Ask if Have Checking Account for FE?

[incis]

What do you guys do concerning FE lead not having a checking account?....do you ask if they have a checking account and if they don't do you sell with a carrier that bills monthly or forget it...I'm assuming the persistency if they don't have a checking account is terrible.
Thanks

 

[Newby]

Bill monthly. It's not all that bad.

 

[pbbaseball]

i go ahead and sell them monthly... chances are they won't stay on the books for a year, and then you can call them a year later and rewrite, haha...

but if you're already there, why not sell them and make something off of it... lots of them will actually keep it also

 

[bill3173]

I usually won't make an appt. unless they have a checking account, but in the rare case that I feel they may be good clients, quarterly only, no monthly billing. Not that there's anything wrong with that, but I don't have time for a debit agency.

Some of the carriers will give you special authorization to collect monthly, and when I first went independent, I did some of those type accounts, but I had more time on my hands back then.

That was a good question, everybody has to make his own mind up about the business.

 

[theinsuranceman]

There are subtle ways to find out if a prospect uses a bank account. You can NOT just ask them this question naked in the conversation as you will throw up unnecessary red flags, they'll sense your primary interest is whether or not they have a bank account, and start to become a little suspicious about you.

Better idea: In the warm up casually say "You know, a lot of people I help each week are on a fixed income. Are you also on a fixed income Ms Jones?"

If yes...say "seems like a lot of people are now using the electronic direct deposit feature. Have you tried it yet?"

If they work...say "seems like a lot of Co.'s have started direct depositing their employees" paychecks into the bank automatically rather than handing them out like they used to do. Do they direct deposit your check too?"