How to Sell Annuities

how to sell annuities, 3D Advisors

Success as a financial adviser and even brokerage success depends on how well you, as a general agent, can sell financial products. No matter the financial climate, there will always be people looking to protect their income and plan for retirement and you must know how to advise and sell them the right product to fit their financial needs. Nowhere is this more important than in selling annuities. Most people don’t know what annuities are or how they can benefit their retirement portfolio. The following are tips to help you sell annuities to those looking to plan for a bright financial future:


  • Knowledge on how the product works is the first step. No matter how knowledgeable a client is, if they don’t know how an annuity will work for them, they won’t buy. Educate your clients on how an annuity will fit in their retirement plans and how it can perform for them.


  • You need to know what their plans are. As education goes, you need to know exactly what their plans are. How close are they to retirement? What plans or products do they already have? Knowing what your client needs will help you tailor your sales approach and the product specifically for them.


  • Know when to push and when to leave it alone. The problem with many advisers is that they get pushy when it comes to selling annuities. Nothing will kill a sale faster than an overly anxious sales person. Know your client’s needs, work to meet them, know when to be aggressive and don’t be afraid to leave it with your clients and back away. Chances are they might need a little time to think before buying.


  • Be ready for questions and lots of explaining. As mentioned before, many people don’t know how annuities work and they will have questions. This is the part when you need to be patient and have the knowledge to answer their questions. If you don’t have an answer, be honest and get the answer quickly. Your clients will be trusting you with their future, they have a right to ask questions and you need to provide the answers.


In the end, present the product, be honest and up-front with your clients and believe in your product. Taking time and effort to meet your clients’ needs will help you make the sale.


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