Cold Calling Reluctance

[Justin Bilyj]

Great Post! What kind of benefits do you offer?

 

[njinsuranceguy]

Thanks.. I sell just group.. You sell final expense right? What's your activity look like? What's your prospecting look like on a weekly basis? Just curious.

 

[rousemark]

Thanks.. I sell just group.. You sell final expense right? What's your activity look like? What's your prospecting look like on a weekly basis? Just curious.

Having done both, I can tell you there is a world of difference between B2B cold calling for group and D2D for individual life, especially FE.

 

[njinsuranceguy]

Having done both, I can tell you there is a world of difference between B2B cold calling for group and D2D for individual life, especially FE.

I would agree to that! My first job in sales was individual life with Pru. It really wasn't for me. I was very successful at it but all I did was call on a book of small whole life policies I inherited from a retired agent. I called them up and told them I was their new agent I wanted to come by and review their policies. When I was there I did a needs analysis and found many under insured. I did set the office record for that year when I made 5k in one week. Pru was very aggressive with sales people and I was too young to handle it. I quit after 2 months. The group market was definitely the place for me.

 

[njinsuranceguy]

I'm shocked. What percentage are over insured?

They had 10k whole life policies that were 20 years old. I'd say thats under insured

 

[Justin Bilyj]

I first off want to sell him something small to get him to become a client. If I start confusing him with paid up, and take loans this etc. nahh, too complicated. These people understand term, permanent, and return of premium.

This also helps him with retirement, I spelled out retirement benefits for him and his wife on SS incomes and they said there's no way they can live on that, so with Trans ROP, they don't need to wait till the end for rop, they have a surrender schedule for access to the money. I was satisfying the need and greed.
If he looks at the 30 year term, and wants that I will sell that, but paid ups are for middle-upper income imo.
I have tried paid ups with Settlers and Mon, they always shy away from it, their thinking is, if its cheaper per month for life pay, I want that...

Here's my numbers for today, went out at 2pm-5pm.
Got 16 not homes, 15 no thank yous, 4 not nows (half gave me full info to call them back at a better time the other half booked appointments) and 3 leads (two of which sat down but couldn't close). I almost had this lady, she's like, "COPD", I said no problem, she said "OXYGEN", I said "". She didn't want graded but she said she will think it over, in the mean time, she gave me two referrals for her sister and niece, and called them up while I was there to tell them to expect my call. So 2 referrals! Got three appointments set outa the bunch, so all in all, it coulda been better with the one quote I had, didn't ask him enough questions to build the immediate need.
But all in all, a great day, for the number of leads and appointments and two sit downs for 3 hours of walking one street.

Just from the 3 hours of door knocking, I have had two referrals and closed 3 cases, one more tonite. $105 ap, plus tonites which I secured a budget (which I do all the time on the initial talk) of $45 a month, should be $1800 ap for just door knocking 3 hours worth of doors. And I still have some more leads (5) to follow up on, and now I have a referral source, old lady on a porch.

 

[rousemark]

Just from the 3 hours of door knocking, I have had two referrals and closed 3 cases, one more tonite. $105 ap, plus tonites which I secured a budget (which I do all the time on the initial talk) of $45 a month, should be $150 ap for just door knocking 3 hours worth of doors. And I still have some more leads (5) to follow up on, and now I have a referral source, old lady on a porch.

Justin, when you say AP, are you talking about Annualized Premium? The figures look like you are talking about $150MP (Monthly Premium) which would be $1800AP which is a great FE day in almost anybody's book.. Congrats for making what "doesn't work" work.

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They had 10k whole life policies that were 20 years old. I'd say thats under insured

True.. but M&M asked how many of those interviews revealed insureds that had too much insurance.. Not sure I have run into many of those..

 

[njinsuranceguy]

True.. but M&M asked how many of those interviews revealed insureds that had too much insurance.. Not sure I have run into many of those..

None that I recall but that wasn't the point of the story. The point was that while others were banging on doors every night and making hundreds of calls in the bullpen, I saw a way to get in front of qualified prospects who already had our product but hadn't seen anyone in 20 years. I made 25 calls a night set the weekly office record for that year while the rest were working their butts off getting nowhere.

 

[houcoogster]

Just from the 3 hours of door knocking, I have had two referrals and closed 3 cases, one more tonite. $105 ap, plus tonites which I secured a budget (which I do all the time on the initial talk) of $45 a month, should be $1800 ap for just door knocking 3 hours worth of doors. And I still have some more leads (5) to follow up on, and now I have a referral source, old lady on a porch.

Good Work!
Strike while the iron is hot...go pick out another juicy street and do it again tomorrow. If you hold out you get stale, use that momentum as leverage.

 

[smokin goose]

Just from the 3 hours of door knocking, I have had two referrals and closed 3 cases, one more tonite. $105 ap, plus tonites which I secured a budget (which I do all the time on the initial talk) of $45 a month, should be $1800 ap for just door knocking 3 hours worth of doors. And I still have some more leads (5) to follow up on, and now I have a referral source, old lady on a porch.

Congrats bro! ............