Timothy Schucker handles eight common life insurance objections while sitting in a cold plunge. He shows how to ask if customers want lower rates or more coverage, space first payments 30 days out, and drop prices until they fit the budget. He also reminds prospects they get a 30-day review period after the policy arrives.
Questions this video answers
January 12, 2024.
Eight objections.
Up to 30 days.
Up to 30 days to decide.
Chapters
All right, what's going on, guys? We're about to do objections in a cold plunge. It's raining right now, and there's also a tornado watch, so if I have to get out in an instant, that is why. So without any further ado, let's go ahead and jump into this tub. I got eight objections I'm gonna overcome, and we'll see how I do here. I gotta hold the umbrella to keep the mic safe, so hold on, let.
Me close the door.
All right, let's get to it.
Boy, that is cold.
All right, all right. Objection number one. I already have insurance.
Got it, Got it. Okay, perfect. I mean, most of the people that I talk to already do. I'm curious, when you sent this foreman, were you looking for rate reduction or were you looking to add more?
Do I keep going?
Yeah, keep going.
More insurance, more objections.
Oh, no, please, just skip to the next one.
Okay. I need to think about it.
Yeah, yeah, Rachel, I think that makes perfect sense. I'm curious, when you say that you need to think about it, is there something, like, specific about the policy? Maybe, like, the price being too high or something? I want to make sure that we can find something that fits into your budget.
Okay, I have a really small budget. Like, I really can't afford a lot of insurance.
Okay. Yeah. So in this case, I would basically just price drop until I find something they can't afford. And then if, like, basically what will happen is if you price drop to a certain point, they'll be like, oh, well, that's not enough coverage. I'm like, got it. So is it a question of, like, can you find more coverage for the value that you're getting? And if you are a broker and you offer all the products, you should be able to offer them the best rate. And so then if the objection is price, like, basically whenever they say I need to think about it, there's usually another rude objection. So if it's a price objection, I'll uncover that. And if they keep going, basically what I'll do is I'll be like, okay, perfect. And I'll mock set an appointment to be like, okay, well, how long do you think that you need to think about it? Right. Yeah. Yeah. So that's how I would do that one. Mock set the appointment. We have a video on YouTube that shows you how to do that next one.
I want to, but a lot of expenses have just come up.
I totally get it. I know how crazy things are with inflation and gas and everything like that. I think that makes perfect Sense. I mean, what we can do is we can actually space out the first payment up to 30 days out. That way you don't have to. You don't have to pay anything today. We'll just go ahead and apply, make sure that we can get you approved, and then that first payment won't come out until 30 days from now. Does that work for you?
Perfect.
I need to talk to my wife first.
So this is basically the same way I would do the talk to son or talk to daughter. It's pretty much the same objection either way. Basically, I'd be like, okay, perfect. And, you know, Ron, is there something specific about the program you think your wife wouldn't like?
No, I just think she should know about it.
Okay, 100%. 100%. So let me ask you, is this something that you guys have had a conversation about before, or have you guys never talked about this kind of thing?
Yeah, we've talked about it.
Okay. And from your conversation with her and, you know, obviously, I just want to make sure you guys are on the same page. I don't want to push you to do anything that you're not comfortable with. But when you guys have talked about it.
No, not at all. No.
Okay. So she wants you to get coverage is what you're saying?
Yeah, I guess she does.
Okay. Well, in that instance, I mean, Ron, I guess.
What, like, why do you think that she would be against something she already doesn't approve of if. If you don't have any coverage and she's against that? I mean.
Do you think that she would be against you applying and, you know, at least seeing if we can get you accepted?
Oh, so I'm just seeing if I can get accepted?
Exactly. Yeah. Basically, we're just seeing if we can get you accepted. And then essentially what we'll do is the insurance company will mail that policy to you. That way you and your wife can both look over the whole thing, and you guys have up to 30 days to decide if it's something you want to do.
Perfect. All right, last one. All right. It's just too expensive.
Okay. Yeah. So whenever someone gives me this objection, basically what I'll do is, like, the cool thing about insurance is you can price drop. So I mean, I'll just price drop until it's in their budget. I totally understand. You know, the most important thing is making sure that we can find something in your budget, and then I'll just go down 20 or 20 to 40 bucks from where I'm at. So if I want at 120, I'll show them between 180 next time. So then I'll show them that. That kind of option. And if they keep saying, like, oh, it's too expensive. Too expensive down to a certain point, then it's not a matter of it being too expensive, it's that they don't value it. So, again, I would basically just be like, okay, Rachel, I mean, that makes perfect sense. Let's. Let's look at something a little bit less. Do you think that would be helpful?
Oh, yeah.
Okay, perfect. And then I'll just price drop. And then if she's like, no, that's not my range. Whatever, whatever. I mean, I'll price drop. And so she's like, well, that's not enough coverage. Nobody got it. So, I mean, I totally get that sometimes when we apply for these kind of things, we're not able to get as much as we may want. But the thing is, with you saying that you want to protect your son, I have access to all the top companies in your state, and based off of what the health conditions that you told me that you know you had, this is going to be the best deal that you'll get the most amount of coverage for the lowest possible price. So, you know, Rachel, I don't want your son to get stuck in a situation where he's having to pay for this. And I totally understand what you're saying, that maybe this isn't, like, exactly what you had dreamed of that you would be getting, but don't you think it would make a little bit more sense to go ahead and get something? That way your son isn't stuck having to pay out of pocket for this. All right, am I out of the ice pack yet? All right, this is the best part, because now all of a sudden, you feel warm.
Yeah, you feel warm right now.
Hell, yeah. Your body starts heating up. So, yeah. Thank you guys so much for watching. I thoroughly enjoyed that. It's actually not as bad it looks, and no tornadoes today. So thank you guys so much for watching this video. If you guys want to see a little bit more in depth of a video where we show, like, how to overcome the I need to think about it objection, which is the most common one, then click the link right here and check out this video. And then if you guys want to learn more about applying to our agency after watching me do that, if you're like, hey, I want to work with this guy, then click the link down below and learn more about what it would be like to work with us. Thank you guys. So much for watching. Take it easy. Take care. Peace.
