When people say "I dont have money to buy insurance?" how to solve this objection?

I'm assuming you are trying to sell life insurance. If that's the case, here are a few ideas which might help you.

Objections are good. When an objection is offered, the prospect is saying, "Tell me more". The more objections, the better. Soon they will run out of them if they all are answered to their satisfaction.

After you have made your presentation, ask, "John, is there any reason whatsoever that you would not want to buy this insurance today?" (Shake your head "No" while asking the question. The prospect might shake his/her head also)

When an objection comes up, say, "John, in addition to that, are there any other reasons why you would not want to buy this insurance today?" Write down the objections. If another objection is offered, ask again, "In addition to that, are there any other reasons why you would not want to buy this insurance today?" Soon they will run out of objections, then you can begin to answer them one by one.

Always repeat the objection back to the prospect. If he/she hears it, they might think it's a silly, or otherwise futal, reason not to buy.

Then say, "If I can satisfy all your objections, will you purchase this insurance today?" (Always nod "Yes", and they will too.)

"I can't afford the insurance" is the most common. In this case you could say, "You can't afford the insurance?" "I can appreciate the fact that you can't afford the insurance at this time, but let me ask a question." (This especially works if money is the only objection). Speak slowly and sofly. They will strain their ear, if they have to to hear what you are saying.

"If one of your loved ones got really ill, and needed a special type of medication, and it was going to cost an additional $50 per week for that medication for that loved one to live, you'd find a way to buy the medication, right?" (Nod "yes") The prospect will also nod yes. "Good, I knew you would do that." What this insurance will do is provide, not only that extra medication for your loved one, but also buy food, clothing, shelter, and a nice income for your family if you're not here to provide those necessities for them". "How do you spell your last name?" (Begin filling out the application. As long as the prospect provides information, it's called "implied consent")

Another "no money" answer would be, "Are your parents still living?" If your mother called you and said,"John, my money is so tight now, since everything is going up so much, it's getting so I can't buy medicine because I won't have money for food. I really need another $50 a week to survive". "What would you do? You'd help her, wouldn't you?" (Nod yes, and the prospect will too)

This type of getting all the objections out in the open up front is called "Smoke out". You are getting all the objections out of the way, up front, so you won't have to deal with them later.

Also, watch the prospect's body language. During your presentation, If he/ she leans forward, you have their interest and attention. If they lean back, they are losing interest.

That $50 a week translates into a $216.65 per month sale.
($50 X 4.333 weeks in a month = $216.65)

Use what ever figure you need to cover the amount of insurance needed.

If you get through all the objections, and still can't close, say, "John, will you do me a favor"? (Nod yes) "Take this pen and sheet of paper, go into another room and write down what you'd want me to tell your wife, if something should happen to you, was the reason you didn't buy this policy today. I won't tell her until, and if, that should happen." Now, if he does that, she's wondering what on earth he would say. Either he'll buy the policy, or he and his wife will be into it after you leave.

I was in a home on this one particular occasion, several years ago. The man of the house had just purchased a brand new 4-wheel drive truck. It was nice, had all the options. I had done my fact-finding, and made a presentation. I could not close the sale on several attempts. I just asked him, "Bill, how much did you say your payments are on that truck?" He told me, proudly, that his payment was $250 a month. I said, "You know, Bill, some men would pay as much as $250 a month for a new vehicle, but would not give a second thought to setting aside just $50 a month for their family's financial security." Guess what! He bought the policy.

Another close is, "John, you're not telling me no, you're telling your wife and children no."

You need to order Tom Wolfe's "Financial Need Analysis" program, and study it and learn the presentation. I guarantee that your closing ratio will at least double at a minimum.

Also, you need to take LUTC classes. (Life Underwriter's Training Council) These courses give you action projects to complete in your every day activities, teaching how to answer objections, how to prospect, how to close the sale, etc. It's worth the time effort and the small investment of about $200 per course. (Give or take)

Best wishes, Happy selling, and God bless.