was, you must be skillful enough to elicit their objection(s) because without, you really have no way of continuing. Now that you've heard the objection, do you put your head down and run? Of course not! Instead, hopefully you've got several good rebuttals in your bag, for anything the prospect can throw at you.

In conclusion, by employing these new found tools, you should immediately see an increase in commissions and your closing ratios for disability income insurance, but more importantly, you should feel an increased satisfaction in the fact that you have provided a very important product to your client's welfare: Income protection, which all financial planners say, "is the cornerstone of all financial planning!"

Larry Schneider is a disability specialist with over 35 years experience and is the owner of Disability Insurance Resource Center. He is also an expert witness consultant for disability insurance claims which have been inappropriately denied and a national resource for hard to place prospects, as well as a brokerage for standard cases. One of the author's divisions has developed a Sales and Marketing Turnkey System, made up of eight manuals and other sales aids, each devoted to one segment of the sales cycle (prospecting, rebuttals, etc.).