April 2008

Thursday, April 24, 2008

Life Insurance for Every Stage in Life
"Life Insurance is a combination of caring, commitment and common sense." ~ Howard Wight, Red Letter LanguageMost people will need more life insurance when they reach 65 than they need at 35, if they are married with two children and a mortgage. Times have changed, but many advisors are still selling life insurance as if people are going to die at 65 years of age. With today's mortality tables, people need long-term, permanent life insurance. The current statistics show that for every 100 people starting their careers at age 25, by the time they are 65, 13 will be dead. That means 87 are still alive. There's a good chance they'll need more life insurance then than they do now. They will need personal permanent life insurance.The old axiom is still true that people are going to die before 65 or after 65 - one or the other. Most will die after 65. The older they get, the more needs they have. We want to be selling life insurance for all stages of life. Shown below is an outline that we've prepared showing the importance of life insurance for every stage in life. (Click here for a printable version.)CHILDREN• Guarantee Insurability• Cash Value Accumulation• Final Expenses• Lower PremiumsSINGLE• Guarantee Insurability• Cash Value Accumulation• Final Expenses• Lower Premiums• Debt ProtectionMARRIED/NO CHILDREN• Guarantee Insurability• Cash Value Accumulation• Final Expenses• Debt Protection• Mortgage Acceleration• Income Needs• Lifestyle ProtectionMARRIED W/CHILDREN• Cash Value Accumulation• Final Expenses• Debt Protection• Mortgage Acceleration• Income Needs• Lifestyle Protection• Future Funding for Emergency• Education FundEMPTY NESTERS• Cash Value Accumulation• Final Expenses• Debt Protection• Mortgage Acceleration• Income Needs• Lifestyle Protection• Future Funding for Emergency• Maximize Pension• Social Security Offset• Replace Group Insurance• GiftsSENIORS• Final Expenses• Debt Protection• Mortgage Acceleration• Income Needs• Lifestyle Protection• Future Funding for Emergency• Maximize Pension• Social Security Offset• Replace Group Insurance• Gifts• Equalization of Inheritances• Legacy/Charity• Wealth Replacement• Dynasty Trust FundingJack and Garry KinderThe KBI Group
Posted by CTIbpo at 9:52 PM

Closing the Sale: Action
"Confidence is the fuel that drives persuasiveness." ~ Calvin FooThe ability to persuade and close sales is still the most important factor in any advisor's career. The fundamental principle of the close is that you must be persuasive and tell your prospect that you want him or her to act now on your recommendation. If you hesitate in doing this -- if you hold back, if you are timid, if you are vague -- you may have many pleasant interviews each week, but you will seldom have any sales. Nothing is more important during this part of the selling process than your confidence, born of thorough preparation. You must have a strategy for closing.We teach the following five-step strategy for closing:• Step 1 - Owner Benefits.Make summary statements regarding owner benefits. "We feel, and we think you'll agree, Bill, we have ..." "First, this plan ..." "Second, our plan provides ..." "Finally, the plan provides ..."• Step 2 - Final Look.Place the proposal in front of your prospect and ask him/her to give it a final look. Listen and watch for opportunities to encourage and reinforce your prospect's realizations regarding various facets of your plan's owner benefits.• Step 3 - Strategic Move.Ask two questions with the first being a controlled question. By that, we mean the response you'll receive is predictable, one that almost invariably gets a favourable response. "How do you like the work we've done and the plan we've personalized to you and your family?" (Record name of plan on application.) "Secondly, are you comfortable with the amount based on your current budget and the dollar range you suggested we work with?" (Record amount on application.) You'll often meet some resistance in asking about the amount. However, you have positioned yourself to close the sale when you received a favourable response to your plan. The important attitude to develop and maintain is that the sale must be closed; it seldom closes itself.• Step 4 - Prospect's Idea.After you record the amount on the application, move to secure consent on a minor question. This gives prospects control of the idea to take action on your recommendation. You can say: "Bill, would you prefer to handle the premium annually or on our monthly check-o-matic?" People love to buy but are reluctant to be sold.• Step 5 - App with Check.After the question regarding how the prospect wants to handle the premium, you move ahead with this statement: "Bill, I need your check for $1,027 made payable to (company)." Next in importance to the early minutes of the initial contact is the time when you ask for the check for the initial premium. This should be done in a very matter- of-fact manner. Once you get the check, you are properly positioned to complete the application in its entirety. You get the check, then fill out the app.Carry this Pocket Reminder with you. Read it several times a day. Memorize it. We believe you'll beat last year's performance!POCKET REMINDER: Closing the Sale: Action• Your confidence born of preparation is the key.• The sale must be closed; it seldom closes itself.• Step 1 - Owner Benefits• Step 2 - Final Look• Step 3 - Strategic Move• Step 4 - Prospect's Idea• Step 5 - App with CheckMaster your closing strategy.Good luck and good selling,Jack and Garry KinderThe KBI Group
Posted by CTIbpo at 9:49 PM
Wednesday, April 9, 2008

Service & Prospecting
"Prospecting is the bloodlife of our business"Serve what you sell. Clients want consistent service from start to finish. Make certain your prospects get more in the way of service from you than they expect. Make certain they get more than they pay for. Make certain they get more from you in the way of service and information than they can possibly get from your competitors.The key to your success is recognizing that most of your time must be spent prospecting and arranging interviews so that you show contracts and proposals to people who can and will buy from you. They will buy from you because you arrange to get in front of them and they like you and the manner in which you sell.The importance of prospecting and its contribution to your success cannot be overrated. An important sale you make is the one you make to yourself relative to being and staying prospect-minded. Professional Advisors regard their prospect file in the same light as they regard their personal bank account; they know that they must make regular deposits to offset withdrawals. If they fail to do this, they will be going bankrupt with their prospect account.Where will you find these "new deposits"? There are numerous sources of prospects. We will discuss the major sources relevant to selling at MDRT levels. The "bottom line" prospecting goal is to develop Qualified Leads who can be seen under favorable conditions. If you are to achieve superior results, prospecting must become as natural as breathing. It will, if you conscientiously and consistently do these two things:1. Pay Attention.Successful Advisors observe. Keep your eyes and ears open. Do more than just look, see something. Do more than listen, hear something. Make notes. Develop an alertness and a probing, inquisitive attitude.2. Maintain an up-to-date "reservoir-building" file.Here's where you organize prospect data and other important follow-up information. The primary purpose of such a file is to provide you a system for bringing names of Qualified Leads to your attention at a time when it's best to make contact with them.This should not be a "hope chest." It's not a sign of success to have a bulging file of "dead wood." The only "reservoir-building" file that works is one containing bona fide Qualified Leads -- individuals who will appreciate the kind of work you do and the plans and services you offer.It's trite to say, but it's still true, prospecting is the lifeblood of our business. You can call it what you want -- target marketing, networking, relationship marketing -- however you address it, it still comes out the same -- it's the gathering of qualified names with proper introductions and endorsements.Carry this Pocket Reminder with you. Read it several times a day. Memorize it. We believe you'll beat last year's performance!POCKET REMINDER: Service and Prospecting• Serve what you sell.• Pay attention.• Maintain an up-to-date "reservoir-building" file.Make 2008 great in every way!Jack and Garry KinderThe KBI Group
Posted by CTIbpo at 6:01 PM

Smile -- Happiness
"The shortest distance between two people is a smile." ~Author UnknownWould you like to be welcomed wherever you go? Did you know that the voice with a smile almost always wins?Soon after Frank Bettger started selling, he discovered that a worried, sour expression brought results that were just about infallible - an unwelcoming audience and failure.It didn't take him long to realize that he had a serious handicap to overcome. It meant a complete change in his outlook on life. Here is the method he tried. It began to show results immediately in his home, socially, and in business.Every morning for 15 minutes he determined to cultivate a big, happy smile, just for that 15 minutes. Bettger soon discovered, however, that it couldn't be an insincere, commercialized smile, developed just for the purpose of putting dollars in his pocket. It had to be an honest-to-goodness smile from down deep inside, an outward expression of happiness from within!It wasn't easy at first, but he kept at it. Bettger made it a practice before going in to see prospects to stand outside their office and think of all the good things he had to say and offer. As a result, he was always smiling when he walked through the door. It made an impact on the people on the other side of the door -- they smiled back!As you begin to develop a voice with a smile, consider the following:1. Research indicates that feelings follow action. Put this theory to the test: Practice smiling and see what follows.2. Studies have been conducted for years by telephone and advertising companies that show the voice with a smile wins. Even in our high-tech culture, it still matters greatly about the voice on the other end of the line. Companies spend millions to have just the right voice on their automated systems.3. Smiling can be the start to cultivating happiness. We begin to expect good things to happen and most of the time, they do.Frank Bettger discovered that he could cultivate happiness with a smile. He practiced smiling with his children, his wife and his business associates.This is our challenge this week: Start developing a voice with a smile by picking up the phone to set that next appointment - AND SMILE. The voice with a smile almost always wins.Carry this Pocket Reminder with you. Read it several times a day. Memorize it. We believe you'll beat last year's performance!POCKET REMINDER: Smile -- HappinessBe welcomed wherever you go - start cultivating happiness with your smile.• The voice with a smile almost always wins.• Practice smiling 15 minutes in the morning.• Smile before going into prospects' offices.• Smile at your children.• Smile at your spouse.• Feelings follow actions - see what feelings begin to follow after one week of practicing smiling.What do your prospects hear and feel on the other end of the line?Jack and Garry KinderThe KBI Group
Posted by CTIbpo at 5:55 PM

When to stop selling
"It is as important to know when to stop talking as when to start." Dr. Napoleon HillMuch has been written about the "psychological moment" to make the close. Today most students of selling believe that "the moment" can be created several times throughout the selling process. We say, close early, close late . . . close anytime the prospect gives you the indication that he or she is ready to buy.Learn to watch for these buying signs:1. Words and QuestionsThese are some of the most important buying signs. What your prospect says and how he or she says it can be very meaningful. Questions should almost always be interpreted as buying signs. Some examples include, "What discount do you allow for cash?" or "When will this take effect?" Generally speaking, questions indicate interest. Questions as pointed as these tell you your prospect is waiting for you to bring the interview to a close.2. Prospect's AttentionThe prospect's attitude often betrays his or her interest. The prospect leans forward, rubs his or her chin, pulls an ear or scratches his or her head. These actions are revealing an "almost persuaded" attitude. Likewise, when a prospect re-examines the product or contract, the time has arrived for you to close.3. An Act of HesitationWhen your prospect hesitates just for a moment over one article or item, this is an important signal. You may have uncovered the prospect's need and a reason to buy now.4. Tone of VoiceEven a slight raising or lowering of the tone of voice will give you an indication of interest.5. Facial ExpressionsMost people betray their thinking in their expressions. Watch your prospect's eyes for a look of interest. Many feel that eyes tell you more than words.Stay alert - pay attention. Be able to recognize and read your prospects through the body language and other indicators we have described. Whenever you are reasonably sure you have a buying sign, then act - attempt a close.Jack and Garry KinderThe KBI Group
Posted by CTIbpo at 5:50 PM
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