Is anyone buying Mortgage Protection ledas?

[bill3173]

Bill3173, who do you reguarly put your mp business through?

Depends on the age and health of the applicants. I use LI, Fidelity and Assurity for non med. AIG, WCL, RBC, Prudential et al. too many to mention, depending on the situation.

 

[ims01]

Why would you go bankrupt? I regularly buy them and spent $600 on the last batch and made $8500 in commission. It doesn't always work out that way, but on average, I make 6:1. If I go bankrupt, it won't be from MP leads.

You mentioned the total spent, but not the lead price. If you paid the $40 per lead that I said would bankrupt you, then you bought 15 leads. If you generated $8500 NAP (at 100% contract) from 15 leads, you are doing a great job! That means you closed every lead with an average of $566 premium. It's more likely that 15 MP leads generate $1800-$2500 in premium.

I'm guessing you paid less than $35-$40 per lead and perhaps you have an exceptional contract level.

Whatever the break-down, a 6:1 ROI on an MP lead is very respectable. Good Job!!

 

[bill3173]

I'm guessing you paid less than $35-$40 per lead and perhaps you have an exceptional contract level.

Whatever the break-down, a 6:1 ROI on an MP lead is very respectable. Good Job!!

Well it got better today. One of the applicants(already placed), called me this morning to let me know he is completing the apps that I sent him, on his adult children.

You are right about the $40 per lead, but I only closed 4 of them. However excluding the call today, there were 6 applications taken, at higher than average premium due to age and health. The best response that I get off of these are the older clients anyway. Younger people with jobs and computers flock to the internet. Thanks for the atta boy.

 

[annuityseller]

Did I miss it or where do you get your MP leads or life leads??

 

[SalemInsuranceGuy]

Here's an idea: sell life insurance, not mortgage protection. It's a good idea, been done for 100's of years.

Well most of those people don't respond to life insurance ads. They only respond to mortgage protection ads. Last I checked mortgage protection was life insurance wasn't it? These people aren't your high end financial planning type clients. For the most part they're new home owners or just refinanced and have little to no life insurance outside of work and maybe some tiny whole life policy some agent sold them. Most responded to the "mortgage protection ad" because they saw they didn't have to take a medical exam and they have some health issues like being overweight, on cholesterol meds, blood pressure meds, anti depressants, etc.. They also responded because they may have seen they can be protected in case of a disability, which can be an added rider, and unemployment waiver of premium so they can keep their policy if they lose their job. That's their main concern. When you sell these people you're not doing financial planning or needs analysis. You're basically covering the loan pay off in case of death, the monthly payment in case of disability, and paying their policy if they lose their job. Someone has to take care of this underserved market. A high percentage of them will be non med which will be higher premiums, quicker issue, and cash flow for the agent. If we can protect them and their families so they don't lose their house and make some money in the process isn't it a good deal for both agent and client?
- - - - - - - - - - - - - - - - - -

[/color] I've ran too many appointments sitting with tire-kickers and people who hadn't a serious bone in their body about protecting their family if was going to be over $25/month. They value their premium satellite package ($90) much more than the wellbeing of their own children.

Those were my old NAA leads they resold to you Tim.

 

[nka245]

+1

I agree, as well with the exception of the spelling of prepared.

 

[padthaiforlunch]

preparred

That's pirate speak.

 

[annuityseller]

I still didn't see where you get the leads bill 3173??