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[Music] how to save a policy that's wanting to cancel we covered real quick in the last video what it looks like what to say to get back in front of the client over the phone when they want to cancel now you're sitting in front of them face to face and I just want to point this out real quick to you if you get in front of ten extra families maybe every month and a half that want to cancel and you save 80 percent of them which is a ratio that I've seen that's eight families that you'll save at every ten that's eight thousand dollars on average of fact in 2017 I look at my numbers an issue paid over four hundred thousand if I had ten percent more stay in the books that's a forty thousand dollars more and it comes so getting back in front of the clients it's a big big deal as far as retention and it's easier to get that client to see the value again and where you sell them on it they're going to try to find another client that doesn't necessarily see the value to make that sell all right so this is what you want to do first is you want to have them sign a form so I say perfect I get down sit down in front of them I say Bob Mary I'm signing this form this is a cancel to protection on the family and they sign if you say I don't have a form you can just write up a form I'm out Mary requests to cancel my life insurance effective immediately I no longer need a protection they sign it now once I do that I go to point 2 and which is not Bob because now we're giving them what they wanted they expect me to go in there and try to convince them not to cancel all this and that and so I'm already kind of like switching up their expectation and saying listen it doesn't make a difference to me I'm just a fill down right I'm not the sales rep trying to save it or get you to keep it or convince you of something and that's not my deal I just feel done right so that's why I step one comes on the form step two is I step back said by the way guys I'm just curious and this just comes from from me knowing how important was when I first sat down with you guys and I'm just simply a chill done run enough sales rep so I asked you just out of curiosity what's caused you to want to cancel the protection for your family what's what is that and when I ask that question I'm gonna identify what the reason is and that's what I need to overcome is not the fact that you need to cancel and want to cancel it's why they want to can and that could be it could be budget it could be their cousin Billy said that he's paying only X amount but he's 20 and they're 40 and they're like is that you're getting ripped off and they don't even understand the concept of of as you get older it cost for kind of thing or it could be any of those things right and so once identify them if they just say it's budget now what I'm going to do is I'm going to sit back and say listen I understand guys I mean everybody for the most part that I meet with you know budget is something that you know they have to take into consideration and if you're like anybody else they don't they don't live with an extra $3,000 a month of disposable income a lot of times just a couple hundred dollars and so it's hard to play it all out and make sure that their budgets gonna officially work every month so they can pay the bills put food on the table etc so I understand 100% in fact but I think most clients feel the same way and this is what I found so the whole fill fell found process to kind of relate to them but I'm not trying to convince them of anything I'm just trying to be together walk them through the thought process it will make the most sense and I'm gonna say listen what I found is this when it comes to the protection for your family you're always gonna have balls you're juggling so to speak in your budget trying to figure out things and make it work and so the best thing that most clients will kind of you know rest upon and go back to is that religious it all falls upon priorities what's most important and then you kind of scale it from there or else what might happen is what most of them is most important for you get squeezed out and things are significantly less support take that space and so what I know to be true this with all the uncertainties of a budget the one thing that is certain is that your family's the most important thing to you well I know that from sitting with you and looking at this this inventory that we took that your family's a most important thing to you that being said I know that if you don't come home tomorrow that $2,000 gone and Mary you're gonna have to figure out how to survive off at and if you can't afford it or if it's tight now imagine what devastation that's going to look like while dealing with the passing of Bob and trying to emotionally get through the devastation now sitting back saying how do I pay the bills how do I do that and so I think that you would agree Bob with me in there I know you'd feel a lot better it's just like most every other family rose and this is one of those things you have to make work and fit everything else around it because it is that important to your family and Bob you know as an understudy but my job to do it but I couldn't convince you that you would want to pay the 60 bucks a month you can't convince me that in a priority list of your families I'm not the most important thing to you so this is one of the things I think we both agree that you really probably want to make sure it stays in place is that fair to assume well you know you probably right ball okay great and now if I need to scale back and that of you know this scenario to say let's look at something a little bit lower I like a look at some little bit lower and resubmit it but you always want to go back and see these families and this is the way you want to you want to flow through time the forum why cancel go back to there why right that picture that you painted in the first time you sat with them financially Emmett or woods gonna look like when they pass away that emotion get them feeling and getting them back in that picture and then go back to the close so hope that helps guys thicker [Music]