Needs Based Sales Presentation
LIBERTY NATIONAL LIFE
INSURANCE COMPANY
2013
LNL2422I2 0213
Needs Based Sales
Needs Based Sales
 The chief function of life insurance is
to pay for a person’s final expenses.
Some of the money paid to a
beneficiary normally is used to meet
current financial obligations created
by the insured’s death. The
remainder of the money may also be
used to meet future needs of the
insured’s beneficiary or beneficiaries.
 Totaling the amounts required to pay
for current and future expenses is
often referred to as the “total needs
approach” to determine how much
life insurance a person should carry.
Four Obligations at Death
1: Final Expenses
 Funerals cost money.
 So do doctors; the ambulance; and the hospital,
where a stay before death could cause a bill.
 Income taxes, estate and inheritance taxes, (because
they resulted from death) make up what could be
called “Death Taxes.”
Four Obligations at Death
When a breadwinner dies, dependent family members may still
have other financial needs for:
2: Income Replacement
 Replacing the breadwinner’s income
3: Mortgage Protection
 Taking care of the outstanding mortgage loan on the house (if
any)
4: College Education Protection
 Today, almost everyone recognizes the necessity of a good
college education for their kids, if they hope to attain success in
the business or professional world. Many conscientious parents
consider it their duty – an obligation – to establish a fund for
their children’s education.
Need for Life Insurance
 No matter how many of these obligations an individual
leaves behind, there’s only one thing that will satisfy
them…money!
 For this reason, a person who wants to relieve the family of
obligations when he or she dies will plan to leave them with
an estate – money – that is sufficient to cover all needs.
Needs Based Example
 Jim died. He was the breadwinner. The family suffers the
loss of his income plus the responsibility of these expenses:
Final Expenses
$30,000
Income replacement (5 yrs)
$175,000
Mortgage remaining
$155,000
College costs (2 children)
$200,000
TOTAL
$560,000
The Needs Approach
Obligations
Assets
Final Expenses:
$30,000
Whole Life:
$0.00
Income:
$175,000
Term & Work:
$200,000
Mortgage:
$155,000
Mortgage Ins:
$0.00
College:
$200,000
College Funds:
$0.00
Total:
$560,000
Total:
$200,000
Additional Total Need for Insurance:
$360,000
Need for Whole Life:
$30,000
Need for Term Life:
$330,000
The Sales Process
Three Components of Success
Rapport
Transitions
and Tie
Downs
Needs
Based
Closing
Rapport Building
FIRST COMPONENT OF SUCCESS
The Balance Between the Human Element
and Technology
 Clients buy products based on advertising messages, word of mouth,
reputation, etc.
 Clients buy LNL products because they like and trust the Agent. The
Laptop Sales Presentation is key to show professionalism and uncover
the client’s needs. But that’s only part of the sales process. The other
key is human interaction, which is represented in the rapport and close.
 When you break down the sales process, the amount of time spent on
each step is:

Rapport – 40%; Need – 30%; Presentation 20%; Close 10%
 Therefore, the balance between the technology and the human element
must be 50-50.
RAPPORT=40%
NEED=30%
PRESENTATION
LAPTOP
=20%
AGENT
CLOSE
=10%
Balance between
Human Element &
Technology is 50/50
The Art of Establishing Rapport
 Consumers today are more professional and better
educated because they are bombarded with sales pitches
over the radio and TV.
 A professional agent can break through all of this resistance
by playing up to each customer as if that person is the first
and the last client he/she will ever sell to. Make that
customer want to do business with you.
People buy from Agents they Trust
 Customers may feel threatened by an Agent coming into
their home. Therefore, everything an Agent will do or say in
the home will either produce tension or trust.
 Don’t start closing from the moment you walk in the home.
This will build walls and not trust.
 Go slow, create trust, and then move into your
presentation.
People buy from Agents they Respect
 Respect the customer’s time. Don’t spend more time than
you need to make a sale presentation.
 Respect the customer’s territory. You are a guest, so ask for
permission to move around the room or come closer to
show a brochure.
 Respect your customer’s intelligence by being up front.
Rapport Building: The Warm Up
 When you walk into a house, find a place where you can sit
comfortably and face the customers. Put your hands on the
table, relax, and establish rapport.
 People buy from you because they like you and they trust
you. They buy you first, then the Company, and the
products after. Find something in common with your
customers and go from there. Avoid politics and religion.
This should not last more than 15 minutes.
Balance Between Agent and the Laptop
Interaction
with videos
• Be excited to watch the videos like it’s your
first time every time!
• Client is half as excited as you are.
Be an
insurance
professional
• People buy from Agents they trust
• People buy from Agents they respect
Strong
warm- up
• Shows you are a professional
• Shows you care about them
• Use FOR (Family, Occupation, Recreation)
Transitions and Tie Downs
SECOND COMPONENT OF SUCCESS
Less is More
 Remember the Laptop demonstrates the need for the
product.
 Your job is to transition into those videos, re-emphasize, and
tie down the importance of the need and the product to the
client.
 To do this effectively, use the LNL Laptop
Presentation Script
Introductory Offers
Collect More
Referrals
Establish Cause
and Effect Sales
Cause and Effect
Sales
• Use the videos to
ask for referrals
• Use the script to
keep it simple
• More referrals
come from using
the Laptop in the
Introductory
Offers section
• Problem,
solution
• Problem: Every
4 minutes
someone dies
from an
accident*
• Solution: $3,000
Accidental Death
Plan
• Is used in sales
universally
• Happens up to 4
separate times in
the Introductory
Offers section
• Is the same
structure from
the Survey to
Close
*National Safety Council 2012
Asking for Referrals (Sponsors)
“We are trying to extend introductory offers to the
people in your circle of influence who you know can
use it.”
“Who would you like to sponsor FIRST?”
Get your first sponsorship and ask “Who would you
like to sponsor NEXT?”
Referral Collection Tips
 “Who’s first …” is much better than “Can you think of anyone …”
 Always ask “Who’s next?”

Even if they say they can’t think of anyone else, bring up another option, a
sibling, relative, neighbor, or coworker and they will think of another, then say,
“who’s next?”
 Be suggestive. “Most people just look through their phone to think of people.”
 Use competition, “Most people sponsor 10, but the most I’ve seen someone
sponsor is 27 if you want to try and set the record!”
 Overcome an objection, “Whenever the Company sends out a claim check, the
family receiving it never sends the check back, they always cash it. Who do you
want to help first?”
Needs Analysis
 The Needs Analysis has a three part process to follow
to ensure the strongest effect:
I–R–T
Intro
Recap
Tie Down
Elevate the Need
Higher the
Need
Less Objection
to Buying
Introduce and Play the Video
Recap the Benefit
Tie Down
“I’m sure you can see how important it
is to have this protection in place when
something happens, yes?”
Needs Based Closing
THIRD COMPONENT OF SUCCESS
Sell the Concept
Needs Based Closing
Do: Sell the Concept
• Final Expenses
covered
• Income protected
• Mortgage
completely
protected
• Kid’s college
expense protected
• Your needs are
protected so you
don’t have to
worry about this
again.
Don’t: Sell Dollar
Amounts
• Don’t sell face
amounts
• Don’t say the
premiums
• Buying based on
premium or face
amount is short
lived
People Keep
What They
Know They
Need
Downclosing Procedures
Downclosing Basics
 First, understand the objection isn’t always related to the price.
 Before downclosing:
 Listen to what the client is telling you.
 Identify what the actual objection is.
 Overcome the objection, and re-ask the closing question
 Option 1 vs. Option 2
 $15,000 WL to $10,000 WL
 $10,000 WL to $7,500 WL
 Income replacement reduced 1 level
 Ex 2 years to 1 year