Objection handling
How to answer “The fees on investment life insurance are too high”
The customer worries that costs will eat into the savings.
Why customers say it
Fees are easy to see and the long-term benefit is not, and many people have heard bad stories about charges.
Three ways to respond
One approach for each setting. Adapt the words to the customer and to your company’s rules.
- In sales
- Be open about costs. “You are right to ask. Let me show you every cost in the product so you can judge it yourself.” Never hide or play down a charge.
- In insurance
- Put the cost structure on the table in plain words. “These are the one-off and ongoing charges, this is what you get for them, and this is what happens if you stop early.” Do not promise returns.
- In a contact centre
- Stay factual and offer the documents. “May I send the cost overview in writing so you can compare it with any alternative?”
A common mistake
“Fees do not matter in the long run.” Waving away a legitimate concern.
Educational conversation training. It is not legal or financial advice and it promises no results. Always follow your company’s rules and the terms of the product.
Practise it out loud
Talk to an AI customer who raises this objection and read in the report which sentence helped.
Questions about this objection
What does “The fees on investment life insurance are too high” mean?
The customer worries that costs will eat into the savings.
Why do customers say “The fees on investment life insurance are too high”?
Fees are easy to see and the long-term benefit is not, and many people have heard bad stories about charges.
How do you answer “The fees on investment life insurance are too high”?
In sales: Be open about costs. “You are right to ask. Let me show you every cost in the product so you can judge it yourself.” Never hide or play down a charge. In insurance: Put the cost structure on the table in plain words. “These are the one-off and ongoing charges, this is what you get for them, and this is what happens if you stop early.” Do not promise returns. In a contact centre: Stay factual and offer the documents. “May I send the cost overview in writing so you can compare it with any alternative?”
What is a common mistake when a customer says “The fees on investment life insurance are too high”?
“Fees do not matter in the long run.” Waving away a legitimate concern.