Cold Calling Final Expense

[carol369]

When yall cold call, how many hours at a time do you do it?

and how many hours a day do you do it?

When I was cold calling for a "medicare review" as that company put it, I had to cold call Mondays 4-6 hours & hopefully get enough appts for Tues-Thurs. Didn't always work. Sometimes I got very few answered phones or lots of either a no or a hang up!

 

[KJ in Miami]

I saw on the other day - not sure if it works, not endorsing it but just answering the question... final expense 101

 

[Frank Stastny]

When I was cold calling for a "medicare review" as that company put it, I had to cold call Mondays 4-6 hours & hopefully get enough appts for Tues-Thurs. Didn't always work. Sometimes I got very few answered phones or lots of either a no or a hang up!

I have found setting appointments to do "Medicare Reviews" to be a huge waste of time. I don't set appointments unless I know how much they are paying, they know exactly how much money they will save and I have a real good idea that they are going to qualify.

That's what makes cold calling, for Med Supps, work for me. Then I use a portion of the money I saved them, not all of it, and suggest a small FE plan

 

[Briefcaseboy]

I think I would say something like this: Mr. Jones I hope I'm not bothering you, (I have real concern in my voice because I really don't want to bother them )...( a whole lot of times they say...oh no, your not bothering me ) Well, I sell medicare supplements for the Ajax insurance company and I just wanted to check and see if I can save you some money on your current Medicare supplement. I may not be able to, but I just wanted to check and see. What company are you with ? They may say BCBS...oh, that is a good company, what rate are you paying ? Response... such and such. Well, I have the exact same plan for a lot less. These plans are designed by the Federal government and the NAIC, all the insurance companies do is offer them to the public. Plan F with one company is the same as Plan F with another company, the only difference is the premium you pay. Would you like me to help you out and get you a lower rate ?

Before I get any criticism, I'll admit I'm not a professional salesman, but I am a people person and try to develop a repoire with the prospects. I try to be very knowledgeable on the products I sell and just be myself, not parroting a script. I read a book by Napoleon Hill and one thing he said was worth the price of the book. IF YOU WANT TO BE HELPED, YOU HAVE TO HELP OTHERS. From then on I decided I would genuinely try to help people with the insurance I sell.

 

[Frank Stastny]

Would you like me to help you out and get you a lower rate ?

This is where I would suggest you make a change. Instead of asking if she would like you to help her, (in doing so you give her the opportunity to say "no") why not say something like "If you had that same exact Med Supp Plan with me or, with the company I represent, your premium would only be $_____. That is $_____ less than you are currently paying and you are getting the exact same coverage.

For more effect tell her what the monthly savings is and then tell her how much that would be per year. They are not going to do the math in their head when you are talking to them, you have to do it for them. The annual savings makes a much greater impact than the monthly savings.

 

[Briefcaseboy]

Mr. Stastny,
You are absolutely right ! Thank you for the input. I will incorporate the advice you just gave into my presentation.
Thank you !

 

[arnguy]

I don't know how anyone can spend 8 hour a day cold calling. After just two hours, the life is suck out of me.

Ain't that the truth. Many years ago I worked for a telemarketing outfit selling insurance. Only the brain dead could do it for more than 4 hours!

 

[zoopie]

I use direct mail - response 2+ % RETURN. $400 gets me 5- sales. I only do final expense. I am closing 70-80% of sits.

Never successful at the cold calling part......no luck with pre sets......

i would love to know what your system is. being here in IL i don't think i'd be stealing from you!

who is your source for the lists you mail to? what is the message you're sending in your piece? i'm mostly p&c/commercial now, and would like to expand my life business

 

[amirla84]

20-28 responses out of 1000? that comes out to 2-2.8%.
what are you mailing? the same $255 social security card?

 

[jjmjenni]

try tiproute.com those guys do a good job they even knocked off $10 each of my preset appointments and replaced my no shows i have no complaints yet lol