Final Expense Phone Qualifying Is Working

[Justin Bilyj]

Is this the new success by phone FE thread? I bet this goes 6 pages by the weekend...
Joking aside awesome job Dave.
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Is this the new success by phone FE thread? I bet this goes 6 pages by the weekend...
Joking aside awesome job Dave.

When do you try the prequalifying via telemarketed leads you were doing awhile back?

 

[Rearden]

Could you clarify?

Update -- my 11AM for today cancelled; actually, I called to confirm her at 10:30 and she said her daughter said she had enough. I seem to have the most trouble with the under $30/month budget prospects sticking.

My no-show from yesterday rescheduled for next week (tentatively). My 6PM might not stick today, as the lady's aunt is gonna die any time now.

Talked to one dude who's interested in a policy on himself (maybe) and his wife (definitely). Also wanted to take coverage out on his brothers in Memphis. He knows what price he's paying and reaffirmed several times he's "definitely interested," and will try to schedule for Friday.

Disqualified several leads that aren't worth gas and time for a visit.

Is this the new success by phone FE thread? I bet this goes 6 pages by the weekend...
Joking aside awesome job Dave.
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When do you try the prequalifying via telemarketed leads you were doing awhile back?

 

[0b1kanobee]

Love the concept - I've always said qualify 'em, qualify 'em and then qualify 'em again, but I think you'd be wise to measure the twelve month persistency of this business before coming to any conclusions.

That's old school. Dave uses a proprietary gut instinct algorithm now. What used to take 12 months to figure out, he does in a matter of seconds.

 

[somarco]

She had a quote for $45 for $7500 in coverage. I said, "Ma'am, that sounds like a pretty good price, why not go and do business with him?" Surprisingly, that pissed her off and told me it was none of my business to ask, and she hung up on me.

Sounds to me like she was bluffing, which is another way of blowing you off. She didn't like it that you called her bluff.

You did the right thing.

I find out what they are paying now for their current coverage. If they don't want to tell me, that is the end of our conversation. If they do tell me, and even if it doesn't sound credible, and I can't beat it I tell them that is what they need to buy.

Most of the time that works for them. Some times I will come back with something like "Did that other agent show you how to get better VALUE with this kind of plan?"

About half the time it gets me back in there, the rest, no.

Once I figure out how to record a call on my PC

Personal Call Logger, Personal Call Loggers, Recording, Hello Direct

I seem to have the most trouble with the under $30/month budget prospects sticking.

Probably because they weren't good prospects from the start. I don't work the FE market but if I did I just can't see investing a lot of myself for premiums less than $30 per month.

For some I suppose that is low hanging fruit but to me, if that is all you can come up with it probably won't stay on the books very long.

 

[360]

About selling the policy over the phone...

Plus, there seemingly aren't a lot of competitive FE companies that you can do over the phone or through the mail. Equitable... Forethought. I know you can mail Americo sight unseen, American Memorial, too. But I wish I could get Monumental through the mail.

Exactly, the companies with a good process like Forethought, Equitable and American Memorial don't have great product and the carriers like Foresters that have great product have a very limited number of states that you can do it in and the process itself is brutal.

 

[theinsuranceman]

Could you clarify?

Update -- my 11AM for today cancelled; actually, I called to confirm her at 10:30 and she said her daughter said she had enough. I seem to have the most trouble with the under $30/month budget prospects sticking.

My no-show from yesterday rescheduled for next week (tentatively). My 6PM might not stick today, as the lady's aunt is gonna die any time now.

Talked to one dude who's interested in a policy on himself (maybe) and his wife (definitely). Also wanted to take coverage out on his brothers in Memphis. He knows what price he's paying and reaffirmed several times he's "definitely interested," and will try to schedule for Friday.

Disqualified several leads that aren't worth gas and time for a visit.

The ones that you disqualify on the phone....I'd like to take a shot at them with tele-sales. If interested tell me what's fair.

 

[nfl72]

75% of my business is pretty much firmed up before I get there. They know what to expect and how much its going to cost. They know its whole life not term, they know the payments are guaranteed to never change, they know its a cash value account that builds value and they also know that more than likely they will be fully insured from day one.

Before I get there they know why they don't want AARP, Globe and the others. When I get there I do nice warmup and then do a recap, fill out the app and call it in.

I beleive by going to the home and spending time with them you have a greater chance of keeping them on the books. Its also a great time for referrals.

When I buy 25 leads I expect to write 10 to 12 policies. Leads cost about $13 a piece. I like firming them up on the phone because most of the time I am working 75 miles from my home.

While I do agree giving them too much information over the phone can cost you some business it's overall for me a much more enjoyable way to make money.

 

[FEproducerKen]

75% of my business is pretty much firmed up before I get there. They know what to expect and how much its going to cost. They know its whole life not term, they know the payments are guaranteed to never change, they know its a cash value account that builds value and they also know that more than likely they will be fully insured from day one.

Before I get there they know why they don't want AARP, Globe and the others. When I get there I do nice warmup and then do a recap, fill out the app and call it in.

I beleive by going to the home and spending time with them you have a greater chance of keeping them on the books. Its also a great time for referrals.

When I buy 25 leads I expect to write 10 to 12 policies. Leads cost about $13 a piece. I like firming them up on the phone because most of the time I am working 75 miles from my home.

While I do agree giving them too much information over the phone can cost you some business it's overall for me a much more enjoyable way to make money.

Are your leads Telemarketed leads?

 

[nfl72]

press one. the last time I used telemarketed leads was from YAL. Unfortunately most of the time, the live people making the calls for YAL were pretty much retarded. I think they were from the McCoy clan in North Carolina.

 

[TDFnCali]

75% of my business is pretty much firmed up before I get there. They know what to expect and how much its going to cost. They know its whole life not term, they know the payments are guaranteed to never change, they know its a cash value account that builds value and they also know that more than likely they will be fully insured from day one.

Before I get there they know why they don't want AARP, Globe and the others. When I get there I do nice warmup and then do a recap, fill out the app and call it in.

I beleive by going to the home and spending time with them you have a greater chance of keeping them on the books. Its also a great time for referrals.

When I buy 25 leads I expect to write 10 to 12 policies. Leads cost about $13 a piece. I like firming them up on the phone because most of the time I am working 75 miles from my home.

While I do agree giving them too much information over the phone can cost you some business it's overall for me a much more enjoyable way to make money.

You're closing 50% of your DM leads?? Wow, thats unheard of from what Ive been told...even top guys dont have that type of closing ratio & they are only $13?? I was told EFES top guys consistently close 35% over the long haul & thats the cream of the crop. I try to close 25%....so thats your normal every month closing ratio??