Final Expense Phone Qualifying Is Working

[Newby]

Are you talking about dropping your own mail drop? What do you consider full price for leads?

Anything from $300 on up per 1,000 pieces mailed is the going rate with Monumental or $375 on up with most other places.

If you are getting FRESH leads at $10 per to $20 per and they are GOOD exclusive leads, you probably have to give up a little commission. They are taking the risk out of your lead cost.

 

[CodyJS]

I always supprise myself when I use the phone. Im always scared of it but when I put forth the effort it seems to pay off. (most of the time).

 

[Rearden]

Wrote 7 apps today on 6 appointments this week, and waiting on 1 MedSupp to get back in the mail.

This was done on finishing up the press-1 leads I originated several weeks ago, a custom DM piece I'm using, referrals, old EFES clients getting more coverage, and aged Securus leads.

My goal is 7-10 apps per week on a total of 30 direct mail type leads, so I'm pleased with this week's results.

Pros of using the phone: I can qualify most in a matter of 3-5 minutes, and decide myself if it's worth presenting my life insurance solution. I am finding the occasional lead that carries on as if they are interested, and eventually I have to disqualify them -- usually those cases take 15-20 minutes, with one that I was on the phone with for an hour (that's a story in itself).

Also, I'm finding it equally if not MUCH easier to actually REACH leads over the phone versus doing door-knocking.

Cons of using the Phone: Despite being vehemently against it personally nowadays, I do suspect I could be missing out on opportunity simply by setting an appointment without qualifying.

Calls tend to last until 8:30PM in the evening, 4 days a week. That's probably more because my lead flow has been spotty getting things going the last few weeks.

My vision is to have a boatload of leads to work every Monday (30+) and call to set totally qualified appointments for Tuesday, Thursday, and part of Friday, leaving Monday and Wednesday, and perhaps part of Friday and in between appointments, for working the phone.

On a side note, as some of you know, Securus resells their Platinum leads to anyone who wants to purchase them after 40 days. Then they become less and less expensive with each successive time period.

I bought a batch of 31 of UNworked Securus leads in a county about an hour away; they were older than 100 days -- each was 5 dollars each, and, so far, I am seeing a similar interest in burial insurance as new Platinum leads. There are some who bought already (Columbian Life is very aggressive in east TN), but many haven't, so if I close 20% of them (6 policies total), I'll be sufficiently happy.

My Phone Pitch: When I call on the phone, I introduce myself and why I'm calling in the typical fashion and open up by asking the lead what they are looking for and how I might possibly could help.

At that point, they begin to tell their logical and emotional reasons for desiring life insurance, and I try to ask pointed questions to draw out any excuses/conditions that will (a) rear itself later, and (b), dig deeper into the emotional reason why they want to buy. "So you must have savings, right?" "Wouldn't your kids want to pay your funeral?" "So, if you were to keel over and die TODAY, what happens concerning paying your funeral bills TOMORROW?"

Once I say all that, I tell reiterate what they're looking for an the emotional reason why to make sure I'm correct. Then, I basically lay out how working with me for a quote works -- I tell them I'm a straight-forward, no-punch-pulling agent. I'm going to give you a quote and coverage amount over the phone in a few short minutes. The ONLY thing I require you to do is to tell me NO if it doesn't work, doesn't make sense, or doesn't fit your budget -- is that OK?.

Then I ask them the kicker question -- Now I know you don't know all of the particulars YET... but if... IF I can qualify you for a program that COMFORTABLY fits your budget.... and gives you enough coverage to satisfy you... would you be willing to move forward with a program over the next 30 days?

The ones that say YES -- I move into qualifying them on health, budget, and program selection. The ones that say anything else I AGGRESSIVELY try to disqualify them, as I've found the ones who say "maybe" or "probably" are the tire-kickers, or REALLY have no true need for coverage.

Most of my qualified phone presentations that lead to an appointment last 20-25 minutes -- at that point, they know how much it'll cost, how much coverage they'll get, and that the program will begin in the following month.

 

[slushpuppyking]

Good stuff Reardon. Hope I'm busy like that one day.

Just curious, why turn away people that don't qualify for FE? Aren't there a few guaranteed issue companies out there you could put them with? I don't know much about guarantee issue but have heard it talked about. I assume the commissions are less, but if someone is really wanting insurance can't you get them something with one of those companies?

Oh and how does Securus work? Can you just buy those old leads from them or do you have to be contracted through them and blah blah blah?

 

[Rearden]

Ya, you have to be contracted with a carrier or two through Securus -- you could put a few of them like UHL or AmAm through them and do OK.

Oh, I'll pitch them GI, only if they have a true, unmitigated need and urgency for life insurance. I've just learned over the months that giving a presentation to an uninterested suspect is a waste of time. I want to qualify them first on need, urgency, ability to pay, and health, with health being the least important.

 

[Norwayguy]

Yes. I have a call center I've worked with that can do the whole thing start to finish. They use the same process for political surveys a lot, just PM me for the information if you'd like it.

Why, I thought politicals were exempt?

 

[gordon112]

Why, I thought politicals were exempt?

I think you can come up with a system to qualify and set the apt then have a system to still Door knock the ones that turned you down over the phone or didn't want to set an apt, maybe do a total telesale over the phone. I guess experiment is key and find a good medium

 

[Josh]

Why, I thought politicals were exempt?

Depends on what it is. They use it a lot for surveys though, so rather than having someone take the survey info, they just do an IVR dump and let them key in their answers. They get a lot more surveys done that way.

 

[b.rockey3]

Not so at all. I know of many EFES agents that have contracts elsewhere.

Yes, you are to use EFES companies when you use their lead to get the business. I wouldn't think of not doing that anyway. But, I do not have to use their leads and can get leads elsewhere if I chose.

I know its not like that these days....

 

[jdeasy]

I know its not like that these days....

I don't know what you mean by that. I am with EFES today and I can still get leads elsewhere.