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Old 06-13-2017, 09:17 PM   #1
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State: jiffy is an Insurance Agent from
Mortgage Protection By Phone Mortgage Protection By Phone
I am newly licensed and I am seeing a lot of vague information about selling mortgage protection and other life insurance over the phone. I even talked to a guy today that says he has not been in a home for about 10 years. Is this possible and how do I learn to do this by phone versus in home?
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Old 06-15-2017, 07:31 PM   #2
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Join Date: May 2017
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State: Whirleybird is an Insurance Agent from
Mortgage Protection By Phone Re: Mortgage Protection By Phone
Originally Posted by jiffy View Post
I am newly licensed and I am seeing a lot of vague information about selling mortgage protection and other life insurance over the phone. I even talked to a guy today that says he has not been in a home for about 10 years. Is this possible and how do I learn to do this by phone versus in home?
Phone sales have a much higher chargeback rate and a much lower buy rate. In home presentation absolutely matters. Case in point, over the phone you don't know what health issues he's going to lie about to to get the best price, and he certainly isn't going to buy a separate policy from his wife. And forget about him giving you her medical history. I assume you would have to deliver the policy by mail as well?

Chances of getting referrals in that situation are pretty slim as well.
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Old 06-16-2017, 02:34 PM   #3
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mickeyma on Mortgage Protection By Phone
 
Join Date: Apr 2008
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State: mickeyma is an Insurance Agent from California
Mortgage Protection By Phone Re: Mortgage Protection By Phone
Originally Posted by jiffy View Post
Is this possible and how do I learn to do this by phone versus in home?
Anything's possible. But, is it probable? Especially for someone just starting to market to that niche.

I spent 30 yrs selling mtg. protection face to face and it would be extremely difficult for anyone to make a good living out of selling mort. protection over the phone.

Over the phone, you can't look at their existing insurance and compare it with what you're offering. Most people don't really know their coverage. "I have $1 million insurance and pay $10 a month," they say. "Wow," that's great. "I respond. I'd like to get that policy on myself. Can I see it?

Out comes the husband from his file room scratching his head. "Hey, I have $10 of life insurance and I pay $1 million!"
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Old 06-27-2017, 02:33 PM   #4
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Join Date: Apr 2017
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State: NuUzr is an Insurance Agent from Undisclosed Location
Mortgage Protection By Phone Re: Mortgage Protection By Phone
Originally Posted by mickeyma View Post
Anything's possible. But, is it probable? Especially for someone just starting to market to that niche.

I spent 30 yrs selling mtg. protection face to face and it would be extremely difficult for anyone to make a good living out of selling mort. protection over the phone.

Over the phone, you can't look at their existing insurance and compare it with what you're offering. Most people don't really know their coverage. "I have $1 million insurance and pay $10 a month," they say. "Wow," that's great. "I respond. I'd like to get that policy on myself. Can I see it?

Out comes the husband from his file room scratching his head. "Hey, I have $10 of life insurance and I pay $1 million!"
Did you continue selling MP when the RE market collapsed?
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