Dialing for dollars

[Telesales314]

And what JD is not telling you is that Sr Life's Platinum Plan is one of the best rates in the country, and the UW is not all that strict.

On the Senior Life website the Platinum plan is listed below preferred and above standard, is that where it ends up pricewise?

 

[tippingpoint]

Leading with medicare seems like a good option.

 

[theinsuranceman]

First, any projected closing rate given to you by the person selling the leads always warrants further investigation, just to protect yourself.

Second, the 15-20% number is obviously not impossible, (I am in that range on prequalified live transfers this year) but selling that as the 'average' does not seem like the whole story to me, because you are only counting the agents that remain.
---Fictional Example: Join my team! I have 10 agents and they all close between 15-20%.
What I leave out: I have had 20 new agents join and fail in the last year, they were all around 5% closing. That would skew the average a lot

Additionally a 15-20% closing ratio DOES NOT matter if your lead cost is out of wack. I know TV commercial leads close better, but at almost double the cost (assuming $68 for TV leads since I saw that on Digital BGA website, not sure what Senior life TV leads are). If I am already in the 15-20% on prequalified calls, I would have to close around 35-40% on the TV leads to make the same amount.

Sr Life's TV live transfers are $55 each.

 

[theinsuranceman]

On the Senior Life website the Platinum plan is listed below preferred and above standard, is that where it ends up pricewise?

No. Platinum's premiums are cheaper than any other SL whole life plans. You should be asking these questions to your manager shouldn't you? Don't over think this. I know, that's easier said than done.

 

[theinsuranceman]

So you will replace that lead if they do?

I don't generate the leads, SL does. But if one of my agents told me they heard that I would replace that lead out of my own pocket. But it just doesn't happen. Do you have any/much experience working live TV transfers?

 

[Telesales314]

Sr Life's TV live transfers are $55 each.

Thats lower that the $68, but I still would have to close 30% to break even comparatively

 

[tippingpoint]

Thats lower that the $68, but I still would have to close 30% to break even comparatively

Yikes!

 

[theinsuranceman]

Thats lower that the $68, but I still would have to close 30% to break even comparatively

I can't speak about your manager's comments. All I know is the figures that I see every day, every week, every month, and every year from my team. There's quite a few agents who have been doing telesales with SL for a number of years, on my team and other teams. They gotta be making $$$ or they wouldn't still be there, right?

If I had an agent who couldn't close more than 15% of their live tv transfers I'd have them to record a few of their presentations as well as review the training. If 15% closing on live tv transfers was accurate then all the telesales agents would have quit by now.
Actually there may have been some agents who only closed 15% and that's why they left? If an agent follows the system they will be closing 5-9 per 20 live tv transfers.

 

[Telesales314]

I can't speak about your manager's comments. All I know is the figures that I see every day, every week, every month, and every year from my team. .

That wasn't my manager saying anything, that was just the math. This year my lead cost per sale is $181. To keep the same cost per sale at a $55 lead I would need to close 30% just to stay the same

 

[Telesales314]

No. Platinum's premiums are cheaper than any other SL whole life plans. You should be asking these questions to your manager shouldn't you? Don't over think this. I know, that's easier said than done.

We don't offer SL so my manager wouldn't be the subject matter expert, that why I asked you, since you mentioned the plan.

Many carriers level plans are at/below SL super-preferred rates already, so I just don't see the appeal of having one super super super low option to use as an example of 'we have affordable coverage' if not that many people can get it. I don't know the underwriting for Platinum, but looking at the 'ultimate preferred' application its highly restrictive and would rarely come into play with most clients.