How to Aproach Friends to Sell Life Insurance?

[vic120]

There is a difference in the way a captive company makes use of the Project 200 and the way Primerica or other MLM companies use it. With a captive company, any business produced out of that list goes to you, not your upline.. If used the way it is intended, it can be a useful tool without your being "that guy"...



I understand now as you have explained well



As for selling friends and relatives, I never hesitated to do so. After all, if something happens to them it is to going to be like it was some stranger. I am going to see what happens to their families.. I was never pushy about it but I did approach them. Never wanted a widow asking me, "why didn't you talk to us about life insurance?"

I hear ya, Except I am thinking in terms of a new guy green and not knowing what is a good plan good company and just going on trust of what a senior guy is telling them, But Yes for a guy who has some experience and knows whats what then yes I understand

 

[toolbelt]

There is a difference in the way a captive company makes use of the Project 200 and the way Primerica or other MLM companies use it. With a captive company, any business produced out of that list goes to you, not your upline.. If used the way it is intended, it can be a useful tool without your being "that guy"...

As for selling friends and relatives, I never hesitated to do so. After all, if something happens to them it is to going to be like it was some stranger. I am going to see what happens to their families.. I was never pushy about it but I did approach them. Never wanted a widow asking me, "why didn't you talk to us about life insurance?"

With Primerica, the first prospect they go after is you, the new recruit! Then, as stated, your upline will ask you to set up "practice" appointments with friends and family, where he will actually try to close deals, and/or recruit them, on his behalf. Then when you get licensed, its your turn to do the same with your downline, rinse and repeat!!!

 

[walthamny]

11 years into this business, I have approached about 70 of my original project 200, about 30 have become clients. It became easier for me to approach over the years as I attended funerals of few of them. 2 have alzheimers now, so they can no longer remember me. I think I found it easier to expand my project 200 all the time instead of making the hard call to my original project 200. So my fear of calling the original project 200 forced me to get good at prospecting, name flow and referrals.

Yes, I have lost some people who I thought were my friends. And I made some distant friends very close. The company will be interested in your sales numbers, but you also have to focus on how you are building your future name flow.

 

[laknight]

What company are you appointed with may I ask? They are definitely after your leads and your personally contacts.
Are you considered a captive agent? pm me I can give you some pointers so not to put yourself in this kind of position.

 

[goillini52]

What company are you appointed with may I ask? They are definitely after your leads and your personally contacts.
Are you considered a captive agent? pm me I can give you some pointers so not to put yourself in this kind of position.

And what are you offering? Why not share with all of us?

 

[laknight]

Sorry not offering anything other than boring veteran agents with captive vs independent experiences I have had and seen over the past 30 years. I no longer do P&C but did for about 20 years... Spend my time solely on Life/ Estate Planning and Settlements nowadays... To be honest I help American's learn how to retire with dignity by doing the right thing by them!

 

[Heather]

I did not approach a friend about life insurance, a few months later that friend was dead - she left nothing to her two teenagers and the county welfare had to cover the burial(unmarked grave in the poor cemetery). I wish I had at least asked her even for her to say no,

 

[toolbelt]

I did not approach a friend about life insurance, a few months later that friend was dead - she left nothing to her two teenagers and the county welfare had to cover the burial(unmarked grave in the poor cemetery). I wish I had at least asked her even for her to say no,

I've heard that scenario before, many times! But i'm sure your friend had heard of life insurance before?

 

[scagnt83]

When it comes to friends and family, you will sell a lot more of them by simply reminding them of what you do, not by trying to hard sell them.

The most you ever really want to say is "hey, if you ever need any help with ________ Id be happy to help".
If you say that to them in the right environment, often it can lead to a conversation about that subject. And sometimes that conversation can lead to setting up an appointment with them and gaining a new client. But that is not something that you just randomly call up a person out of the blue and tell them. Calling someone who you dont normally talk to out of the blue and leveraging your friendship to try to get them to buy life insurance is a great way to lose friends and respect.

You dont want to be the guy in that movie Goundhog Day who gets punched in the face "hey there I havent seen you in forever.... want to protect your loved ones with some life insurance?"


When it comes to your project 200, make it acquaintances, not actual friends. Make it people who you already do business with like your dry cleaner or mechanic or your lawn guy or the local restaurant you go to all the time and the owner always says hey to you. People want to do business with people who do business with them.

Also, take your top 10 or 20 (big fish), and dont call them until after you have been in the business for at least 3 years. You will have far more success with them at that point than you will in your first year. If you see them in the meantime, talk about your work and how great its going... but dont pitch them for a meeting.