The Felt, Feel, Found Method
Introduction:
In the fast paced world of the Life Insurance Industry, agents encounter challenges when dealing with potential clients who raise objections. These objections can take forms ranging from a simple "I'm not interested" to concerns about affordability. However, one challenging objection to address is the belief that final expenses can easily be covered out of pocket. In situations employing a method known as "Feel, Felt Found" can play a role in helping clients recognize the value of financial protection.
The Method:
The "Feel, Felt Found" method extends beyond being a sales technique; it is an approach designed to assist potential customers in understanding how a product or service can cater to their needs and resolve their problems. Here's how it operates:
Felt: The initial step involves identifying and acknowledging the pain points or challenges faced by customers. It entails delving into their experiences and demonstrating empathy towards their situation. Active listening becomes essential as agents strive to uncover their clients' needs and concerns.
Feel: This crucial stage involves reflecting back the customers' emotions to them. By expressing an understanding of how they might feel about their challenges or pain points, salespersons demonstrate empathy and comprehension of the customer's perspective. The last step involves the salesperson introducing their product or service as a solution to the customer's problems. They do this by sharing stories or examples of how other customers in similar situations have benefited. This approach helps the customer visualize how the product or service can meet their needs.
Found: The final step is where the salesperson introduces their product or service as a solution to the customer's problems. By sharing stories or examples of how other customers in similar situations have benefited, the salesperson helps the customer visualize how the product or service can address their needs.
Putting the Method into Practice:
The "Feel, Felt Found Method" offers a way to address objections with empathy and understanding. By acknowledging clients' concerns and sharing how others have overcome doubts, agents can build trust and credibility.
For example, discussing the burdens of unexpected expenses like nursing home stays helps clients understand why planning ahead with a Final Expense plan is crucial. Additionally, highlighting benefits of Final Expense Insurance such as ensuring cash benefits go directly to designated beneficiaries acts as protection against creditors.
By asking thought-provoking questions, agents can encourage clients to think about practicalities when it comes to handling arrangements without coverage. When faced with concerns, it's important to address them by explaining policy benefits. For example, discussing forfeiture options and terminal illness coverage can help clients fully understand the protection provided by Final Expense Insurance.
Conclusion:
To sum up, effectively handling objections in the Final Expense Market requires empathy, expertise, and strong communication skills. By using the "Feel, Felt Found Method" and emphasizing the advantages of Final Expense Insurance, agents can empower clients to make decisions about their financial future. The ultimate goal is not to make a sale but to ensure that clients feel confident and secure in their choices. With the right approach, objections present opportunities to strengthen client relationships and offer peace of mind.