Guidance for New Life Agents

[DHK]

Well, you can't be a perfect poster with over 2,000 posts... unless you have the name "Client Advocate".

I've just put my neck out more often than most with the things I've posted.

I do try to learn from my lashings... unlike a certain "Ace Planner" that was on that board a few years ago.

 

[xrac]

Well, you can't be a perfect poster with over 2,000 posts... unless you have the name "Client Advocate".

I've just put my neck out more often than most with the things I've posted.

I do try to learn from my lashings... unlike a certain "Ace Planner" that was on that board a few years ago.

Most of us who have been there any time have gotten our lashings except for CA. I think Rick respects CA too much.

 

[sshafran]

Thanks for the well thought-out posts. I read the forum a lot, but this is the first thread that I've ever printed for continual reference. Good stuff, thanks.

 

[somarco]

Only mistake you made is in giving this OUTSTANDING advice available for free. Should have turned it in to an eBook and sold it.

Of course you would also need to get heavily into self promotion, head banging and acting like a rock star . . .

 

[lucasr]

Great post. Thanks for the insight. I too will be printing it for future reference!

 

[Full Throttle]

Great post DHK! Agree with most of it. I've openly shared that I failed my first go around in the life/securities channel. Too smart for my own good, over analyzed, looked down on leading with product over process, and in the end, didn't see enough people.

I found health insurance, led with a commodity product, called on a lot of people, and started seeing results. Now I'm back full time in the life/securities side, doing things much different. I lead with calling myself a life insurance agent and go from there.

The funny thing about life insurance, there are plenty of people who want it if you ask them. Unless they are a recent college graduate getting called on by their college buddy that started at NML, most haven't been approached by a life insurance agent in years. But they get calls all the time from "financial advisors" (many of whom are life insurance agents in the witness protection program).

Here was the advice I got from a top of the table producer that I ignored when I first got in the business. At all times, have three concepts/product ideas that get you excited. It's okay to have one you lead with, but have two back-up ideas that you can talk intelligently about. Then run like hell finding people who are suitable for your idea and receptive to talking. Rinse and repeat.

 

[DHK]

But they get calls all the time from "financial advisors" (many of whom are life insurance agents in the witness protection program).

That is freakin hilarious! Love it!
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Only mistake you made is in giving this OUTSTANDING advice available for free. Should have turned it in to an eBook and sold it.

Of course you would also need to get heavily into self promotion, head banging and acting like a rock star . . .

Maybe one day... (believe me I've thought about it).

However, TALK is cheap. Books are cheap. The only thing that matters is what people DO with it. Hell, it only matters what I do with it.

 

[sluggo08]

This is another perfect example of why there is absolutely no reason to go with a captive life insurance carrier. Get some really good independent contracts and start pounding pavement!

 

[Krista8184]

Thanks,fantastic post for a newbie like myself. Do you have any specific advice on how to get in front of enough people to submit 200 term apps? TIA, Jim

Jim,

DHK gave you some really good advice about getting lots of no's so you can move on to the yes's. I would also encourage you to turn the no's (and yes's) into opportunities to get referrals. Referrals don't cost you anything but time. AND they have the added benefit of most people don't tend to act like jack*sses if they realize you know someone who knows them. So it helps you to get a foot in the door a little easier.

DHK is absolutely right when he says that so many managers will try to get you out of the habit of saying that you're a professional insurance agent and try to get you to say things, such as, 'I am an insurance consultant' or something else that makes it sound like you're not trying to sell them anything. You absolutely SHOULD let your prospects know that you are an insurance agent, you have a product to sell, and you think they have a need for it. If you have to hide who you are and what you do, it sounds like you're unethical and trying to trick someone into buying something they don't need.

And then...they might not have a need for it. So, treat it as the opportunity to get referrals; because, it IS an opportunity! By the time you have assessed that they don't have a need for your product you have, more than likely, built up enough of a relationship with them to ask if you can help someone they know. They will respect that you didn't push them into buying a product that they didn't need and will realize that you will probably extend the same courtesy to someone they know; hence, they will usually give you a few referrals. I definitely like to get referrals from people whom I have been able to help. But I think it speaks volumes when people who didn't buy anything from me think that I'm smart enough, professional enough, personable enough, helpful enough, etc., that they're willing to allow me to use their name to talk to their friends or relatives.

 

[scottstreet]

Joining NAIFA was mentioned. With expenses in mind why is this important for a newbie? TIA, Jim