What Is Close Rate? Definition | Epic Life Glossary

Why it matters

Close rate shows how well an agent turns a real conversation into an application. A low rate may mean the agent needs better questions, clearer explanations, or more practice with objections. Agents should not push for a higher number by pressuring families, because suitability and best interest rules apply. Rates vary by lead source, product, and carrier. Call recordings and coaching help agents learn what works without guessing.

Source: en.wikipedia.org

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Related terms

Conversion Rate: Conversion rate is the share of contacts or leads that become customers. For an agent, it might be the percent of leads who end up with an issued policy.
Objection Handling: Objection handling is the skill of listening to a prospect's concerns, such as price or timing, and answering them honestly. A good response solves the real concern and never misleads.
Call Coaching: Call coaching is feedback on recorded or live sales calls from a manager, trainer, or software tool. The goal is to improve how an agent listens, explains coverage, and handles questions.
Needs-Based Selling: Needs-based selling is a sales approach that starts by learning the family's goals, budget, and risks, then matches a product to those needs. The product is chosen after the questions, not before.
Suitability: Suitability is the requirement that an insurance recommendation fit the buyer's financial situation, needs, and goals. Many states apply suitability rules, especially to annuity sales.

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Where we use this term

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