Sometimes the hardest part of the process of selling a fixed indexed annuity is the client’s inability to articulate their concerns. The sale becomes easier if the financial professional has developed trust with the client and knows various techniques for addressing possible objections.
- Discuss the objection. It’s important for a financial professional to ask questions throughout the entire sales process. It means really listening to the client and building commitment.
- What is the real objection? Make sure to keep the conversation moving. Ask them about each product, having them talk about positives and negatives. This way you learn concrete objections and know how to address these fears.
- Address the “buyer beware” issue. Always have information on hand to help your clients better understand fixed annuities. Share reputable and factual information with clients and help them select an insurance company with a strong rating. If approved by your state insurance department, the NAIC Buyer's Guide for Deferred Annuities - FIxed, can serve as a great resource.
- Fill out the paperwork. Help your client through the process so they do not become overwhelmed by the paperwork aspect of the process. Leave it with them in a stamped envelope. This puts everything on their time table.
- They’re talking with another agent. Customers are always talking to other people, so inform the client on the reasons they should work with you. Every client has some sort of financial worry. It’s your job to discover ways to address it.
A successful financial professional comes alongside their client and addresses their objections.
For financial professional use only.