| Topic : Changing perception of people towards insurance |
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Secure the future - Insurance |
The House of Motivation |
Life Insurance Corporation of India
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Activity:
Question posted: 05 29 2009 14:52:42 +0000,
8 answers, 312 views, last activity
07 06 2010 20:18:08 +0000
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As a Development Officer of LIC, have visited a good number of clients. I have also been instrumental in successfully closing many high end life insurance policies. Out of which there have been many policies (non-ULIP) with annual premium of Rs 3 lacs to Rs 9 lacs.
I love selling high premium policies.
But there is one client where I have not yet been successful. I would love to be successful here because if I happen to sell this policy, then perhaps I may create history, if not globally, in India at least.
I had approached this client some time back and presented him a with a life insurance plan of Rs 400 Crores annual premium. Some of my very close friends said it was a foolish idea. But I have not yet given up.
This client is a very big industrialist and he can surely buy this plan. He can buy this plan easily. He already has a lot of policies with him presently. But they are not sufficient.
When I made this presentation to him, he asked me a simple but complex question to which I could not give a proper answer.
The question was " Mr Kotian, do I really need this much life insurance ?" This question really bogged me down. This question has been asked by many of my previous clients to whom I had given a fitting reply. But here I find answering this question, like all my other clients, very difficult. Because I feel there has to be some other very befitting answer. My success here totally depends on a correct answer to this question.
Therefore, I request you all to help me create history. I will be forever indebted to you all throughout my life. Thanks.
I don't know how true it is. Anyways Sharath,
The simple point which is coming in my mind is: as an Big Industrialist he definitely wants to continue his legacy. Hit him on the ego part of his business welfare. Explain him that he will be able to provide his family / business with income. Thus, for the duration of future productivity, he has ensured family's / business financial welfare even at any uncertainty during that period. Your policy should also emphasize on the Survival Benefits......
I also agree with niranjan's argument.
fully agreed with Niranjan.... go ahead.
I thank you all for your valuable suggestions.
Dushyant, I will keep your suggestion in my mind.
I agree with niranjan, but beside hurting client ego you must check is he is sole propritor of his business, is this risk cover required by whom and who is going to cover from the risk which is covered over here. these simple data mining will help you to colse this big deal. By the way, i am ready to share this success if you allow me to join and klick this deal jointly :-))
totally agree with Niranjan's answer here, hurt his ego, and tell him the fame and recognition that he'll be gettin and uncertainty should also help out in this matter....
Dear Sharath,
As suggested by Niranjan you can hit on his ego part, as well as his pride part. His legacy part. He doesn't need an investment but the investment he is going to do is for his dominance in his field. So highlight only those points which touch his ego. The benefit should also be shown in the form of his pride and dominance in the market. He will get name and fame. All these point I think will answer his query.
Dear Sharath,
The question is very simple with lot of substance, if u see in India we say 18% only is insured, but on the contrary few people are over insured. The insurance need is always over over with the basic policy.
All the other policies are an investment option. In the current senario what can be done is u can persauade the client about the uncertaininty in this era, also what Mr. Nirangan said is true..
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Just keep on writing. Whether you like the the thumbs up or down is immaterial. What you write is most important. And thats what people read and like to read. We cant live without critics in this world. The world is full of them. |
I agree with you totally Sir. Our homework is extremely poor. |
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