"Don't sell life insurance. Sell what life insurance can
do."
Ben Feldman was considered the greatest life insurance salesperson.
Even Guinness Book of Records acknowledged it.
It's not really a secret, but for a long time many, myself included,
missed one of the keys to his success. I listened to the CD of an afternoon with
Ben Feldman at 1981 MDRT probably 15 times before it hit me. It took a lot of
repetition for me to catch on. ☺
Feldman said he was a package salesman. He sold packages. His
packages were bundles of
whole life designed to solve a specific problem.
His retirement package provided an income you can't outlive. It was a
whole life plan that was annuitized at retirement.
There was a college package. Do you want your son or daughter to go
to college? Would you rather pay for college in 4 years or 14 years? The cash
value of the whole life plan provided the money to pay for college when the
child was ready.
My favorite was a see saw package for partners. A partnership is like
two people on a see saw. If one falls off the other crashes to the ground. The
solution, whole life insurance on each partner to fund buy sell agreement. When
a partner dies, the surviving partner has money to buy dead partner's
share.
He would test the package on his wife, sons and office staff. Then he
would make a list of prospects and start calling.
Feldman believed selling life insurance is not about the product,
it's about what the product does. Feldman didn't sell life insurance, he solved
problems.
Do you sell product or do you solve problems?
We want to thank Ken Smith for writing this article and allowing us to use
it. Ben Feldman was kind enough to write the foreword to our book, Secrets of
Successful Insurance Sales. We were always close to him and Ken Smith did a
great job of putting this information out on Ben's career. Copyright © 2017 Ken Smith Sales Training and
Consulting, All rights reserved.
