FE Persistency Lead/non Lead

[rousemark]

Has anyone noticed any difference in their persistency between sales that were the result of a mail or internet lead and sales that were developed through referrals or canvassing?

It would seem that since most internet leads are shared you would have a problem with agents coming in behind you.. Or, in the case of direct mail leads, the client mails in card after card always looking for a better deal.

However, if you developed the lead through canvassing or referral, other agents don't have the access to those clients and they are not the serial mailer type. It would seem you would have less problem with attempted replacement on this type of client.

 

[TwiLight]

Has anyone noticed any difference in their persistency between sales that were the result of a mail or internet lead and sales that were developed through referrals or canvassing?

We have noticed an improvement in our persistence with exclusive Live Telemarketer leads that our agents use over Mail leads.

This may be just a coincidence or the fact that we control the lead from the beginning with little time lapse from contact to agent calling for appointment. (usually 24 hours).

 

[Rearden]

JDEasy will validate this. Royal Neighbors of America's top producing AND highest-persistency agent (94%) ONLY works door-knocks and referrals. Personally, the quality of the referrals' persistency I get is equivalent to that of direct mail leads. But I don't close hard on folks who persist on being broke, either.

 

[rousemark]

JDEasy will validate this. Royal Neighbors of America's top producing AND highest-persistency agent (94%) ONLY works door-knocks and referrals. Personally, the quality of the referrals' persistency I get is equivalent to that of direct mail leads. But I don't close hard on folks who persist on being broke, either.

I understand.. But what I am wondering about is agents coming in behind you and replacing the business you have written. Is it more likely to happen when you have written the business off a lead?

 

[jdeasy]

I understand.. But what I am wondering about is agents coming in behind you and replacing the business you have written. Is it more likely to happen when you have written the business off a lead?

I do seem to have a bit better persistancy from referrals than from leads, but I don't track that stuff. May just be my imagination.

I don't get replaced hardly at all. From lead business or referrals.

If you put people in the best situation based on their helath, age, gender and tobacco use, they really can't be a reason for replacemtn. Except for someone selling them term or UL instead of whole life. I educate my clients as to why I'm putting them on a whle life plan for burial instead of term or UL so I don't get those kind of replacements either.

Just had one where I put a guy with whole life. He and his daughter were there and I went over everything. About 2 months later I get notice of replacemtn. When I checked into it the son in law that wasn't there when I was there thought it was too expensive and help him get AARP term. Once I went back and explained everything to the son in law that I had gone over the first time he went back to the whole life.

Now, if someone is running shared leads and not doing due diligence for the prospects I'm sure they wil be replaced often. I know a replace a bunch of those, so to those agents, I say, thank you!

 

[Newby]

I do seem to have a bit better persistancy from referrals than from leads, but I don't track that stuff. May just be my imagination.

I don't get replaced hardly at all. From lead business or referrals.

If you put people in the best situation based on their helath, age, gender and tobacco use, they really can't be a reason for replacemtn. Except for someone selling them term or UL instead of whole life. I educate my clients as to why I'm putting them on a whle life plan for burial instead of term or UL so I don't get those kind of replacements either.

Just had one where I put a guy with whole life. He and his daughter were there and I went over everything. About 2 months later I get notice of replacemtn. When I checked into it the son in law that wasn't there when I was there thought it was too expensive and help him get AARP term. Once I went back and explained everything to the son in law that I had gone over the first time he went back to the whole life.

Now, if someone is running shared leads and not doing due diligence for the prospects I'm sure they wil be replaced often. I know a replace a bunch of those, so to those agents, I say, thank you!

I had the exact same thing happen with AARP term this week. They were going to cancel and buy it. I had to go back and re-explain it and now they understand.

I did find out that AARP is changing their "permenant Life" to whole-life. So far it's only approved in 7 states. But it's comming.

They must be reading the forums and learning how they are getting killed out there.

 

[BenS]

I had the exact same thing happen with AARP term this week. They were going to cancel and buy it. I had to go back and re-explain it and now they understand.

I did find out that AARP is changing their "permenant Life" to whole-life. So far it's only approved in 7 states. But it's comming.

They must be reading the forums and learning how they are getting killed out there.

Have you seen what the pricing looks like? Is it still a simple app?

 

[TDFnCali]

I had the exact same thing happen with AARP term this week. They were going to cancel and buy it. I had to go back and re-explain it and now they understand.

I did find out that AARP is changing their "permenant Life" to whole-life. So far it's only approved in 7 states. But it's comming.

They must be reading the forums and learning how they are getting killed out there.

Seriously?? "Thats NOT going to be good for anybody" <Seinfeld>

 

[exLeadJunkie]

Buying leads assumes you aquired the client through means other than initial personal contact ... the assumption continues you will not keep that business on the books because you have very little skin in the game of aquiring that lead. And yes, there are always exceptions.

 

[mlg]

Just ran a quote through aarp/nylife website. It was 185.00 a month for 25k based on my mother who is 72 and in perfect health. That was with there permanent plan which is 2500 to 50k. Also ran their guaranteed up to 15k. I ran for the max 15k and it was 123.00 a month. No health questions answered though, just age, sex and location.