How to Aproach Friends to Sell Life Insurance?

[Guedes]

Hi,

I just start in a Life insurance company and the first project is to contact 200 people that I have relationship to sell life insurance. How can I do that without hurt my relationship with friends? Is the insurance company only looking for my leads and after that will fire me?

 

[goillini52]

Hi,

I just start in a Life insurance company and the first project is to contact 200 people that I have relationship to sell life insurance. How can I do that without hurt my relationship with friends? Is the insurance company only looking for my leads and after that will fire me?

You can't and yes, you're a lead source.

 

[Ron Van D]

You can't and yes, you're a lead source.

What he said!!!!!!!!!!!!!!!!!!!!!!!

 

[DHK]

You need to gauge each individual relationship on its own merits.

I would suggest this - if you don't have a CURRENT relationship, then your contact "out of the blue" may be seen as a deceptive tactic, unless handled properly. (See my attached pictures of a Facebook conversation with a friend of mine who felt exactly this way.)

However, HOW you bring up what you do is also important. Take a look at Sandy Schussel's article in this link here. I think it ought to be of great help to you.

http://www.insuranceproshop.com/NL/03-05-13.html

 

[vic120]

200 Thats sick

I wouldnt work or do buis with anyone that wanted me to market to even one of the people close to me before I even learned the product selling it to the public

My first thought is the product So Bad they NEED me to market relative's

Then on top of it they are asking for 200??


Man, did they at least buy you dinner first?

And Yes, They will kick you out the bed in the morning

 

[Guedes]

Thanks DHK.

I will take a look.

 

[unic.consulting]

I can see both the pros and cons of this process depending on the personality of the agent. The problem is that most of the agents who go through this aren't the ones who benefit from it. I'm happy to tell 200 of my friends and family what I do and that I love doing it and that I'd love to help them, then I let them come to me. I'd be horrible at chasing after them however because it's not my personality. The biggest benefit I can see from the 200 approach is that if you get 5% to let you process apps for them, you'll learn 10 different reasons why people are rejected for policies. Then you'll know a bit better what to do when you get actual clients.

 

[rousemark]

200 Thats sick

I wouldnt work or do buis with anyone that wanted me to market to even one of the people close to me before I even learned the product selling it to the public

My first thought is the product So Bad they NEED me to market relative's

Then on top of it they are asking for 200??


Man, did they at least buy you dinner first?

And Yes, They will kick you out the bed in the morning

Almost every captive company will ask a new agent to complete a Project 100 or Project 200.. The idea is to list people that you think you can approach on a favorable basis.. not necessarily friends or relatives or people you think will be interested in buying insurance. It is simply a place for an agent to start... As they approach these people, they get referrals so goes the "endless chain" method of prospecting. It is a tried and tested method and has worked well for those that will take it seriously. And, no the company will not fire you after you work through your project number but if you do not learn how to prospect along the way, you will fire yourself when you run out of people to see.

 

[vic120]

Almost every captive company will ask a new agent to complete a Project 100 or Project 200.. The idea is to list people that you think you can approach on a favorable basis.. not necessarily friends or relatives or people you think will be interested in buying insurance. It is simply a place for an agent to start... As they approach these people, they get referrals so goes the "endless chain" method of prospecting. It is a tried and tested method and has worked well for those that will take it seriously. And, no the company will not fire you after you work through your project number but if you do not learn how to prospect along the way, you will fire yourself when you run out of people to see.

I would think it true if you say so,As I know you around forum

I guess I am not used to it, Only one sales job ever asked that of me and that was a place I left after 2 months


besides that when I worked a brokerage a coworker said he had a Great buis opportunity, only he wouldnt ell me anything till I went to a meeting at which time.They asked us to write down 50 people we could approach Before they would even tell us what the product was

As it turned out it was a MLM scam.

I have worked many sales jobs, And I guess the dif is they have all been phone positions. So I have the mindset of If I work for an organization Especially if it is commision I should be provided leads and if the product works in time I would feel more comfortable in time to try and help those I know

Guess there are other ways of doing it, It's just alien to me

 

[rousemark]

I would think it true if you say so,As I know you around forum

I guess I am not used to it, Only one sales job ever asked that of me and that was a place I left after 2 months


besides that when I worked a brokerage a coworker said he had a Great buis opportunity, only he wouldnt ell me anything till I went to a meeting at which time.They asked us to write down 50 people we could approach Before they would even tell us what the product was

As it turned out it was a MLM scam.

I have worked many sales jobs, And I guess the dif is they have all been phone positions. So I have the mindset of If I work for an organization Especially if it is commision I should be provided leads and if the product works in time I would feel more comfortable in time to try and help those I know

Guess there are other ways of doing it, It's just alien to me

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?"