Is this Normal?

[diesel14]

I have had 2 clients in the past week call and tell me they can't afford the polices we applied for and that they want to withdraw them
and that they can't afford to even reduce it to a lower amount. I'm going into these meetings and asking them how much benefit they are looking for and I give them that price plus a few other options and I leave it up to them to choose what they're comfortable with and then I still get calls with people suddenly telling me they can't afford that. Is there a better way to make this business stick or nail them down on a realistic budget?

 

[HoosierLife]

I have had 2 clients in the past week call and tell me they can't afford the polices we applied for and that they want to withdraw them and that they can't afford to even reduce it to a lower amount. I'm going into these meetings and asking them how much benefit they are looking for and I give them that price plus a few other options and I leave it up to them to choose what they're comfortable with and then I still get calls with people suddenly telling me they can't afford that. Is there a better way to make this business stick or nail them down on a realistic budget?

Yes. Don't find out how much they want. Find out how much they can afford.

Make them give you a number they are comfortable with. Once you have that number they're closed anyway.

 

[indiana260]

Another possibility is they are sending in several cards and your getting replaced.

Either way, this does happen from time to time. Kinda suspicious getting two in a week. I would try to figure out if your getting replaced and if not chalk it up.

 

[rousemark]

I have had 2 clients in the past week call and tell me they can't afford the polices we applied for and that they want to withdraw them
and that they can't afford to even reduce it to a lower amount. I'm going into these meetings and asking them how much benefit they are looking for and I give them that price plus a few other options and I leave it up to them to choose what they're comfortable with and then I still get calls with people suddenly telling me they can't afford that. Is there a better way to make this business stick or nail them down on a realistic budget?

Just curious..... is there any connection at all between these clients? This raises an old agent's antennae that another agent may have gotten in behind you. .

 

[diesel14]

Another possibility is they are sending in several cards and your getting replaced.

Either way, this does happen from time to time. Kinda suspicious getting two in a week. I would try to figure out if your getting replaced and if not chalk it up.

How would I find out? I doubt a client will be truthful and tell me.

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Just curious..... is there any connection at all between these clients? This raises an old agent's antennae that another agent may have gotten in behind you. .

They're not connected, it was 2 seperate direct mail campaigns I had going in 2 different zips.

 

[indiana260]

How would I find out? I doubt a client will be truthful and tell me. ---------- They're not connected, it was 2 seperate direct mail campaigns I had going in 2 different zips.

Ihad two policies that were over a year old cancel in the same week. The policy holders live about three hours apart. I called them both and just said"hey I got a notice that said you wanted to cancel your policy. I just wanted to give you a call to make sure everything was alright and see if I could be any help"

If they have taken out a new policy they likely going to ask which guy are you. If they have not they ate going to give you a reason. Either way i go back to the highlights of presentation i remind them why they took it out and that i gave them the best deal available. I also tell them it is easier to come up with 5k than 10k so if they are concerned with the money we can drop some of the coverage

 

[rousemark]

How would I find out? I doubt a client will be truthful and tell me.

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They're not connected, it was 2 seperate direct mail campaigns I had going in 2 different zips.

Probably just a coincidence the but still possible since some folks tend to be serial DM repliers.

 

[briko3]

How would I find out? I doubt a client will be truthful and tell me.

You gotta ask to get. Just be honest. Tell them in your business that you like to provide the best service to your clients and although you're sad to see them go, see if they'll be honest with you to help you provide better service to your future clients.

"Was it the price?"

"I'm not going to talk you out of what you're doing, but I was wondering if you could help me to be better in the future by telling me what changed your mind....you can be completely honest, you won't hurt my feelings."

In my experience, people like to help, it just takes balls to ask. If they say F-off, what have you lost?