3 Ways to Overcome Insurance Buyer Hesitation

By Allison Babberl on June 14, 2017 in Selling

How to Overcome Buyer Hesitation

Buyer’s Hesitation

There are many more healthcare choices available today than ever before. You can buy from the Marketplace, the open market, through your employer, through private insurance providers, etc. One big problem this creates is that people are overwhelmed with options. This is one of the leading causes of buyers hesitation.

Why does this cause buyers hesitation?

I’m sure you’re familiar with buyer’s remorse. Buyer’s hesitation is the step before that or the step taken in hopes of avoiding buyer’s remorse. There are so many options, so your clients and prospects aren’t entirely sure which one to choose. They fear making the wrong decision and either being underinsured or paying too much for coverages they don’t need or use.

Continual changes in the healthcare industry do little to quell these fears. The proposed changes to the healthcare marketplace calling for Open Enrollment to be shortened from 3 months to just 45 days isn’t helping either. This shortened deadline has the potential to heighten buyer’s remorse since we’ll have to choose a plan in a shorter amount of time without hope of changing if we find it doesn’t fit us right.

On top of that, the uncertainty of the healthcare world and what will be coming in the future for the industry is making buyers hesitate. What has always worked for them in the past may not work in the future.

"Basically, people want to save time and money, make life easier, be respected and happy, make money, and eliminate pain in their lives.”

Jay Conrad Levinson

What can you do?

Be an asset to your clients.

Help your clients and prospects. Take the extra time to coach them through the process of buying or changing their coverage. It’s a scary time for them trying to envision everything they’d possibly need coverage for in the next year. Be willing to listen to them and help them find the best solution for them. By focusing on them, your clients will:

  • Respect you more
  • Trust you more
  • Be more likely to stay
  • Refer you to their friends.  

Ensure their security.

Take extra levels of precaution for both you and your clients. With so many other uncertainties in the industry right now, make sure that your clients’ information stays safe by using an industry-specific agency management system (AMS). This will alleviate one concern from your mind and allow you to focus on serving your clients and giving them the attention they need.

Become their expert.

Have ready-made handouts for them to keep. These can be handouts including:

  • A glossary of basic health and life insurance terms
  • Important dates to keep in mind (Open Enrollment and AEP)
  • A regular joe’s guide to insurance
  • The reader’s digest version of coverages like long-term, final expense, and cancer insurance, or something broader like the ACA Exchange

Every little bit helps and will go a long way in building that loyalty and ensuring retention from your clients.

Learn more about overcoming indecision

Check out our blog: Why Indecision is Unhealthy & How to Combat It

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Allison Babberl
Allison Babberl

Allison is the Marketing Content Specialist at AgencyBloc. She creates educational content and designs videos to promote AgencyBloc's resources to help you organize, automate, and grow your insurance agency. Favorite quote: “Conversation is the bedrock of relationships. Without it, our relationships are devoid of substance.” -Maribeth Kuzmeski More articles

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