Great Sales, No College?

[TheBroker]

Hey guys, I have just made it my new goal to sell insurance. I have tons of PR and Sales experience from owning my own businesses, working with racing teams and general sales! I will be taking my exam within a couple of weeks and I wanted to know some things.
Do I start my own indy or go with established company. You see I have no college degree. But I can sell a mini skirt to a "Nun" so I know I could do very well in this industry. I just don't really want to waste any time with unnecessary things. Any input would be great!
Thanks!

 

[moonlightandmargaritas]

But I can sell a mini skirt to a '"Nun" so I know I could do very well in this industry.

While it's a nice "skill" to have, it's not what this business is all about. The successful among us don't use a "sales" model, but an "advisor" model.

Big difference.

 

[somarco]

Selling skills are great, as long as you understand the recommendations you make can have a dramatic effect on someone's bank account when the claims start to hit.

Make a bad PR recommendation and no one shows up at the race.

Make a bad recommendation on an insurance policy and someone doesn't get their claim paid. This is especially true with almost all lines except life. As long as they did not lie on the application, if they are dead, the carrier pays.

Not so with health insurance.

Don't know what lines you are targeting, but each line requires a different skill set.

What drew you to insurance and what lines of coverage are you considering?

 

[TheBroker]

I was Looking to start with Life & Health Insurance.

 

[myinsurebiz]

The "doctor" said all the right things to show you that selling health insurance is a pain in the ass.

Yes - health insurance is necessary - but let the "advisers" do it . . .

You're a "salesman" - sell Life. Easy Issue Life at that.

Sell Life Insurance - it's so much easier. Hardly any follow up and if they keep it the first year - your chances are pretty good they'll keep it for the long haul.

Go into this knowing that 1 out of 4 clients are going to cancel their policy sometime in the first year - and just keep selling.

The key in my mind is constantly selling. If you average 4 sales a week - strive to do 4 every week - don't stop till you do.

Good Luck,

Tom

 

[moonlightandmargaritas]

Do you have have anything to post besides your boilerplate "recruiting" post?

 

[myinsurebiz]

Paul,

The OP said he didn't want to waste time with unnecessary things - so, I pointed him into the Life Insurance game.

I know you have a problem with my sig - but it's no different than the rest of the peeps - but I toned it down a bit.

Tom

 

[David C]

Maybe myinsurebiz was saying that 25% of what he sells cancels in the first year. And I'm sure that the cancellation rate is higher with new agents, but if 25% of my business lapsed every year I'd quit!

 

[somarco]

if 25% of my business lapsed every year I'd quit!

Nothing like working 12 months and only getting paid for 9 . . .

 

[myinsurebiz]

We see 25% or less on a monthly average in the Easy Issue Life sales arena - can't dodge a proven number.

But it's not just my group - it's others as well in TeleSales. 25% is the max however - if it's less - then consider it a bonus.

I'm not about "pie in the sky" hype. We tell it like it is. Agents know it going in - so when it happens - they don't hear SURPRISE!

This % is chargebacks and non taken combined. But - since the carrier advances on "issued" and not so much "paid" - some chargeback before the policy arrives in the mail box.

Just the nature of the beast . . .

Basically - on the worst result - sell 4 each week - use 1 to offset the chargeback.

Good Luck,

Tom