Getting leads

[Travis Price]

Hey all,

I just got myself appointed for annuities. I'm going to send out an email and followup letter to my current Medicare clients. However, I'm really interested how you guys get leads?

I'm an inbound guy, so I'm willing to pay a higher cost for a higher quality lead. I just don't want to talk to a bunch of people not knowing why we're talking.

 

[Tahoe Ray]

Won't happen. Most annuity leads are going to be 200-300 each and people will still not know why you're calling.

Annuity leads are the hardest leads to get in the market.

You'd be much better off working medicare and then just cross-selling annuities.

Save yourself the headache and money.

 

[Travis Price]

Won't happen. Most annuity leads are going to be 200-300 each and people will still not know why you're calling.

Annuity leads are the hardest leads to get in the market.

You'd be much better off working medicare and then just cross-selling annuities.

Save yourself the headache and money.

Thanks for the input.

 

[Tahoe Ray]

Thanks for the input.

No problem.

And I'm sure you can sniff out bullshit but anyone who has a "system" or says "our leads are different" is full of baloney.

If someone can legit develop annuity leads (and there are sites that have accomplished this) they won't sell you their lay-downs. There's just too much money to be had on even a few sales. They hire more agents and sell themselves.

Big ticket stuff doesn't need a ton of prospects to be super profitable. That's why you don't see DI leads or WL (for cash accumulation) leads being sold for cheap either.

If you can generate them, you write them.

 

[Travis Price]

No problem.

And I'm sure you can sniff out bullshit but anyone who has a "system" or says "our leads are different" is full of baloney.

If someone can legit develop annuity leads (and there are sites that have accomplished this) they won't sell you their lay-downs. There's just too much money to be had on even a few sales. They hire more agents and sell themselves.

Big ticket stuff doesn't need a ton of prospects to be super profitable. That's why you don't see DI leads or WL (for cash accumulation) leads being sold for cheap either.

If you can generate them, you write them.

I was planning to do more as an add on sale to Medicare.. my thought is I'd rather them trust me before handing over thousands to more.. Medicare is an in the door.

 

[Newby]

Hey all,

I just got myself appointed for annuities. I'm going to send out an email and followup letter to my current Medicare clients. However, I'm really interested how you guys get leads?

I'm an inbound guy, so I'm willing to pay a higher cost for a higher quality lead. I just don't want to talk to a bunch of people not knowing why we're talking.

If you already sell Medicare then those appointments are your annuity leads. Mostly the Med Sup appointments but the Med Advantage can be also if they have money accumulated.

Don’t buy annuity leads from anyone or you will be disappointed. You just look for people with a lot of money in CDs or people who are mentioning that they are getting nervous about having too much of their retirement savings in the market.

I never seeked out annuity sales and never once brought them up cold. But I sold a fair amount for several years just by listening to what people were saying to me. Mostly in years where the market dropped.

The only other way I’ve seen them successfully marketed is dinner seminars.

 

[Travis Price]

If you already sell Medicare then those appointments are your annuity leads. Mostly the Med Sup appointments but the Med Advantage can be also if they have money accumulated.

Don’t buy annuity leads from anyone or you will be disappointed. You just look for people with a lot of money in CDs or people who are mentioning that they are getting nervous about having too much of their retirement savings in the market.

I never seeked out annuity sales and never once brought them up cold. But I sold a fair amount for several years just by listening to what people were saying to me. Mostly in years where the market dropped.

The only other way I’ve seen them successfully marketed is dinner seminars.

Thanks for the insight.. I'm pumping up my Medicare DM to get in the door and offer other products..

 

[walthamny]

I was planning to do more as an add on sale to Medicare.. my thought is I'd rather them trust me before handing over thousands to more.. Medicare is an in the door.

Just focus on smoking the 1st meeting. Dont become a product salesmen, become a trusted advisor. If you could find 25k a week in annuity premium, It will add 70K plus a year to your income. And once a month you will find a 200 to 300K one, that will add 200k more to your annual income. Full fact find and become a trusted advisor through medicare.

 

[Allen Trent]

Just focus on smoking the 1st meeting. Dont become a product salesmen, become a trusted advisor. If you could find 25k a week in annuity premium, It will add 70K plus a year to your income. And once a month you will find a 200 to 300K one, that will add 200k more to your annual income. Full fact find and become a trusted advisor through medicare.

What products are you selling today that average 5-10% commission in today's environment? Do you only sell index annuity & not any MYGA products? Most of the MYGA with good rated carriers are not anywhere near 5%

 

[Tahoe Ray]

What products are you selling today that average 5-10% commission in today's environment? Do you only sell index annuity & not any MYGA products? Most of the MYGA with good rated carriers are not anywhere near 5%

He's likely mainly doing rollovers which are the easiest and most appropriate indexed sales imho.

If I were selling medicare, that would be my target as well. You can find the bank money on 70+ and write MYGA, or grab the 401k at ages 65-70 and make a lot more money (or both).

It's also why I encourage agents to get a referral source or an RIA themselves. If a client has 500k and you roll 250k into an FIA, what's happening with the other 250k? You're just asking to lose that client if you can't service and come up with another strategy for the other half.

Nobody worth anything pays 10% anymore. 4-7% is reasonable for indexed products. (I know that you know this, Allen, just stating it for the lurkers).