Annuity Marketing

[indiana260]

I am a FE guy that has some cross experience with annuities. I have been thinking about pursuing more annuity business.

My question is does direct mail work for annuity sales? If so, can anyone recommend a lead company?

Is there a better method? I have looked into the social security seminars but am a little reluctant.

 

[AnonymousOne]

As far as annuity leads, you are looking at the saving money on SS...or policy review ones that are worded like their annuity is maturing, which borders on breaking plenty of rules.
SS seminars would be a choice, but filling those seats are going to require a bit more work and money. And it isn't until that is complete do you get your leads, which may or may not be appts.

 

[Newby]

I am a FE guy that has some cross experience with annuities. I have been thinking about pursuing more annuity business. My question is does direct mail work for annuity sales? If so, can anyone recommend a lead company? Is there a better method? I have looked into the social security seminars but am a little reluctant.

Direct mail for annuities was not good for me. Mine have come from Med Sup and FE cross sales.

I do more annuities when I'm not really looking for them.

 

[Justin Bilyj]

The annuity maturing direct mail has certainly gotten many lead companies sued...

 

[KRobby]

I am a FE guy that has some cross experience with annuities. I have been thinking about pursuing more annuity business.

My question is does direct mail work for annuity sales? If so, can anyone recommend a lead company?

Is there a better method? I have looked into the social security seminars but am a little reluctant.

LC certainly delivers. Keep in mind, people turning in the cards are expecting a quick-fix tax reduction, not a 'hey howbout you move your money over to this annuity.' I tweaked my presentation points for months to figure out how to take it from A (oh I can help you with that) to B (slip em the apps), but the challenge is enjoyable.

Apparently seminars are more common, but if you can get appointments through lead cards, why bother.

 

[scagnt83]

LC certainly delivers. Keep in mind, people turning in the cards are expecting a quick-fix tax reduction, not a 'hey howbout you move your money over to this annuity.' I tweaked my presentation points for months to figure out how to take it from A (oh I can help you with that) to B (slip em the apps), but the challenge is enjoyable.

Apparently seminars are more common, but if you can get appointments through lead cards, why bother.

Im guessing you are talking about the "save taxes on SS income" cards similar to this:

I just cant get behind using these. Ive heard agents say they have good success with them. But to me it feels like bait and switch since they do no expect to be offered an annuity.

It also makes it seem that some new great law has been passed by Congress.... which obviously is a lie.
Not to mention that mailers like that are a regulatory time bomb.... it violates so many of the NAIC Annuity Advertising Guidelines.


You might be surprised what kind of response a direct and honest DM piece can generate....

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The annuity maturing direct mail has certainly gotten many lead companies sued...

Great example.

I remember the "your annuity may be matured and eligible for a higher rate of return" mailers.

So many prospects thought that it was a direct communication from their existing insurance company... then a new agent from a different company shows up to sell them a new product....

And it wasnt just the lead companies who were sued over it.

 

[indiana260]

Can you tell me where to find an honest mail piece to order. I am not crazy about the ones I have seen. Like you said, to much of a bait and switch game

 

[Justin Bilyj]

It's not a bait and switch game if you know how to present correctly. You should read Doug Warren's book on Annuity strategies, best annuity book imo. He shows how with the tax form you can educate them on not only social security taxes, but also if the government is taking 1 bite, 2 bite, or 3 bites outa their taxes. Combine that with social security taxes and you have a powerful presentation that will educate the senior about what annuities can do for them, even if they didn't originally send away for annuity info.

 

[scagnt83]

It's not a bait and switch game if you know how to present correctly. You should read Doug Warren's book on Annuity strategies, best annuity book imo. He shows how with the tax form you ............... a powerful presentation that will educate the senior about what annuities can do for them, even if they didn't originally send away for annuity info.

Obviously Annuities have tax advantages.

But if you read that postcard, the headline says something about "congress passing new legislation" .... no where on there does it even mention annuities.

People who reply to these are expecting info on new congressional legislation.... instead they are contacted by an annuity agent.

It most certainly is bait and switch! It is almost the very definition of bait and switch...


I do realize that annuities can help alleviate some of those issues mentioned on the card. But not to the extent that the card states. It is misleading.


Instead of priming them with a bunch of half truths, why not just have it show the benefits you mentioned? Why mislead? That only puts you in more of a hole in trying to gain their trust.

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Can you tell me where to find an honest mail piece to order. I am not crazy about the ones I have seen. Like you said, to much of a bait and switch game

Create one. Vistaprint has very cheap DM Campaign prices.

If you arent good at graphic design go to fiverr.com and find someone (it starts at $5 per project).

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and you have a powerful presentation that will educate the senior about what annuities can do for them, even if they didn't originally send away for annuity info.

If you are just giving seniors a presentation that they didnt ask for.... why take on the extra expense of DM lead mailers? It would be much more cost effective to get a targeted list and cold call.
Either way you are talking them into something they didnt ask for.... which is the exact opposite point of paying for DM.... jmo

 

[Justin Bilyj]

the 2010 is the point where income limits were lifted for converting to roths, this could very well pertain to the prospect. But I have also seen mailers that don't talk about any recent legislation, just how to decrease social security taxes.

There's a whole presentation about the social security mailer strategy in the book mentioned above. And the way the guy goes through it, doesn't seem misleading at all. jmo....