When your client wants higher yield with safety, how can you get the business done and on your books?
Especially in the world of Google, where your client is a few clicks away from “best fixed annuity rates” and the mutually assured deal destruction that always comes when clients wander off in the Internet and get nuked with TOO MUCH INFORMATION.
The most important thing: Know your competition.
Frankly, the #1 objection most people have to annuities overall is complexity. Complexity and information overload is your competition.
Right before I wrote this, I did a Google search – just like your prospect or client will – and of course there were lots of insane rates right at the top of page 1.
These are the rates your prospect or client will see when THEY use Google. (When they use Google… not If … They WILL use it, so be ready for it!)
Your job is to take the time to dig a little deeper and show them how all the highest rates they might see from their Google search are either from LOWER-RATED companies, or the contracts have some sort of “gotcha” that may not work for them so well- or may not even be available in their state.
This hidden complexity is the current state of the marketplace….
But like a martial arts master, your job is to absorb this frontal assault of complexity and turn this objection around into new business using the power of super-simple DCF Income Payments.
How To Beat Complexity With Higher (and Safer) Yield
When your client needs a safe, secure place to put some of their money, there’s a much better choice than the Google Search winners with all their complexity and uncertainty.
Once you show them how the lower-rated, over complicated companies from their Google search don’t meet the “safety” criteria, and you show them all the complexity “gotcha’s” in the contracts (like automatic renewals, 5-year rate guarantee with 10-year surrender charges, rate guarantee is only on the “income” account, that sort of thing) ask them this:
“What if we could use a top-rated company, and we could still get a great rate, but we could get it done with a 1 page reservation form and be closed in 24 hours? Would that be OK?”
After they give you a skeptical “Seriously?” you keep talking…
“Using fixed income payments from already issued annuities that people have sold, we can get 5% or even 6% yield. And from GREAT companies like New York Life, MassMutual, Prudential… All extremely safe companies.”
“Is there any reason you can think of that we SHOULDN’T take the higher yield from one of these Top-Rated Companies? I can’t think of any reason… can you?”
The obvious answer to this question is “No” – which in this situation means “YES – Let’s take the higher rate and the lower complexity!”
That’s a “Google Crusher” for you! And that’s when you stop talking, and take the purchase order..
(Keep an eye out for my upcoming posts where I’ll show you the HUGE leverage you can get for your clients when you lock-in longer term rates)
In the meantime, let me ask YOU a question:
Is there any reason you can think of that you shouldn’t get your client a better and safer rate, overcome their complexity objection, and earn some money for yourself?
I can’t think of any reason, can you?
Find a deal you like for your prospect or client, and let’s Keep It Simple together!