The Secret To Making Money in Final Expense

[ronmelton3]

Is it just me or does Lincoln Heritage have the highest rates out there?
Baltimore Life sells over the phone and there rates are much lower.

 

[Newby]

Is it just me or does Lincoln Heritage have the highest rates out there?
Baltimore Life sells over the phone and there rates are much lower.

It's not just you. Lincoln Heritage is very high on their face to face product. BUT, they have a direct to the public product where they advertise that they have the lowest rates they can offer anywhere and it's because they cut out the in-home salesman (insurance agent) and guess what? Those rates are even higher...MUCH higher!

 

[jody108]

It's not just you. Lincoln Heritage is very high on their face to face product. BUT, they have a direct to the public product where they advertise that they have the lowest rates they can offer anywhere and it's because they cut out the in-home salesman (insurance agent) and guess what? Those rates are even higher...MUCH higher!

I found Lincoln Heritage to be very useful for certain situations.

1. They will write up to age 85 and this is useful for the modified product. Many companies stop at 80 with a modified.

2. They take credit cards ... so you don't lose the sale if they won't give you their bank information or don't have one ... they even take many Social Security debit cards.

3. They have Funeral Consumer Guardian Society built into their policies. FCG will do all the funeral arrangements for your family and they will negotiate the cost of the funeral (sometimes saving the clients family up to 40%).

I will use the FCG pitch when selling someone that can only afford a $3000 - $5000 policy ... it helps justify the price and helps build value ... they are getting more than $3k or $5k.

4. They have a 20pay that I use for people under the age of 50 .... especially when they are more interested in a burial policy than a life insurance policy. Which, are the same ... it's just how you present it.

Also, LH provides a steady flow of leads ... but I can't stomach paying for them. I'd rather generate my own.

 

[Newby]

I'm not saying there isn't a place for Lincoln Heritage. But I don 't like that they do mailers saying you will save money if you cut out the agent. That's bad business and in their case it's also a lie.

 

[theinsuranceman]

Lincoln Heritage also has a Guaranteed Issue starting at age ZERO! Age range for GI is 0-85. What other Co. can match this? (For NC). Anyone in NC who needs a contract can contact me. 252-292-3350...Greg
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I found Lincoln Heritage to be very useful for certain situations.

1. They will write up to age 85 and this is useful for the modified product. Many companies stop at 80 with a modified.

2. They take credit cards ... so you don't lose the sale if they won't give you their bank information or don't have one ... they even take many Social Security debit cards.

3. They have Funeral Consumer Guardian Society built into their policies. FCG will do all the funeral arrangements for your family and they will negotiate the cost of the funeral (sometimes saving the clients family up to 40%).

I will use the FCG pitch when selling someone that can only afford a $3000 - $5000 policy ... it helps justify the price and helps build value ... they are getting more than $3k or $5k.

4. They have a 20pay that I use for people under the age of 50 .... especially when they are more interested in a burial policy than a life insurance policy. Which, are the same ... it's just how you present it.

Also, LH provides a steady flow of leads ... but I can't stomach paying for them. I'd rather generate my own.

Can you generate FE leads cheaper than they can? If so share the info with us please.

 

[PowerPlayer]

Re: The Real Secret is Referrals

Hello Hoosier Daddy,

Are you from Indiana or just a fan of the play on words?

The secret to a steady flow of leads is referrals. You have to ask for referrals but I'm not talking about a couple people. I'm talking about 50-100 per client.

The average person knows 250 people. Do you think those people need help with insurance? Of course they do, but the sale you're trying to make is not insurance.

You need to first help your clients overcome their fear of regret. They fear that they could be ridiculed or complained to from the person they referred you to.

You've been there before, right? A sales person asks you for referrals and frankly, he's so bad that you don't want to do business with him yourself.

You certainly don't want your friends calling you to complain that you gave out their phone number so you say that you can't think of anybody.

That's what's going on in their head. You have to find a way to assure your client that they will not hear complaints or ridicule from their friends after they refer you. Eliminate their fear of regret and you will get a boat load of referrals.

I can go on forever about referrals but let's keep this one short for the sake of being in a forum. You can read more of my other posts if you like as I am a preacher of referrals.

There's 2 things about getting referrals I want to share.

1. Business Development Day
2. Don't Assume.

Business Development Day

Set an appointment with your client specifically for gathering referrals and nothing more. Don't try to sneak in referrals casually at your selling appointments, although you can get a few if they come up naturally.

Set an expectation at the beginning of your very first appointment that you work on referrals and get their agreement to help you build your business UPFRONT. This is not negotiable. Confirm that they agree with your method of business and if they don't then you need to tackle that objection NOW.

Ok, so after you've helped their policy is in force and you've followed up along the way to build a deeper relationship you call to set your business development appointment. (It's no surprise because you told them at the beginning, remember?)

Don't Assume

At this meeting, you're going to ask them to take out their phone book so all the contact info is available.

Now you need to tell them this very important sentence "Don't try to assume who you think might or night not need my help, just tell me the first names that come to mind as we go through these memory joggers."

People think they "know" what their friends and family have or need when really they don't have a clue. They only thing they "know" is their fear of being ridiculed by that person for referring them to a bad salesman. Got it?

Often times, the people they fear of being ridiculed by are the BEST potential clients because they are of higher status than the client themselves.

I was going to go further into this referral process but I just scrolled up and realized how long this is getting....

This is enough for now..

Best of luck,
James Blackburn
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Hello my friends,

I started a new thread to continue my post about life insurance referrals.

You can access it at the link above

Good luck to you all,
James Blackburn

 

[wstcst1]

Re: The Real Secret is Referrals

Hello Hoosier Daddy,

Are you from Indiana or just a fan of the play on words?

The secret to a steady flow of leads is referrals. You have to ask for referrals but I'm not talking about a couple people. I'm talking about 50-100 per client.

The average person knows 250 people. Do you think those people need help with insurance? Of course they do, but the sale you're trying to make is not insurance.

You need to first help your clients overcome their fear of regret. They fear that they could be ridiculed or complained to from the person they referred you to.

You've been there before, right? A sales person asks you for referrals and frankly, he's so bad that you don't want to do business with him yourself.

You certainly don't want your friends calling you to complain that you gave out their phone number so you say that you can't think of anybody.

That's what's going on in their head. You have to find a way to assure your client that they will not hear complaints or ridicule from their friends after they refer you. Eliminate their fear of regret and you will get a boat load of referrals.

I can go on forever about referrals but let's keep this one short for the sake of being in a forum. You can read more of my other posts if you like as I am a preacher of referrals.

There's 2 things about getting referrals I want to share.

1. Business Development Day
2. Don't Assume.

Business Development Day

Set an appointment with your client specifically for gathering referrals and nothing more. Don't try to sneak in referrals casually at your selling appointments, although you can get a few if they come up naturally.

Set an expectation at the beginning of your very first appointment that you work on referrals and get their agreement to help you build your business UPFRONT. This is not negotiable. Confirm that they agree with your method of business and if they don't then you need to tackle that objection NOW.

Ok, so after you've helped their policy is in force and you've followed up along the way to build a deeper relationship you call to set your business development appointment. (It's no surprise because you told them at the beginning, remember?)

Don't Assume

At this meeting, you're going to ask them to take out their phone book so all the contact info is available.

Now you need to tell them this very important sentence "Don't try to assume who you think might or night not need my help, just tell me the first names that come to mind as we go through these memory joggers."

People think they "know" what their friends and family have or need when really they don't have a clue. They only thing they "know" is their fear of being ridiculed by that person for referring them to a bad salesman. Got it?

Often times, the people they fear of being ridiculed by are the BEST potential clients because they are of higher status than the client themselves.

I was going to go further into this referral process but I just scrolled up and realized how long this is getting....

This is enough for now..

Best of luck,
James Blackburn
- - - - - - - - - - - - - - - - - -
Hello my friends,

I started a new thread to continue my post about life insurance referrals.

You can access it at the link above

Good luck to you all,
James Blackburn

When was the last time you received 100 referalls. Why not go for a 1,000?

 

[fetam]

If we are going to keep bumping old threads, at least I'm going to bump a good one! I've had this bookmarked for a while and I read the OP every other day at least. It just seems so simple when you read the road map Travis lays out for you.

 

[jemelton]

Is this still being offered? Leads ect......

 

[Newby]

The Lincoln Heritage by phone information is GOLDEN!

Agents are CRAZY if they are still getting out there in their cars the way the Flintstones did it.