Top 5 Challenges When Selling Life Insurance

  • Originally published December 20, 2011 , last updated January 4, 2016
Top 5 Challenges When Selling Life Insurance

Life insurance might be the only insurance you’re guaranteed to need someday, but that doesn’t mean it’s easy to sell. You can have prospects who fully acknowledge they need more life insurance, but still don’t buy it because they think it’s too expensive, or maybe they just plain procrastinate.

In their 2011 Life Insurance Market Study, Agent’s Sales Journal and the LIFE Foundation asked agents to list the main challenges to selling life insurance.

Here are the Top 5 Challenges according to agents:

56% Clients procrastinate
38% Finding new clients
36% Clients don’t recognize the need
29% Clients perceive it as too expensive
26% Underwriting problems

In this article Building the Life Insurance Sale: Establishing the Need, we explain how agents can use the Real Life sales concept kits to find new prospects, help them recognize the need for life insurance themselves and how telling stories can help overcome objections as well as procrastination. That takes care of the top three challenges.

How do you overcome challenges to selling life insurance?