Changing from Final Expense to...

[Travis Price]

I'd be interested to learn more. I've heard this before from people but I have just never got my health insurance license.

do you have your business set up that people call you rather than you going out and prospecting / calling ?

Yep. I don't do any "outbound" prospecting. By outbound, I mean I don't do cold calling or buying leads or reply mailers.

I use Google Local
I write articles for my website
I send out T65 sequence letters

All people come to my site to get quotes and thus are inbound and I call with email f/u or call me.

It's not the cheapest way to go, but it's ROI+ and it maximizes my time.. which is more important to me.

Barry and I have the same philosophy.. dialing for dollars sucks. Driving all over God's creation for the possibility to make a sale sucks.

Some people love to do that door knocking and cold calling bit, and God love em.. I absolutely hate it.

 

[WinoBlues]

I'm considering getting back into insurance and was wondering if someone can relate to my experience and also give me some guidance to another route I can take.

I'd like to work with a different clientele I'm just not sure who that is at this time.

A large part of me wants to help out families with mortgage protection.

You already have the skill set. Maybe use the same product just a different market. Add Term and GUL to cover Mortgage / Income needs. Very easy products to understand.

Years ago I met a guy at a Jackson National IUL seminar he told me about this company that sold policies with no exam or blood work. Policies issued and paid in under a week. They took diabetics, Insulin and big boys Std. It was awesome. Then after a while, I found I was dealing with people that called me every other day to change to a different bank again or NSF'd again. Struggling to get $30 or $40 dollars a month out of them. And I learned about freaking chargeback hell.

At one point I thought about getting a <gasp!> J O B.

Instead, I fired some clients and cleaned up my book. I don't sell much FE. But I do sell SIWL. There is a grip of people out there that are big boys with diabetes, high blood pressure, AFIB, and good jobs or retirements. And have wives the same. They are in their 50s and 60s. Yeah yeah I know 50year olds do not buy FE. Cool, I am not selling FE. I sell SIWL. They do not NSF, They have clean houses, and they understand solutions have a price. These are the same people I sell Life Insurance to, These are just smaller SI policies to cover final expenses.

 

[BarryNY]

I'm not throwing anything out the window - and yes I agree, I would much rather have people calling me to buy something. That would be awesome.

This is the "quote". Everyone ultimately realizes this.

You may not relate to the clientele that's buying FE (neither do I that's why I can't do F2F), but, if they're calling you...then the entire scenario gets reversed - you're no longer selling anyone anything...you're more their trusted advisor. You're helping them...not selling them.

You're guiding them on the buy. It's a cat versus mouse scenario. You when doing outbound calling - you're the mouse. Them calling directly into you - now you're the cat. I'm not much for cats - but given the choice I'd rather be the cat than the mouse...

Seriously, you have a lovely family and you could be bringing in $3500-$5000/week net after marketing, again operating as an independent agent - selling FE totally from the comfort of your own home - and only talking to people that called to talk to you.

Trust me it's a wayyy different conversation than outbound calling, when you're interrupting someone and trying to sell them something - and that's if they even did...pick up their phone...

I've leveled the playing field for independent agents - by giving them the opportunity to buy into the same live incoming calls from TV advertising - that has traditionally been reserved for only captive agents at the largest carriers (think SelectQuote) or for agents stuck under certain IMOs...IMOs that dangle your buying TV calls thru them like a carrot . Now finally, you are free to get the best contract you can negotiate at the IMO/agency of your choice while securing the "ultimate lead" - which is an interested prospect that's live calling you from a TV ad.

I think you'd have an entirely different perspective at the end of your 6-7 hour day (again in your comfy home with that cute little kid) after talking to 6-8 interested prospects and closing about 25% of them...or 1.5/2 on average. We use $500 as an avg net cash flow after marketing...so figure $750-$1,000/day NET. It's totally a function of your talk time...you talk more you make more. You're a good talker make even more. I personally know unicorns closing 35%+. They exist.

No more apologizing for interrupting anyone. No more mouse versus cat. Think about it...

 

[myinsurebiz]

This is the "quote". Everyone ultimately realizes this.

You may not relate to the clientele that's buying FE (neither do I that's why I can't do F2F), but, if they're calling you...then the entire scenario gets reversed - you're no longer selling anyone anything...you're more their trusted advisor. You're helping them...not selling them.

You're guiding them on the buy. It's a cat versus mouse scenario. You when doing outbound calling - you're the mouse. Them calling directly into you - now you're the cat. I'm not much for cats - but given the choice I'd rather be the cat than the mouse...

Seriously, you have a lovely family and you could be bringing in $3500-$5000/week net after marketing, again operating as an independent agent - selling FE totally from the comfort of your own home - and only talking to people that called to talk to you.

Trust me it's a wayyy different conversation than outbound calling, when you're interrupting someone and trying to sell them something - and that's if they even did...pick up their phone...

I've leveled the playing field for independent agents - by giving them the opportunity to buy into the same live incoming calls from TV advertising - that has traditionally been reserved for only captive agents at the largest carriers (think SelectQuote) or for agents stuck under certain IMOs...IMOs that dangle your buying TV calls thru them like a carrot . Now finally, you are free to get the best contract you can negotiate at the IMO/agency of your choice while securing the "ultimate lead" - which is an interested prospect that's live calling you from a TV ad.

I think you'd have an entirely different perspective at the end of your 6-7 hour day (again in your comfy home with that cute little kid) after talking to 6-8 interested prospects and closing about 25% of them...or 1.5/2 on average. We use $500 as an avg net cash flow after marketing...so figure $750-$1,000/day NET. It's totally a function of your talk time...you talk more you make more. You're a good talker make even more. I personally know unicorns closing 35%+. They exist.

No more apologizing for interrupting anyone. No more mouse versus cat. Think about it...

How much are the incoming calls?

 

[Ksutton]

You already have the skill set. Maybe use the same product just a different market. Add Term and GUL to cover Mortgage / Income needs. Very easy products to understand.

Years ago I met a guy at a Jackson National IUL seminar he told me about this company that sold policies with no exam or blood work. Policies issued and paid in under a week. They took diabetics, Insulin and big boys Std. It was awesome. Then after a while, I found I was dealing with people that called me every other day to change to a different bank again or NSF'd again. Struggling to get $30 or $40 dollars a month out of them. And I learned about freaking chargeback hell.

At one point I thought about getting a <gasp!> J O B.

Instead, I fired some clients and cleaned up my book. I don't sell much FE. But I do sell SIWL. There is a grip of people out there that are big boys with diabetes, high blood pressure, AFIB, and good jobs or retirements. And have wives the same. They are in their 50s and 60s. Yeah yeah I know 50year olds do not buy FE. Cool, I am not selling FE. I sell SIWL. They do not NSF, They have clean houses, and they understand solutions have a price. These are the same people I sell Life Insurance to, These are just smaller SI policies to cover final expenses.

I like this - how does one market for this?

 

[vic120]

[QUOTE="

It's not the cheapest way to go, but it's ROI+ and it maximizes my time.. which is more important to me.

it.[/QUOTE]


This right here when I first started I would see a lot on forum about ROI and I came from employee previous so I was not used to investing it looked to much like the cost at first

However, I have learned Time can be more costly then Money with marketing

took a while to make the shift but its been much better Investing more and getting better return even though the first-year cost is higher overall it more efficient and because its more efficient its more profitable

 

[BarryNY]

How much are the incoming calls?

Please allow me to preface and than answer your question...just like with a good FE script I'll show you the value then give you the quote...LOL...

For independent agents - if buying their own incoming calls from TV - they MUST have a true :30 (thirty second) buffer.

What is a true :30 buffer? That means that any call that doesn't last a minimum of :30 - the agent doesn't get charged. The :30 buffer is not for a quick qualification of the prospect. The :30 buffer will weed out the:

• Call answered – no one on the line: No charge (this is the most prevalent reason for a bad call – caller saves the 800# in their phone by dialing then hanging up)
• Call answered – fax noise: No charge
• Call answered – the caller dialed the wrong number (i.e. "I want to change the beneficiary on my policy"…"hello GEICO", etc): No charge
• Call answered – the caller does not speak English: No charge
• Call answered – the caller is making a clear prank call (swearing/yelling/etc): No charge

Unfortunately, adding this buffer feature into the TV buy or one of the many other call constraints (like time of day and which states to receive calls from) commands a premium from the media companies.

Now, for some large carriers/IMOs with a call center concept - they are taking calls with NO buffer and also during odd ball hours...some even 24/7 - then delivering (at a later time) call back info or transfers to their agents. They can afford to "eat" all those bad calls because they are making a BIG spread on the sales from their agents - so for a lower price/call they live with that waste.

But for the independent agent - I don't know about you - but I'm not going to pay anything when answering a call and no one is there..or for one of the other few reasons listed above. Get a bad batch of calls - without the buffer and you're going broke fast...

I'm also not going to pay for a transfer of a call that originated days or hours before - after that prospect made that initial dial on their end...

I want a live, unfiltered, I'm the first person they're going to talk to when they dial - call. I want to talk to them when they're in the emotional moment...seeking out the information about the FE plan...that's maximum buyer intent!

Additionally, on top of the price/call - there's also the cost for the routing software...this software directs the incoming call to the next available (longest waiting time) agent that's taking calls from the states they are licensed in. The software allows for conference calling and call recording..

This is the most efficient way to telemarket. Work smarter not harder. Value your time.
Think cost per acquisition not cost per lead...again value your time (and sanity) by only talking with people who are looking to talk to you...

 

[WinoBlues]

You already have the skill set. Maybe use the same product just a different market. Add Term and GUL to cover Mortgage / Income needs. Very easy products to understand.

Years ago I met a guy at a Jackson National IUL seminar he told me about this company that sold policies with no exam or blood work. Policies issued and paid in under a week. They took diabetics, Insulin and big boys Std. It was awesome. Then after a while, I found I was dealing with people that called me every other day to change to a different bank again or NSF'd again. Struggling to get $30 or $40 dollars a month out of them. And I learned about freaking chargeback hell.

At one point I thought about getting a <gasp!> J O B.

Instead, I fired some clients and cleaned up my book. I don't sell much FE. But I do sell SIWL. There is a grip of people out there that are big boys with diabetes, high blood pressure, AFIB, and good jobs or retirements. And have wives the same. They are in their 50s and 60s. Yeah yeah I know 50year olds do not buy FE. Cool, I am not selling FE. I sell SIWL. They do not NSF, They have clean houses, and they understand solutions have a price. These are the same people I sell Life Insurance to, These are just smaller SI policies to cover final expenses.

Someone just reminded me of this old post.

Who disagrees? And why?

 

[theinsuranceman]

Please allow me to preface and than answer your question...just like with a good FE script I'll show you the value then give you the quote...LOL...

For independent agents - if buying their own incoming calls from TV - they MUST have a true :30 (thirty second) buffer.

What is a true :30 buffer? That means that any call that doesn't last a minimum of :30 - the agent doesn't get charged. The :30 buffer is not for a quick qualification of the prospect. The :30 buffer will weed out the:

• Call answered – no one on the line: No charge (this is the most prevalent reason for a bad call – caller saves the 800# in their phone by dialing then hanging up)
• Call answered – fax noise: No charge
• Call answered – the caller dialed the wrong number (i.e. "I want to change the beneficiary on my policy"…"hello GEICO", etc): No charge
• Call answered – the caller does not speak English: No charge
• Call answered – the caller is making a clear prank call (swearing/yelling/etc): No charge

Unfortunately, adding this buffer feature into the TV buy or one of the many other call constraints (like time of day and which states to receive calls from) commands a premium from the media companies.

Now, for some large carriers/IMOs with a call center concept - they are taking calls with NO buffer and also during odd ball hours...some even 24/7 - then delivering (at a later time) call back info or transfers to their agents. They can afford to "eat" all those bad calls because they are making a BIG spread on the sales from their agents - so for a lower price/call they live with that waste.

But for the independent agent - I don't know about you - but I'm not going to pay anything when answering a call and no one is there..or for one of the other few reasons listed above. Get a bad batch of calls - without the buffer and you're going broke fast...

I'm also not going to pay for a transfer of a call that originated days or hours before - after that prospect made that initial dial on their end...

I want a live, unfiltered, I'm the first person they're going to talk to when they dial - call. I want to talk to them when they're in the emotional moment...seeking out the information about the FE plan...that's maximum buyer intent!

Additionally, on top of the price/call - there's also the cost for the routing software...this software directs the incoming call to the next available (longest waiting time) agent that's taking calls from the states they are licensed in. The software allows for conference calling and call recording..

This is the most efficient way to telemarket. Work smarter not harder. Value your time.
Think cost per acquisition not cost per lead...again value your time (and sanity) by only talking with people who are looking to talk to you...

Hey Barry, hope you've been doing well. Haven't heard you promoting those $54 TV leads the last few weeks. How did it work out?

 

[theinsuranceman]

I'm not throwing anything out the window - and yes I agree, I would much rather have people calling me to buy something. That would be awesome.

Here's an example of one of the TV commercials that my agents enjoy. Live transfers for those in 15+ states, call backs for those in fewer states. Anyway can call me if interested.

https://ispot.tv/a/IkaM