How it works
In general sales, the close is the last step, where you ask for the business. Sales blogs list named techniques for it, such as the assumptive close and the summary close. Whatever the technique, the client can still say no.
In advisor sales it's usually its own meeting, after the Opening and the needs analysis. You explain your recommendation and why it suits them, go through what they need to know about the product, and ask for their decision. In Singapore, MAS Notice FAA-N16 says you explain the basis for your recommendation and give the client a written summary of it.
A Closing isn't a closed case. The Closing is the meeting, and the closed case is the application the client signs, which some Closings produce and others don't, because the answer can be yes, "let me think about it" or no. Counting the two apart gives you your closing ratio: closed cases / Closings.
Worked example, with made-up figures: this month you held 10 Closings and 6 signed. That's a closing ratio of 60%. The 4 that didn't sign are worth a look. If most said "let me think about it", the recommendation may have come too early. If most said no, the needs analysis may have missed what they cared about.
A yes the client isn't sure of costs you later. A policy that lapses in the first year stops paying you renewal commission, and your firm's checks look at how the sale was made.
In ActivityTracker, Closing and the closed case are logged separately, each in one tap. Log a closed case with its premium and the first-year commission fills in.
Where it shows up in your week
A low closing ratio is easy to miss when the Openings look healthy. The sales funnel shows the share of your Closings that end in a signed case, and names your weakest step.