FE Pros: Who Does Annual Reviews?

[theinsuranceman]

Thanks Wino.

Another Update -- Remember the lady who wanted coverage on her son who was in town?

Wrote that bad boy up. Then, just by "showing up," the following happened:

1) My original client said she wanted to take out the same coverage on her daughter when she's up for Georgia; agreed to a $420AP whole life policy. Be back in 3 weeks.

2) As I was wrapping up qualifying the original client's son, she again suggested I ask her fiance whether or not she has life insurance. I called her, and she expressed interest in carrying additional coverage outside her work coverage, both on her and her son. Agreed on a $600AP max between two whole life policies.

So $1040AP -- on policies I would NEVER have had the opportunity to write -- simply by doing an annual review.

Sh*t works, fellas. Can't wait to deliver these policies and stumble upon some more opportunities.

Rearden, I've kinda watched your FE career bloom over this past year. Congrats on making yourself successful in the FE industry.

 

[WinoBlues]

Rearden, I've kinda watched your FE career bloom over this past year. Congrats on making yourself successful in the FE industry.

I have had a chance to talk to him. I am glad he is not starting business in my back yard.

 

[Mattschmidt]

Just go th extra mile and see your clients every once and awhile and good things occur...if you just sell them a policy over the phone and never follow up you are missing out on a fortune

 

[WinoBlues]

Just go th extra mile and see your clients every once and awhile and good things occur...if you just sell them a policy over the phone and never follow up you are missing out on a fortune

I mostly agree, But I have clients that I have sold multiple times that I have never met or met 20 years ago.

But yeah, follow up, mail and phone calls are key.

 

[rousemark]

Thanks Wino.

Another Update -- Remember the lady who wanted coverage on her son who was in town?

Wrote that bad boy up. Then, just by "showing up," the following happened:

1) My original client said she wanted to take out the same coverage on her daughter when she's up for Georgia; agreed to a $420AP whole life policy. Be back in 3 weeks.

2) As I was wrapping up qualifying the original client's son, she again suggested I ask her fiance whether or not she has life insurance. I called her, and she expressed interest in carrying additional coverage outside her work coverage, both on her and her son. Agreed on a $600AP max between two whole life policies.

So $1040AP -- on policies I would NEVER have had the opportunity to write -- simply by doing an annual review.

Sh*t works, fellas. Can't wait to deliver these policies and stumble upon some more opportunities.

This the one I sent you a quote on last night? Forgot to tell you in advance how much my cut would be. Annual reviews work because the easiest person to sell is one you have already sold.

 

[theinsuranceman]

Just go th extra mile and see your clients every once and awhile and good things occur...if you just sell them a policy over the phone and never follow up you are missing out on a fortune

True statement. That's why successful FE tele-sales agents will call the proposed insured/policy owner 6 months after the 1st draft date just to chat.

Maybe only 90% as good as chatting face 2 face, but the improved efficiency of using the phone should outweigh this 10% difference. (Kinda like using the phone to set FE appointments versus unannounced drive-bys when working FE lead cards face 2 face. Using the phone to set appointments you may only write 80% the production you might write if you did unannounced drive bys...but the phone will allow you to write that 80% in only 50% of the time. So when you calculate your profit per hour you find using the phone greatly improved your profit per hour. Same principle.

"Hi Ms. Jones, I just thought I'd take a few minutes and call you to see how ya been doing since I last talked with you a few months ago." Blah,blah, and blah. If Ms .Jones is in a talkative mood give her plenty of line and let her run with it. She'll run out of steam in a little while and then you can gently take control of the conversation again and reel her back in.

This little chit chat will allow you to gently probe and check the interest level for: increasing coverage, other family members, friends, neighbors who may need you to call them sometime in the next few weeks, double check that Ms. Jones has your cell # written down, etc., etc.

Both ways work...as long as the agent will work one or both of these 2 ways.