$2,400 in Annual Premium Each Month?

[randomguy]

I have several friends in my area that have worked for Farm Bureau. A few for a number of years. They do make good money...but one of them told me, FB is nothing but a life insurance company masked as a P/C company. Guy literally lost his job making $70,000 after 3 years because he could not produce enough Life Premium.

Sounds about right to me, which I'm slowing learning. I maybe have a better mentality for P&C.

 

[DHK]

Since the other thread was taken down...

What you need, is a disciplined process to help you identify potential problems that can be solved with life insurance solutions.

I recommend the VSA's Priority Planning Review for this: Priority Approaches

Using a tool like this can help you to integrate the two worlds together and provide greater client service.

If you can't find $2,400/month of annualized premium (a $200/month term policy)... you're going to have problems.

You should NOT hire someone to do this little thing for you. This is easy enough.

 

[randomguy]

Since the other thread was taken down...

What you need, is a disciplined process to help you identify potential problems that can be solved with life insurance solutions.

I recommend the VSA's Priority Planning Review for this:

Using a tool like this can help you to integrate the two worlds together and provide greater client service.

If you can't find $2,400/month of annualized premium (a $200/month term policy)... you're going to have problems.

You should NOT hire someone to do this little thing for you. This is easy enough.

Thanks for the advice. I can close if I can get in front of people, but my issue is getting in front of enough people. $2,500 annual premium a month, for me, requires an app a week at least.

 

[MikeRobinson]

Do you have access to current customers on the p&c side? What about a drip email or mailings out asking if life coverage has been reviewed lately?

 

[triggerpuller1]

What about generating your own leads using direct mail? Use some of your salary to pay for the mailers. That's what I use, and I wrote over $2,400 in annual premium this week.

 

[randomguy]

Do you have access to current customers on the p&c side? What about a drip email or mailings out asking if life coverage has been reviewed lately?

Yeah so I have only been doing this a few months but I certainly do have some P&C customers. I have about 20. About 1/4 of them are cross sold to life right now. I've been thinking about mailings too!

What about generating your own leads using direct mail? Use some of your salary to pay for the mailers. That's what I use, and I wrote over $2,400 in annual premium this week.

I'd love to! I've got about $10,000 set aside to invest specifically for marketing life insurance. What kind of stats do you have from that mailing? I did a large P&C mailing recently. I can invest almost $1,000 per P&C lead before I'm falling behind due to my awesome compensation package. Of course I'm not spending that and it'd be crazy but that's how the math would work.

As far as life, I'm making anywhere from 30-165% commission, typically around 100% though. So I think it's a good area where it actually pays to invest. How many mailings are you doing? What type of life insurance are you selling off of that? I can afford to put $10,000 into it now and $2,000-$3,000/month to produce $2,500 in annual premium/month.

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I should mention that my life product line is not targeted towards FE. I've got nothing for anyone over 80. A 78 year old NT female can get a $10,000 Whole Life policy for $88.00/month. I can't go older. I can't go lower benefit.

So we're not talking FE here.

 

[triggerpuller1]

I'd love to! I've got about $10,000 set aside to invest specifically for marketing life insurance. What kind of stats do you have from that mailing? I did a large P&C mailing recently. I can invest almost $1,000 per P&C lead before I'm falling behind due to my awesome compensation package. Of course I'm not spending that and it'd be crazy but that's how the math would work.

As far as life, I'm making anywhere from 30-165% commission, typically around 100% though. So I think it's a good area where it actually pays to invest. How many mailings are you doing? What type of life insurance are you selling off of that? I can afford to put $10,000 into it now and $2,000-$3,000/month to produce $2,500 in annual premium/month.

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I should mention that my life product line is not targeted towards FE. I've got nothing for anyone over 80. A 78 year old NT female can get a $10,000 Whole Life policy for $88.00/month. I can't go older. I can't go lower benefit.

So we're not talking FE here.[/QUOTE]


Too bad you can't do FE, that's mainly what I'm doing. Another thing you could mail for is mortgage protection though. I used to do that, and it worked pretty well, I just didn't get renewals on term, which is my main motivation for being in the business, so I quit. Anyway, it's just a term policy to cover the mortgage, I think someone already mentioned doing that for your existing clients you have for P&C. I would think that when you get new life clients, you should also be able to give them a quote on P&C, and add more business to that line as well. Good luck with it all. It sounds like you've got a great compensation package, so I'm sure you want to do whatever is necessary to keep it.

 

[sbkarren]

You may be able to hit that quota by cross-selling to your existing book. For all the reasons previously described by hawkmiles, that's where most agents find the easiest sales.

Go online and search for the blog at Engagex and look for a free eBook called "Lost Secrets of the Best Insurance Leads." It will explain the three primary reasons why selling to your existing book is the best way to go.