Working Your Book

[smokin goose]

Sorry. Not an FE agent. But I did write my first "FE" policy in 1994, my last one yesterday. I work the hell out of my book. That is where the bulk of my sales come from in one form or another. I just started buying Internet "FE" leads this year to try them out. Other than that I do not buy leads. One of my forum buddy shares some internet leads with me also. I cross sell my "FE" clients more than my Traditional clients. I get a steady flow of in bound calls many of which are people asking for insurance or asking me to call someone to help them with insurance. I do not do MedSups, but I should, I mostly cross sell Life insurance products to their families. One way I do that is I call the beneficiary and contingent beneficiaries to give them my contact information so that they know who to call when the insured dies. Many times that is the adult married kids which leads to a term, Permanent or child policy. I also get a lot of request for quotes from those people to quote their in-laws. Then I repeat. I use the "oh by the way" a lot. Think Columbo. "Oh by the way, If you know anyone that thinks they are uninsurable because of Cancer, Dialysis or Diabetes let them know that I have great options. Seems like we all know someone that has had something..." "oh by the way, We have some great child policies starting at $4. a month and family plans for a few dollars more" Oh by the way, a lot of people bought a policy from some guy that showed up at their door or off the TV and think they know what they have, but really do not know. Because you are my client I will offer to do a summary for any of your family, but they have to let me know you referred them" I then formally or informally AOR them, I poison the well then cross sell their family and friends. Doing a simple beneficiary update is an easy way to gain a client. The case I wrote yesterday: Small deal ($5k on a 78yo) But I have 4 daughters (FE types) to call. The fifth I talked to yesterday. She and her husband both college grads own a small business in So Cal. They are in their 50s. They both have term plans that are about to term out. I am quoting him $1,000,000.00 and her $500,000.00 also she is buying a small family plan for her single mom daughter. And a couple child policies on the other grandkids. Of course, I will need to talk to those Gr'kids parents..... The 81 yr old I wrote last week: I got this email from the owner/son this morning, he is in his 60s "Lee, Go ahead and underwrite $250K." on the wife's quote. Still waiting for a decision on his quote and his son's $1,000,000 30 year term quote. Another passive way I prospect my book is with company notices. Example, United Heritage sends the agent a copy of every piece of mail they send my clients. I jot a note at the bottom of my copy about reviewing their plan and enclose a couple flyers like MoO child policies. The child policies have been a good lead generator. Thank you Boman for the idea. Again I do not write "FE" only, I do not work the cat pee market anymore and I definitely do not work as hard as you younger guys. But I do write a bit of "FE" as a dabbler and my current lead cost is maybe $200 on a high month. Working your book could be something you add to what your doing and only take a couple hours a week. Many of my clients were someone else's customers before they became my clients. EDIT: If I wanted to learn to cross sell FE client MedSups I thing Newby would be my first stop.

Thank you for the post.

Yes Scott, JD and SAI have all helped me with learning med supps.

I just never understood how you guys get to the family members for additional sales.

 

[rousemark]

Thank you for the post.

Yes Scott, JD and SAI have all helped me with learning med supps.

I just never understood how you guys get to the family members for additional sales.

In the old days when I actually worked, I worked it in reverse.. I wrote the med supp first and then worked them for FE, LTC, annuities, etc. I also asked about their children and grandchildren and called on them for Life and supplemental health.. In the old days, it was called "endless chain prospecting." You tried to get referrals to three other people fro everyone you talked with whether you sold them or not.

I have referrals to a couple of dozen now that I might get around to calling on next month.. This week, I am cleaning out the garage and outbuilding.. If I get that done and feel ambitious, I may even work in the yard.. Naw,, ain't gonna happen..

 

[Norwayguy]

Sorry.

Not an FE agent. But I did write my first "FE" policy in 1994, my last one yesterday.

I work the hell out of my book. That is where the bulk of my sales come from in one form or another. I just started buying Internet "FE" leads this year to try them out. Other than that I do not buy leads. One of my forum buddy shares some internet leads with me also. I cross sell my "FE" clients more than my Traditional clients. I get a steady flow of in bound calls many of which are people asking for insurance or asking me to call someone to help them with insurance.
.

So forum buddies is what you call it.... Speaking of which I got a other CA lead yesterday... Mr Suck MyD*** well you get the idea requested a quote oh well.

 

[WinoBlues]

In the old days when I actually worked, I worked it in reverse.. I wrote the med supp first and then worked them for FE, LTC, annuities, etc. I also asked about their children and grandchildren and called on them for Life and supplemental health.. In the old days, it was called "endless chain prospecting." You tried to get referrals to three other people fro everyone you talked with whether you sold them or not.

I have referrals to a couple of dozen now that I might get around to calling on next month.. This week, I am cleaning out the garage and outbuilding.. If I get that done and feel ambitious, I may even work in the yard.. Naw,, ain't gonna happen..

That is the same way i was taught. Currently in pending i have a two GULs, a Child policy and an FE policy from the same extended family I have written for over twenty years. Counting those four I have written 7 policies in that family this year. every one called me. I have to be over 30 cases with that family. only two lapses, which I rewrote. All from a FE policy I wrote about 25 years ago on a non english speaking Hmong woman. Her little girl translated. Last year I wrote that girl, her husband, her two children, her mother in law, her sister in law and husband and that brother in laws mother. Old school is old fashion and probably does not work as well as new school. But it does OK.

Side note: I also wrote a half dozen agents and their families.

I am at breakfast and thinking about cleaning my garage today also. Or going to a movie.

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So forum buddies is what you call it.... Speaking of which I got a other CA lead yesterday... Mr Suck MyD*** well you get the idea requested a quote oh well.

Send it over. Hope this one is not another 80 year old quadriplegic. He died by the way.

 

[Norwayguy]

That is the same way i was taught. Currently in pending i have a two GULs, a Child policy and an FE policy from the same extended family I have written for over twenty years. Counting those four I have written 7 policies in that family this year. every one called me. I have to be over 30 cases with that family. only two lapses, which I rewrote. All from a FE policy I wrote about 25 years ago on a non english speaking Hmong woman. Her little girl translated. Last year I wrote that girl, her husband, her two children, her mother in law, her sister in law and husband and that brother in laws mother. Old school is old fashion and probably does not work as well as new school. But it does OK.

Side note: I also wrote a half dozen agents and their families.

I am at breakfast and thinking about cleaning my garage today also. Or going to a movie.

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Send it over. Hope this one is not another 80 year old quadriplegic. He died by the way.

It was an obvious bogus quote request with all bogus info. Sorry to here he died.

 

[rousemark]

It was an obvious bogus quote request with all bogus info. Sorry to here he died.

So we have a totally bogus suspect that submitted all bogus information and he died before Wino could write him? RIP..

 

[WinoBlues]

It was an obvious bogus quote request with all bogus info. Sorry to here he died.

Yeah, Inspirational guy. Quad since age 40. Married for 40 years to the nurse he met after the accident. Successful CPA business owner. When I wrote the wife we went by his life expectancy not hers. Cool old guy.

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So we have a totally bogus suspect that submitted all bogus information and he died before Wino could write him? RIP..

No, I think he was talking about the current lead. I wrote the other one last year.

 

[HoosierLife]

Sorry. Not an FE agent. But I did write my first "FE" policy in 1994, my last one yesterday. I work the hell out of my book. That is where the bulk of my sales come from in one form or another. I just started buying Internet "FE" leads this year to try them out. Other than that I do not buy leads. One of my forum buddy shares some internet leads with me also. I cross sell my "FE" clients more than my Traditional clients. I get a steady flow of in bound calls many of which are people asking for insurance or asking me to call someone to help them with insurance. I do not do MedSups, but I should, I mostly cross sell Life insurance products to their families. One way I do that is I call the beneficiary and contingent beneficiaries to give them my contact information so that they know who to call when the insured dies. Many times that is the adult married kids which leads to a term, Permanent or child policy. I also get a lot of request for quotes from those people to quote their in-laws. Then I repeat. I use the "oh by the way" a lot. Think Columbo. "Oh by the way, If you know anyone that thinks they are uninsurable because of Cancer, Dialysis or Diabetes let them know that I have great options. Seems like we all know someone that has had something..." "oh by the way, We have some great child policies starting at $4. a month and family plans for a few dollars more" Oh by the way, a lot of people bought a policy from some guy that showed up at their door or off the TV and think they know what they have, but really do not know. Because you are my client I will offer to do a summary for any of your family, but they have to let me know you referred them" I then formally or informally AOR them, I poison the well then cross sell their family and friends. Doing a simple beneficiary update is an easy way to gain a client. The case I wrote yesterday: Small deal ($5k on a 78yo) But I have 4 daughters (FE types) to call. The fifth I talked to yesterday. She and her husband both college grads own a small business in So Cal. They are in their 50s. They both have term plans that are about to term out. I am quoting him $1,000,000.00 and her $500,000.00 also she is buying a small family plan for her single mom daughter. And a couple child policies on the other grandkids. Of course, I will need to talk to those Gr'kids parents..... The 81 yr old I wrote last week: I got this email from the owner/son this morning, he is in his 60s "Lee, Go ahead and underwrite $250K." on the wife's quote. Still waiting for a decision on his quote and his son's $1,000,000 30 year term quote. Another passive way I prospect my book is with company notices. Example, United Heritage sends the agent a copy of every piece of mail they send my clients. I jot a note at the bottom of my copy about reviewing their plan and enclose a couple flyers like MoO child policies. The child policies have been a good lead generator. Thank you Boman for the idea. Again I do not write "FE" only, I do not work the cat pee market anymore and I definitely do not work as hard as you younger guys. But I do write a bit of "FE" as a dabbler and my current lead cost is maybe $200 on a high month. Working your book could be something you add to what your doing and only take a couple hours a week. Many of my clients were someone else's customers before they became my clients. EDIT: If I wanted to learn to cross sell FE client MedSups I thing Newby would be my first stop.

See now that seems like a lot of work to me lol.

 

[FEsalesNC]

No joke. Offering that MoO and Gerber child policy has generated $1,000s of dollars for me. and I have actually only sold a few of the actual plans. I would give them away if I could.

Can you guys elaborate on what youre doing here to lead to sales?

Also if I'm contracted for Gerber GI for seniors does that mean I can write Gerber child policies?

Thanks

 

[WinoBlues]

Can you guys elaborate on what youre doing here to lead to sales?

Also if I'm contracted for Gerber GI for seniors does that mean I can write Gerber child policies?

Thanks

Ben is the one that reminded me of these. Back when I started. Think Tablets were really tablets, as in stone tablets. John Hancock would have us run baby announcement leads. We would offer these free little silver baby spoons. Get in do a fact find of sorts and fill any need we found. I do not really care about the child policy as much as I want the client family.

I simply include a flyer in that mail I send or like today I was talking to a new beneficiary and I said Oh by the way, if you know anyone with a new baby or grandchild I have some great family plans and a child policy that starts as low as $4. I already knew she had a new grandchild from my conversation with the insured.