New to Life Insurance....Tired of Cold Calling

[WinoBlues]

>>I don't understand what makes me different than a telemarketer...

The potential of a 6 figure income.

BTW, are you salary or commission only?

So its true then. I don't understand what makes me different than a telemarketer except that I'm soliciting an appointment and not a new phone plan. I've read several things online that the way of the cold call is over because of caller ID. I mean in December I was calling people for 6 hours a day and getting nothing. Nada. Zilch.

Do you know what that does to a man? That. He turns into a frowny faced pirate. I don't mind say, hitting the phones for 4 hours in a day I just need some other way of marketing besides getting turned down by everyone and their mother.

Besides I would really like there to be about a 2-3 month period in between phone calls. My target demo for life insurance is about 400-600 people in his book which I can cover in a month easily.

 

[VolAgent]

So its true then. I don't understand what makes me different than a telemarketer except that I'm soliciting an appointment and not a new phone plan. I've read several things online that the way of the cold call is over because of caller ID. I mean in December I was calling people for 6 hours a day and getting nothing. Nada. Zilch.

Do you know what that does to a man? That. He turns into a frowny faced pirate. I don't mind say, hitting the phones for 4 hours in a day I just need some other way of marketing besides getting turned down by everyone and their mother.

Besides I would really like there to be about a 2-3 month period in between phone calls. My target demo for life insurance is about 400-600 people in his book which I can cover in a month easily.

Get over it, or be prepared to fork over good money for bad leads. Sure, there are people who make a good living with internet and telemarketed leads, but they are the exception. The single hardest part of this job is prospecting, if you can prospect, you'll make money. If not, you are likely to just tread water.

 

[WinoBlues]

>>Besides I would really like there to be about a 2-3 month period in between phone calls.

Do you want to be paid during this vacation?

>>My target demo for life insurance is about 400-600 people in his book which I can cover in a month easily.

There is maybe more than $100,000 in FYP in those 500 files. What is his phone number? I will work it the 3 months you do not.

This is an agents forum. These guys will help you. We have all been there. However, there is no hand holding here. Have a beer, scream in your pillow or whatever. You have an opportunity to learn on someone else's clients, how much are you paying him?

 

[dyadvisor]

I made my money in insurance and NEVER cold called. Although, with you having so much detail this is not the normal cold call.

You need an ice breaker. Diamonds are not sold by cold calling but emotional appeal. It sounds like you are asking them what color their grave slab should be. Ask Mark R, for some more of a friend approach. You might not have the ball breaker approach to be different.
See my YouTube video if you doubt me. YouTube - Life Insurance Sales Technique that Delivers Results

 

[Guest]

Forget cold calling. It rarely pays off and you look desperate to the people you are calling. A better approach is to do things to get them to call you. Send out mailers, advertise, or offer free policy reviews. Get creative!

 

[dyadvisor]

bmobini7: great answer!

If you want a free classic Super ebook on creative thinking that you can personalize,(for giving free to prospective clients), let me know.

Nice to see the word creative, as in do not do what everyone else does. Have a great day.

[email protected]

 

[Insurance-Guy]

If you dont like cold calling you may want to try this...when customers come in to make payments ask them to review their life insurance. If they say they don't have any ask them if they would like a quote. Also ask the agent for all new home purchases and newly married couples call and congratulate them...and tell them now would be a great time to look at life insurance. It is still cold calling but at least you are calling for a reason.

Good luck...you also need to learn the art of getting referrals too...I have people before I have finished their application telling me that they are going to have their sister call me and I didn't even ask. Just show them why life insurance is so valuable.

Now how much life insurance do you have? If not issue yourself a policy when you get in the office...it is easier to sell products you have yourself I use my policies as examples all of the time when quoting.

 

[Goodneighbor]

OK ok first and foremost I'm paid about 22k in salary and 25 bucks for every life policy I sell (this is an extremely loose agency, I've only seen the 25 bucks from 3 of the policies i've sold.)

I'm going to review this information but I took a break between this post and the sugar bowl to have a drink and get over the fact that getting into the insurance business will require me to spend 1092409185097$%^?++ hours on the phone initially harrassing the **** out of these people I want to help.

Thx a bunch and any more info will be much obliged!

And I love my pillow, I will never scream at it.

 

[VolAgent]

OK ok first and foremost I'm paid about 22k in salary and 25 bucks for every life policy I sell (this is an extremely loose agency, I've only seen the 25 bucks from 3 of the policies i've sold.)

That puts things into perspective. Quit in the morning. You are making this guy his bonus and getting him his contract, if he is too cheap to pay you to sell, find someone who will.

If you really want to sell life insurance, find the local Mass Mutual, New York Life, Northwestern Mutual or MetLife office. Interview the managers and see who is really going to work with you to teach you the business. Don't accept just the project 200 as a marketing program. As young as you are, your friends are broke, and their parents remember you as the kid who cleaned out the fridge when you were over.

 

[Goodneighbor]

Ok Wino, but how do I work those 500 names if I have worked them already? You say theres 100k of FYP (don't know that acronym) but I have called those people and at least 100 weren't interested. The other 350 didn't pick up the phone. The other 50 I met with and ended, much to my protests, not buying any life insurance. They needed it! God they need it hell some of these people have kids and like 50k through work and over 100k in debts but all they ever say is "my wallet is tight and the budget is set."

I like the pizza method set above to put the meeting in my own power but I don't think that's gonna work like a charm. I like thinking outside the box on this stuff cuz as soon as I look like another salesman then people are going to think I'm another salesman.

Wino. What would you do right now if you had a book of 500 potential life clients?