Info for Newbies and Questions for the Pros

[busop1]

I appreciate all of the help this forum has offered me and will attempt to give back some in this 2 for 1 thread.

For the newbies:

I have done my research much thru this forum and suggest you do the same by READING and making your own decisions based on your research. I do not feel I am in a position to give any endorsements at this point but do know now who the heavy hitters are on this site from READING and by making contact off site. So here goes with my effort to give back some that may benefit a newbie.

I had 1 year experience as a captive with AGLA 12 years ago but have not worked insurance for the last 11 years but have been self employed in NC ever since. I have now obtained a few appointments as an independent with contracts at 110% for final expense and have bought telemarketed FE leads at 20 for $440 all through this sites contacts. I also still have some other self employ income on side too but am planning to transition almost fully to life sales eventually and will be adding med supps shortly perhaps.

2 weeks part time FE only
4 - 1/2 days @ 4 hrs each in the field = 16 total hours in field
13 leads provided so far (other 7 yet to come tomorrow by my selected schedule)

2 - could not get in the door (1 thought it was her insurance co calling and not a new agent / other was drunk at 10 am when I showed up next day may have been at time of lead call but I will call on him again in week or two he may not even remember I was there lol...)
5 - have not presented quote yet (2 made contact with / 3 no contact yet other than doorhanger)
6 - very relaxed conversational presentations (4 total apps written off 3 leads)
I door knocked all except 1 of my presentations which I set by phone - ( 2 attempted presentations I set by phone cancelled on me day of appointment which are included in my 5 have not presented quote yet above) ( All my door knocks and attempted appointment presentations have been made to accommodate my schedule to this point)

$2130 in AP = All face to face = 3 Monumental & 1 Presidential apps all issued as submitted
I provide additional info when I can on app as my relationship with carriers is important to me
Yes I carry E&O - crazy not to for the cost - if money is tight for you write 1 app get paid buy E&O if you are serious about this - I dont care what anyone says on this I have been self employed for 11 years and am pretty good with people but pissed off people say whatever they want and will try and cause trouble thats all there is to it!

All my leads have been with low income African-Americans ( I am white) in zip codes in metro area 30-45 min drive from my rural home. Metro area is about 300k population 50-50 white/black. I am familiar with area as I have owned rental property there previously and am not intimidated by the area/ people just pay attention to surroundings. I use my 15 yr old car that gets 38 mpg and dress in wal-mart slacks and polo with badge hanging from neck - I only add this as newbies ask as did I also wonder but dont over think it just try to fit in to your leads surroundings. All these folks have been welcoming to see me and I enjoy feeling like I am helping them as I know I am offer them a service they want and need.

For the PROS:

All my apps have been written on leads that had NO INSURANCE when I got in the door - this is where my questions come in?? Is this normal or do you believe my persistency is destined for failure?? Or I am just there at right place right time? I have heard agents say they love leads that own insurance - well so far I am loving leads that don't...

My other presentations that I have not sold I am not given up on will follow up and may sell 1 or 2 - but two of 3 did have some coverage and 1 did not??

I am taking 75% advance and only counting on 75% to stay on books to be safe but do feel my relationship building is best as can be expected and am following up with cards...

I also am looking into internet dialer software to create my own leads and Baltimore Life contract to offer phone sales in conjunction with field sales and perhaps eventually transition from field to phone fully (to work with my other interests/investments)?? Your thoughts??

All input is appreciated honestly - I just ask please leave the fighting/bickering/di*k measuring/and otherwise off topic arguing for another forum especially when comparing phone to field sales - Not being disrespectful to anyone I just know there are some strong opinions on this forum about this comparison but I have learned alot from all you guys and appreciate it! Lets just try and keep it constructive and informative for all readers. I look forward to all your on topic expertise sharing.

Thanks so much

 

[jdeasy]

It seems that you are working the natural FE market. The projects are your friend once you get an "in".

Most of my sales are to people with no insurance before I get there. I do love to run across the ones that do have insurance already. That's mostly referrals where I get those. That's two good things at once. They are referrals so basic trust is already established and most of them have insurance so they are buyers and they have bank accounts.

 

[busop1]

Thanks for feedback JD

That puts my mind at ease knowing with all the business you write that most of your sales are also prior no insurance in place...hopefully I just keep doing what I'm doing and eventually some referrals will come

 

[Rearden]

You're doing fine.

My recommendation is to pass on MedSupps until your 100% comfortable selling FE -- and that means carrying the top 7-10 carriers and knowing them back and forth.

Make sure you're willing to work some nights -- that's game-time for most of us.


-Dave

 

[Mario1]

To Busop1 - Do you mind sharing the TL co. that you've been using? I'm also an independent, currently selling mtg protection here in FL and really want to establish a lead system for FE sales as well (and NOT join a big marketing group - learned that lesson a long time ago!) Thanks

 

[Wtprice]

You're doing fine.

My recommendation is to pass on MedSupps until your 100% comfortable selling FE -- and that means carrying the top 7-10 carriers and knowing them back and forth.

Make sure you're willing to work some nights -- that's game-time for most of us.


-Dave

I kind of think opposite, MedSupps are hands down the easiest way to get FE leads. Once you make the MedSupp sale (especially if you've saved the client money) the transition into FE is simply asking the client if they'd like to reinvest a portion of their savings into an FE plan. You're not asking for new money, but money they've already been spending. However, marketing FE first is asking for money that hasn't been spent yet.

Just my .02

 

[Rearden]

That works well, too, but I'm referencing leading with FE, as opposed to leading with MedSupps.

I kind of think opposite, MedSupps are hands down the easiest way to get FE leads. Once you make the MedSupp sale (especially if you've saved the client money) the transition into FE is simply asking the client if they'd like to reinvest a portion of their savings into an FE plan. You're not asking for new money, but money they've already been spending. However, marketing FE first is asking for money that hasn't been spent yet.

Just my .02

 

[Mario1]

Do any of you FE Gurus know a reputable direct mail house that does FE mailers that actually mentions the word "insurance" and doesn't try to hoodwink the seniors into thinking they're getting something for free? Or is this not allowed on the forum?

 

[busop1]

in interest of full disclosure 2 of my sales have come back as insufficient funds!! so 2 all newbies i would look at other avenues for lead generation as my 2 drop policies were in same household you may be better off generating your own leads!! perhaps by phone
- - - - - - - - - - - - - - - - - -
fortunately for me i have other means of income...but as i type i am pissed at the clients as i have followed up with them...they were in same household...so maybe that is some of the answer...but if at all possible my thought is dont waste time with paid telemarketed leads??? who knows maybe just venting??? ..
- - - - - - - - - - - - - - - - - -
i will proceed with attempting to generating my own leads by phone instead of investing money in others developing my leads for me...again i am not blaming this on others leads but perhaps just circumstances and this is why i elected not to endorse others leads at this point...any feed back is wlecome... thanks

 

[Rearden]

Hey... pretty humble of you to follow up on this.

You never know sometimes. We've dropped mail in a small town in north Georgia; wrote 6 apps that all NSFed or cancelled.

Don't throw the baby out with the bathwater....