Cold Calling for Life Insurance

[scottfanli]

I know this subject has been touched over and over again but I was wondering if anyone does any sort of cold calling for life insurance?

I have done an exorbitant amount of cold calling for health but want to start cold calling for life insurance. What type of lists do you guys target? businesses? consumers?

What are some of your scripts or lines you guys use?

Any help is graciously appreciated.

Thanks

 

[360]

We have several agents that do it. Not really any difference than health except you're going to need to make more dials per lead. You can also mix in some final expense dialing if you need some cases with a little quicker sales cycle as you're building your life pipeline.

 

[Justin Bilyj]

I can say calling for health is waaaay easier. When my assistant calls for health to small business owners, she asks all the leads she gets if we could run quotes for their life insurance as well. She breaks it down in amounts and terms (or if its UL). She also asks the prospects (or pipeline leads we get) that she has chemistry with if we could run quotes for their life as well. And we get a good amount of people that are fine on health due ot spouse's having it through their job (and its hard to beat the premium) but is open to life quotes or advising.
All it does is take an extra second to ask, and the ROI is impressive.
If I had to cold call for life, it wouldn't be for personal term or UWL, it would be for key man, gold hand-cuffs, and business survivorship plans. I would more likely do B2B for this angle though.

 

[Insuranceman]

I've had fair about of success generating life leads but the conversion rate to sales has been less than stellar.

 

[petrovlucca]

I know this subject has been touched over and over again but I was wondering if anyone does any sort of cold calling for life insurance?

I have done an exorbitant amount of cold calling for health but want to start cold calling for life insurance. What type of lists do you guys target? businesses? consumers?

What are some of your scripts or lines you guys use?

Any help is graciously appreciated.

Thanks

You have to target your consumer.

 

[arnguy]

You have to target your consumer.

No kidding!

 

[Tampa Bay Rep]

I can say calling for health is waaaay easier. When my assistant calls for health to small business owners, she asks all the leads she gets if we could run quotes for their life insurance as well. She breaks it down in amounts and terms (or if its UL). She also asks the prospects (or pipeline leads we get) that she has chemistry with if we could run quotes for their life as well. And we get a good amount of people that are fine on health due ot spouse's having it through their job (and its hard to beat the premium) but is open to life quotes or advising.
All it does is take an extra second to ask, and the ROI is impressive.
If I had to cold call for life, it wouldn't be for personal term or UWL, it would be for key man, gold hand-cuffs, and business survivorship plans. I would more likely do B2B for this angle though.

Excellent way to get the health and life business.

 

[Bob_The_Insurance_Guy]

I agree with the last part of Tampa Bay's response, not so much with the first. Whatever you lead with is what they will see you as. If you go in asking for Health, and then ask for life, you will get it, but you will still be known as the health guy, who also dabbles in Life.

Now, if it is the small business owner you are after (and it should be), then you will have to realize that Life is not a "here and now" product, so it will take several "touches" to get through.

Touch #1: (Telephone Cold Call)

Mr. Smith, this is Bob Levine with Legacy Financial Partners. The reason for my call was to let you know that recent legislation has changed things around for the small business owner. More than just employee health care.

Not something I can just ramble off over the phone. If you'll just allow me 10 minutes when things are not as busy for you. Do you have your calendar handy?

The reason you don't mention Democratic or Republican agendas is because you don't know which side their on, and you don't want to upset them before you meet them.

Touch #2: (email or mail)

If they ask to send them something DO IT. Gone are the days of, "I'd love to drop it off". The buying public is much more sophisticated now and knows all the "sales lines" that have been used ad nauseum (sp).

You want to highlight, put post it notes and your card on whatever you mail to them.

At the end of an email or packet you send, put a time you will call back.

Touch #3: (follow up)

Mr. Smith. Bob Levine giving you a call back. Wanted to explain further what I highlighted in what I sent you, let's meet at Starbuck's this week. Do you have your calendar handy?

If at this point they don't respond, let it go, and drip them for 3 to 6 months.

Touch #4: (initial meeting)

Mr. Smith. Thanks for meeting me. (have a folder of "papers" with you, but don't take them out to show him) I don't want to put the cart before the horse. What exactly does Comrail do? I know through some preliminary research you are in plastics. Could you elaborate.

ask that then SHUT UP. THIS MEETING IS ABOUT HIM, HIS LIFE, HIS BUSINESS, LIKES, DISLIKES, SPORTS HE LIKES, WHY HE GOT IN TO THE BUSINESS, ETC.

Hope this helps.

 

[TRSecurity]

I agree with the last part of Tampa Bay's response, not so much with the first. Whatever you lead with is what they will see you as. If you go in asking for Health, and then ask for life, you will get it, but you will still be known as the health guy, who also dabbles in Life.

Now, if it is the small business owner you are after (and it should be), then you will have to realize that Life is not a "here and now" product, so it will take several "touches" to get through.

One of the best posts on here. This strategy is clear, concise, and easily replicated by anyone who has the drive. I intend to share it with my agents who are in the B2B arena.

Thanks.

 

[kathycook]

I agree with the last part of Tampa Bay's response, not so much with the first. Whatever you lead with is what they will see you as. If you go in asking for Health, and then ask for life, you will get it, but you will still be known as the health guy, who also dabbles in Life.

Now, if it is the small business owner you are after (and it should be), then you will have to realize that Life is not a "here and now" product, so it will take several "touches" to get through.

Touch #1: (Telephone Cold Call)

Mr. Smith, this is Bob Levine with Legacy Financial Partners. The reason for my call was to let you know that recent legislation has changed things around for the small business owner. More than just employee health care.

Not something I can just ramble off over the phone. If you'll just allow me 10 minutes when things are not as busy for you. Do you have your calendar handy?

The reason you don't mention Democratic or Republican agendas is because you don't know which side their on, and you don't want to upset them before you meet them.

Touch #2: (email or mail)

If they ask to send them something DO IT. Gone are the days of, "I'd love to drop it off". The buying public is much more sophisticated now and knows all the "sales lines" that have been used ad nauseum (sp).

You want to highlight, put post it notes and your card on whatever you mail to them.

At the end of an email or packet you send, put a time you will call back.

Touch #3: (follow up)

Mr. Smith. Bob Levine giving you a call back. Wanted to explain further what I highlighted in what I sent you, let's meet at Starbuck's this week. Do you have your calendar handy?

If at this point they don't respond, let it go, and drip them for 3 to 6 months.

Touch #4: (initial meeting)

Mr. Smith. Thanks for meeting me. (have a folder of "papers" with you, but don't take them out to show him) I don't want to put the cart before the horse. What exactly does Comrail do? I know through some preliminary research you are in plastics. Could you elaborate.

ask that then SHUT UP. THIS MEETING IS ABOUT HIM, HIS LIFE, HIS BUSINESS, LIKES, DISLIKES, SPORTS HE LIKES, WHY HE GOT IN TO THE BUSINESS, ETC.

Hope this helps.

SUPERB POST BOB