AnnuitiesByPhone.com

[Josh]

Annuitiesbyphone.com will take you to a cheesy website pushing some marketing system that will make you a millionaire in minutes, but that's not really my questions. I've heard of folks doing final expense, medicare supplements, and even "mortgage protection" by phone, but are annuities a product that can be done that way? I think it's pretty safe to say no, but anyone have any experience with selling it over the phone? Although I'm sure it would come without asking, could anyone feel free to list the reasons why they think it would or would not work? I'm especially interested in hearing from anyone who has consistently produced for at least 5 years.

 

[golfnut]

I know of a few agents that are selling MYGA's and SPIA's over the phone,once the Client makes contact through their website, then all the information is gathered over the phone and paperwork is sent fedex. I know that USAA and others do this same thing. I have not heard of anyone doing index annuities this way.

 

[0b1kanobee]

I think you would have a hard time getting someone to fork over 100k to someone they have only talked to on a phone and having it tied up for 10 years.
Annuities are more involved than agents know. You need to sit with the client and go over all their finacials and have some kind of financial plan. You may get lucky every once in a while and somebody knows what they want but that is few and far between and what they want might not be what is best.

 

[Daytona_Guy]

You may get lucky every once in a while and somebody knows what they want but that is few and far between and what they want might not be what is best.

You may be right, that it is more difficult, but certainly not impossible, especially if there is a relationship with the person already from a previous transaction (Med Supp?)

Boiler room operations have sold items of $100,000+ over the phone for decades now. While I'm not convinced it's a hugely profitable business plan based on the number of sales you wouldn't make, it can probably be done on a smaller scale with existing clients more successfully.

Selling by Telephone: From Cold ... - Google Books

 

[Daytona_Guy]

I think you would have a hard time getting someone to fork over 100k to someone they have only talked to on a phone

It's five years later and, as I predicted in 2010, this is now happening more and more. I have a friend in the industry that's written $10 million this year in FIA's all 100% over the phone in different states. Will be working with him to learn his system - very excited.

It's a new world out there.

 

[Stephen]

It's five years later and, as I predicted in 2010, this is now happening more and more. I have a friend in the industry that's written $10 million this year in FIA's all 100% over the phone in different states. Will be working with him to learn his system - very excited.

It's a new world out there.

If he actually is putting up those kind of numbers 100% over the phone, you guys will be wise to keep it close to the vest. If that genie gets out of the bottle the carriers will put a stop to it after a few of the bad guys catch on.

 

[Daytona_Guy]

If he actually is putting up those kind of numbers 100% over the phone, you guys will be wise to keep it close to the vest. If that genie gets out of the bottle the carriers will put a stop to it after a few of the bad guys catch on.

That's so funny.. in that the very same thing was said to me nine years ago. To the letter. (about selling medicare supplements over the phone.)