How do you Do It?

John Siegal · 08-14-2008, 05:14 PM

I've been getting SEO leads from young adults aged 18-27. The premiums for this age group can be less than $90.

Frankly...i don't know how any agent can make money selling to this group. At 20%...your monthly comms is $20.

That doesn't even pay for the time spent on website.

Anyone working with these types?

JS

Invain15 · 08-14-2008, 05:26 PM

I don't waste my time with them. It's not profitable. Thats why I cherry pick and stick with families. I dont write anyone under 30 unless its a family of 3+ or children only

CHUMPS FROM OXFORD · 08-14-2008, 05:36 PM

I see a lot of them. I don't deliberately prospect them, but they are out there.

The small business owner will help bring your numbers up.

John Siegal · 08-14-2008, 05:54 PM

That's what i thought....thanks guys!

Yeah....waste of time. Probably the kind who cancel right away...and short on money.

JS

joshril · 08-14-2008, 06:34 PM

I set my age filters at 28 and older... The younger crowd is not worth the hassle and flaky as hell..

InsuranceBenefitsGroup · 08-14-2008, 07:15 PM

I second that.

moonlightandmargaritas · 08-14-2008, 07:48 PM

Quote:

Originally Posted by John Siegal

Yeah....waste of time. Probably the kind who cancel right away...and short on money.

Not if you got Mom or Dad paying the premium...

Alston · 08-14-2008, 08:46 PM

I love it when a mother calls me and says that she needs coverage for her daughter who is about to graduate. I do plenty of quality business in this demographic. As Moonlight said, the premiums are often paid by their parents.

The persistency might not be the best, but it isn't bad. When Junior graduates from college, he will probably get a job, but that first job won't always offer health insurance.

The sales are easier to make because the premiums are lower and there are fewer underwriting hassles. You have to balance that with fact that the commissions may be lower before deciding to write or not write this business.

InsuranceBenefitsGroup · 08-15-2008, 09:25 PM

Quote:

Originally Posted by moonlightandmargaritas

Not if you got Mom or Dad paying the premium...

Agreed, however finding responsible young people and/or their parents in FL is a chore...most are dingalings. A large number of them talk about it and then it never comes to fruition for one lame excuse or another.

robliano · 08-16-2008, 06:16 PM

I look at it this way.

That age group gets issued rather quickly and three of those policies can equal the same commission as one family policy.

Even though statistically it's the age group that falls off the books the quickest, that one sale is never just one sale. Don't forget relatives, referrals, etc.

So they can be worth it.

HomeService · 08-17-2008, 01:31 PM

You guys are lame. The younger crowd is where it is at. You go in with a health lead, but you may also sell a life policy and a disability policy. Plus all the things that robliano mentioned. They get issued quickly and they have family members.

Counting your commission before you go out on a sale? Trying to cherry pick a lead by saying it's only a $20 commission, before you call them? LAME.

Dave020 · 08-17-2008, 04:07 PM

I agree with Home and some of the others here. Young people make great prospects and clients. My falloff is actually very low in that age group since, at least for me, many are doing artistic endeavors (art, music, academics, cooking and so on) and are not generally ever offered group benefits.

A goodly percentage of my referrals (not from my site) are directly from 20- and 30-somethings who have lots of friends just like them. They also will grow into other products as their life situation changes. Heck, I've had them refer me to mom and dad for health insurance.

Yeah, sometimes they can be a little flaky, but hey, I enjoy working with them for exactly that reason. They are fun clients, never complain and love to send you their friends.

What's not to like??

robliano · 08-17-2008, 05:38 PM

I agree 100%, being a musician and knowing what it was like to go years without insurance allows me to relate to that crowd and mindset. I never knew where to go so once I found out, I told all of my musician friends. That agent must have loved me then!

Quote:

Originally Posted by Dave020

I agree with Home and some of the others here. Young people make great prospects and clients. My falloff is actually very low in that age group since, at least for me, many are doing artistic endeavors (art, music, academics, cooking and so on) and are not generally ever offered group benefits.

A goodly percentage of my referrals (not from my site) are directly from 20- and 30-somethings who have lots of friends just like them. They also will grow into other products as their life situation changes. Heck, I've had them refer me to mom and dad for health insurance.

Yeah, sometimes they can be a little flaky, but hey, I enjoy working with them for exactly that reason. They are fun clients, never complain and love to send you their friends.

What's not to like??

myinsurebiz · 08-17-2008, 06:22 PM

" Counting your commission before you go out on a sale? "

Always good to know the cost of business.

" Trying to cherry pick a lead by saying it's only a $20 commission, before you call them?"

Leads are as plentiful as cherries - why not target your results to a market that has greater profit potential and requires about the same amount of time. After all - Time Is Money!

Tom

bluemarlin08 · 08-17-2008, 07:36 PM

I write many 16 year old and older children, it really makes sense for parents to put their kids on their own policies, don't have to worry about changes in insurability when they drop off the family plan or worry about coverage if they drop out of school.

robliano · 08-17-2008, 10:56 PM

Quote:

Originally Posted by myinsurebiz

" Counting your commission before you go out on a sale? "

Always good to know the cost of business.

" Trying to cherry pick a lead by saying it's only a $20 commission, before you call them?"

Leads are as plentiful as cherries - why not target your results to a market that has greater profit potential and requires about the same amount of time. After all - Time Is Money!

Tom

It's not really the same amount of time, to submit perhaps, but to get issued, pull medical records, get the rx info, follow up calls and underwriting usually can take much longer.