I won’t surprise you by saying that many insurance salesmen are sleazy and that you can end up being seriously screwed. In fact, other than car sales guys, who else would be more likely to screw you? One thing I always like to do is get a feel for what kind of person I am dealing with. How I do it?
The Absurdity Test
Basically, I know that sales guys have one fundamental priority. They need to sell insurance in order to make commissions. That’s more than fine. However, some are willing to do it at any costs while others do have a second priority: -selling the best fitted insurance to their clients
It makes sense for everyone you would think. Clients buying insurance that makes sense for them at a reasonable price are more willing to come back and do business with that individual in the future. While that is true.. it’s not AS true in insurance simply because it’s difficult to compare prices on many of these and most consumers will probably never know if they get screwed. I personally like to run a little test in order to see what kind of person I’m dealing with. It’s all about asking an open question. Then you can see what kind of answer you end up getting.
For example, I know that I needed about $1.5M in life insurance so I asked the guy:
“How much do you think I would need to cover my needs?”
Clearly, there are a lot of good answers and $2M might be easy to justify. I would however be very interested in hearing what number he’d come up with and how he would justify it. Clearly, if he comes up with $4M, he will need a lot of convincing. Not necessarily to sell me that $4M policy but just for me to consider working with this guy.
There are so many other questions that could be asked but in reality, it’s mostly about asking an open ended question where the answer you’re looking for is NOT obvious. These guys aren’t stupid either:) Just give them an opportunity to show their true nature:)
Have you ever tried this or other methods to judge your insurance broker or sales guy? If so, how well did it work?