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A Secret From The Greatest Life Insurance Salesperson

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"Don't sell life insurance. Sell what life insurance can do."  - Ben Feldman

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?

How can you apply this principle to grow your sales?

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.

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