Individual Health Closing Techniques??

[Crabcake Johnny]

I get the lead, send that letter and wait about 4 days before I call. It builds a lot of credibility and people are noticeably easier to talk with. I also follow up with letters instead of email and the results are dramatic.

 

[Guest]

I get the lead, send that letter and wait about 4 days before I call. It builds a lot of credibility and people are noticeably easier to talk with. I also follow up with letters instead of email and the results are dramatic.

Do you send the welcome letter by snail mail? Why? Just curious how come you don't use email? I've not tried snail mail.

Do you send the quotes by snail mail as well? How about literature? Do you send that or do you bring that to the meeting?

So you are meeting F2F with every client?

Do you NOT use much email in your practice?


Al

 

[SME]

So what happened? Did you survive the cut?

In the spirit of full disclosure I will tell you that Tar Rat was my employee. I hired him as an agent under me and gave him training and more leads then the majority of agents get. Unfortunatly he didn't work out. Basically 0 sales in a month. As we have discussed before a lead is a name phone number and age. It's what an agent does with the lead that counts. I am not sure if Tar Rat will continue in the insurance industry. I don't think that it fit with his personality. Thank you to everyone who tried to assist him. (he is also my cousin so this was a difficult decision)

A special thanks to Salpro (JR) for his help and encouragement during this.

 

[J.R.]

I'm getting emotional

 

[Crabcake Johnny]

I've never spoken to Tar Rat and hope he does well. I have spoken to a ton of agents over the past few years and overwhelmingly the ones who don't make it are the same ones where someone has to splash a bucket of water on my face after 2 minutes of talking to them.

 

[TXINSURANCE]

About time they receive your letter they already bought from me...

lol...

 

[1ns 4 l1fe]

I view myself as running a major retail store - say a high end clothing store in the mall. You're job as an owner? Generate as much traffic as you can. As a percentage on a busy Saturday how many people go through stores and how many buy. I actually don't know - very low percentage.

Should the owner stand at the entrance, stop every person before walking and and say "let me ask you a few questions before you run around in my store and waste my staff's time."

No. Again, the job is to create a ton of traffic. That's my job. I get 15 to 20 leads a day and create a ton of traffic. By default I find highly interested qualified prospects.

When you don't generate a lot of traffic you second-guess everything; Are you saying something wrong? Maybe I need to re-work "this and that." When you generate a lot of traffic you get this:

"Yeah, I was paying $620 a month and they just jacked me to $780 and we're all healthy. Can you help me PLEASE!"

This is a business and the profit is insane even for a lacking closing ratio. I'm at around 1 out of 15 deals closed and $6 per lead:

$6 per lead X 15 = $90
Average AV = $4,000
Average commish - 20%
So it cost me $90 to return $800

So the question is this; How many "$90's" would you spend to return $800? Do you think ANY small biz owner returns $800 for $90 in expenses?

However, without at least 15 leads a day it all doesn't work too well. I need those 5 deals. Cut those leads in half and I'm at 2.5 deals a week and if one blows up then pay is horrible.

This is prolly in the wrong section but I was reading some old posts and this caught my eye. New to health insurance (have done P&C for 5 years) and have been reading these forums for 2 months trying to get started with the right company. Then I found a company (I think IMO?) offering leads and training but when I sell a IFP I get 90% of the first months premium and 5% renewals. Does this sound right? I have been sucessful writing P&C in the past but dont wanna work hard for someone else. Not sure if Im getting ripped off but I could really use the training. Im in CA. thanks guys

 

[somarco]

90% of the first months premium = 13.3% of the annual premium. That's a major haircut for training and leads.

If you have been selling P&C for 5 yrs you should already have a base to work from.

 

[redzalez]

What kind of lead do you use when you can just wait til they receive the letter? I always thought the faster you contact the lead the better.

 

[GPaq17]

The sooner we get the application submitted, the sooner you will have the coverage. Please keep the following in mind, as you deliberate:

1. The underwriting process takes anywhere from 3 to 6 weeks. It's a "first come, first serve" situation. Your application gets the same attention and time as all the others.
2. Something as simple as waiting to get the physicians' statements can sometimes take several weeks.
3. The quote is only good for 30 days. That doesn't mean that on the 30th day, you call me, and tell me that you are mailing in the application. That won't work. It will get there too late.
4. I've got a link to that company's application on my website. Please feel free to fill it in at your convenience. That will give you the time to find the physician's address and numbers, as well as all the other details you need. (this actually works in reverse - the more time you say you are giving them, the sooner they actually complete it online)

Beyond that, leave the information with them, and tell them if they have any questions, please contact you. Follow up in a month. Move on. There are more people out there.

Great info for the rooks, thank you!