Hegna's Hotseat

Four Objections & How To Handle Them


on't let any objection stop your sales process ever again! You need to be prepared to handle them. Start by thanking the prospect for the objection, and empathize with them using responses like, “I hear that often,” or, “I used to say the exact same thing!” Then explain why the objection isn’t the problem. Here are four common objections and how you can handle each one.

1. "I'm too old to take any action with my retirement plan."

That's just not true. The prospect is already talking to you about taking action! The older you are the higher the guaranteed payout with lifetime income annuities. You're never too old to buy a dollar for less than a dollar. As long as the payout is higher than the premium, you're never too old.

Let me share a story with you. When I finished a seminar in San Antonio, Texas, an 83-year-old gentleman approached me. He said, “Well, Tom, that was a very interesting presentation. But what should I do with MY money? I asked him two fundamental questions, "What do you want your money to do while you’re alive, and what do you want it to do when you die?" Here’s what he said, “Well, I reckon nobody’s ever asked me that before. But here’s what I want: I want a guaranteed paycheck every month for the rest of my life. And when I die, I want my wife to get that same check for the rest of her life. Now when she dies, we want our son to get that same check for the rest of his life. And then when he dies, I suppose his wife should get it for the rest of her life. And finally, when his wife dies, we want our granddaughter to get it for the rest of her life.” Lucky for him, he can accomplished all of this with just a one lifetime income annuity.

2. "How do I know that you are the right advisor for me?"

Trust has to be EARNED. No one is going to hand over their life savings the second they walk into your office. They want to see some evidence of your credibility. Show them your experience, training, and research! Demonstrate that you take an interest in their inquisitive intuition, and then you will gradually earn their trust to look after their best interest.

The fiduciary standard is intended to ensure consumers that advisors are looking out for their best interest. If you’ve been following the debate on this topic in the news at all, you’ll see it is still unresolved. The important way this relates to objection two is that once you lose trust, it is very difficult to regain.

3. "I'm going to die young so it doesn't matter."

You may die young or you may not. The important thing is to have a PLAN in case you live a long life so you don't outlive your money. Living a long time with nothing is way worse than dying young. No one knows when exactly they will die. Life Insurance companies can’t even tell you precisely when you are going to die! However, they do know how to calculate the longevity of a group of people LIKE you.

4. "I had an agent or advisor who lost me a bunch of money."

We all know there are bad advisors out there, and that's why you're dealing with us! You should welcome conversations including objections because it is proof that people are interested. To tackle this objection, show them mathematical, scientific, and economic facts! Prove to them that you can cover their basic living expenses with a guaranteed lifetime income, optimize the rest of their portfolio to protect from inflation, put in a plan for Long Term Care, and transfer wealth in the most efficient manner possible. Prove you do things the right way, and that’s why consumers come to YOU.

Look, most initial objections are actually false objections. A person sometimes throws out a common objection because he just doesn’t know what to say. That’s why sometimes it works to just smile and say, “That’s okay,” and continue your presentation. If you hear the same objection in several appointments, you need to include it in your presentation.

One technique to do this is to use third party references to handle the objection. I use the research of PhD’s to prove my points, and many advisors use my books. If you haven’t explored Tom Hegna on Demand, you should know that all four of these objections and over 100 more are addressed with the new Handling Objections training.

I hope to see you on the road soon,
-Tom Hegna

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