New Agent Training PowerPoint

Liberty National LifeClassroom Training

Day OneNew Agent Training PowerPoint

Objective OneIntroduction to Needs-Based Sales

The chief function of life insurance is to pay for a person’s final expenses. Some of the money paid to a beneficiary is used to meet current financial obligations created by the insured’s death. The remainder of the money may also be used to meet future needs of the insured’s beneficiary or beneficiaries.

Totaling the amounts required to pay for current and future expenses is referred to as the ‘total needs approach’ to determine how much life insurance a person should carry.

Needs-Based Sales

1: Final Expenses Funerals cost money. So do doctors, ambulances, and extended

hospital stays for visiting spouses and family.Income, estate, and inheritance taxes,

(because they resulted from death) make up what is referred to as ‘Death Taxes.’

If families are not properly prepared, the death of a loved one can result in financial hardships and difficult futures for surviving family members.

Four Obligations at Death

Even if the breadwinner has their final expenses covered, the surviving family members still have a variety of other financial responsibilities that they have to meet:2: Income ReplacementReplacing the breadwinner’s income in order to

maintain the family’s quality of life.3: Mortgage ProtectionTaking care of the outstanding mortgage loan on

the house (if any).4: College Education ProtectionAllow for funds designated to help pay for college

expenses of the children if the primary insured/breadwinner dies.

Four Obligations at Death

No matter how many of these obligations an individual leaves behind, there’s only one thing that will satisfy them … money.

For this reason, a person who wants to relieve the family of financial obligations and possible hardships when he or she dies will plan to leave them with an estate or money that’s sufficient to cover all needs, even those that are not immediate.

Need for Life Insurance

If Jim dies today, his family would need money for:

The Needs Approach

Need Amount

Final Expense $30,000

Income for 3 years $175,000

Mortgage Balance $200,000

College Cost for 2 children $155,000

Total Cost $560,000

Obligations Need Assets

Final Expense $30,000 $0

Income Replacement $175,000 $200,000 existing term

Mortgage Balance $200,000 $0

College Education $200,000 $0

Total $560,000 $200,000

Additional Total Need for Insurance $360,000

Need for Whole Life Insurance $30,000

Need for Term Life Insurance $330,000

The Needs Approach

Following The Needs Approach ensures that families get the proper coverage that they need TODAY, while also personalizing it to their situation and their income.

Following this approach, an agent can truly protect a family with an insurance plan that is designed specifically for their needs.

The Needs Approach

Objective TwoSituational Presentation

$3,000 ADP Referral Presentation, Married With Two Children, and a Mortgage.

Situational Presentation

Objective ThreeThe Three Components Of Success

Rapport

Needs- Based

Closing

Transitions and Tie- Downs

Three Components of Success

Rapport BuildingEstablishing trust and respect with the client.

The first sale you make in any home, is yourself.

Transitions and Tie-Downs Using the script effectively.

Needs-Based Closing Providing the client with a program designed

specifically for them, their financial situation and their current needs.

Three Components of Success with the Laptop Presentation

In our social media driven society, people purchase products because of:AdvertisingReputationWord of Mouth, etc.

At Liberty National, people choose to protect their family with our products because they like and trust YOU, their agent.

Rapport Building

Our sales process contains 4 steps:Step 1: Build and establish rapport.Step 2: Expose and establish a need.Step 3: Present a product that fills the need.Step 4: Protect the family with the option they

choose. The Diagram on the next slide illustrates the

importance of rapport in the sales process.The more rapport built, the less closing is

needed. The less rapport built, the more closing is needed.

The Sales Process

Rapport 40%

Establish Need 30%

Product 20%

Closing 10%

The Sales Process and the Balance of Human Element and Technology

Agent50% Laptop

50%

In order for someone to want to work with you, they must first:

Why Build Rapport?

Trust You•Anything you say produces tension or trust•Go slow, create trust•Be sincerely interested in helping their family

Respect You

•Be an insurance professional•Speak with confidence•Knowledge is power, arm yourself with insurance knowledge

The FOR Method Of Rapport Building

F (amily)

O (ccupation)

R (ecreation)

Building proper rapport can be as easy as asking the right questions.

How To Build Rapport With The FOR Method

Remember, everyone’s favorite topic is themselves.

Get to know your client by asking them about their family, their job and their hobbies.

The purpose of rapport building is to create trust between the client and the agent.

You should never move into a presentation until you have built rapport and trust with your client.Don’t even take your laptop out of the bag.

Rapport Building: F.O.R.

•Be excited to watch the videos every time•Client is half as excited as you are

Interaction with Videos

•People buy from Agents they trust•People buy from Agents they respect

Be an Insurance

Professional

•Shows you’re a professional •Shows you care about them

Strong Warm Up

3 Parts to Rapport During the Presentation

Today, we will see rapport building explained and demonstrated in a laptop presentation.

Complete Rapport Building Video Training

Follow your training manager’s instruction and role-play rapport building

Role-Play Rapport Building

Objective FourThe No Cost Presentation

The No-Cost section of the presentation allows the agent to give a variety of benefits to their clients at No-Cost to the client. The client receives these whether they purchase insurance or not.

The No-Cost Presentation is valuable for three main reasons: It’s how we collect referrals- who will we see AFTER

this client? It introduces the client to the computer and ensures

they are comfortable for the presentation. It introduces ‘cause and effect’ sales

Video presents a problem, i.e. every 4 minutes someone dies from an accident, and provides the effect, or solution, a No-Cost ADP policy.

No-Cost Presentation

Collect More Referrals

•Use the videos to ask for referrals•Use the script to keep it simple•More referrals come from using the Laptop in the No-Cost section

Establish Cause and Effect Sales

•Problem-Solution•Problem: Every 4 minutes someone dies from an accident•Solution: No- Cost ADP

Cause and Effect Sales•Is used in sales universally•Happens 3 separate times in the No-Cost section•Is the same structure from the Survey to Close

The No-Cost Videos

Liberty National has 5 No-Cost benefits for our clients:

1) Accidental Death Policy (ADP)2) Child Safe Kit3) Discount Card4) Memorial Guide5) Med Facts Kit

Each offer is designed to show cause and effect, put something tangible in the client’s hands and help agents generate referrals.

The No-Cost Offers

The Accidental Death Policy protects the insured with no cost accidental death protection at no cost to the client.

Accidental Death Policy

The Child Safe Kit is a no cost kit designed to help protect your children!

Child Safe Kit

Liberty National’s no cost discount card can help decrease the cost of health service costs for our members.

Discount Card

The Med Facts Kit helps our client’s keep all their medical information in one spot in case they ever need emergency assistance.

Med Facts Kit

Our Memorial Guide helps our members store their final wished and the location of important documents.

Memorial Guide

Remember, one of the main reasons an agent should perfect their rapport building skills is referral collection!

Every No-Cost benefit is a way for an agent to collect referrals. After each video, the agent will take a few moments and ask the client to sponsor any people they know to receive the same benefits:- Who would you like to sponsor FIRST?- Great! Who is next? Who is next? Etc.…

Rapport To Referrals

“Who’s first …” is much better than “Can you think of anyone …”

Always ask “Who’s next?” Even if they say they can’t think of anyone else, bring up another

option; a sibling, relative, neighbor, or coworker and they will think of another then say, “Who’s next?”

Be suggestive: “Most people just look through their phone to think of people.”

Use competition: “Most people sponsor 10, but the most I’ve seen someone sponsor is 27, if you want to try and set the record!”

Overcome an objection: “Whenever the Company sends out a claim check, the family receiving it never sends the check back, they always cash it. Who do you want to help first?”

Referral Collection Tips

Objective FiveRole-Play No-Cost and Referral Collection

Follow your training manager’s instructions and role-play the No-Cost and Referral Collection.

Role-Play the No-Cost Presentation and Referral Collection

Objective SixRead Off Letter

The Read Off letter is a brief letter to our clients. It helps set the stage for what the agent is there to do TODAY and serves as a transition between the No-Cost Offers and the need for life insurance video. It helps emphasize to the need for them to protect their family today.

Read Off Letter