278 Power phrases and action statements to increase your capacity to sell more insurance.

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1 278 Power phrases and action statements to increase your capacity to sell more insurance. The secrets of action statements and power phrases in selling insurance In the sales process of getting people to act to accept your advice in the offer of insurance, it is important to have power phrases, questions and action statements that jolt people out of their complacency and direct them to respond to make a decision quickly. Power Phrases and Action Statements can help shorten the decision making process because they can get people: To agree with you on an issue To acknowledge a situation To consider new evidence To confront reality To concentrate on the problem and appreciate your solution These special questions and phrases have very little to do with product. They are asking the potential client to put a strong emotional feel into the questioning process. They are up front, no frills and no nonsense. But then, so is the sale of risk. In the old days it was called smelling the roses and backing up the hearse. Nothing has changed! People still need a reality check! Power phrases and action statements provide that link to reality. Power questions and action statements put a note of emotionalism into the sales process to prove the premium isn t the problem; the premium solves the problem. The technique of having an array of these powerful motivating expressions allows the sales person to inject a note of reality and decisiveness into their presentation. So select your power questions and action statements to use now from one of the most comprehensive lists ever accumulated. Which of these power questions and actions statements in the following categories will you start to include in your talks, presentations, letters, newsletters and on your website? Life insurance Disability and trauma Income protection Business Family Questions every business owner should ask General terminologies 278 power phrases and action statements Page 1

2 Life Insurance 1. Someone always pays for life insurance, whether a man buys or not; the question is, who? The man or his family? 2. Life insurance is a shield to meet the blow that you can t see coming. 3. Have you ever met a widow who said that her husband had too much life insurance? 4. Life insurance is the only plan that will guarantee a known sum of money at an unknown time. 5. You haven t needed it (life insurance) yet? Do you carry a spare tyre in your car? Do you own an umbrella? Do you check for the parachute in the aeroplane? 6. If you wouldn t like to live the rest of your life on the face amount of your present life insurance, how do you expect your wife to? 7. You can put me off, but you can t put my competitors off death and disability. 8. Life insurance won t keep people from dying, but it will keep their plans from dying with them. 9. You finish the job if you live; we finish the job for you if you die, become disabled or long term sick. 10. If you buy insurance or not, in the end someone will pay for it. 11. Life insurance is time. The time you might not have. If you need time you need life insurance. 12. Life insurance? Anybody who doesn t believe in it ought to have the right to die without it at least once. 13. What formula did you use to arrive at the amount of life insurance you have at the moment? 14. What percentage of your income in a lump sum would you like to leave your wife and children? 15. If it were free, how much insurance would you like? 16. Do you know anyone who has died who had too much insurance? 17. Long term insurance is a good idea in retirement. Just because you retire doesn t mean you stop loving your family, does it? 18. Life insurance is like a parachute in an aeroplane. If you ever want it and have not got it, you will never need it again. 19. A life insurance person brings no financial problem to any prospect: they only bring the solutions. 20. What other assets apart from your life insurance are instantly created for your family and estate if you die? 21. If you knew you were going to die tomorrow, how much insurance would you demand of me? 22. (See me later) Before we plan on a later date, wouldn t it be advisable to at least see first if you can qualify? KnowledgeMaster Pty Ltd Page 2

3 23. The only person who takes a chance on insurance, is the one who does without it 24. Insurance is like a parachute. If you don t have it when you need it most. then it s too late. 25. All I have to sell is peace of mind. If this plan wouldn t make you happy when you are without it, then I wouldn t buy it either. 26. I trust you are working so that you can realise your future plans. Perhaps it s providing your children with the best education, paying off your mortgage or other loans or being able to provide a comfortable retirement for you and your wife. This plan for the future is flexible and guaranteed. Why not share your future responsibilities with me? 27. There is nothing more uncertain than the timing of a death. There is nothing more certain than life insurance 28. Mr. Jones, if you paid off your mortgage, would you cancel your fire insurance on your house? Then why do you want to cancel your life insurance? 29. Human capital value can be created while a person is alive. But who replaces that capital value with cold hard cash when someone passes away? 30. There is less risk in buying life insurance than there is in not buying 31. Tax, savings and superannuation laws come and go. The need for a properly balance life insurance program is always present 32. The premium isn t the problem; the premium solves the problem. 33. No one ever plans to fail, but many fail to plan. 34. You don t have to check the finance pages to find out the value of your life insurance 35. With life insurance, you don t leave your home to chance, you leave it to your family 36. Life insurance isn t an added obligation; it s the best means of meeting the obligations you already have 37. Life insurance is prepaid tomorrows Income Protection 1. If you re having a tough time getting by on your salary now, how well do you think your family will get by without it? 2. If you had a goose that laid golden eggs, would you insure the eggs or the goose that laid them? 3. If you can save as much money in the next five years as you have in the last five years, will you be satisfied? 4. Are you aware of your most valuable asset and do you know how much income it is capable of producing in your lifetime? 5. If income protection were free, how much would you want me to arrange for you? 6. Are you interested in a tax advantaged income protection plan? 7. If you don t protect your income, how will you be able to pay for or afford your other insurances? KnowledgeMaster Pty Ltd Page 3

4 8. If a couple become divorced or separated, the ex-partner may not see another maintenance payment should the income earner die. How will that affect your children? 9. How would your family be affected if you couldn t work for 2 years? 10. This plan will pay 75% of your salary when no one else will or want to 11. Your family s outcome relies on your income 12. Earned income is an extremely delicate and easily destructible asset subject to three hazards; death, early retirement and long-term disability. It can be compared with a 3-legged stool; if one leg gives way, the whole stool topples over. 13. Saving your life shouldn t mean losing your savings 14. Income protection benefits are Dollars of Dignity. That means no borrowing, begging, spouse working or asset and savings erosion for you. 15. Income Protection benefits are Dollars of Dignity. They mean not having to beg, not having to rely on charity, not having to borrow (if you still can), sending your spouse or partner out to work, asset sell off, capital erosion or life style down grading. 16. You are aware that the biggest gamble your partner and family can ever take is on you. Let s reduce the risk with an income protection plan. 17. What happens if your money machine breaks down? 18. People are money machines. They produce income called money. When the machine breaks down is destroyed or fails to operate the income stops. 19. This plan will pay you a salary when no one else will 20. If you can t afford to buy today, you certainly can t afford to be without this vital protection. If you can t afford to set aside $1.20 per day to protect that time of your working life in which you pay for everything, then what are you going to do if you have an accident or are sick and are laid up for weeks, months or maybe a year? 21. A person aged 35 earning $80,000 a year planning to retire at 65 has an investment in themselves of $2,400,000, before inflation or salary increases. It is vital you protect this earning power isn t it? 22. Life insurance provides capital if you die. But what happens to your earning power if you are seriously injured, and you don t die? 23. Super is a great thing. It is meant to provide you with an income when you retire. What happens if you are forced to retire early? 24. The biggest gamble your wife and family take is on YOU. 25. The bills won t stop coming if your income does 26. What do you consider to be your biggest asset? 27. Your income can die twice. Once when you are disabled, then when you physically die. 28. You haven t needed it yet. Do you carry a spare tire in the boot of your car? 29. If you had a machine that regularly and reliable turned out money, you d insure it wouldn t you? Well as far as your family is concerned you are that machine KnowledgeMaster Pty Ltd Page 4

5 Disability and Trauma 1. Should you become disabled, your wife should have something that will take care of her - not something that she will have to take care of, shouldn t she? 2. If your partner were permanently disabled or long term sick, how long would you be willing to do 100% of the work for 50% of the profits? 3. What type of lifestyle would you like when you retire? What type of life style will you have if you are forced to retire because of ill health? 4. What type of life style could you expect if you were forced to retire because of personal permanent disability? 5. What type of life style would your family be forced to endure if you had to retire prematurely because of your personal permanent disability? 6. If you suffered a traumatic illness or serious accident would you sooner lose your home or your mortgage? 7. If you were permanently disabled which assets could your partner sell for full value? 8. If you became long term sick or permanently disabled, which would you sooner lose, your house or your mortgage? 9. If you knew you were going to be permanently disabled tomorrow how much disability insurance would you demand of me? 10. Which is more important to your wife, the size of your loan while you are alive and well or getting rid of the loan if you are not here or are permanently disabled? 11. People need cash flow to pay the bills while they are healthy, But they need CASH when they are long term unhealthy, don t they? 12. If you were totally disabled yesterday how much would you need to clear your debt? 13. If you were totally disabled yesterday how much capital would you need to produce the income you have now? 14. Modern medicine is saving lives. It is converting death to long term disability. As important as you are, do you know anyone who will pay you a living for the rest of your life should you become disabled? 15. You do realize that life insurance can provide capital to earn income from after you have passed away. But what if you are seriously injured or become permanently disabled and don t die? 16. Would your bank manager pay off your mortgage if you had a heart attack or became permanently disabled? 17. Life insurance pays if you die. What happens if you re only 50% dead? 18. Did you know that insurance can now be paid on diagnosis of specific diseases and insurable conditions? KnowledgeMaster Pty Ltd Page 5

6 19. Do you want your family to have to sell their house if you became disabled or long term ill? 20. If upon suffering cancer you had a second chance to live, would you give it a go despite the costs? 21. It is probably the biggest cheque you would ever receive, without fear of tax or preservation rules. 22. Are you interested in tax free dollars should you become long term ill with a specific diagnosed condition? 23. Saving your life shouldn t mean losing your life savings. 24. Trauma cover creates options for your future by providing you with financial resources not previously available. 25. If I could show you a plan that paid on diagnosis of condition not death would you be interested? 26. Would your Bank Manager pay off your mortgage if you suffered a heart attack? 27. With 1 in 14 Australian women developing breast cancer, they now have the chance to be covered by an insurance policy, which guarantees money to live on in the future. 28. It is probably the biggest cheque my clients could ever receive, without fear of tax (personal use) or preservation rules 29. Trauma cover, incredible as it seems creates options for your future by providing you with financial resources not previously available. These options could be to get the best medical treatment available anywhere in the world, pay off your mortgage, take an extended and relaxing holiday overseas, or it could be your forced early retirement lump sum. 30. Life Insurance shouldn t be paid on diagnosis of death it should be paid on diagnosis of disease. Recovery Cash now lets this happen. Business 1. Any partnership that operates without a proper buy/sell agreement is living on borrowed time, isn t it? 2. Would you like to buy your parents interest in the company for cents in the dollar? 3. Partnerships are like a seesaw. One man gets off the other falls off. Is your business succession plan like that? 4. It's better to use insurance to protect the partnership because while you will pay $1,000,000 for your partners share you really pay very little for the $1,000,000, don t you? 5. Have you a plan to pay for capital gains tax or will you let the family sell assets to cover your oversight? 6. A professional loans their educated brain to create income for their family to live on. Unfortunately the brain is not a going concern. When it terminates so too does the income it generates. 7. What would happen to your estate if you had died last night? 8. Do you want your bank to have first call on your estate? KnowledgeMaster Pty Ltd Page 6

7 9. Do you have a business debt extinguishment fund? 10. Which is more important to your partners, the size of your loan while you are alive and well or getting rid of the loan if you are not here or are permanently disabled? 11. What is your gross business estate value? What is your net business estate value? 12. If a sole proprietor tells you his business will run itself while he is off, then ask him why he is not at the beach or on the golf course every day instead of enjoying himself at work! 13. If I could show you a disability plan which can pay out a large lump sum to buyout a partner s interest while they are living, but unable to contribute to the business, would you be interested? 14. You have an accountant and a solicitor, but do you have anyone whose responsibility it is to deliver money in the event of a death, disability or long-term injury or sickness to your business or its partners? 15. Tell me about your liquidity plan for your business if your investment plans don t work out. 16. Are the other partners willing to support the disabled partner through his illness? 17. How long do you think you can support a partner before they become a financial burden on the company? 18. How well can your business survive without one of the partners and the expertise they bring to the company? 19. Would you like to see how you can reposition your assets after you die? 20. Tell me when you are going to die and I will tell you what to buy 21. Death creates the need for instant corporate cash 22. Would you like to buy your partner s interest in the company for cents in the dollar? 23. Is your business will valid and current? 24. Have you chosen an executor you feel comfortable with? 25. Will there be sufficient assets to meet your estate planning objectives? 26. Do you want to ensure that family assets stay within the family company? 27. Do you want to ensure that family assets stay within the family farm? 28. Will ownership and/or control of your business go where you want it? 29. When should your children be entitled to their inheritance from your business/estate, before or after liquidation? 30. Will your surviving spouse or dependents have access to sufficient cash between death and estate distribution? 31. If you responsible for any of the following then they will need cash if you are not there, won t they? A severely disabled child? An elderly dependent parent, or other family member? KnowledgeMaster Pty Ltd Page 7

8 Young dependent children? A spendthrift/drug-dependent child? 32. How is your superannuation to be distributed if you die prematurely? 33. Have you considered an enduring power of attorney? 34. Is complexity likely to be a problem for the survivor(s) who will inherit from your estate? 35. Are there any capital gains tax issues with your estate that will need an injection of cash? Family 1. The only thing worse than a home without a mother is a mother without a home, isn t it? 2. You can say, I don t need it, but can you say, My family won t need it? 3. The most valuable asset that a father can leave his children is their mother s full time care, isn t it? 4. Wives may not believe in life insurance, but widows always do. 5. The worst time for a wife to become a breadwinner is when she first becomes a widow. 6. Income is provided for a widow or by her, isn t it? 7. Capital is either provided for a widow or by her isn t it? 8. Losing a father is bad enough, inheriting a part time mother makes it worse, doesn t it? 9. It isn t easy to be old or poor, but it s a great deal worse to be both. 10. Whatever reason you may have for not starting this plan now will only sound ridiculous to your widow. 11. Just because you stop working doesn t mean you stop loving your wife, children and grandchildren. That s why you have permanent life insurance isn t it? 12. A person needs credit to live, but their family needs cash when they die, don t they? 13. Tell me, how will you treat all your children equally in your will? 14. In the final analysis, all you can leave your wife with is, the dignity of choice isn t it? 15. If you were not here, could you pay for all of your children s higher education or just a percentage of it? 16. What assets would your executor have to sell up to allow your wife and children to keep living in their current lifestyle? 17. You and your wife together can handle debt, but can she handle debt by herself? 18. Would your executor be embarrassed by the lack of liquidity in your estate? 19. At no time in life is a wife less able to become a breadwinner than when she first becomes a widow. 20. One ordinary father can support four children, but it takes four extraordinary children to support one father 21. If every wife knew what every widow knows, every husband would be insured for more, wouldn t they? KnowledgeMaster Pty Ltd Page 8

9 22. Do you have a family debt extinguishment fund in place? 23. If your family were in a Financial Free Fall, wouldn t it be nice to know we could provide the parachute? 24. Tell me what you want to leave out of your debt reduction program. Is it the capital redemption or the promises to your children that their mother may not be able to keep? 25. Which is harder for a widow, being unprepared or being unfunded? 26. Do you see your family being disadvantaged by the unknown or being disadvantaged by being unfunded? 27. Are you leaving your family an asset or the asset and a liability? 28. Which is more important to your wife, the size of your overdraft while you are alive and well or getting rid of the overdraft when you are not here or are unwell? 29. What is your gross family estate value? What is your net family estate value? 30. Are you aware that your children stand to lose two parents if your partner is forced to go back to work after the death of a spouse? 31. You have an accountant and a solicitor, but do you have anyone whose responsibility it is to deliver money in the event of a death, disability or long-term injury or sickness to your family? 32. If you were not here what percentage of your children s higher education would you like them to have? 33. Who would you like to serve as guardian and trustee for your children if you and your spouse died? 34. If the entire family dies in a disaster, to whom do your want you estate to pass? 35. Tell me about your liquidity plan for your family if your investment plan doesn t work out 36. How much would your wife sue for if you were killed by the negligence of a large affluent organisation? If that s what you think you are worth, that s the amount of protection you should be carrying. 37. Does your insurance go directly to your family or does it have to go through the courts first? 38. You would give your life for your children; why not insure it for them? 39. I never meet a widow who said her that her husband had too much insurance 40. Your child may have a right to a good education, but it s going to take money to exercise that right, isn t it? 41 Proper protection for a family is a moral right. To provide it is a responsibility that goes with the privilege of having a family General 1. More good things are lost by indecision than by wrong decision, aren t they? 2. You say come back in September. But whom should I ask for if you re not here in September? KnowledgeMaster Pty Ltd Page 9

10 3. The difference between an old man and an elderly gentleman can be a decent income can t it? 4. You would certainly give your life for your children, so why not insure it for them? 5. It isn t easy to be old or poor, but it s a great deal worse to be both. 6. No person ever dies at the right time, do they? 7. You just may last longer than your money 8. A debt should last no longer than the person who created it, should it? 9. No has always been the first two letters of nothing. I have never liked what nothing implies. Would I be right in assuming that you do not like the meaning of no either? 10. Sometimes the biggest price in the world is doing nothing. A lot of people do nothing wrong, they just do nothing. That s what s wrong. 11. If you were to die because of someone else s negligence, how much would you want your family to sue for? Should they have any less if you die by other means? 12. Do you have trouble accumulating money and keeping it? 13. I can understand your hesitation to pay the $800 premium. You may feel that you are making a mistake. Would you rather make an $800 mistake or a $250,000 mistake? 14. Is your debt good debt or bad debt? 15. Your price is too high! Is that if you take the cover, or if you don t? 16. If you weren t here, who would you want to take care of your obligations? 17. Who do you want to inherit your debt? 18. If I could deliver you a guaranteed amount of money for a specified event at an unknown time in the future, would you be interested? 19. We don t have a choice about good luck or bad luck do we; it just happens! 20. Your insurance should compensate for an event, not encourage its occurrence 21. If life cover was FREE, how much would you want to take? 22. You don t buy insurance because someone may die; you buy it because families and people keep on living, don t you? 23. Doctor, have you ever heard of a physician being pensioned by his patients when he was laid up from accident or sickness? 24. (I can t afford it.) If your salary was cut $10 per week would you quit your job? 25. (See me later). Before we plan a later date Mr. Prospect, wouldn t it be eminently sensible to see if you qualify for the cover first? 26. Naturally your superannuation will provide you with an income when you retire. But what if you have to retire early? 27. Can you guarantee your immortality? KnowledgeMaster Pty Ltd Page 10

11 28. Comparing the number of doctors to the number of undertakers in the phone book, will give you an indication of the number of unwell people requiring attention compared to the lesser number of deaths requiring attention. 29. There are two ways to make money. People at work, and money at work. Money at work is a whole lot easier isn t it? 30. Could a father write a more sincere love letter to his family than an application for life insurance? 31. The difference between an old man and an elderly gentleman can be an income 32. The future will take care of you if you take care of the present 33. Are you going to keep working for money or is your money going to work for you? 34. You can t take it with you; it s already gone before you are 35. The living inherit YOUR debt, don t they? 36. Doctors examine you to see how well you are. We examine you to see how long you will live! Questions every business owners should ask 1. Do you have a business persons will? 2. Would you be able to work with your partner s spouse as your new business partner? 3. Would you like having your partner s spouse s lawyer going over the company books should something happen to you? 4. Have you explained exactly what happens in your business succession plan to your spouse? 5. Have you explained what happens to your children in your business succession plan? 6. Would your children like working for someone else? 7. Would you want your spouse be forced to sell your business share at low value just to gain liquidity? 8. Does your business will have a simultaneous death clause? 9. Does your business will protect your surviving family from your partner s mistakes or excesses? 10. Does your business will have the right trustee set up? 11. Will your spouse be forced into a bank sided loan set-up with your partner under your buy/sell agreement? 12. Will your company pay Capital Gains Tax under your current business will? 13. Is your insurance owned by the wrong business entity? 14. Could your partner s long-term disability cost you 50% of the profits for 100% of your effort? 15. Does your buy/sell agreement have provision for long-term disability, injury or specific cause conditions? KnowledgeMaster Pty Ltd Page 11

12 16. If you become long term-disabled which source of income have you provided for your family? From charity, relatives or friends, asset sell-off, forced liquidation or a guaranteed contingency fund? 17. Is your business built on debt while you develop it? 18. If you weren t there would your business still sell at full price? 19. Are you aware debt finance only turns into equity if you are successful? 20. Was your insurance cover arrived at by the amount of corporate debt you have, or by your family s needs or both? 21. Are you worried about how much the government may get from your company if you were not here? 22. Was your company built up by your ideas and your partner who financed the growth with money? 23. Is your business management plan still in the formative stage? 24. Is there a continual and constant demand on your time for particular resources and expertise? 25. How many hours have you spent in creating greater corporate wealth in the last 12 months? 26. How many hours have you spent in planning the protection of your corporate wealth in the last 12 months? 27. In the event of a business catastrophe who controls your affairs? 28. Who holds your personal guarantees for your business? 29. Who holds your corporate power of attorney? 30. Could your key people fund or find the funds for an MBO if you were killed or permanently disabled? 31. Does your corporate debt die with you? 32. If one of your partners died tomorrow, what would be your greatest concern? 33. Tell me about your guaranteed sick leave entitlements as a small-business person. 34. There is no cost for Key man insurance long term is there? Only a cost for not having it 35. Have you given personal guarantees for any loans or overdrafts either you or the business may have made? 36. Do you understand the ramifications of these, were you to die prematurely or become totally or partially disabled? 37. Do you have a cash redemption program which will adequately cover your business and any guarantor liabilities should you die? 38. In addition to the above does your protection program provide a sufficient lump sum, which if invested, will adequately cover your family s income needs if you were to die prematurely? KnowledgeMaster Pty Ltd Page 12

13 39. In the event of death, disablement or forced retirement of a shareholder/partner would there be sufficient funds available to meet all financial commitments so that the business would be able to continue? 40. If you have a buy and sell agreement have you also a plan to provide the cash required to implement it? 41. If your spouse were to die prematurely is there a cash injection plan in place to provide sufficient funds to adequately care for your dependants and allow you to continue your business interests? 42. If you were to suffer a major trauma or illness such as heart attack, stroke, cancer, major accident etc, do you have a lump sum in place equivalent to at least 12 months income and to cover you for excess medical, rehabilitation or business support costs? 43. Should the business lose a key employee, has any potential loss to cash flow or profits, been recognized and adequately allowed for? 44. Do you have an income protection plan supported by earnings proof to cover you if you were unable to work for a prolonged period? 45. Do you your fellow shareholders or directors have children who may come into the business? 46. Your income protection cover is only $ per month. If you were disabled for 3 months, to pay your ongoing expenses would you: - a) Use your personal income cover? b) Forego operating profits? c) Dip into reserves? d) Have to borrow? 47. Tell me all about the aspects of your formal business succession plan. 48. How much of your business is owned by the government? 49. Why are you running your business? To provide you with an income? Build it up for sale? Keep it for the family? As a source of cash for retirement? 50. Most businesses have one of two problems: either cash problems or tax problems. Which category does your business fall into? 51. Would you sell your business today at half its real value if you didn t have to? 52 Would you like to set an assumed price for your business today? If you could set your own price, do it now and we will guarantee to pay exactly what you want. 53. Who is the major person or persons on whom this firms success and profitability depends on? 54. If something happens to those people, would your firm have difficulty meeting its commitment for the loan or conditions of it? 55. If that happened, you wouldn t want your personal assets to remain encumbered or be sold, would you? KnowledgeMaster Pty Ltd Page 13

14 56. If there was a way to guarantee that funds would be available immediately on death to repay the loans and free the assets, you would want to know about it wouldn t you? 57. Is your business loan on call to your lenders? 58. Could your company repay that loan today? 59. Would your company face a liquidity problem if it had to repay the loan immediately? 60. If there was a way to guarantee the loan on the death of the holder, you would want to know about it wouldn t you? 61. Do you have a key person or persons on whom the bulk of the firm s success and profitability depends? 62. What would be the effect on your business if this key person died or became long term disabled? 63. What steps have you taken to protect your business if this happened? 64. If there was a way to provide you with a cash cushion to offset the loss of profits if this person died or became long term disabled, you would want to know about it wouldn t you? 65. If something happened to your partner, would you want to buy their share of the business? 66. If something happened to your partner, would you have to buy their share of the business? 67. If something happened to your partner, how would you buy their share of the business? 68. Do you have a Buy and Sell agreement that gives you the right to buy? (That is a Buy and Sell agreement that requires the survivor to purchase and the deceased estate to sell, at an agreed price.) 69. How important for you is it to you to be able buy that share and keep outsiders and undesirables out of your business? 70. If there was a way to you could ensure that you had the right to purchase at an agreed price an agreed amount of money, and that the money was available when you needed it with no repayment, would you want to know about it? KnowledgeMaster Pty Ltd Page 14