Death is unavoidable. Every year, over 2.8 million people die. But that does not mean that everyone wants to die. Many people die prematurely of accidents and disease. And many don’t want to think about death. For that reason, even though death is inevitable, selling final expense insurance is very tricky.
The reality, however, is that nearly 60% of Americans are underinsured, which means there is a need for insurance products to reach more customers. But there are strategies that you can use to sell final expense insurance. If you do it right, you can grow your business. They include:
1. Network with healthcare professionals
People within the medical industry interact with death every day. It is part and parcel of their job. You need to network with them because they have access to patients who tend to realize their mortality while in hospital.
So don’t just limit yourself to networking events within your industry. When the opportunity presents itself, build relationships with health care professionals as well. You can go to hospitals and introduce yourself where possible. And leave your business cards with the people you socialize with. But be subtle about it. You don’t want to be seen as someone who is so opportunistic that you cannot wait to profit from death.
2. Attend local events and organize Q&A forums
Your potential customers are within your community. If you want to sell them life insurance, you need to go where they are. That means attending local events like church seminars and other community events. The people you meet here are likely to be engaged, and you can tell them what you do and offer your services politely when the opportunity presents itself.
You can also work with local event organizers to offer your insurance expertise. Provide a chance for people to have their questions answered in a Q&A forum. These could take place in different settings, including your homes for the aged and local personal finance classes.
Part of the reason people are underinsured is that they are not well informed about their options. Be that expert who takes the time to educate them about the facts of life and the choices available to them.
Once people realize the importance of funeral insurance, you might not even have to do any additional marketing. They can show up at your office of their own free will.
3. Incorporate direct mail marketing
You should also incorporate direct mail marketing. This involves writing a sales letter and posting it to your leads while including a postage-paid reply card. It offers you an excellent chance to educate your potential customers about final expense insurance: what it is and why they need it.
When writing a sales letter, remember that it is all about the customer. Don’t tell them about the product per see, but what it can do for their loved ones. Show them the benefits of the product. If you are unable to write such a letter, you can hire professional sales writers to do it for you.
No doubt, selling final expense insurance can be tricky. But there are ways you can get around people’s reluctance to discuss their mortality. So use those strategies at your disposal to sell the funeral insurance that everyone desperately needs.