Tele Insurance Sales

[Donnell Clement]

Hello all, I am taking my life insurance exam next week and hoping to start a business selling life insurance over the phone. Can anyone tell me about what they know about companies like Digital BGA and Assurance? Any feedback is greatly appreciated, thanks.

 

[Tahoe Ray]

Hello all, I am taking my life insurance exam next week and hoping to start a business selling life insurance over the phone. Can anyone tell me about what they know about companies like Digital BGA and Assurance? Any feedback is greatly appreciated, thanks.

I know nothing about Assurance but the guys at Digital are great and they do a good job in helping you succeed.

There are several people on this forum with Digital including the founders @JRoot

 

[marindependent]

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There are several people on this forum with Digital including the founders @JRoot

True. Good People.

 

[Donnell Clement]

That's great! Thanks for the feedback I just have one more question. Does anyone know if I can start out working part-time first and then eventually do it full time when things take off? Thanks.

 

[Travis Price]

That's great! Thanks for the feedback I just have one more question. Does anyone know if I can start out working part-time first and then eventually do it full time when things take off? Thanks.

So, most of DBGA's coach's will tell you part time isn't really a realistic approach in their model.

For life insurance, you really have to hustle. With final expense there are small residuals. I don't think there are any with term, but someone else can say for sure.

That means if you're not selling, you're not making any money. If you're set on life insurance, I'd probably not go part time (this is coming from a part time Medicare Agent)

I'd save up a few grand and the just go.

 

[SafePoliciesInc]

SEO poeple, local SEO specifically. Once you have traffics to your website, your phone will be ringing off the hooks. I can't believed there isn't any Chinese speaking people here that can help me handle some business. (Well, I am not looking for rookie either, I apparently also know many friends (whom speak Chinese) that sells insurance, but most of them are commissions first, hence, there always have to hustle for new victims. I however, believing me, treating your customer like your family, so eventually, you will be like me, too many clients to take care off.

 

[SafePoliciesInc]

Our website, didn't get as many traffics, but the local SEO (Google My Business) gets us 10 fold the traffics. I am looking for someone that speaks Chinese & have CA, NY, TX, WA & IL license, there where most of my core clients (Chinese Speaking Immigrants) are. Remember, I am not recruiting, I am just looking for people to split cases (the calls in lead) with us. Life insurance is a long drag out process, I don't have the time for it. (We take 30%, you take 70%)

 

[titeye]

That's great! Thanks for the feedback I just have one more question. Does anyone know if I can start out working part-time first and then eventually do it full time when things take off? Thanks.

Take Travis' advice. You do not want to attempt this business part-time, just to see how it goes. Most likely, it will not go the way you expect, and you will quit. This business, actually, requires overtime. Why? Because you are totally responsible for whether or not you receive a pay check. You are not an employee. Instead, you are making the decision to become a business owner. Small business owners do not have the luxury of working part-time.
As a small business owner, it is YOUR responsibility to generate revenue and make a profit. It demands that you continuously prospect, subjecting yourself to ridicule and rejection 80% of the time, before you generating a sale. The moment you stop prospecting is the moment you have closed your doors to generating revenue. Small business owners who are only committed part-time will always find it difficult to survive. This might not be what you expected to hear, but it's the truth nonetheless.

Jump in with both feet, and make it do what it do!

 

[Rob Lion]

Hello all, I am taking my life insurance exam next week and hoping to start a business selling life insurance over the phone. Can anyone tell me about what they know about companies like Digital BGA and Assurance? Any feedback is greatly appreciated, thanks.

Assurance is a great place if you're new and have 0 money for leads, it's a really harsh environment though. I have all my contracts with DigitalBGA and have for many years now, if you have the money for leads and can commit FT there isn't a better place to be for selling over the phone.

 

[BarryNY]

It demands that you continuously prospect, subjecting yourself to ridicule and rejection 80% of the time, before you generating a sale.

I guess the only reason you would subject yourself to ridicule and rejection is that you are trying to turn a lead into a prospect?

He's going to need a steady, consistent supply of prospects (my definition of a lead). Without that – he will fail at FE telesales. Period. You need to be talking to people to facilitate their purchase (right I didn’t say to make a sale) – not dialing hundreds of people a day just looking for someone to talk to! Value your time. You’ll need to be efficient.

In telesales, on average - you’ll still need to talk to about 5 "prospects" to close a sale. Some will do better and less experienced will do worse – but a 20% close rate for conversations had with a prospect (a conversation defined as more than 15+ minutes) is a good rule of thumb. If you’re dialing for 3 hours a day just to find people, anyone, that MAY want to have a conversation – how in the world are you going to talk to 5 of them for 45-60 minutes each - in order to make that one sale a day? Do the math – it’s an unsustainable process.

So what’s the definition of a lead? Some IMOs will tell you ANY warm body that’s on the phone is a lead. When you don’t close them – they’ll tell you it’s all your fault…you’re a lousy salesman. The lead “sold you” versus “you selling them”. I call bull$hit. That’s an excuse for providing or selling you garbage leads.

It’s critical that you understand the nuance between a Lead and a Prospect. Leads and prospects are ubiquitous terms used in marketing. However, when it comes to defining them, most of us get it wrong. More often than not, the words are used interchangeably, which should not be the case. So first, we should distinguish between the two, so you can approach your “lead (prospect)” generation the right way.

So what is a Sales Lead? The easiest way to get our heads around the term is that a lead is at the start of their journey. A lead is someone who may be interested in a product or service that you provide, but you have no context as to what or why. And you certainly do not know when a sale is likely to be made.

Most likely, you probably do not have any information beyond perhaps name, phone number and maybe email address. The most common type of lead they’re feeding you is someone who has clicked something somewhere and then entered their details into a data capture form. They may have done this several times on multiple forms when they were “in that fleeting moment” which motivated them to get more information at that point in time. That point in time is now gone. Usually long gone.

To sum it up: A lead is a person who has provided at least some basic information, at some earlier point in time that may suggest a potential interest in buying from you.

Now who is a Prospect? The main difference between a lead and a prospect is that the lead has moved beyond a one-way communication (they previously clicked on a form and submitted) and has now engaged with you on their terms. A prospect is a lead that has taken action right now…they are in the moment right now…they have everything they need to make the purchase (banking info) right now - which suggests that the “lead” has real potential to BUY from you right now. This is when a lead actually becomes a prospect. No selling involved. You are facilitating and guiding their purchase.

A prospect is a lead that has picked up their phone and dialed YOU - looking to buy (get more info) right now.

So:

· Do you want Leads or do you want Prospects?

· Do you want to make hundreds of calls a day, hounding people trying to reach them multiple times all to no avail or do you only want to talk to people that want to talk to you?

· Do you want to hunt people down at inopportune times trying to sell them FE life insurance or do you value your time and only want to talk to people that want to buy from you right now?

Send me a PM - I'll let you know where we get our prospects from...