Overcoming Objections

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My life insurance agent is a friend of mine/ family member.

So you’re pretty tight with your old agent? What’s more important, (NAME), your family’s future financial situation or your relationship with your previous agent? Let me ask you a couple more questions. Did he offer you a solution to be completely debt free? Did he give you a comprehensive financial plan that will help you reduce your insurance costs and maximize your investment needs? Would you have any challenges putting your family first and going ahead with our program? Great, I know you’ll enjoy the benefits our plan has for your family.

I just want to invest my money instead of paying for life insurance.

So, what your telling me is that you don’t feel life insurance is a necessity? (NAME) do you know when you’re going to die? If your income was to go by the wayside, would you rather your family have the same standard of living, better, or worse? WFA. Great, so obviously it makes a lot of sense to go ahead and protect your income. By the way, (NAME), when I help you become completely debt free and financially independent and you have no need for income protection any longer, how will you spend your time?

I don’t think that I am going to die.

Is it that you don’t think you’re going to die or you don’t see the value in protecting your income? WFA. In other words (NAME) do you feel it costs too much? WFA. Well, (NAME) about how much, too much, do you feel it is? (Break it down to a daily amount, reduction to the ridiculous.) Now (NAME) what’s more important, that soda, or securing your family’s future? WFA. Great, do you have a middle initial?

I have my coverage with my work.

You feel like you have adequate coverage with your work? Can I ask you a couple quick questions, have you ever read through your policy? WFA. If you don’t have a policy, then who has control of that insurance? Do you plan on staying at your current job forever? WFA. Doesn’t it make sense to own something that you control, that no matter what job you’re working, that no matter what happens, your family’s future is secure? Great, (NAME) how tall are you?

I have life insurance and savings together and I don’t want to just throw my money into premiums.

Great do you know what kind of policy it is that you own? That’s awesome that you’re protecting your family while still trying to get ahead financially. (NAME), at age 65, what would you rather have, insurance or money? WFA. If I could show you how to have more money at age 65 and more coverage now, with the same dollar amount, would you be willing to explore that option? Great, do you have your policy handy.

Is this a pyramid?

What’s a pyramid? WFA. (Someone on top makes all the money). Can I ask you question, where do you work now? WFA. In the company you work for now, do you have a manager? Does he have someone above him? Who makes more, you, or the guy at the top? What is your opportunity to have his position? What does that look like to you (NAME)? Doesn’t it make sense to work for a company that doesn’t put any restrictions on your income potential?

I’m not a salesperson.

What is it about sales that you don’t like? WFA. Have you ever had an experience where you bought something and really enjoyed the transaction? Was that person pushy? If I could show you how to be successful educating families so they would feel good about you, can you think of any reason you wouldn’t go ahead with that? Great, let’s get started.

I just don’t have the $199.

(NAME) is it that you don’t have the $199 or is it that you don’t see the value of what you’d be doing for families? WFA. Let me ask you a question, if I told you that outside, I have a brand new BMW M5 and I would sell it to you for exactly $199, but you had to have the money today, would you be able to come up with it? WFA. So what you’re really telling me is that you don’t see yourself being successful helping families? Who could we go see right now so I can turn this into reality, instead of theory?

I don’t have the time.

What are your time commitments right now? WFA. (I work). How many hours a day do you work? WFA. Great, that means, you really have 6 to 9 Monday through Friday free. (Softball, church stuff, family). So out of the things you just mentioned, which is more important than you reaching your goals and dreams? With your credibility and my know-how, it will be impossible to fail.

I don’t think I can do it.

What do you do now (NAME)? That’s great, when you started doing that, did you just know how to do it or were you trained? WFA. Would you say you’re better now or when you first started? WFA. How long did it take for you to learn the ropes? If I spent time teaching and educating you on exactly what it is we do, can you think of any reason you wouldn’t want to get started? With your credibility and my experience, your going to be nothing but successful.

What is your interest rate?

What is it that you’re looking for in a interest rate? (Less time, less money). If I could show you how to spend less total dollars and get out of debt sooner, would it really matter to you what my interest rate is? Great, the only way I would allow you to go ahead to go ahead with our program is if it saved you thousands of interest dollars and years. Is that fair enough?

I don’t want to wrap my car into my mortgage.

You don’t want to wrap your car into your mortgage loan? (NO). Would you be open if I could show you a way to pay your car off quicker inside my loan than outside the loan, turning a depreciating asset into a additional tax saving benefit, would you want to take a look at that? Great, I just need you to okay a few spots for me here.

I don’t want to pay more closing costs?

Obviously the amount of money you spend on a loan is important to you (NAME). Would you agree, that interest paid on a loan is like a fee or a cost? So if I could show you how to spend less in total fees and interest cost, that would be important to you, wouldn’t it? Great, I just need you to authorize Citi to put together the best possible solution for your family.

I want to think about it.

Obviously, you wouldn’t want to think about it unless you were seriously considering going ahead. (NAME) just to clarify my thinking, what is it that you want to think about… Is it the “75,000” dollars in interest that I am going to be saving you?… Or could it possibly be that I am getting you debt free “10” years sooner than your current program?… You seem like a bottom line type of person (NAME), lets just weigh the facts and then make a decision.

My bank can do bi-weekly also.

That’s great that your interested in getting out of debt sooner. Did your bank give you an amortization schedule with your current loan? I have never found a lending institution other than Citicorp that does a true bi-weekly. Let me show you our points of difference. Show example. Doesn’t it make sense, (NAME), to pay more on principle and become debt free sooner?

I already have a financial plan.

That’s fantastic (NAME)! So many of our families don’t currently understand the importance of planning their financial future. Can I ask you a couple of questions about your plan? Does your current plan give you a date that you will become completely debt free? Does it show you your financial independence number? Are they helping you save for your kids education? (NAME) since our plan is free and often times enhances any current program wouldn’t sense to take advantage of any additional benefit our plan might have for you? Great I have time Monday or Wednesday, which is better?

I’m not interested in even looking at it.

What is it that you’re not interested in? WFA. So your debt free already? (NO). Are you saving all the money you would like to be saving? Are you reaching all of your financial goals and dreams? We really need to get together.

I heard you can get a no load mutual fund. Why should I pay if I can get one of those?

Have you ever heard of getting something for nothing? It doesn’t exist, does it? What’s more important to you, the rate of return on your money or the cost? If the return outweighs the cost, then can you see any reason why you wouldn’t want to go ahead with that?

Is 12% garanteed?

(NAME) did you know that mutual funds have averaged 12.97% over the last 30 years? We have had some good and bad times in the last 30 years, haven’t we? And through all that, the market still averaged 12%. Now, the past doesn’t guarantee the future, but it’s really the only thing we have to go off of. If you continue to save as much the next 5 years as you have in the past 5 years, what does your financial future look like? Great, let me show you the opportunities of investing in the global economy.

I want to shop around.

That’s fine (NAME) in this next week, why don’t you put together your very best plan in writing and I’ll put together mine, and then we can get back together and compare and go ahead with whichever plan makes the biggest positive impact, agreed?

Bonus Question Who will benefit most? Someone who has people going to Vegas with them or someone who doesn’t?

Who has the most people going on the bus to Vegas?