ACCESS Newswire
18 Sep 2019, 21:19 GMT+10
HOUSTON, TX / ACCESSWIRE / September 18, 2019 / Edward Karram is a highly accomplished life insurance agent who has devoted his time to mastering the art of the business and now earns a seven-figure income. Eager to share the wealth, he founded SELL-U; a training program, quite unlike any other in the country, aimed at walking registered agents through insurance fundamentals, marketing, branding, and social media.
To date, Karram has trained over 1,000 agents to access quality leads and 10x their book of business.
For the businessman, completing a life insurance sale is more than just sounding off from a script. It requires nuance and a deeper understanding of the individual's journey from prospect to customer.
'Remember Maslow's hierarchy of needs?' the businessman questions. 'It provides a basic representation of human needs from physiological to self-actualization. These largely dictate human behavior. The need for the kind of safety and security that insurance provides typically arises when the physiological needs have been met.' Karram continues, 'Income plays a large role in this equation.'
Edward Karram makes an excellent point. Research has shown that one of the most popular approaches to purchasing insurance is income replacement. With this approach, a formula of anything between five to ten times a person's salary is used to calculate the amount of coverage people ought to invest in.
In some cases, insurance can be tied to the top tier of the pyramid, viz. self-actualization. If an individual is concerned with the legacy they leave behind, life insurance will follow in the footsteps of self-actualization rather than physiological needs.'
Another thing to consider, per the businessman, life insurance is, by and large, an emotional purchase. Most people don't feel obligated to put down their money on coverage unless they experience the personal loss of someone close to them.
So what are his tips for closing a sale? 'For starters,' Edward Karram explains, 'build value that goes far beyond the price. Determine what is valuable to your prospect. Is it their family, happiness, peace of mind, their assets?
Karram continues, 'Once you figure that out, weave that into your pitch. You could touch upon the adverse effects of losing control of their assets, the pride involved in taking care of family, etc. These psychological hacks might seem manipulative, but they're essential in putting things into perspective for the prospect.'
While most salespeople don't consider this, suspicion is a huge part of a life insurance transaction. Edward Karram provides an interesting insight.
'When it comes to large investments, people are naturally suspicious,' Karram says. 'So when you're pitching a new product, the prospect's mind is attempting a few gymnastics, mentally calculating the risks.'
Your job? 'Provide stories of past clients, families, and friends that have invested in the same coverage for the better,' Karram advises. 'Cite data from reputable sources and furnish testimonials if you must.'
The life insurance agent acknowledges that fostering trust within the span of a phone call is not an easy thing to do, rather it's a skill gleaned through trial and error.
More on Edward Karram and SELL-U
Karram stumbled into the financial sector with very little guidance and, within the first 12 months, had already gone through three different IMOs. The entrepreneur realized that there was an abysmal lack of quality training in this industry, prompting him to create SELL-U: an effective training platform for agents to learn about all aspects of the life insurance business.
Agents receive professional instruction from the top leaders in the industry including personal mentorship from Edward Karram himself. The program empowers agents to elevate their online presence and access valuable leads on demand.
CONTACT:
Caroline Hunter
Web Presence, LLC
+1 7865519491
SOURCE: Web Presence, LLC
Get a daily dose of Miami Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Miami Mirror.
More InformationNEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...