Insurance Agent Forum

This post is mostly for new people - Just a story about something that happened to me. Not sure what will come of it, but it looks positive.

I'm very new to the business as well, but have been plugging away, getting some telemarketed leads, and been working a ton of hours learning this business. (Last week I think I worked about 60)

I received a lead for a lady who owns a 1800 GOT JUNK franchise. She and her husband own it, and they have 6 employees all between the ages of 23-27 years old. They had been insured with M-Care, (which is now Blue Care Network) and they were paying $206/month per employee. Obviously, for someone who is 23 years old, and healthy, that is a rediculous rate!

I talked with her initially, and she was interested in getting some more info from me. She was meeting with her "current insurance guy" the next day, so I told her to see what he came up with, and call me and we would set up a time to compare the plans to see what would work best for her. I did this so the other "insurance guy" couldn't do the same to my plans. Seems to work best when you are the last guy to meet with/talk to a prospect.

After this phone call, I didn't hear from her. This past Wednesday, I sent her an email, just asking where she was in the process. She wrote me back, and said "thanks, but our insurance guy gave us a really good deal and we are going with his quote. Contact me next May."

Now, at this point, I decided to email her back just for giggles. I had nothing to lose - I wrote her and basically said the following:

1: What company did you go with?
2: Did your insurance guy offer you a group plan with 1 company, or did he give you options for individual plans as well?
3: I explained the difference in group plan underwriting and individual underwriting and how it has an effect on premiums.
4: I told her that a 27 year old male who is healthy could be paying as little as $85.00/month.
5: I simply said that I'm sure her current guy did a great job, however I would have loved the opportunity to work with her as well, and if she wanted to see how she could be paying less for insurance, give me a call.

I received an email this morning asking if I could meet with her on Friday morning.

I'm meeting with her at 9:00am and have the chance to write 7 total policies.

Don't give up immediately on prospects. At least write them an email (if you haven't had a chance to present to them, that is) and give them the exact reasons WHY they should talk to you. This lady is paying way too much for her health insurance, and I'm confident I can help her.

Obviously don't spend time doing this to everyone. Do this for prospects you really feel strongly that you can help, and that it's worth it to spend some extra time as well.

Hope this helps some of the other new people on the board!

[LGilmore]

Nate,

In some states they don't let you list bill a group with individual policies. Also individual policies count as income to an employee if the employer picks up the tab. Please make sure when you getting something for someone for less, you aren't creating a bigger problem elsewhere.

What state are you in?? I'm in Michigan - this is allowed. I know my business and do research before I present to a client. I emailed my GA BEFORE I even responded to her to find out how to approach a group such as hers. Geeze - I was simply posting about a success that I had. No need to attack me for it and assume that I don't know what I'm doing, and am setting my clients up to get screwed..........