Northwestern Mutual - Is This Possible?

vnixnj

New Member
6
So recently I've been doing a lot of research on how new agents start off and I have to say that the only method that I really find effective is learning how to generate your own leads through referrals and favorable introductions that result in high conversion rate. That is just what I've found to be the most believably the long-run success route that any new agents should be aware of.

However, my belief in success conflicts with my interest in this field. My only goal so far is writing 40 lives(policies) within a little less than 3 months period over the time of my internship. I realize that the interest in this field with many of you are quite likely to be different than mine but my only goal is to achieve this number and that's pretty much it. I believe that focusing on the relationship is the way to build any small businesses for the better run in the future.

I believe I have no real effective method of approaching this goal and I've come to an agreement with myself that I won't be able to do this without really busting my ass off using ineffective marketing methods. More specifically, these involve cold calling, door to door, online leads and many more that would cost a lot of time and repetitive work that produce less than ideal closing ratio.

I'm hoping that this is a wrong approach and I'm looking to see if there are any other referral believers out there with experience that would prove to me otherwise. Without considering the qualifications of the prospects, I'm just being rated based on the numbers of policies sold, not the dollar amount. So if referrals are supposed to generate your own leads with more qualified suspects, I'm not interested in that fact one bit.

This is an award given out to the top 3% of all interns and apparently 3% of them are actually able to reach the 40 policies in 3 months. I am hoping to see if there is a secret that they know that I don't.
 
vnixnj said:
My only goal so far is writing 40 lives(policies) within a little less than 3 months period over the time of my internship.

Sell nothing but $20/mo ARTs. Very possible if your only goal is to win "an award".
 
So recently I've been doing a lot of research on how new agents start off and I have to say that the only method that I really find effective is learning how to generate your own leads through referrals and favorable introductions that result in high conversion rate. That is just what I've found to be the most believably the long-run success route that any new agents should be aware of.

However, my belief in success conflicts with my interest in this field. My only goal so far is writing 40 lives(policies) within a little less than 3 months period over the time of my internship. I realize that the interest in this field with many of you are quite likely to be different than mine but my only goal is to achieve this number and that's pretty much it. I believe that focusing on the relationship is the way to build any small businesses for the better run in the future.

I believe I have no real effective method of approaching this goal and I've come to an agreement with myself that I won't be able to do this without really busting my ass off using ineffective marketing methods. More specifically, these involve cold calling, door to door, online leads and many more that would cost a lot of time and repetitive work that produce less than ideal closing ratio.

I'm hoping that this is a wrong approach and I'm looking to see if there are any other referral believers out there with experience that would prove to me otherwise. Without considering the qualifications of the prospects, I'm just being rated based on the numbers of policies sold, not the dollar amount. So if referrals are supposed to generate your own leads with more qualified suspects, I'm not interested in that fact one bit.

This is an award given out to the top 3% of all interns and apparently 3% of them are actually able to reach the 40 policies in 3 months. I am hoping to see if there is a secret that they know that I don't.


40 lives in 3 months, as an intern?!?!?!?
:D


They have got to be joking.
 
Sell nothing but $20/mo ARTs. Very possible if your only goal is to win "an award".

hmm.. I'm not sure what ARTs are but I guess I should have specified the types of insurance that I'm going to be selling - Life, Accident&Health, and LTC around the NY, NJ, CT tri-state area.
 
hmm.. I'm not sure what ARTs are but I guess I should have specified the types of insurance that I'm going to be selling - Life, Accident&Health, and LTC around the NY, NJ, CT tri-state area.

ART = Annual Renewable Term (life insurance)
 
No offense please, but without at least a rudimentary knowledge of your products you are doomed. Proper training in products and prospecting by your manager and doing joint work with an experienced agent are essential.
 
You said: if there are any other referral believers out there with experience
Ah yes, that is the key, with experience. What you say about referrals is true but they only come with time in the biz. As a newby, I hate to break the news to you, get on the phone and cold call. In time you will be able to get referrals.
 
No offense please, but without at least a rudimentary knowledge of your products you are doomed. Proper training in products and prospecting by your manager and doing joint work with an experienced agent are essential.

I fully intend to know my products inside and out before the selling begins and joint work is mandatory. Unfortunately for me, that means I have to sell 40 instead of 20 since I only receive credit for half a policy. While I understand your point that new agents are doomed for their inevitable lack of knowledge on their products, I plan to prep myself to answer any questions thrown at me.

The question is now how I should go about approaching that number. While I believe that knowing the product inside out will make you the "survivor" in this industry and I plan to fully educate myself, I still think that it's not as important as the method of approach for a 3 months period job which I'm not too sure of.
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ART = Annual Renewable Term (life insurance)

Ohhh.. Yeah I fully intend to convince clients that ARTs would be better than whole life. Although my company gives out 6.25% dividends now and have been the top dividends paid in the 25 year average (given the current market volatility, I assume that's one of the better investments), I just can't risk them not signing because their premiums are at least twice as expensive as they could be.
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You said: if there are any other referral believers out there with experience
Ah yes, that is the key, with experience. What you say about referrals is true but they only come with time in the biz. As a newby, I hate to break the news to you, get on the phone and cold call. In time you will be able to get referrals.

The company seems to want to train more in the lines of networking out of your current business and feeding on your own network alone. While I should have seen this coming, I also believe referrals are almost near useless unless they are immediate result after closing.

I'm looking for more answers like, how I should acquire the list for cold calling? For instance, I thought I might call up agencies that have list of people who have major events such as adoption agencies. How would that work out? Are there any other suggestions other than yellowpage?
 
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You sound like the type of person that will give our industry a bad name. You seem to be just worried about people "signing" and not what's best for them and you don't seem to care that you're that way. I'll go ahead and tell you that it's not the job for you...I've seen enough new agents to know. Make sure you're mind is the in right place to HELP clients, not just try to make money off of them. I know I wouldn't want anyone in my family to talk to you the way you've portrayed yourself.

BTW, I wouldn't use "investment' and "insurance" in the same sentence.
 
Gawd! Glad this guy is across the country.

I hope the worst this salesman does is sell a bunch of lapses. He is smart to not want to grind on his family and friends. Either he cares enough about them to not have them do business with him. Or they know better.

Actually, He sounds more like a recuiter than an agent. I would recommend Primerica.
 
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