How to Create a Life Insurance Sales Script

Creating an effective sales script is crucial for life insurance sales reps. In this blog, we will discuss the process of creating a successful life insurance sales script. Please note that the script shared in this blog was developed in collaboration with a licensed life insurance sales representative.

Identify the Product Features

When creating a sales script, it is important to start by identifying the features of the product you are selling. In the case of life insurance, some key features include:

• Whole life coverage
• Income protection
• Funeral and final expense coverage
• Mortgage protection
• Debt protection
• Children's education protection
• Health services discount
• Card cash value
• AD&D

These features form the foundation of your sales script and should be clearly communicated to potential customers.

Highlight Differentiation Points

In addition to the product features, it is important to emphasize how your offering is different from the competition. Some differentiation points for life insurance may include:

• Being the largest union benefits company in America
• Handling permanent benefits for over 30,000 unions and associations
• Offering layoff strike waivers for financial security during layoffs or strikes
• Being A+ rated by the Better Business Bureau

These unique selling points help set you apart from competitors and should be incorporated into your sales script.

Define the Target Audience

Next, consider the target audience for your sales script. In this case, we are creating a script for individuals in general. However, you can tailor your script to specific demographics such as retirees, young professionals, or homeowners.

Focus on Value Delivery

When selling to your target audience, it is crucial to articulate the value your product can deliver. Identify the improvements or benefits your customers can experience by using your life insurance. Some potential value propositions include:

• Financial security in the event of illness, disability, or death
• Protection of family assets
• Prevention of disruptions in long-term goals
• Decreased possibility of financial instability
• Assurance of making prudent financial decisions

Address Pain Points

Alongside value delivery, it is essential to address the pain points or challenges that your product can alleviate. Some common pain points related to life insurance may include:

• Significant financial disruption in the event of illness, accident, or death
• Threat to family assets due to unplanned disruptions
• Impact on future goals and plans, such as children's education
• Possibility of financial instability from unexpected events
• Difficulty in making coverage decisions and plans

Develop Relevant Questions

Asking effective questions is a key aspect of successful sales. Create a list of pain questions that can help identify if the prospect has the pain points you can address. Some sample pain questions for life insurance may include:

• How could an illness, accident, or death impact your family financially?
• What are your concerns about your current level of protection and coverage for unplanned events?
• How important is it for you to ensure that future goals and plans are not disrupted?
• How confident are you in your coverage decisions and plans?

Additionally, create a set of current state questions that focus on the prospect's current situation. These questions can provide insight into their existing insurance coverage, financial status, and future plans.

Conclusion

Creating an effective life insurance sales script involves identifying product features, highlighting differentiation points, defining the target audience, emphasizing value delivery, addressing pain points, and developing relevant questions. By following this process, you can craft a compelling script that resonates with potential customers.