How To Sell Final Expense Like Jordan Belfort (Telesales Training)

Alright, what's going on, guys? In this video, I'm going to be showing you how to sell life insurance. Like Jordan Belfort. If you've seen the Wolf of Wall street, the guy who started Stratton Oakmont, that's Jordan Belfort. I'm not going to be talking about how to sell life insurance unethically. I'm just going to be talking about one of his sales principles. Because ultimately, you know, whether you agree with what the guy did or not, his ability to sell, he has a mastery of the level of, a mastery of the skill of sales. And so I'm going to be breaking down how to use some of those tactics to sell more life insurance. So if you ever read the book the Way of the Wolf, it's Jordan Belfort's book, right? And he basically talks about the 3 tens, right? And basically what that is, the 3 tens are your prospect needs to be at a level 10 of certainty about three different things before they buy from you, right? That's you as a salesperson. They need to be ten out of ten certain about you. They need to be ten out of ten certain about your company. And they need to be ten out of ten certain about the product, right? So let me show you guys how this applies to selling final expense. So you can use that exact same framework to sell a ton more life insurance final expense life insurance over the phone. So I call this the three three P's. Check this out, right? We got P.

We got P.

And then we got P down here, the three P's of life insurance.

And excuse my handwriting, I'm used to typing, so the first P, okay? In life insurance, this is going to be price. First P is price, right?

So we'll come back to price. The second. Well, actually let's dive into price before I go into the second one. So price, right? Basically, when you're selling to people that are on a fixed income, they're going to be price conscious to some extent, right? I have some notes here just to kind of guide me through, make sure I don't miss anything. But your people on a fixed income, they're going to be price conscious to some extent. Doesn't mean that you have to show them the lowest price. Like some of these people will spend a few hundred dollars a month with you, but price is definitely going to be a big factor and how can you blame them, right? They have a fixed amount of money that they're getting every month and they have to stretch that money and make sure it works, you know, to cover all their bills, expenses, different things that come up, gifts for grandkids, all that stuff. They have to be very price conscious, which is why the first P is actually price. So in order for them to have a level 10 of certainty about the price, they need to believe a couple things, right?

A, this is either the best deal.

They can find.

Or.

So close.

It doesn't really matter, right? So if it's within like $2 and they have tens on these other things, doesn't matter, but they need to believe this is either the best deal they can find or so close that it doesn't really matter, right? Seniors are terrified of getting ripped off. Like, I've looked at all of their comments on our Facebook ads. The number one concern is getting ripped off. That's the exact language they use. Okay? So price, they need to be at a 10 on price. The other thing is they have to be able to afford it.

Comfortably. I'm gonna put comfortably in all caps.

Comfortably. Boom. So basically they need to believe that they're getting a good deal, like the best deal they can find or so close that it doesn't really matter or, and they need to be able to afford it comfortably. If you get these two things, you're good, right?

Very simple. Basically, like with insurance, you can move the prices around so you can always find something that's within their budget unless they just have no money. So, boom, that's price. That's how we get price to attempt is find them the best deal, confirm that it's within their budget, and confirm they can afford it comfortably, right? The next P is plan, right? So this is like all the fine print.

Right? When I say plan, I'm talking about like, is there a waiting period? Right, Waiting period.

Yes or no?

Yes or no, right? Is there a waiting period? Right? How much coverage?

Right, Waiting period, how much coverage? Another thing is basically how it works, right? So how does whole life insurance works? How does it work?

How does it work? The company is also in here, right? So what I've seen a lot recently is.

If they've never heard of the company, they're less certain. And again, we need to get them 10 here, and we need to get them 10 here so that they buy and they can have tens on this first P and this last P, which I'll cover in a second. But if they're like, I've never heard of Sbli, I've never heard of royal neighbors. I need to do some research on royal neighbors. Well, you also have to sell them on the company. They need to believe that this company is going to pay their family, right? So we got waiting period. Does it have a waiting period? How much coverage do they get? How does the plan actually work? How does it pay out? And then do they trust and believe in the company? So the way that you increase their certainty on this is if they are going to get a waiting period, you basically have to explain that that is the best option for them. And there's a specific way that I would recommend explaining this. Basically, instead of saying like, so you're going to have a two, it's going to take two years before it kicks in. You basically explain it this way. So, Ms. Jones, the way that it works, this is how I'm explaining the waiting period is within the first two years, if something happens to you, they're going to pay you everything that you paid into the policy, plus 10% interest, right? Better than any savings account you could get. It's better than the stock market does most of the time. That way, you know, if something happens, your family is going to get all the money you put into the policy. So you're not risking anything. Right. After the first two years, that full face amount, that 20,000 is going to pay out directly to your family. Right? So that way it sounds much more attractive. So that's the best way to increase their certainty on the waiting period. How much coverage do they get? This is really just filling the need. So crafting the plan with how much coverage, you're going to show them with what their problem was and show them how it solves that. Right. And then how does it work? How does whole life insurance work? This is all the technical stuff that you have to know as an insurance agent that your prospect is going to have questions about. And then the company, basically you need to sell them on the company too. You know, SBLI, they've been around since 1907. They were founded by a Supreme Court judge, right? All these different things that you'll learn over time and that you need to know to sell them on. These companies that a lot of times, if you're not in the insurance business, you've never heard of them, right? So second P is plan. Now, the last P is actually the one you have the most control over because it's the producer.

So the first P is price, the second P is plan, the last P is producer. So this is do they trust you? Do they believe in you? Right. You could have the best plan, you could have the best price. But if they don't believe you as the producer or they don't really like you or you're coming across as unsure about different things. They're not going to buy, so they need to have a 10 again on all of these things. Producer, plan and price. So producer is like.

Do they trust you deliver on your promises.

Right?

Because ultimately they're buying a promise from you. And then also, do they trust you'll help their family file the claim?

Oh, it was leg day today, so that was painful, right? So basically the way Jordan Belfort describes it is you need to be sharp as attack, enthusiastic as hell. And I forget the last one, but there's one third thing that he says. Sharp as attack, enthusiastic. Hell, and an expert in your field, right? Sharp as attack, enthusiastic as hell. And an expert in your field is what you need to give somebody a 10 on this level, right? So if they're asking you questions and you're like, well, like you're very uncertain, all of a sudden, they're gonna be uncertain about you, right? They are buying you as the producer because you're ultimately gonna be the one that helps their family file a death claim when something happens to them. That's your job as the agent is to help their family out. So if they don't believe that you could do that, they're not gonna buy insurance from you, right? And so the way that you build trust and the way that you make them confident in that is you make promises and then you keep them, right? So as you're doing different things throughout the sales process, you want to make promises and then keep them, right? Hey, Ms. Jones, what I'm going to do is ask you a couple of health questions just to figure out what you qualify for. And then I'm going to show you some prices. And we get into that. And then, guess what I do. I ask her a couple health questions to see what she qualifies for, and then I show her a couple prices, right? I'm making a promise and then I'm keeping it. All these little tiny micro promises, it increases your trustworthiness and the prospect's subconscious mind. And they don't even realize why they like you more, but they just start liking you more and trusting you more when you do those things, right? So again, just to recap, P first P is price 10. They need to believe that they either have the best deal they can possibly get, or it's so close it doesn't even matter, like a few dollars a difference. They need to be able to afford it comfortably, right? Very, very important. The second P, which we need to have them on a 10, this is very, very important is the plan. This is the fine print of what goes on. Is there a waiting period? If there is, why, how does it benefit me that there's a waiting period? You need to be able to explain that to them. How much coverage am I getting for my family? Why do I need that much coverage? How does that all work? That's part of plan. And then how does it work? How does it pay out? How's the policy structured? All the technobabble you need to know, what company is it? Can I trust this company to pay my family? Do they have a good rating? Are they not gonna, Are they gonna withhold a death claim from my family? You need to be able to explain that. And the last P is producer. Do they know like and trust you? Do they trust you can deliver on promises? And do they trust that you will be able to help their family the darkest time of their lives? You need to have 10, 10 and 10 on all these and you will close so many deals you won't even be able to breathe because you'll have so much back end work to do from all of the policies that you sold. So ladies and gentlemen, that is how to sell life insurance like Jordan Belfort. The three tens of certainty, price, plant and producer. Thank you so much for watching this video. If you got value from it, hit that like button down below. Hit the subscribe button for more videos like this. And if you want to learn more about what it would be like to work for our agency Zoosurance where we give you free leads, daily training and all the tools that agents need to make six figures selling over the phone. Then click the link in the description. I'll put together a 20 minute training showing you guys what that looks like. Thank you so much for watching and I will see you in the next video. Peace.