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Self - Belief Believe in yourself. Your faith can remove any obstacle which crosses your path. Do not sell yourself short.Keep telling yourself that you are the best. Act as if you are the best till belief becomes actual fact. Your absolute belief in yourself will take you to the very top. Mix around with top performers till you become like one. Stay away from gossip mongers and laggards.

Imagine Suppose you have an appointment with a  prospect. And this is your second meeting with him. Enact the objections  and answers in your mind. Imagine yourself handling the objections effortlessly. Imagine yourself closing the sale. Imagine the premium amount. Imagine getting the cheque. And then just go and do it.

Ten golden quotes from "Ziglar on selling" "The best paying hard work in the world is selling and the poorest-paying easy work in the world is selling". "Being ethical is not only the right way to live; it is also the most practical way to live. True selling professionals don't talk about ethics, they live ethically". "The primary reason people will choose not to buy from you is lack of trust". "Prospecting is the most important key to sales success". "Learn as much as possible about your prospect. The more you know about your prospect the more respectfully you will be treated by the prospect". "If you transfer the feeling that you want to make the sale for the prospect's benefit, your chances for success are dramatically increased". "To be the winner, you want to be, you must plan to win; prepare to win, and expect to win". "We never lead with product; we lead with need". "You can ha...

Generating business through educational workshops Suppose you are into selling of health insurance products. One sure way of converting prospects into customers is a well organized workshop. Organize a workshop on health insurance. Make it generic. You should not pitch your products. Invite prospects to the workshop. Make the prospect feel special. Inform the prospect that only a select group has been invited. In the workshop, all nuances of health insurance should be discussed: Why should everyone have a health policy? How is health insurance different from life insurance? You can quote statistics which prove how families have been impoverished owing to lack of health insurance? Talk about the benefits. Explain clearly exclusions, conditions, waiting periods, pre existing disease, specified diseases, and other policy clauses. Quality of training should be top notch. Prospects should leave with a feeling that the time spent was well worth it. Take feedback and don't forget to give ...

Arup faced a major problem. He just could not sell insurance. Nobody seemed to want to buy from him. He wanted to quit. The daily humiliation was taking its toll. He worried incessantly about his future. And then Arup met Mr. Sales. Now Mr. Sales was a superstar exceeding all sales targets in the company where Arup worked. He had developed a large network of agents and direct clients. A humble person, he was admired by everyone in the company. "Help me", implored Arup. "I am in distress. I am on the verge of losing my job. What will happen to my old parents? How will I take care of them"? Mr. Sales smiled kindly. He remembered his own past when he struggled to make his first sale. Then he spoke," So you want to sell. For that you need to trust yourself completely. Do not harbour any negative thought. Cast away feelings of hopelessness. Study your products thoroughly. Practice your sales pitch before the mirror till it becomes a habit. Repeat till it becomes eff...

Energy Management  Everybody talks about time management. Let us focus on energy management . Concentrate your energies on: cold calling and prospecting following earlier leads asking references from existing clients meeting at least 8-10 new prospects everyday organizing camps, seminars and talks learning about insurance industry learning about products of other insurers mastering your own products preparing sales pitches  practicing objection handling learning skills from super performing seniors Avoid the following : Gossiping Wasting time, going out for a smoke every half hour spending inordinate time on your meals checking your whatsapp status every five minutes cursing the industry and your job talking negative stuff with others worrying about getting kicked out of your job

Keep on going   Product training is necessary. Sales training is absolutely imperative. But what about implementation? So we learn a few tricks and then forget about them within  a few days. A real waste of time and money. You were taught that you must make at least fifty calls per day. After a few futile attempts, you give up after a few days. You get to hear stuff like -- "It's all useless you know" "No own wants to buy insurance" "You know I called up that person and he actually abused me" "No one is picking up my phone" " Other insurers are offering better incentives, how can I get agents" "I just can't do this" Sounds familiar, right? It happens to everybody. It is just a phase. A part of the learning process. Never get discouraged. Always remember you are doing the prospect a favour by asking him/her to buy insurance. Which other service will provide cover of lakhs for a few thousands? So do not waste your time....

Why origin of a disease is important when a claim is made?   Dispute between                     Bheem A Sankaran vs. Star Health Award/Complaint no              IO/HYD/A/HI/0163/2019-20 Amount of claim                     22000 Relief Sought                           22000 Decision in favour of              Insurer Date of Award/Order             11/02/2020 Location                     ...

Prospecting Chet Holmes, in his seminal book, "The Ultimate Sales Machine", has written that all salesmen should invest at least 2.5 hours per day on prospecting. New salesmen should spend a minimum of 4 hours per day on looking for new customers. Most salesmen give up when a prospect says no. But in reality most sales happen on the 4th or 5th call. So never give up. Keep perfecting your sales pitch. Keep repeating it till it becomes flawless. And permanent.

Inspiring quotes Roy Bartell Most people think "Selling" is the the same as "Talking". But the most effective Salespeople know that listening is the most important part of your job. Zig Ziglar Every sale has five basic obstacles: No need, No money, No Hurry, No desire, No Trust. William Clement Stone Sales are contingent upon the attitude of the salesman. Not the attitude of the prospect. Carolyn Shamis A mediocre salesman tells, a good salesman explains, a superior salesman demonstrates. Great salesmen inspire buyers to see benefits on their own. Sam Walton There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else. Og Mandino Obstacles are necessary for success because in selling, s in all careers of importance,, victory comes only after many struggles and countless defeats. John Ilhan This may seem simple, but you need to give customers what they want, not what you think t...

 Be The Best Maintain a positive attitude at all times. Enjoy the process of selling. Refine the process. Course correct if need be. Amplify your strengths. As Albert E.N.Gray said " Success is always delivered by the minority. It 's achieved by those who form the habit of doing those things, the mediocre either cannot or will not do". They are bound to be some disappointments. The cardinal rule in Sales ( or Life itself) is not to take anything personally. Just move on. To the next prospect.

 Conducting yourself The better you speak, the better will be your sales. It is not about English. Whether it is Hindi or Marathi, or any other language, speak it well, without any slangs. Keep yourself fit and look your best. File your daily sales reports religiously; never consider it a useless chore. Maintain full integrity. It is better to lose a sale than indulge in dishonest conduct. Trust yourself. Trust the process. Keep at it. Become a master at selling.

 Goal setting If you want to be a leader you have to walk the extra mile. Write your sales goals on an index card and look at it frequently. Remember, " If its to be, its up to me". It is up to you to try for that extra sale; it is up to you to deliver outstanding service to your customers; and it is up to you to make that extra effort to be well informed. Maintain a planner and keep a daily record of your activities. In particular, note the time wasted on frivolous activities. If you want to be the best, you got to be different. Right?

 Closing the sale Anticipate questions and handle objections effortlessly. If the prospect says that he does not have money, tell him how premiums are rising. And that as his age increases, premium outflow will become higher. Convince him that payment of premium requires only a few thousands, but in the unfortunate event of an illness or death, losses could be in millions. Be very attentive and look for sales indicators - (the prospect inquiring whether Aadhar card will suffice or Voter's ID is  also needed for KYC). Show empathy and genuine concern. We are dealing with humans where often feelings, and not reason, are uppermost.

 Needs Analysis Understand the requirements of the prospect. If you are recruiting an agent, try and understand his fears. A person may want to become an agent but may worry about his social standing. When you are selling to a  customer, remember, he may be stressed about whether he is buying the right product at the right price. Try and study the background of the person you are approaching. Ask questions about family members requiring cover; try and understand the premium paying capacity of the prospect; suggest a suitable product. What does the prospect require? A benefit policy or an indemnity policy? Or both? Should you suggest add on riders? Think from the prospect's point of view.

 Achieving Targets Say you have a target of achieving Rs. 5 lakhs premium in a quarter and recruit 25 agents in the same period. How would you day that? Your obvious targets would be LIC agents, Mutual Fund agents, Home loan agents, Share brokers and Sub brokers, Chartered Accountants etc. What about teachers, retired or working? They would certainly exercise some influence on the parents of their students. And what about retired or serving bank staff members? Can they become your agents or may be or provide leads? Can you approach retired army officials? Ask then for business or leads. Maybe convince them to become an agent. How about organizing small gatherings at smaller towns or villages? many small shopkeepers may wish to augment their incomes. Write mailers. Talk to friends and acquaintances. Make cold calls. Ask old policyholders or agents for leads. Speak about insurance and your products at any gathering if given any opportunity.  Never hesitate to approach a rich/sup...

  Ways to beat the competition Know more about the industry and the products than anyone else Be informed of the benefits you are offering But be very aware of the benefits you are not offering For example, Optima Restore has the best Restore Benefit in the market and no room capping. However, it does not cover Ayush or Maternity. What if the prospect insists on Ayush benefit? Are you ready with another plan? You might argue that Optima's restore benefit covers all illnesses unlike Max Bupa or that the latter only provides Single Private AC room whereas there is no room limit in Optima Restore. Or may be the prospect is considering New India Mediclaim policy. You may contend that PPN network typically results in lower payouts for policyholders. The point is, you will win if you understand the market. And that requires inquisitiveness and study of the market everyday to keep yourself updated. Attend all training programmes religiously. In Insurance the moment of truth is supposed...

 How to build your network? Organize talks/seminars at Lions, Rotary and other clubs. Be actively involved in social functions/gatherings Work for your local community actively Tie up with schools and colleges to increase awareness of insurance. Volunteer at your local Puja or other religious functions. Organize fire safety, medical camps etc. Develop contacts with Army Officers'. Doctors' and other Associations Use social media to generate awareness about insurance and your products Be in regular touch with CAs, Financial Advisors etc.

 Self  Discipline Time is of the essence. You cannot afford to waste time. Plan your year, month, week and day. Start the day early, work harder and smarter than anyone else. Above all, understand the process of a sale Prospecting, generating leads, getting appointments, and closing sales are an ongoing and constant process.

 Mental Attitude Selling insurance is a service to humanity. If you serve with great commitment, the results will surprise you. When the customer buys, he does you a favour. But when you sell insurance, you are bestowing a  greater favour.

  Knowledge based selling We rely on persuasion skills to convince a prospect. What if we were so well informed that prospects approach us for sound advice. The prospect knows that you an authority on the subject. And that he can trust you. The prospect knows that you would recommend a solution which would be beneficial for him/her. Rather than relying on hard core sales techniques, it might be wiser to study your subject thoroughly. For instance, consider health insurance. The health policy has many clauses, conditions, limits, sub limits, exclusions and restrictions. Quite difficult for a layman to understand all this stuff. Increase your sales by becoming an expert in your domain. Peruse through the policy wordings of policies issued by other insurers. Makes notes. Compare. Think. Why is Max Bupa Money Saver charging a low premium despite providing a large cover? How is the recharge/restore  benefit different in various health policies? In life insurance, compare the featur...

  Has the Insurer denied your claim? Or made a partial payment? There could be many reasons for full or part rejection of your health insurance claim. Some of these are listed below: Pre existing disease Existing disease may not be covered for 3 to 4 years Reasonable & Customary Clause Expenses on treatment during hospitalization should be comparable to similar hospitals in that area Hospitalization for evaluation If you have no illness but just get admitted for examination, your claim is likely to be denied Permanent Exclusions Some illnesses like heart disease, diabetes etc. may not be covered permanently, Also illnesses resulting from use of alcohol or drugs are not covered Specified diseases A list of slow growing illnesses like Cataract may not be covered for up to 2 years Initial 30 days No cover for any illness except accident Hospital norms The hospital should meet IRDAI norms OPD treatmen t most policies do not cover routine consultations with doctors etc. Insured not ...

  Proportionate Deduction: A decision in favour of the Insured Dispute between               Haresh Shah v/s Reliance General Award/Complaint no       IO/BNG/A/HI/0255/2019-20 Cause of dispute               Short Settlement (proportionate deductions) Amount of claim               158161 Relief sought                     64043 Decision in favour of        Insured Date of Award/Order         7/2/20 Location                              Bangalore                ...

  Care Advantage Coverage Inpatient treatment up to sum insured Day care treatment up to sum insured Pre & post hospitalization expenses for 30 & 60 days respectively Advance Technology Methods Uterine Artery Embolization and HIFU Balloon Sinuplasty Deep brain simulation Oral chemotherapy Immunotherapy Intra vitreal injections Robotic surgeries Stereotactic radio surgeries Bronchial Thermoplasty Vaporisation of the prosrate IONM-(Intra Operative Neuro Monitoring) Stem cell therapy  No Coverage Ayush Domiciliary Maternity Special Features No room rent capping No claim bonus @ 10%; maximum 50%(bonus reduces at 10% in case of a claim) Automatic recharge up to sum insured No maximum age of entry Copay of 20% if age of entry is 61 years or above (but it can be waived off by payment of additional amount of premium) Some Optional covers No Claim Bonus Super Bonus increases @ 50%; maximum 100%; reduces @ 50% in case of a claim Extra premium has to be paid Smart Select Discount...