Priorities for a New Agent Starting Out

[ColdSlam49]

Im now precontract at a big insurance company and have not and probably will not recieve any real product or sales training, with little to no support(could be the office i chose). I've decided to be proactive and self start and take in all the resources I can to learn fast.

But the only question is what is the best course of action? Should i hit the phone boiler room style again, except this time to set f2f meetings?

 

[Glen Shelton]

Had my L&H less than a month and very excited but also very scared of failure. I worked in a sweat shop environment for a year prior trying to sell stocks over the phone(key word trying). As a result, i have very little sales experience aside from dialing a phone 12 hours a day, reading from a script word for word until the other person hungup. I decided to leave that environment to avoid any blemishes on my securities license and use the excuse of being a naive college grad

Im now precontract at a big insurance company and have not and probably will not recieve any real product or sales training, with little to no support(could be the office i chose). I've decided to be proactive and self start and take in all the resources I can to learn fast.

But the only question is what is the best course of action? Should i hit the phone boiler room style again, except this time to set f2f meetings?

What line of insurance are you looking at selling?

What "big insurance company" did you decide to join?

 

[ColdSlam49]

What line of insurance are you looking at selling?

What "big insurance company" did you decide to join?

Ultimately after interviewing with a few, I decided on MassMutual because their products could be brokered, which is a big reason for me in case I leave(ideally I won't but can't tell the future). The next big reason is that they seemed to be the most open to investments. These factors were important to me, enough to overlook the lack of guidance.

Among other things, most of my focus will be on life insurance.

 

[DHK]

Please start here (the sticky thread in "Getting Started Selling Insurance": http://www.insurance-forums.net/for...nsurance/guidance-new-life-agents-t29999.html

I also started at MassMutual... and I could tell from your 1st post that you were with them too.

Since you're in "pre-contract" (or do you mean 'pre-financing'?) and you're already seeing the 'warning signs'... I'd recommend reading the thread and obtaining some inexpensive, yet high quality training... and then deciding whether it would be worth it to stay or not.

In my opinion, if the office can't deliver high quality training... they aren't good enough to earn overrides on your production.

And don't tell me that they 'outsource' their training to LEAP systems. There should be some quality in-house training that doesn't cost you $2,500/year + $700 per training session visit from a national LEAP trainer. LEAP is good, but way too complex for the new agent.

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BTW, I did get some product training at MassMutual. They primarily talked about what you could do, but they never talked about WHY someone would want to do it, or what the recommending agent was trying to accomplish.

I learned some of the 'why' from LEAP and my MDRT partner (some of it), but I learned most of it from the resources I posted in that thread. Once YOU can understand why, then you can communicate that to your prospects and clients.

 

[Glen Shelton]

In my opinion, if the office can't deliver high quality training... they aren't good enough to earn overrides on your production.

Well said ... and true for all lines of insurance!

 

[ColdSlam49]

Great thread. Already got more insight in a few minutes than I have in the past few weeks and definitely gave me some direction. Also, can you one-call close a term policy cold or is that directed at a warmer contact? What's the medical close?

 

[DHK]

The thread is nearly 6 years old, so some thing I've written I haven't updated.

First, the medical close - is for a non-committed prospect... and they're still not committed. I wouldn't bother with it anymore, but here it is anyway:

"You need to think about it. So does the insurance company. How about we get you examined and make sure the insurance company can make you an offer. Until you have an offer, you don't have anything to really think about. If you write a check for the 1st month, you can be covered now as well."

Yes, you can one-call close a term policy. John Savage taught many decades ago the 4 questions that need to be answered before a buying decision can be made.

1) How much? An amount you can easily afford.
2) What kind? The best kind to start with - a term policy.
3) Who from? Well, since my competition isn't here, I humbly recommend that you buy your insurance from me.
4) When? I recommend we do it today because I'm only recommending an amount you can easily afford.


You hinted at something else. Yes, this business is a relationship business, but you don't have to work with pre-existing relationships to be successful. (That's the philosophy of lazy managers who can't teach you to prospect because they want to collect a salary themselves. So they only promote "project 200" referrals.) If that was the case, then only members of the "Lucky Sperm Club" would be successful.

The reason you make a call for insurance &/or financial planning... is to ESTABLISH a PROFESSIONAL relationship on the basis of your offering and what it can do for them. The more your offer is targeted for their benefit, the greater the chance they'll see you as a client authority and want to meet with you. The best part is that you can define the parameters at the beginning, rather than trying to work with people that used to change your diapers and see you as a little kid. That advantage is yours if you learn to be a professional prospector.

How can you do that? There are many ways, but this one is a good one to start with:

http://www.lifehealthpro.com/2010/01/04/better-prospecting-term-life-a-dooropening-relatio

I know Mass doesn't sell ROP term, but thought I'd reference this article for you too.
http://www.lifehealthpro.com/2010/05/03/the-foolproof-script-for-selling-return-of-premium

 

[Golfnut2112]

First, the medical close - is for a non-committed prospect... and they're still not committed. I wouldn't bother with it anymore, but here it is anyway:

You should!! If they take the exam, give blood etc etc they are committed and just not telling you. I just placed a 1 million dollar policy 2 weeks ago on a 62 year old lady using that approach. I have used it numerous times over the years and yet to have someone not take a policy after they took the exam. Sometimes they sign the application and don't take the exam, but that is far and few.

 

[Jeff Biesen]

Cold calls are a tough way to go. Find a niche (florists, bakers, grocery stores…), send direct marketing pieces and follow through with a visit and/or a phone call.

Jeff Biesen
Owner of JBI Insurance Group