I mean come on. I thought being an insurance agent was easy and I would get rich fast. I never want to leave my home or meet with people. Why can’t someone just give me some free leads and make sure the people really want to buy the insurance before I call them. I did read somewhere that tons of agents were making tons of money selling over the phone.
I want a job where I can work a couple of hours a week and make lots of money and I bet being an insurance agent is it. I need to get rich fast. I got bills to pay and I’m broke. I don’t even have 10 bucks to invest in being an agent.
Give me some credit; I did pass my test and all. That should be enough from my part.
Why does the insurance company want me to read some underwriting book or agent guide? I got their number and I can call them, if I need to.
Also does anyone have a script or something I should say to clients that makes them want to buy insurance from me?
Can I copy exacting what you doing? Matter of fact, send me what you doing and just put my name on it.
Also, which company will hire brand new agents that know nothing about insurance and pay me a lot of money? I need to make at least $2,000 a week.
What is prospecting?
Can any of you share you client database with me? I can also ride along with some of you vets and watch you sell it and us split the money.
What you mean you want met o ask people if they want to buy some insurance? I know yall got people lined up just waiting to buy some, so tell them I’m ready to sell it to them.
Anyone that has some free leads and they got to be where I can sell them over the phone. Gas cost to much these days to leave my home.
Why are you laughing? People really think this way.
Mark, forgive me for asking but what brought this on? I take it you recently spoke to an agent that desired to sit in their "pj's" and make money?
How many times do you see, I just got my lic and now what do I do? I want to ask them why did they get their lic and what was their plan to start with.
I always wonder who lied to brand new agents that think they will get rich quick and do little work.
If you are lazy and not going to work hard, then you won't be an insurance agent for long.
I hear it all day long, that is why 99.99% of new agents are out of the business in less than a year. Most are looking for a get rich quick and when it does not happen they are gone.
To make money on day one, you either need "deep pockets" a great work ethic, or learn how to prospect like Mark has. Most agents are broke, and very few work close to 40 hour week including myselfand the thought of learning how to prospect makes most agents quit. The see veteran agents working 3-4 days a week and say hey I wanna be able to do that right now!
In health, one sale a day, four days a week will return $100K. (20% of $2500 a/v)
Those of us that earn higher than 20%, earn even more.
Does one sale a day sound hard?
It is NOT hard unless you don't know what you're doing. Therein lies the problem.
If your buying internet leads, that's 20 leads a day, which is around $150 a day, $750 a week, if you work 5 days a week, or $3k a month.
There lies the problem, you need cash to consistently produce in this biz as you know Rob.
Or cold call 20 hours a week. Which is 4 hours a day.
I think JP says 3 hours of telemarketing will get you a client, that's about 6 apps a week that way. No lead cost. Only cost is your time, dialer, and data list.
------------------------------------
Mark
"Corner Bar"---Independent Agent Anthem
My credit score's fallen like the New York Mets
There ain't a debt collector that ain't called yet
They say, "Money don't talk, it only swears"
And got me cussing in my underwear
Part of knowing what you're doing is knowing how to cold call, how to qualify rather than try to disqualify clients, how to close, etc.
If you went for a job interview (other than entry level) and told them you had no experience they may wonder why you even showed up right? Would you get that job? Probably not.
Originally Posted by YouGotMyMoney
If your buying internet leads, that's 20 leads a day, which is around $150 a day, $750 a week, if you work 5 days a week, or $3k a month.
There lies the problem, you need cash to consistently produce in this biz as you know Rob.
Or cold call 20 hours a week. Which is 4 hours a day.
I think JP says 3 hours of telemarketing will get you a client, that's about 6 apps a week that way. No lead cost. Only cost is your time, dialer, and data list.
I think JP says 3 hours of telemarketing will get you a client, that's about 6 apps a week that way. No lead cost. Only cost is your time, dialer, and data list.
Although I have never really found it important to keep track, I know that is takes less than three hours of calling to sell a Med Supp policy.
One app per day will generate about $75,000 in commission income when selling Med Supps. Med Supps usually pay first year commission for the first six years. Not a bad chunk of change for a one call sale with virtually no service work.
Agents are fed this garbage by recruiters. Here's a solititation I got today;
"Easy to qualify for Maui convention trip 2010"
"$200 Lead Credit for 2,000 ap each cal month"
"105% First YR/Level Renewals for 10 years"
"10/20/30/40 YR Level Term Comms 105% 1st year"
"Term Renewals are 3.5% for 10 years"
"No production requirements"
Wow! What a deal!!! This was an unsoliticed mailer to my home.
I just got off the phone with an agent in Texas that I'm helping because he gets nothing from his upline except "rah-rah" talk. He said, "this is nothing like how they said it was going to be when they recruited me". No kidding.
How many times do you see, I just got my lic and now what do I do? I want to ask them why did they get their lic and what was their plan to start with. I always wonder who lied to brand new agents that think they will get rich quick and do little work. If you are lazy and not going to work hard, then you won't be an insurance agent for long. Am I the only one that hears these things daily?
Great posts Mark. We see it on this forum all the time. Just got my license, going to get my license, etc. Got no money! Got no experience! Got no mentor! I am going Indy NOW what do I do? What do I sell? Where do I get leads? Etc? Etc? Etc? 99% of these people don't stand a snowballs chance where it is hot of making it.
Although I have never really found it important to keep track, I know that is takes less than three hours of calling to sell a Med Supp policy.
One app per day will generate about $75,000 in commission income when selling Med Supps. Med Supps usually pay first year commission for the first six years. Not a bad chunk of change for a one call sale with virtually no service work.
Do most of your Senior clients stick with the same med supp for six years? And if they don't and you switch them to a different carrier, does the "6 years of 1 st yr commission" start again?
I live in South Florida, Very metro/urban area, though it looks a like a retarded cross between a trailer park and a ghetto. I think I read somewhere that MA plans were best used in Metro areas, and Med Supps are used in Rural areas, am I off base here?
I once asked a "top producer" in my 1st year how hard it was for me to make a decent living in this business.
She leaned forward and whispered quietly "I just cannot believe how easy this thing is but don't tell anyone because that's a secret". I think I understand what she meant now. Asking people if they want whatever we sell is the easiest thing we can do. Trying to sell them whatever we sell is hard. Believe it or not some people out there really want what we sell and will thank us for selling it to them. There's nothing to convince.
Do most of your Senior clients stick with the same med supp for six years? And if they don't and you switch them to a different carrier, does the "6 years of 1 st yr commission" start again?
I live in South Florida, Very metro/urban area, though it looks a like a retarded cross between a trailer park and a ghetto. I think I read somewhere that MA plans were best used in Metro areas, and Med Supps are used in Rural areas, am I off base here?
I still have as clients seniors I wrote Med Supps on in 1993. Several still have the original policy even though it is very expensive. I've tried, and even I can't seem to roll them into another company.
I also have clients that have had the same Med Supp for at least eight years. They are paying more than they have to, I'm earning less, but they aren't interested in changing yet. However, I'm sure they will be after the next increase.
When I switch them to a new company the six year commission starts all over again. If they keep it longer than six years my commission decreases dramatically.
Today, until all the changes are made, Med Supps are easiest sold in rural areas. This may not be true in the coming months. We will just have to wait and see what happens to the MA plans and see what the premiums are going to be like with the new Standardized Plans.
Really sounds too good to be true. If the task of an agent will be this easy then I guess I will not have to work harder for a bigger income. In this business there is a relationship with hate and love because we have to invest money and effort in order to harvest the what we have planted.
There Has to Be an Easier Way!
Lori
Linear Mode
