Fliers to Hang in Apt. Buildings
- Thread starter Jack B
- Start date
- 4,306
An old system whereby an agent physically collects payments directly from the policyholders.
If you're working in a lower income urban community, this is especially effective. Many don't have checking accounts, or prefer not to have automatic drafts. Often, when you set up a client who may lack the discipline necessary for EFT to be effective, you wind up with a lapse & persistency problems. If you physically pick up the premium, you avoid some (not all!) of that.
The real benefit to the agent is in getting to know your clients by seeing them at least monthly, and becoming more visible in their community. Over time you become "The Insurance Man" for that community. That makes it a lot harder for competitors to penetrate that particular community.
Of course it's a more service intensive system. Companies like Columbian recognize this and compensate the agents for it with lifetime service commissions that are considerably higher than FE policy renewals (which is another major benefit - it's possible to build up this kind of agency, in just a few years, to the point where your primary income is from your service commissions).
Now, in my opinion, Liberty Bankers Life is the best company going for that type of business, but they're not available in New York. However, New York is Columbian's home state (home office in Binghamton). They have different divisions for Final Expense & Home Service. I'd try to get with both. Their website is: www.cfglife.com
(Ipromise I don't work for them! Not recruiting, just trying to be helpful.
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- 2,758
An old system whereby an agent physically collects payments directly from the policyholders.
If you're working in a lower income urban community, this is especially effective. Many don't have checking accounts, or prefer not to have automatic drafts. Often, when you set up a client who may lack the discipline necessary for EFT to be effective, you wind up with a lapse & persistency problems. If you physically pick up the premium, you avoid some (not all!) of that.
The real benefit to the agent is in getting to know your clients by seeing them at least monthly, and becoming more visible in their community. Over time you become "The Insurance Man" for that community. That makes it a lot harder for competitors to penetrate that particular community.
Of course it's a more service intensive system. Companies like Columbian recognize this and compensate the agents for it with lifetime service commissions that are considerably higher than FE policy renewals (which is another major benefit - it's possible to build up this kind of agency, in just a few years, to the point where your primary income is from your service commissions).
Now, in my opinion, Liberty Bankers Life is the best company going for that type of business, but they're not available in New York. However, New York is Columbian's home state (home office in Binghamton). They have different divisions for Final Expense & Home Service. I'd try to get with both. Their website is: www.cfglife.com
(Ipromise I don't work for them! Not recruiting, just trying to be helpful.
Yup. I did that for a few years. There are fringe benefits associated with this also. If you save the best cooks to collect around dinner time someone will invite you to fill up a plate. "Hey grandpa, what's fer supper"?
- 4,306
Sometimes that's a fringe benefit. Sometimes it's an invitation to visit the emergency room later!
I'm honestly scared to eat fried chicken that gets pulled out of the cupboard, not the fridge! And I've been in some kitchens that I wouldn't let my dog eat in! (Fortunately, this is the exception, not the rule.)I used to get a lot more of that years ago when I worked in the country than I do nowadays in the city. But it's still a great way to do business. Old fashioned but still works. And did I mention easy referrals?
- Thread starter
- #45
Sometimes that's a fringe benefit. Sometimes it's an invitation to visit the emergency room later!
I used to get a lot more of that years ago when I worked in the country than I do nowadays in the city. But it's still a great way to do business. Old fashioned but still works. And did I mention easy referrals?
Thanks Shonceman for the info, I'm thinking though it would be a nightmare, chasing down the clients, call them, schedule when to meet, to pick up premiums, most FE clients are pretty flaky, it takes half a miracle to reach them on the phone to schedule them for appointment, then when they are already scheduled, many stand you up, & are no shows.
- 4,306
Schedule? What's a schedule?
Seriously, I know what you mean. I learned early on that we're dealing with many undisciplined people. Sometimes it seems like you set an appointment just so they'll know when to not be there!
Do you ever just show up? "I just got this card (that you're showing them) in my mail, where you requested info on Final Expense Life Insurance. I was in your neighborhood today, so I thought I'd stop by to go over the info with you." Most will let you in.
- Thread starter
- #47
Schedule? What's a schedule?
Seriously, I know what you mean. I learned early on that we're dealing with many undisciplined people. Sometimes it seems like you set an appointment just so they'll know when to not be there!
Do you ever just show up? "I just got this card (that you're showing them) in my mail, where you requested info on Final Expense Life Insurance. I was in your neighborhood today, so I thought I'd stop by to go over the info with you." Most will let you in.
The people my appointment setter cant reach, I doorknock, if they are not home I leave them the yellow sticky note, missed important delivery, with my appointment setters phone # most of the time they call back, I have gotten a nice couple of appointments through the sticky note.
- 4,306
- 2,758
Sometimes that's a fringe benefit. Sometimes it's an invitation to visit the emergency room later!
I used to get a lot more of that years ago when I worked in the country than I do nowadays in the city. But it's still a great way to do business. Old fashioned but still works. And did I mention easy referrals?
Now, I did say GOOD cooks.
that is a good example....keep it simple and put a nice picture of yourself on the flyer....black and white is fine. 5,000 minimum flyers.....hit the "hamburger helper" neighborhoods....skip the high end hoods....let me know how it goes if you do it.
