Insurance Agent Forum

[Peelerinsurance.com]

T O B A C C O R O A D C O N M A N... focus group my arse

[myinsurebiz]

" What a joke. How many markets have you been through this year? It is funny though, because you will still get some poor fools to work under you. "

Started out in MA / MAPD - hated it. Stopped before my appointment even went through. Started creating leads / pre set appointments for the market - made ok money - but the bitching never stopped.

Tried FE - old sick people turned me off. The rates through the company I was with were not competitive - wasn't fun.

Started doing Health and Life - love it!

Health - we target 30+ healthy people / families. 24%+ commissions make it worthwhile.

Life - we target 40 to 60 with weight issues or limited health problems. Commissions are low, but can be done over the phone / net - so with gas being $4 a gallon - makes sense.

Started building my team of independents - 30 so far - going well. Goal is to be at 200 by end Q109. Will still work with independent agents needing a home. We represent 4 major health carriers - American National, Golden Rule, GTL and Imerica. We represent 2 major insurance carriers - Fidelity and GTL. We have agents contracted with just about every health and life carrier if we need to run the deal upline.

Fate reared it's head and gave me the idea to create small, individually owned and operated Insurance Sales Centers for those wanting to get into the Insurance business and wanting to create massive action and above average earnings. We developed a marketing plan and we'll test it over the next few weeks and see how it goes. Our goal of having 200+ active agents seems even more possible now with the added concept.

We are doing nothing any different than most hierarchies - except we provide more than just a solution and our methods are a little outside the box.

We'll see . . .

Tom

[robliano]

These statements in your post have me confused, they seem contradictory, maybe you didn't explain it as in depth as you should have. And I'm not being argumentative by any means, It's just unclear to me.

Originally Posted by Frank Stastny

If a new agent does not have enough training, self confidence and extreme product knowledge then all those hollow statements don't mean a damn thing.

Originally Posted by Frank Stastny

There are no "short cuts" and paying hundreds of dollars for "training" and "leads" is not going to make a new agent successful.

Originally Posted by Frank Stastny

New agents need to learn the basics, develop good communication skills and learn to read the prospect's body language.

[Peelerinsurance.com]

[quote=myinsurebiz;89310

Started doing Health and Life - love it!

We represent 4 major health carriers - American National, Golden Rule, GTL and Imerica. Tom[/quote]


Who wants to slap this groved fastball out of the park??

[Paradigm]

Interesting concept however you may run into significant problems with customer service.

My business model

In my practice I have discovered if I try to go beyond 50,000 AV a week production average I begin to have problems not in seales but in servicing clients.

The formula for this business is simple purchase 25 leads per day-approx 700.00 a week which is why most will never use the model. Sell 10% of leads avg 4,000 av per sale that equates to 50,000 AV

50,000 AV at 25% average commission = 12,500 assuming 80% persistency one will make in excess of 500,000.00 a year gross - lead expense.

Now to go bigger one will need an executive assistant who is licensed to handle the customer service side. At that level and with some automation one could do 100,000 AV a week

This business is at core a #'s game it can be labor intensive but the key is hardwork,consistency, automation and integration of high value addons like annuities, life and disability.

With their addition a 1 or 2 person deal with an executive office could do well in excess of 1M gross if not net.

These guys who try to shortcut the learning curve irk me a bit because in the end they are glorified quick buck artists. if they provide value I dont have aproblem. Remember you can have anything you want in life if you help enough other people get what they want. Zig Ziglar

[patch36]

Be right back, gotta go see if there is a full moon.

Maybe this will work for some folks, but its not my cup of tea babysitting 4 agents who don't have the ambition to do what you are trying to get them to do, on their own.

I like to think what we do is more client oriented than a boiler room atmosphere and attitude about sales. I hate MLM. If I wanted to sell Amway, thats what I would be doing. Because some of us have an FMO between us and the company does not make it MLM.

Good luck with your scheme, but I find it lacking. Selling insurance for the long term is about client relationships, and that is hard to create in a call center.

[Peelerinsurance.com]

Originally Posted by Paradigm

Interesting concept however you may run into significant problems with customer service.

My business model

In my practice I have discovered if I try to go beyond 50,000 AV a week production average I begin to have problems not in seales but in servicing clients.

The formula for this business is simple purchase 25 leads per day-approx 700.00 a week which is why most will never use the model. Sell 10% of leads avg 4,000 av per sale that equates to 50,000 AV

50,000 AV at 25% average commission = 12,500 assuming 80% persistency one will make in excess of 500,000.00 a year gross - lead expense.

Now to go bigger one will need an executive assistant who is licensed to handle the customer service side. At that level and with some automation one could do 100,000 AV a week

This business is at core a #'s game it can be labor intensive but the key is hardwork,consistency, automation and integration of high value addons like annuities, life and disability.

With their addition a 1 or 2 person deal with an executive office could do well in excess of 1M gross if not net.

These guys who try to shortcut the learning curve irk me a bit because in the end they are glorified quick buck artists. if they provide value I dont have aproblem. Remember you can have anything you want in life if you help enough other people get what they want. Zig Ziglar

good biz model and well said

[Paradigm]

This business is not terribly difficult, but the average agent makes 50k a year because he will not invest in his business.

My closing ratio on leads i see in person is 95%. I see less and less people in person however and I am automating the business and will get an office to have clients come to me to leverage time and create financial planning cross sale opprotunity.

Why wont agents spend 700 a week on leads? The reason is they look at the business all wrong they look at it as a job

The secret is this gradually invest more and more by this formula

50% living expenses and investments

25% marketing and business development

25% taxes

Run your business like a business and an agent of average ability will be a millionaire in 3-5 years

Cheers

[Expat]

TXIns
Peeler
RobLiano
L Gilmore
Frank Stasney
Patch36
Healthagent
DJS
SAI.

What a bunch of crybaby's.
Here we have a guy with one weeks training. One whole month of experience. You are all just pissed off because in a few more months, he will be a Bazillionaire and you will all be stuck writing insurance.
Definitely sour grapes.
Of course he has a major line of bull$hit and obviously has a lot of time on his hands. Maybe we should all ask for his advice and them we can all become rich

[Peelerinsurance.com]

Originally Posted by Expat

TXIns
Peeler
RobLiano
L Gilmore
Frank Stasney
Patch36
Healthagent
DJS
SAI.

What a bunch of crybaby's.
Here we have a guy with one weeks training. One whole month of experience. You are all just pissed off because in a few more months, he will be a Bazillionaire and you will all be stuck writing insurance.
Definitely sour grapes.
Of course he has a major line of bull and obviously has a lot of time on his hands. Maybe we should all ask for his advice and them we can all become rich

when does your green card expire??

[Paradigm]

Probably doesnt have a greencard he just swam the pond lol

[Peelerinsurance.com]

Originally Posted by Paradigm

probably doesnt have a greencard he just swam the pond lol

no... thats what my wife did

[myinsurebiz]

" Good luck with your scheme, but I find it lacking. Selling insurance for the long term is about client relationships, and that is hard to create in a call center. "

We're just selling simple issue Whole Life and Term w/ ROP - it's not rocket science.

Learning curve is minimal.

Product line is streamlined.

We target a market that is begging for attention. It works - we've seen it happen in the last month. 30 new agents - 24 never in the biz. Gross AP is right at $1000 per agent average each week.

This is how simple it is after the CSR has done their job:

Agent: Ms. Jones - this is Tom with "The Insurance" - I spoke to Megan ( CSR ) and she said you are looking for life insurance protection - Ms. Jones - were you looking for coverage on yourself, your family or another loved one?

Client: I need some life insurance on my husband.

Agent: OK - I'm sure I can help. I see that you live in Atlanta, Georgia - been there long?

Client: About 30 years.

Agent: Wow - that's a long time. OK - let's see what we can get your husband qualified for today . . .

At this point you already had the info from Megan and the quote was already ready - just verify a few points.

Agent: Ok Ms. Jones - he does qualify for a few different plans. A plan with $25,000 in protection will be only $98 a month for a Whole Life policy or a plan with $100,000 in protection is only $76 a month for a 30 Year Term policy with ROP - let explain the difference and then you decide which is best for you and your husband.

The Whole Life plan is permanent protection. Your rates never increase and your benefits never decrease. Your policy can build cash value. When your husband passes - his policy will pay his beneficiary - which is you I imagine - at least $25,000 or maybe more depending on how long the policy was in force. He will pay on this plan for his "whole life" and it's only $98 monthly.

If you need a greater amount of immediate protection, but still want to have enough money to pay your husband's Funeral Expenses or Final Expenses - you can get a $100,000 30 Year Term policy with ROP for only $76 a month. This plan gives him greater coverage, but it's not permanent protection because the policy will expire in 30 years. BUT - when it does expire - your husband will receive a cash refund for every dollar paid into the plan over those 30 years. These funds can go towards his Final Expenses. If he passes before the term expires - his beneficiary would receive the full face amount of $100,000 - which leaves a little extra for the hard times.

With either plan - your family is protected it just depends on which one feels right.

Which plan would your husband want to leave to you when his number is called Ms. Jones - the Whole Life Plan or the Term w/ROP?

Client: I'd like the Whole Life Plan.

Agent: Excellent choice. We'll set it up so the premium is automatically paid by your bank each month. Which bank do you use? Look at the bottom of your check - give me the routing number - it's the string of numbers on the left side and has 9 digits. Ok - now - what is your account number - it is to the right of the routing number. Thanks!

The initial withdrawal of $98 will be the day your policy is issued, which is usually less than a week. For all future payments - what day each month do you want your bank to pay your premium payment? Ok - the 3rd it is.

Since you will be the owner and beneficiary of your husbands plan, we need to speak to him to verify a little information - could you please pass him the phone.

1) Sure.

2) He just left to go to the store.

Agent: That's ok - it won't take but a minute - what's his cell # and I'll 3 way him in - won't take but a sec . . .

Close it up - move onto the next lead or stand by for a live transfer. It's easy if the CSR does their job.

Anyway - you get the idea. Not much to explain or go over with simple issue life. The hardest part is qualifying the lead and verifying that the client truly wants coverage. All this is done by the CSR.

Wam Bam Thank You Mam!

You gave the client what they were seeking and closed a sale at the same time . . .

Tom

[Paradigm]

That part sounds like a good model due to simplicity of product and execution. What carriers are u using for life?

[GreenSky]

Where do I see a question about health? Perhaps he qualifies for a better price plan. What happens then?

Do you quote the proper product or lose the case in 2 months when they get smarter?

Rick

[Peelerinsurance.com]

Originally Posted by GreenSky

Where do I see a question about health? Perhaps he qualifies for a better price plan. What happens then?

Do you quote the proper product or lose the case in 2 months when they get smarter?

Rick

He has stated in prior post that is not their game... so... he looses it and BAM!!! chargeback... remember, insurance is MLM.....just slam 'em against the wall amd move on, u can outrun ALL chargebacks....according to the tobacco road conman... all advances all the time

[LGilmore]

Myinsure.. I gotta ask why are you trying so f in g hard to convince anybody that your plan will work... Is that for us or you?

Go do your thing, make money and find your happiness... quit trying to make everybody else a believer. Most of us know of guys like you who have attempted this.. most of us don't like that kind of guy.

You're trying too hard and that makes it suspect. Most people with successful programs may mention it in passing.. but they don't spend even a post or two defending what they do... They just do it... you've been going on for days now... maybe you should ask yourself why?

[robliano]

Descriptively "call center" and "agency" are really two different terms. At least on the forum.

"call center" denotes a churn and burn mentality while an insurance "agency" is generally perceived as a group of solid, ethical agents.

Agencies can make money with a good business model, the call centers are the ones that receive and generally deserve the bad reputation.

Either way, let the guy implode or succeed. It doesn't effect us unless we let it.

[patch36]

He is selling a system and we are the audience.

Go do your thing, make money and find your happiness... quit trying to make everybody else a believer. Most of us know of guys like you who have attempted this.. most of us don't like that kind of guy.

Well said LGilmore.

[TXINSURANCE]

The people occupying the Call Center seats are independent insurance agents - if they don't produce - just replace them.

They are 1099 Independent Contractors - they're not employees. They know the office schedule and production quotas in order to have a seat in the Call Center.

This is illegal per IRS rules. Did you run this past your Attorney?

There is a test per IRS guidelines such as setting schedule and using your equipment - they are W2 employees. Now that being said do I know agencies that pay everyone 1099 - yes, are they all illegal operations - YES.

I have said this for years - if it was legal to pay in house people 1099, WALMART would be doing it.

You have a lot more homework to do my friend.