Understanding Different Types of Insurance Prospects!

As an insurance agent, you will learn that you cannot afford to waste time. As a result, qualifying an insurance prospect over the phone is a must. By asking certain questions of a potential prospect, you can decide immediately if it is worth your time to schedule an appointment with this individual.

Types of Insurance Prospects That You Will Encounter!

In my experience, there are main three types of insurance prospects: information gatherers, serious shoppers, and wanderers. The information gatherer is an insurance prospect that does not buy from an insurance agent. Instead, the information gatherer calls five or six insurance agents in the area to discuss insurance products. As an insurance agent, you must recognize an insurance gatherer. If not, you might lose 30 minutes of your day conversing with an insurance gatherer. Most insurance gatherers want you to solve several problems for them. For example, an insurance gatherer said to me, “My daughter needs some life insurance; she is twenty-five years old and single; do you think whole life insurance or term life insurance is better for her.” Usually, an insurance gatherer has no desire to schedule an appointment with you. However, you should try three times to schedule an appointment. If the insurance gatherer refuses to schedule an appointment, then you should tell him or her that you need to prepare for your next appointment.

Serious shoppers are the best insurance prospects, if they are medically eligible. Quite often, serious shoppers already have directions to your office before you schedule an appointment with them. In addition, serious shoppers will generally express an urgent need to buy insurance, today. Some serious shoppers may ask to stop by your office today to fill out an insurance application. Maybe, the serious shopper is interested in life insurance because he or she buried a relative within the last month. Regardless, you need to find time in your schedule for serious shoppers, preferable today. Otherwise, serious shoppers will purchase insurance from another insurance agent.

“Wandering” insurance prospects can be difficult to understand. In most cases, these individuals understand they have a need for insurance, but they remain reluctant to do anything. But unlike insurance prospects who procrastinate, “wanderers” really want to buy insurance. However, these “wandering” insurance prospects need an agent to guide them. As an insurance agent, if you are patient with these insurance prospects, you will likely make the sale.

Analysis

Keep your ears open for the three types of insurance prospects mentioned in this article. Stay away from insurance gatherers who desire only to receive free insurance advice from insurance agents. But, do schedule appointments with serious shoppers and wandering insurance prospects, for they usually are good insurance prospects!