Dealing with Objections While Making Sales

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Hey, everybody. Ernie Kohls coming at you from SLS today. We're going to review one of Alexis Burgers calls. It was just sent to me and I thought I should get it up on the site right away. Uh, so I have not listened to it yet, so I will be stopping the call recording any points that I hear. I guess every objection in the book was thrown at Lexie, which is, you know, a lot of people's questions throughout. I'm sure she handled them very well. So we're going to get right into the call. I will operate kind of as her, so that way you guys can see what I'd be doing on my screen or what Lexie was probably doing on her screen.

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The only thing I don't have up is the vanilla soft because I'm not in her CRM and she's currently after the sale. She got right back to dialing. So first things first, let's start the recording.

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Hello. Hi, Arthur. How are you today?

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I'm fine.

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Good. I'm glad to hear that you're doing okay. My name is Alexis with Senior Life Services. I was giving you a call on behalf of my representative who spoke to you a couple of weeks ago, Zach, about some life insurance for Illinois. Does that ring a bell?

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Vaguely, yes.

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Yeah, I was just following up with for him about that. It looks like he had emailed you some information. Does that sound familiar? Were you ever able to receive that?

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I don't. I don't. I don't think I received the email. Maybe he sent it to my wife or. Okay.

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So, okay, so very little information was collected. Obviously, Lexi was looking at notes. Zach had spoke to them once before.

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But that I'm not sure.

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Oh, okay. And was the life insurance ever something that you were able to get in place?

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No, I haven't followed up on anything because I don't recall exactly what transpired there. But I do remember there was some kind of interaction a while back about that.

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Yeah, it was just a couple of weeks ago. I think it was about like four weeks ago. So that's why I just wanted to get back with you because it looks like you guys had started an application here but weren't able to to actually finish it. But I can definitely help you out with that. We're we're seeing your life services, so we don't work for one specific insurance company. We work for our clients. So my job is just to see exactly what you qualify for and then compare the top companies for you.

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Okay. As I recall, I think I had asked them to send me something in writing because I don't do very well over the phone because I can't see it. I can't put my hands on it and trying to recall exactly what transpired. And most definitely, I won't make any commitments over the phone. First of all, I don't know who I'm talking to.

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And wow, see right there, he's already telling her he's not going to make any commitments.

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Like I said, I prefer to have a document in my hand and I can look at it and.

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Yeah, of course, you know, we got all those documents sent out to you before you would be required to make any sort of payment or anything like that. But we do do all our business over the phone. Ever since COVID started, we're not really sending people out to people's houses anymore just because it started to be a little bit unsafe. And also the reason why we don't usually send out a bunch of stuff is, you know, like I said, it looks like he sent you some information a little over a month ago and just kind of gets lost in the shuffle or you never get around to it. So we really do do all of our business over the phone.

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Okay.

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Is okay is an indication that he understands. So basically, she handled the objection so that she would not have to deal with it later. So that is very important. Listen to what the client says. You can't just ignore that one because you know you're going to ask for some information if the sale is going to go forward.

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But I can definitely look into helping you get something in place. It looks like she had asked you a couple health questions here.

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And so I have here that you are six feet tall and £170. Is that right?

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Yes.

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Okay. And you are a non-smoker, and the only medications you are taking are for high blood pressure.

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Yeah, that's correct.

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Okay, Excellent. And then your beneficiary was going to be your wife, Patricia.

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You know what there was. As I recall, there was I did speak to somebody and I told them that I was taking the main team. And I think your representative said that that's a game changer. Okay.

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I'm just trying to recall exactly what transpired. Has been a couple of weeks ago.

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Oh, yeah. You take a mountain.

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Yes.

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Okay, because that was a mental type drug or psychological type drug or whatever, that it kind of knocked me out of the box.

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You know, I'm not sure if you spoke to somebody from our company, then just because that might have been someone else. We work with about 30 different companies, so definitely that medication can be a problem for certain carriers. But if you're between the ages of 50 and 80, I always have something for you. So thank you for telling me that because it definitely does make a difference. But it certainly doesn't disqualify you from from having life insurance by any means.

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Okay.

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Well, then again, when I tried to measure this out and if the coverage real quick.

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So Lexi. Is basically indicating that, you know, even with the Gerber policy, 50 to 80 will accept anybody without questions. So we're not the only game in town. So somebody probably called them, probably was not as good as Lexi, for one. They also realized they couldn't write the policy because they don't have guaranteed issue. So here at SLS, obviously we have all the options, so we're never going to not insure somebody, especially 50 to 80. Everybody qualifies for some sort of coverage.

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That we're talking about is somewhere around $100 a month as ballpark over 12 months. I'm paying $1,200. It won't be long before I've actually paid more into the policy than the policy is worth.

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Well, that's why it's insurance. You're paying for peace of mind because God forbid you make 15 payments and then you pass away. Your family is still going to get that money. I pay probably $1,200 a year into my car insurance, and nothing would make me happier than if the entire thing goes completely to waste, because that means that I didn't get in any car accidents or anything like that.

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Well, I mean, I don't understand the premise behind insurance, but at this stage of the game, I'm just trying to be really more practical to say that if I have more money in the bank, then the insurance policy is going to provide, then why am I continually paying towards the insurance? Now that's just a practical question. But then on the other hand, one might say, well, it's extra, you know, but again, the cost is prohibitive to say that I'm going to spend $1,200 a month for $10,000 worth of coverage.

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It won't be long before I've paid into the insurance premiums more than what the policy is worth.

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Right. I mean, well, it will be a pretty pretty long time. You like you said, let's say if it was $100 a month, you're looking at paying on it for ten, ten years before it would have had more money in it than you put in. And, you know, at 75, you know, the average life expectancy of a male in the US, I believe is about 78 right now.

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Yeah, that's about.

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So yeah, but.

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So basically she is addressing this, you know, dead on immediately. So that way she is not having to deal with this later. I wrote down here in the notes like most of our clients would have saved money. They wouldn't be our clients. Just like when we spend the money that's in our pocket, almost all of us are, you know, guilty of that. And like, as our income rises, we buy nicer cars, bigger houses. We, you know, go out to eat more. You know, we enjoy our money. And it's rare for our clients to actually save that money.

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So she is just handling this now. So that she doesn't have to deal with it later.

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70, 78.7. Nine years, just under 79. So you're seeing where are they? They're making those estimations and how those prices are being calculated there. You know, and even if you were to say like even if you have $15,000 for your funeral, sitting in your checking account right now, the day that you pass away, all that gets completely locked up. Nobody has access to that money until it goes through probate and all those things like that. Money doesn't just get immediately released to your family.

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So the reason.

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Unless it's a joint account, if it's a joint account like it is, then my wife would have immediate access to it.

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So so that's good. And it's also not something, you know, nobody wants to have to take $15,000 out of their their account to to pay for a funeral or something like that. So like you said it.

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So this is very good. Um, this guy is no dummy. He knows exactly how that would work. So she's just making good points and she's staying on this objection because there's no reason to move forward. He had spoke with somebody named Zach. It's probably Zach Scott Galloway in our company. Zach, you know, got very basic information, looks like only height and weight. So Lexi basically had to start over. If there's no information into the vanilla soft, that's really useful, you kind of have to start over. So that's why she's she's dealing with this now. So that way she, you know, she can present and still close.

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It would just be something to pay out immediately to Patricia so that she wouldn't be having to deal with that or having to take the money out of her checking account and things like that. You will be going down to one Social Security. So those are all things to think about.

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Yeah, that's true.

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That's true.

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Okay. Okay, So where do we go from here now?

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So based off of everything that you're telling me, I think that a company called Gerber would be the best option for you. You probably heard of them before, like the baby food.

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So, guys, he said the word memantine. This is an Alzheimer's medication. Get used to Googling this kind of stuff. She is skipping some of the body of the presentation. It's not recommended all the time, but she already knows what he qualifies for. Apparently he spoke to other people about this. He knows what insurance is. You know what a whole life policy is. So basically, she is going to go into quoting, I don't know where she's going from here, her here, but I'm sure she's going to build some value along the way.

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Yes, I'm familiar with them.

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Yeah. So they do whole life policies. Do you know the difference between whole life and term insurance?

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I'm a retired insurance agent.

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Yes.

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Oh, okay. Used to sell insurance.

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Yeah, I did.

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Oh, okay. Mean, you're asking me these questions. Then you already know why this is important.

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I mean, it's somewhat rhetorical, but I do know the life insurance industry. I mean, I've forgotten a lot, but I still have a basic knowledge about life insurance and understand the practicalities of it and the ins and outs.

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I mean, do you already have anything in place?

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Yeah, you know, I do have I still have my government policy in place. And I do have a policy that's going to expire within the next 18 months or so, something like.

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That, like a.

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Term policy that's about to end.

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It was kind of like a term policy, but it was it was limited time, I'll put it like that. So it was it's going to expire before for a long period of time. And so therefore, my wife

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got a hold of my insurance broker and told him, hey, look, let's get started on this. And what he came up with was.

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Somewhat exorbitant.

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And then the game just continued and it got down to to you all, not to put you all down the totem pole.

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No, I.

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Understand sometimes you've been working with the same person for a long time, but they might not have access to to all the products that are available to you.

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Yeah. Yeah.

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Another basically, it wasn't really an objection. She's just handling it very casually. She handles all objections very casually because you can't make them a big deal, otherwise they will become a big deal.

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Well, I mean, this guy, he was he's a friend of the family, a member of the same church that I go to. And so he's been my agent for many, many years. But he was just upfront to say it's not too much more that we can do for you on a practical basis. So the back, you know,

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that's kind of where I'm at right now.

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Oh, well, that's kind of a bummer.

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Yeah, it is. But then again, my big question that's in the back of my mind is like, why did I need insurance? But you addressed that already said, look, if you're going to pay out of pocket for it, that's going to lower the available funds for my survivor to have available to her if in fact that you don't have a policy. So hence we're back to square one to say,

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I'm listening. I really am. I'm listening. And what you're saying and I'm not dismissing you, if I was dismissing you out of cut the call off.

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Now, trust me, if I feel like I was being dismissed, I would already hung up. So don't worry. Yeah.

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Yeah.

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That is a very bold statement. And Lexi is. She does not waste her time with people that are not going to be sales. So, you know, that is absolutely true. She would kindly just get off the phone. This is not somebody who needs the product, can afford the product, whatever the reason is. Yeah.

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I understand and I understand your concern.

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You know.