|
I called on Mr. Fish, a member of a contracting firm. His objection was: "I am absolutely not interested in life insur- ance." HOW TO TURN OBJECTIONS INTO SALES 53 "Mr. Fish, you are interested in this partnership, and I have a suggestion." I gave him a complete picture of partnership. I told him that the two most important things in a partnership were, first, his life, and second, his partner's life. I reminded him of the details of a partnership, and the legal aspects that might apply if he or his partner should pass away. I pointed out that the death of either would automatically terminate the partnership, and that this might wreck the business that he and his partner had spent years in building. "How much money do you and your partner have in- vested?" I asked him. He told me. I suggested that the wise and practical thing to do was to cover each partner's interest in the partnership by taking out a life insurance policy for the amount of that interest, and to enter into a partnership agreement whereby the proceeds from the deceased part- ner's life insurance policy were to be used by the surviving partner to buy the deceased partner's interests, thus making it possible for the surviving partner to continue the business of the partnership without legal interruption or entangle- ment in the deceased partner's estate. "That's just what we want," Mr. Fish said. A total of $200,000 of life insurance was placed on him and his part- ner as a result of what he thought was an objection. I called on a prominent physician, who was about fifty- four years old. His objection was, "I am too old for life insurance." At this point, I suggested that he invest some of his money in a $100,000 investment insurance annuity plan, to mature in 11 years. "How does that work?" he asked. I told him that if he was living at the end of 11 years he would get $100,000 in cash, or that he could turn this $100,000 into an income for life, which would give him approximately $10,000 per year. I further explained to him that if he should pass away before the end of the 11-year period, his benefici- 54 HOW TO TURN OBJECTIONS INTO SALES aries would get the $100,000, or the insurance company could arrange to give them a definite, fixed income as long as they lived. I completely submerged the doctor's objection, and I left his office with a check for several thousand dollars to cover the first annual premium. These experiences, relating how to turn objections into sales, are not opinions or theories about selling. They are demonstrative of sound selling technique. |
|||
|
