07 Aug How to Successfully Sell Life Insurance [Rare Motivational & Law of Attraction Book] Part #1
How an Idea Gave Me Faith
First, I analyzed the principle of life insurance thoroughly to determine its value and to appreciate its worth. I concluded that it was a very excellent idea. I liked the idea of the protection it could provide. I liked the idea of the estate it could create. I liked the idea of the savings account it could establish. I liked the idea of the income it could guarantee for old age. In fact, I liked the idea of all the benefits that life insurance could provide for the individual and his family.
This analysis of life insurance gave me a comprehensive interpretation of its function and a clear picture of the benefits that it could provide for the prospect. I was thoroughly convinced that it was a good idea; a sound and practical proposition. I firmly believed that I could sell it. I had faith in it.
Faith is believing in something, and so it remains until you demonstrate your ability to fashion faith into reality. Now arose the question of how I could convert my faith into results by selling life insurance. How could I get the idea of life insurance and its many benefits over to the prospect? How could I convince the prospect that it was a safe place for him to invest his capital? How could I make the prospect feel as I felt about life insurance?
How I Converted Faith into Results
I decided that the only scientific way for me to demonstrate my faith in selling life insurance was to create a sales plan that would carry the message of its benefits and values to the prospect and convince him that he would enjoy satisfaction and peace of mind by owning it. It was up to me to use my ability and draw on the hidden power within and create a sale that did not exist before.
In applying your ability to think and create a sale, it is wise to get the right attitude toward yourself as well as your product. You must realize that you are not merely a rag, a bone, and a hank of hair-you are greater than your body. Your power to think does not confine you to your own skin. You can project thought. You can organize and visualize the ideas and thoughts about the thing you sell with such power that it creates a sale. To do this scientifically and effectively, it is essential to build these thoughts and ideas into a plan.
What is a plan? A plan is a method of action, procedure, or arrangement. It is a program to be done. It is a design to carry into effect an idea, a thought, a project, or a development.
Therefore, a plan is a concrete means to help you fulfill your desires. In the field of selling, your desire is to create sales and render a useful service. To do this effectively, it is wise to have two plans:
First, a plan of operation to govern, guide, and control your general activities. To organize and arrange your activities each day is to save time, conserve energy, and eliminate chaos. The orderly arrangement of time will guide and direct you through the labyrinth of the most busy day.
Second, a Sales Plan to govern, guide, and direct your sales procedure.
Prospects are influenced and motivated to action by ideas, and the more quickly they receive ideas about the value of the product, the sooner they will react. I decided that life insurance was an idea guaranteeing many valuable benefits to the prospect and his family. I also decided that the quickest, the most practical, the most efficient, the most feasible, and the most scientific method of carrying that idea to the greatest number of prospects in the shortest period of time was by means of a Sales Plan.
The Essentials of a Good Sales Plan
I had plenty of prospects. What next? I needed a sales approach. It was only good sense on my part to create a Sales Plan that would set forth, in plain, understandable language, the many benefits and values of life insurance, and what they really meant to the prospect. The Sales Plan to present these important ideas had to be good, compelling, and concrete. It had to contain the power to attract the attention of the prospect. It had to possess the power to arouse the interest of the prospect. It had to create the power to stimulate the desire of the prospect. It had to generate the power to persuade and convince the prospect to act.
I spent many many hours of study and meditation in creating this Sales Plan. I checked, I double-checked, I analyzed, I visualized. Was it interesting? Was it comprehensive? Was it stimulating? Was it concise? Was it persuasive? Was it convincing?
Every idea, every sentence, and every detail was attended with the strictest attention. Every word was studied for the correct pronunciation, for the proper enunciation, and for the right sound and inflexion. Every thought in each sentence was studied for proper emphasis. Every particular was weighed and balanced. Nothing was taken for granted, and no detail was overlooked. When I had this Sales Plan in good form, I memorized it. I read it out loud many times. I dramatized it. I felt it. I lived it. I perfected it. Then I used it. The Sales Plan presented a good proposition and a sound idea. What about the prospect? Was he attracted? Was he interested? Was he stimulated? Was he convinced? The results were beyond my fondest expectations. That Sales Plan sold millions of dollars worth of life insurance.
How to Use the Law of Attraction to Make Sales
The laws of the universe are abstract until we begin to understand their principles and discover that these scientific laws are as close to us as our elbows. According to scientific theories, the universe is held together by the Law of Attraction. In physics you were taught that the law of Attraction is a force acting mutually between particles of matter, tending to draw them together.
A law of Attraction also operates in selling. It is the formula, the process, the method, the plan, and the act you employ to attract the prospect. The more you know about the prospect and the situations that control his acts, the more quickly you can attract him. Attracting the prospect calls for a combination of science and art. Science instructs us what to do. Art teaches us how to do it. Through observation, experience, reflection, and reasoning you can analyze the prospect. You can uncover the reasons that influence and motivate him to act.
Prospects are governed and motivated to action by ideas. Compounding ideas into a scientific Sales Plan and presenting them in logical sequence stimulates reaction and leads to quick results. Human nature is fundamental. You can be fairly certain what reaction you will get from people when you present them with a certain definite idea. A positive idea in action always produces a reaction. This reaction will be favourable if the plan to convey the idea is scientifically prepared.
The Three Sources of Sales
In analyzing the prospect, we find his acts to buy are controlled by three sources. So important are these three sources that I again enumerate them. By all means, initiate them into your activities and appropriate them to your use.
First: The prospect has a desire, and a desire is an unfilled want, seeking satisfaction.
Second: The prospect has an urge, and the urge stimulates and incites him to buy;
Third: The prospect has a reason, and the reason is based on definite knowledge of an established need.
A Good Sales Plan Can Create a Market
In my experience I have sold many different things. I have sold advertising, paint, cement roofing, oil, varnish, directories, patent churns, electrical appliances, washing machines, books, entertainment, billboard advertising, toothpaste, shoes, tailor-made suits, and all kinds of insurance, including life insurance.
Strange as it may seem, it has always been necessary for me to create a market, or a demand, for everything that I sold. It entailed the power of creative selling. It was either create a sale or starve.
In selling, it was never a question of prospects-I always had more prospects than I possibly could see. My problem was to cover the available prospects effectively and efficiently. To do this, it was necessary to have a good sales approach.
Therefore, I spent many hours in preparing and creating a good, concrete Sales Plan, around the product or service that I was endeavoring to sell. This Sales Plan needed the qualities and attributes to attract the attention of the prospect, to arouse his interest, and to stimulate his desire . It also had to have the dynamic power to convince, and to motivate and impel the prospect to act. This Sales Plan had to center the prospect’s thought on my proposition to the exclusion of all others.
You Must Plant Ideas to Harvest Sales
Selling is a good deal like farming. In farming, the farmer must plant the seed. He knows that he must sow before he can reap. The farmer and the salesman are alike. The farmer plants seeds. The salesman plants ideas. Your ideas, like seeds, will never grow a crop unless they are planted. The salesman reaps as he sows. The more ideas he sows, the more sales he will reap.
Therefore, 1 realized that in order to reap a harvest of life insurance sales I must sow a crop of life insurance ideas. I also realized that these ideas must convey to the prospect the real value of life insurance and the advantages that it meant to him and his family. They must satisfy the prospect’s sense of caution, security, and safety. Therefore, it was necessary to create a Sales Plan around the needs of the prospect, conveying the idea that life insurance would satisfy those needs.
In building and creating this Sales Plan, I studied life insurance from every angle. Not a phase was overlooked. I sought every available source for knowledge and information. I read every book that I could find on the subject. I compared all major companies. I analyzed all important types of policies, including term insurance, ordinary insurance, 20-payment life insurance all kinds of endowment life insurance, all forms of annuities, and all forms of retirement income plans. I reckoned with mortality tables, compound interest tables, life expectancy tables, cash reserves, disability clauses, and tables and clauses for optional settlements. I studied the protection that life insurance affords to partnerships, executives of corporations, and the interests of individual proprietors. I searched tax law s relating to estates, wills, and trusts. I familiarized myself with inheritance tax laws, both state and Federal. The social, economic, and financial aspects of life insurance were carefully weighed, analyzed, and considered.
Get the Facts, Then Study Your Prospect
I found that the institution of life insurance was one of the sustaining pillars of our American economy, and it was worthy of the attention of any prospect. After getting thoroughly saturated with all the knowledge pertaining to life h1hiifj.[!§, I began to study the prospect. Where does he fit in? Where is his place in this great network of economic, social, and financial relations? I found that the whole system of life insurance was set up for one purpose only, and that was to serve the needs of the prospect. A life insurance policy was a declaration of financial independence, embodying guarantees that would solve the prospect’s family problems, help him to solve his estate problems, help him to solve his retirement problems, and help him to realize his hopes, ambitions, and needs. The prospect was not aware of all the wonderful things that life insurance could do for him. I must tell him.
In creating this Sales Plan for life insurance, I felt I had a lot in common with the prospect. I knew he had a family, a home, a job, and, in all probability, a lot of unfulfilled desires. I appreciated one great fact about the prospect: he was a rational human being with problems and needs and would listen to an appeal on how to meet them, based on common sense and reason.
Therefore, with a good understanding of life insurance and with the prospect as the center of interest, I fitted a life insurance policy about his shoulders. I made it talk. I made it reveal its benefits and what they meant to him and his family. This is the Sales Plan I created. In this Sales Plan I refer to the prospect as “Mr. Doe” and the insurance company as “Every Man’s Life Insurance Company!’
How to Present Your Sales Plan
I call on Mr. Doe and say in a friendly and positive way, ” Mr. Doe, my name is Earl Prevette.” I pronounce my name very distinctly, then proceed: “Every Man’s Life Insurance Company is offering a combination life insurance and investment plan to business and professional men. Mr. Doe, this plan does four definite things for you.”
Then I enumerate these things as follows:
“First: This plan immediately creates for you and your family an estate. This estate, Mr. Doe, is unlike most estates. It never depreciates in value, and is always worth 100 cents on the dollar. It is free from all liens, mortgages, and liabilities. This estate can be administered for your family so as to be exempt from certain taxation.
“Second: This plan establishes a savings account for you after the second year. A very valuable feature of this savings account, Mr. Doe, is that it is always available. It stands at your elbow ready at a moment’s notice to furnish you with ready cash to cover any unforeseen contingencies, or to meet any emergencies that might arise.
“Third: This plan pays all future deposits for you, in the event that you should become totally disabled through any kind of disease or accident. This guarantees your estate and keeps your savings intact.
“Fourth: This plan makes it possible for you, Mr. Doe, to retire with an income for life at any age between fifty and sixty-five. This income will be guaranteed to you as long as you live, with absolute assurance that every dollar invested in the plan will be returned, either to you or to your beneficiaries .”
This Sales Plan contains approximately 200 words and requires about one and one- half minutes to deliver. It gives an idea of the benefits of life insurance. It is at rue and concise statement of fact It does not attempt to define Life insurance. with its many technical terms. On the other hand, it presents a very comprehensive picture of what life insurance will do for the prospect and his family, and does it in a very understandable way. It is spoken in his language, and he understands it immediately. He quickly senses that this plan is an opportunity to do some real things for himself and family. By taking on the plan, he feels he will be adding to his family’s welfare and to his own happiness and peace of mind.
The prospect says to himself, “An estate for the family- a savings account for an emergency- an income for the breadwinner. What more does a man want?”
Excerpt from “The Power of Creative Selling” by Earl Prevette
Earl Prevette was a highly successful salesman and author. He taught the principles of using the abilities within to achieve your goals. On February 21, 1947, in Ripley’s “Believe it or Not,” under a pictorial sketch of the author of this book, was listed the following information:
He personally completed 32 courses in law, passed the State Board of Examiners, became a licensed attorney-at-law and graduated college all within five months.
A native of North Carolina. Mr. Prevette received a bachelor’s degree from Wake Forest College in 1915 and was graduated from Wake Forrest Law Scool in 1919.
He moved to Philadelpia in 1930 and a year later joined the Equitable Life Assurance Society. From 1929 to 1952 he was associated with the Sun Life Assurance Co. of Canada.
Among is books are “How to Sell by Telephone,” “How to Turn Your Ability Into Cash,” “The Power of Creative Selling,” and “How I Sell.”