Insurance Agent Forum

[ims01]

TheInsuranceLady,

There has been a lot of good advise offered to you. What you sell depends a lot on what you like to sell. Both health and life sales can be very profitable and often one leads to the other.

Closing is a skill that can be acquired with coaching and practice. There will be a cost to gaining that skill in unclosed leads. A good GA knows that they will not make money until the agent makes money. I have found that giving the new agent a script is not enough. I get on the phone with them and let them hear me close a deal or two. Then I listen to them and give them tips.

One thing for sure is that I feel generating leads is a waste of time. I prefer to spend all my time selling. Eventually, you can get to the point where you can afford to buy 15 life leads per week and close 6 and place 4. That will net you between $2000 and $3,500/week.

Best of luck to you,

[healthagent]

So you're telling me you have agents who are getting 15 leads a week and making six figures?

[moonlightandmargaritas]

Originally Posted by ims01

One thing for sure is that I feel generating leads is a waste of time. I prefer to spend all my time selling. Eventually, you can get to the point where you can afford to buy 15 life leads per week and close 6 and place 4. That will net you between $2000 and $3,500/week.

Ed, color me suspicious, but these numbers don't seem realistic. May I ask how many agents you currently have attaining this on a regular basis?

In the interest of full disclosure and transparency, do you also sell leads?

[healthagent]

I think in the interest of full disclosure Ed seems to be interested in a bit of recruiting. Maybe he thinks a few of us were born yesterday.

He's a bit of reality:

15 leads and 20% answer
3 leads answer
Deals = 0

Sound more like it?

[moonlightandmargaritas]

Originally Posted by healthagent

I think in the interest of full disclosure Ed seems to be interested in a bit of recruiting. Maybe he thinks a few of us were born yesterday.

He's a bit of reality:

15 leads and 20% answer
3 leads answer
Deals = 0

Sound more like it?

Yes, it does.

However if you are a lead vendor, you make money sale or no sale. Good position to be in.

[healthagent]

Or if you're recruiting mass numbers of agents who actually believe they can just buy leads and sell online you'll also make money. I'd ask for some type of proof of this "15 leads returning $2,500" but why waste my time.

[James]

Originally Posted by padthaiforlunch

How about a lead in with DI? Has anyone tried that?

"Hi, this is Pad with American Liberty Financial. I specialize in protecting families from financial disaster. If you were hurt tomorrow, how long can you afford to go without a paycheck?"

"Risk is not about losing money, it’s about losing opportunity to make money." Truth 7 Home Page*-*John Girouard - The Money Mythbuster

I switch it up as in my "Change Up" with DI, if I'm out and about in familiar territory I'll switch over to DI at times.

[joshril]

This is a great thread with great recommendations.

But... the bottom line is selling insurance is NOT about a magic script. Yes, you have to have some level of proficency on the phone but it is all numbers.

If I'm the best agent in the world and have the best phone script ever, but make only 10 or 20 calls per day I'm going to go broke.

It's all about activity. Looking for the "magic" lead source or the "perfect" phone script is a common mistake of new/lazy agents.

The "magic" to selling insurance is literally making 200 dials per day when you are starting out and building up your pipeline. It doesn't really matter what you say. Yes, I agree close-ended questions (those that generate a "yes" or a "no") should not be used, but it is all about picking up the phone.

We, as agents, need to stop wasting time analyzing everything and just get to work. Even if your approach isn't perfect, practice is the only thing that will improve it. You will learn as you go along what works with your personality type.

Your first 2-5 years in this business are grueling if you want to succeed. There is never a substitute for hard work.

For those that still want the magic phone script... "I'll take a Big Mac with extra onions please..."

[SJinaki]

"what you are currently doing"...maybe let them know what you can offer as opposed to asking what they have now.

[Bob_The_Insurance_Guy]

Originally Posted by padthaiforlunch

Now then, does anyone have a cold call lead in for life?

Mr. Johnson, this is Bob Levine. I'm an insurance agent. Just one quick question, in the past 12 months, has anyone sat down with you, and confirmed that the amount of life insurance you have is enough?

Yeah, no, I'm not interested.

(That's not what I'm asking.) In all due respect, sir. Has a Professional sat down with you, looked at your policy, explained it to you, and said, "Yep, you're good to go!" All I'm asking is for enough time to answer your questions, and lend an impartial opinion. I'll only stay long enough to answer your questions, and won't even bother you for a cup of coffee, fair enough?

The call should, in 15 seconds or less, answer:

• Who you are
• Why you are calling
• Why they should stay on the phone to talk to you

After the brush-off, you should:

• Clarify your position
• Ask for permission/time
• Get a "fairness" reading

[Reuben]

Originally Posted by cadylou

Ok, what about saying something like - I'm calling to see if you "qualify" for our exclusive programs. Not everyone does, and I don't want to waste your time. Can you answer just a few questions? we'll know quickly whether or not you're a candidate. If not, I'll be on to my next call & the luckiy recipient!

"Exclusive Program"?

Are you serious?

Exclusive to whom?

You?

Surely not the business.

On the whole I do agree with the modifications to the script, I'm going to adapt this myself and use it for my cold calling, I'm doing B2B in person prospecting.

I'm saddled with a little thing called "compliance" here. Were I to mention words like "exclusive" "30-40% discount.." during a pitch, and failed to deliver, there'd be hell to pay with my GA and with MassMutual, as well as the other carriers that I have.

[Delta76]

I'm saddled with a little thing called "compliance" here. Were I to mention words like "exclusive" "30-40% discount.." during a pitch, and failed to deliver, there'd be hell to pay with my GA and with MassMutual, as well as the other carriers that I have.

PM me if you want help, I telemarket just about everyday and I can't see why my script wouldn't be compliance approved. Also, why does Mass care about you calling for health insurance. One other Mass producer I know set up a seperate business for calling on health insurance and Mass told him he doesn't have to run any of that through compliance as it's an OBA. Even when working with a B/D, I've never run a script through compliance.

[BiggitySwat]

Originally Posted by Delta76

PM me if you want help, I telemarket just about everyday and I can't see why my script wouldn't be compliance approved. Also, why does Mass care about you calling for health insurance. One other Mass producer I know set up a seperate business for calling on health insurance and Mass told him he doesn't have to run any of that through compliance as it's an OBA. Even when working with a B/D, I've never run a script through compliance.

You mean you didn't run the script through the broker-dealer CCO for insurance or securities?

[Delta76]

Yes

[SportsNut]

Originally Posted by padthaiforlunch

Now then, does anyone have a cold call lead in for life?

Hi Mr Biz-owner... my name is Pad and I am calling to see if you have taken advantage of the new lower cost of term life insurance within the past two years...? Yes/No..

Term life is one of the few products that have significantly dropped in price due to competition and the increased life span of the avg American today. If I can gather a couple of pieces of info from you, I will be glad to fax or email a no-cost quote to you. What is your DOB...? S/NS, Ht/Wt, Face Amt of current Life Ins..? blah, blah...

[padthaiforlunch]

Well there you go. Just make a sticky of your post for all new kids who are sure to come along.

Originally Posted by SportsNut