How to make the most money in 4 months

MattsDad · 08-12-2008, 12:17 PM

Looking completely short term, what would you guys suggest is the quickest way to a positive cash flow in insurance while waiting for the Annual Enrollment Period to begin? I hold a Life and Health and a Med Sup/LTC license. I am not interested in unethical or illegal activities.

moonlightandmargaritas · 08-12-2008, 12:22 PM

We need more quick-buck, short-term thinkers in this business like a hole-in-the head.

Please find something else to do.

Expat · 08-12-2008, 12:24 PM

Win the lottery

MattsDad · 08-12-2008, 12:31 PM

I am actually looking long term, but am in a slight bind cash flow wise in the short term.

GPaq17 · 08-12-2008, 12:31 PM

Originally Posted by MattsDad

Looking completely short term, what would you guys suggest is the quickest way to a positive cash flow in insurance. I hold a Life and Health and a Med Sup/LTC license. I am not interested in unethical or illegal activities.

I thought this was a set up for a joke. Oops, he was serious

MattsDad · 08-12-2008, 12:34 PM

My question relates to what market space or products would be the best to sell at this time of the year. My wife and I are currently selling Evercare SNP, but are finding the market for this product really tough right now. Maybe we are using the wrong lead/appointment company (Kingdom Call Centers) but we are going in the hole quickly.

LGilmore · 08-12-2008, 01:09 PM

Welcome to the business. situation normal.

Lose the appointment company and look for other ways to make it. The appointment companies job is to make appointments ......not good appointments.. just appointments. Learn the difference before you spend anymore money.

If I get this straight you're a one trick pony? one product? To last in this business you must offer different things for different people. What happens if you have someone who has a need and you can't fill it? somebody else does.

Expand your lines of product. It will even out the slow periods or tough times with a single product that happens all the time.

GPaq17 · 08-12-2008, 01:22 PM

Originally Posted by MattsDad

My question relates to what market space or products would be the best to sell at this time of the year. My wife and I are currently selling Evercare SNP, but are finding the market for this product really tough right now. Maybe we are using the wrong lead/appointment company (Kingdom Call Centers) but we are going in the hole quickly.

Man, the Evercare product went to crap fast huh? This was the plan of choice for non duals that qualify until they pulled it. I don't know why anyone would recommend this plan anymore and wonder if it will last very long? What do you think?

MattsDad · 08-12-2008, 01:23 PM

Thanks for the reply! I have my first targeted mailing going out tomorrow. It is a small sample of only 1000, but I am doing several different 1000 mailings and want to evaluate what counties and methods are the most productive.

We are currently working on SNP plans but are also expanding to sell medicare supplements and MA plans. I am also looking into final expense plans as well.

Newby · 08-12-2008, 01:24 PM

Ir's my opinion that to be an independent agent in the insurance business you are basically starting a business.

You need to build up capitol BEFORE going into business or take a business loan.

People who try to go into insurance with no money, get into trouble real quickly and then sell things out of desparation. That's a recipe for failure and for a bad agent.

My suggestion is to either take a regular job until you build capitol or become a captive agent at a good company.

MattsDad · 08-12-2008, 01:25 PM

Man, the Evercare product went to crap fast huh? This was the plan of choice for non duals that qualify until they pulled it. I don't know why anyone would recommend this plan anymore and wonder if it will last very long? What do you think?

In our market it is still a great plan in the right situation.

GreenSky · 08-12-2008, 01:25 PM

Originally Posted by MattsDad

My question relates to what market space or products would be the best to sell at this time of the year. My wife and I are currently selling Evercare SNP, but are finding the market for this product really tough right now. Maybe we are using the wrong lead/appointment company (Kingdom Call Centers) but we are going in the hole quickly.

A big part of your problem is Kingdom. I had a bad experience with them a few years ago and have yet to read anything here good about them.

You fail to mention where you live and work. That has a big bearing on what might work. You might want to go to "user CP" and add this information.

Rick

MattsDad · 08-12-2008, 01:32 PM

Thanks Rick,

I live and work in the Raleigh, NC area. I am starting to here the same things about Kingdom Call Centers. Are there any that you guys recommend while I am getting my own prospecting going?

Mike

GPaq17 · 08-12-2008, 01:36 PM

Originally Posted by MattsDad

In our market it is still a great plan in the right situation.

Oh, good. In my market, there are so many better choices now that they pulled their chronic. Have you tried hosting B-Day parties or events at senior homes?

myinsurebiz · 08-12-2008, 02:29 PM

Sell Life and Health online / phone.

Create your own leads or take less commission and partner with a group that will provide you leads / appointments.

Recruit sub-agents. Teach them, motivate them and over ride them.

You can make quick cash - you just have to work!

Tom

djs · 08-12-2008, 02:39 PM

The only way I know of to get a decent chunk of cash quick in this business is to sell some large life policies. Even then, you might be looking at 3 months to get a check, especially for large cases that require a bit more underwriting.

If you have someone that will advance on health policies, that will get you some cash as well. A lot of people go this way, but it's not the easiest thing....

Insurance is all about the long slow haul. It's not easy. It's watching the cash flow very carefully, not spending money, but investing it wisely early on.

Good luck.

ABC · 08-12-2008, 02:57 PM

Call all your friends and family and sell them.

bobson · 08-12-2008, 03:36 PM

Originally Posted by MattsDad

Thanks Rick,

I live and work in the Raleigh, NC area. I am starting to here the same things about Kingdom Call Centers. Are there any that you guys recommend while I am getting my own prospecting going?

Mike

If you are in the Raleigh area you have a huge market. Time to go B2B with health insurance, life insurance, and/or disability insurance.

Alston · 08-12-2008, 05:43 PM

Originally Posted by MattsDad

Looking completely short term, what would you guys suggest is the quickest way to a positive cash flow in insurance while waiting for the Annual Enrollment Period to begin? I hold a Life and Health and a Med Sup/LTC license. I am not interested in unethical or illegal activities.

I feel for you. I've been there.

Here are some products that can be sold all year long and that might work well with the your current marketing.

Traditional med sup
Burial policies
Long term care

I know that there are significant restrictions on discussing other products during the sales call, and I will admit to extreme ignorance about these laws. But if it is legal to contact your clients by mail or phone after the sale and try to cross-sell them or get referrals you may want to consider doing so. It is always easier to sell to clients and referrals.

You may want to consider an evening or part-time job to get you from now to November.

"All lessons in life are repeated until learned." Try to figure out what you did or didn't do that put you in this situation and learn from it.

Good luck to you.

myinsurebiz · 08-12-2008, 07:28 PM

" Call all your friends and family and sell them. "

LOL - A.L. Williams actually created a few millionaires with this game plan . . .

Tom