Best Bang for the Buck?

zmazmzm · 02-06-2009, 08:31 PM

I run pre set mortgage protection leads, but have 2-4 hours of down time each day. I'm new to the business, so I was wondering...For my few extra hours per day, what's the most fruitfull thing I could do? I mean, what type of insurance should I learn to market and sell?
What type of commissions should I contract for?
Who should I contract with?
What will produce the best income per hour invested?
How should I market it with my limited time & funds?

My 2 strikes against me are the few hours that I have to invest and my lack of knowledge. This is important to me as I really need to produce more income due to the financial hole I've found myself in.

Yes, I do intend to do what's best for the client. I just want to know what product and what company that has that product would be given my situation.

Any and all well intended input would be greatly appreciated!!!

Also, because of the hours involved, please advise if theses companies have the over the computer apps that I'm reading about on here. Seems as if they'd be a real time saver.

TRK3031962 · 02-07-2009, 12:19 PM

Have you tried final expense? Since it is still in the life field, maybe this might be for you. It usually pays pretty good and you might find it actually pays better than the MP. As for the commissions, of course you should get the highest you can get. It should be over 100%. That is unless someone is supplying you with leads, then you can expect somewhere around 70%. As you can see, getting your own leads is much better for you if you can do that. Give me a call and I think I can help you out in whatever niche you're looking for, or at least get you pointed in the right direction.

Alston · 02-07-2009, 02:23 PM

You may also want to look into disability insurance as well. A single person may not care about mortgage life insurance, but may care about a DI package that will cover his mortgage and other bills.

Of course families are also, or should also be, concerned about the financial impact of the disability of a breadwinner.

zmazmzm · 02-07-2009, 07:16 PM

Originally Posted by TRK3031962

Have you tried final expense? Since it is still in the life field, maybe this might be for you. It usually pays pretty good and you might find it actually pays better than the MP. As for the commissions, of course you should get the highest you can get. It should be over 100%. That is unless someone is supplying you with leads, then you can expect somewhere around 70%. As you can see, getting your own leads is much better for you if you can do that. Give me a call and I think I can help you out in whatever niche you're looking for, or at least get you pointed in the right direction.

I'm so new, I haven't tried anything yet. That's why I'd really like to know what you folks thing. Based on what I've read here, FE would be a good one. With a lead situation, my one concern is the lead being stale. What I mean is, If I bought a lead, I may not be able to get to them for a week. By the time a week rolls around, 100000 other agents have already called them, right? Would it be feasible to get a lead and call them to see them the same day? Knowing that about the leads, would it be better for me to just door knock in predominately senior areas when I have those free hours? I will be giving you a call soon. Thanks!
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Originally Posted by Alston

You may also want to look into disability insurance as well. A single person may not care about mortgage life insurance, but may care about a DI package that will cover his mortgage and other bills.

Of course families are also, or should also be, concerned about the financial impact of the disability of a breadwinner.

I'm very interested in that. In fact, some of the people I meet with on the MP appointments are interested in that and only that. Prob is, the carrier I'm appointed with only allows the DI to be a rider, max of 2% of the face. So...If they want the DI, they have to have that face amount up there and pay for it at the same time as the DI rider. Who has a good DI plan? Simple underwriting, easy apps, good commissions, and good plans/coverages for the people I see? How would you market this, keeping in mind my limited hours and the lead situation as mentioned above? Thanks for your help!!

snowman · 02-08-2009, 03:06 AM

Originally Posted by zmazmzm

I run pre set mortgage protection leads, but have 2-4 hours of down time each day.
My 2 strikes against me are the few hours that I have to invest and my lack of knowledge.

You only have 3 ways to increase your income.

1. Make more sales to existing clients.
2. Make more sales to new clients
3. Make larger sales.
Is your down time in the office/field.

If your down time is in the office start making cold calls on the phone to
1. old leads that weren't sold -try for another MP appt.
2. cross references on the street you just had a sale on. try for an MP appt.
3. old clients you've already sold. - Go for needs analysis to find out their true insurance need.

If it's in the field start canvassing the neighborhood your already in. Especially if you've sold some just then. The best time to strike is when the iron is hot. You;ve got a new client, money in your pocket and should have enough confidence from it to chew nails at that point. Plus the neighbors will usually all know your new clients. Now you've got a natural in. Go up, knock on the door introduce yourself, ask them if they've got the new Mortgage Redemption policy or whatever. They won't. Even if they do tell them I'm talking about the brand new one that's just become available. Ask if you can come in. If they say yes step in and ask is your spouse here" If they say know it's a one-leg and there's no chance of a sale so find out when the spouse will be home and make an app't. Always answer a question with a question.

Also, because of the hours involved, please advise if theses companies have the over the computer apps that I'm reading about on here. Seems as if they'd be a real time saver.

They're good if you have your own laptop, modem and sw. If not you can still some business over the phone and in todays world you can fax/scan it in. I use a scanner when I can. Hope this helps

If you are interested in FE I know Todd King can steer you in the right direction as well as can some others like Hoosier.