Life Insurance Sales Old School Door to Door

[scagnt83]

I'd rather educate and add-on to someone who already has it, than convince someone who doesn't have it, the value and importance of it.

Exactly.

NYL taught us not only assume they have existing coverage, but when they bring it up, you say "great! how much is your family protected for?".

If they own it already, that means they already see a need for it and some type of value in owning it. And most who have it are underinsured, or they can find a longer term policy for the same price, etc. etc.

Lots of other reasons behind this method. But a prospect already owning insurance is a good thing, not a bad thing. At least generally speaking it is.

 

[aikenhealth]

Just did not realize this was still a active sales model - learn something new every day

 

[Justin Bilyj]

Exactly.

NYL taught us not only assume they have existing coverage, but when they bring it up, you say "great! how much is your family protected for?".

If they own it already, that means they already see a need for it and some type of value in owning it. And most who have it are underinsured, or they can find a longer term policy for the same price, etc. etc.

Lots of other reasons behind this method. But a prospect already owning insurance is a good thing, not a bad thing. At least generally speaking it is.

BINGO! But I like the more direct (and swiped from IFP), "great, that means you see the importance of having life insurance. Real quick question, do you know in terms of monthly income how much you will be leaving your wife and kids? No? How do you feel about that?"

The NYL although still great, has the roundabout way of getting to a more direct question. "how much is your family protected for" leads into discussing why they chose the amount, then asking for an appointment if things have changed, or they need a review etc. I like the one above, it hits hard and fast...

 

[DecisionMan]

In 2012 I took a newer agent out to door knock a subdivision for life insurance.

He had been complaining about his progress, which in my view means he either had little training or little motivation. So we went door-to-door in a middle-class neighborhood of ranches and tri-levels on 40 to 60 foot wide lots.

We wore slacks, shirt & tie and walked with a very small kit - basically looking to open up cases and if possible write some simple term.

For those who were home, we got in 5 times and sold 2, and opened 1 good planning case.

Basically the line was "my name is so-and-so and we help people who are concerned about replacing lost income in their household, and running out of money. Is that something we should be talking about?"

Of course most people said no, which was fine. But either way the response is, "before we leave may I ask if you personally own your life insurance or does your employer?" Given the brief lull while they try to absorb the question we'd interrupt with "you do have life insurance, don't you?"

Most of the time the answer was no, and it was easy to simply ask to step in and show them a few options.

This kid never made it in the business, but being on the street that day sure felt good. Plus, the planning case ended up being a small annuity.

So for those that can't afford leads, there's nothing wrong with just doing what it takes to see the people. If you're not talking to people, you'll never make a sale.

 

[MaxReaver]

For those who were home, we got in 5 times and sold 2, and opened 1 good planning case.

Just shows there is money out there for the making...

Did you write the two policies that same day? What kind of day did that turn out to be from a AP standpoint (if you recall)?

 

[DecisionMan]

Just shows there is money out there for the making...

Did you write the two policies that same day? What kind of day did that turn out to be from a AP standpoint (if you recall)?

Long time ago but combined it was around $2500 in AP, written same day.

So figure we did about 4 streets, not-at-homes, brush-offs, then the time to fact-find, sell, and write two cases it was a decent amount of time. We hit the territory at 10 am and worked until about 6 then drinks and an hour drive home.

 

[MaxReaver]

Long time ago but combined it was around $2500 in AP, written same day.

So figure we did about 4 streets, not-at-homes, brush-offs, then the time to fact-find, sell, and write two cases it was a decent amount of time. We hit the territory at 10 am and worked until about 6 then drinks and an hour drive home.

With some good contracts, that is a $2000+ dollar day! Not bad for a few hours work

 

[DecisionMan]

With some good contracts, that is a $2000+ dollar day! Not bad for a few hours work

Thanks MaxReaver. Some days I wonder why I'm not out banging on doors. Those people never would have sent in response cards. Plus its good exercise on those nice days.

But at this point in my career I'm stuck with referrals, working large cases and baby-sitting active clients.

 

[MaxReaver]

But at this point in my career I'm stuck with referrals, working large cases and baby-sitting active clients.

Is there no end to the suffering?

 

[The ruben]

Its a numbers game there are agents cold calling every single day successfully. Leads speed up the process and do save time however.