Add On Coverage Letters

[Rearden]

The quasi-captive company that I started out with did a very good job with this. Sent out mailers twice a year reminding policyholders that due to the rising cost of funerals that they may be eligible for additional coverage. Very direct and to the point. The agent just had to cover the mailing cost, which amounted to about $12ea if I remember correctly.

Our IMO helped Americo pilot a similar program last year, but it wasn't done the way we suggested and in turn did not get great results. Most companies however are scared to death of you going back to see even your own clients, not to mention putting you in front of any of their orphans.

If you would just go door knock your existing policyholders your u would be amazed at how many of them are wanting to get additional coverage, but won't pull the trigger on their own, and usually won't respond if you call them up because they fear that it will be a hassle. If you aren't writing them additional coverage, then they will just get it from the next guy that shows up at their door.

Most often just an additional policy, unless they were substandard health with the initial coverage but can now qualify for level at a better rate.

You call yourself an FE agent?

Calling on existing customers who know, like, and trust you to sell them MORE coverage... WITHOUT using direct mail?

You should be ashamed!

Seriously, the one thing I wish I would have done different was begin to revisit clients after 12-18 months from taking their first application (people who still have coverage and those who let it go).

Think of all the business we replace, or all the business we supplement coverage with; that could be us in 1 to 5 years with the only difference that we are adding coverage to EXISTING customers versus replacing our competition's policies.

I've written a bunch of business off of policy reviews of existing customers, simply by asking for an appointment to check in and see if there's anything better out there.

These follow ups are great opportunities to sell more coverage, sell someone else in the house coverage, sell grandkid coverage, sell supplemental plans like Medicare coverage. ALL without having to invest an arm and a leg into a direct mail campaign.

 

[rousemark]

You call yourself an FE agent?

Calling on existing customers who know, like, and trust you to sell them MORE coverage... WITHOUT using direct mail?

You should be ashamed!

Seriously, the one thing I wish I would have done different was begin to revisit clients after 12-18 months from taking their first application (people who still have coverage and those who let it go).

Think of all the business we replace, or all the business we supplement coverage with; that could be us in 1 to 5 years with the only difference that we are adding coverage to EXISTING customers versus replacing our competition's policies.

I've written a bunch of business off of policy reviews of existing customers, simply by asking for an appointment to check in and see if there's anything better out there.

These follow ups are great opportunities to sell more coverage, sell someone else in the house coverage, sell grandkid coverage, sell supplemental plans like Medicare coverage. ALL without having to invest an arm and a leg into a direct mail campaign.

Gee! Seems someone was preaching that to you a couple of years ago

 

[WinoBlues]

Gee! Seems someone was preaching that to you a couple of years ago

He must not be an FE agent either.


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