Life Insurance Sales ????????????

Feb 5, 2016

  1. Insurance Man 32
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    Insurance Man 32 New Member

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    Hi how is everybody
    I have had my P&C lic for the last 12 years but the company i am working for now wants me to start selling life insurance . I would like to talk to someone that has experience doing it and finding out how is the best way to market it , if someone would share . Thank you
     
  2. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    By asking your question like that, you're asking about someone else's prospecting and business practices.

    You need a method that you can integrate with your existing business and processes. While I don't have experience in a P&C setting, I think this link may be very helpful for you.

    http://fsonline.com/Simpler_Way.pdf
     
    DHK, Feb 5, 2016
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  3. Insurance Man 32
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    Insurance Man 32 New Member

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    Thank you for the info.
     
  4. Cash
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    Cash Guru

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    Start selling life insurance or sell life insurance to your P&C clients?
     
    Cash, Feb 5, 2016
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  5. agentinsouth
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    agentinsouth Guru

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    GUL mortgage protection... I try to stay away from the term when ever possible.
     
  6. blue_wynd
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    blue_wynd Guru

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    Prospect your current P & C clients. Ask whoever buys a new house if they are interested in mortgage protection insurance.
     
  7. alexwat31
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    alexwat31 New Member

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    thank for the information
     
  8. nmlclu
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    nmlclu New Member

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    here is a complete and true answer to your question. 1) always work with warm leads i.e. referrals. 2) get IN FRONT of the person, do not sell on the PHONE. 3) Take a fact finder focusing on the person's total need for life insurance. 4) Get a discovery agreement outlining what issues you are going to solve for your client AND the clients FELT NEED to solve the problem. 5) Set up another meeting, go back to your office, design the solution. 6) At the second meeting solve the need through life insurance and ASK the client to take action... Done.
     
    nmlclu, Mar 13, 2017
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  9. pcbinsurance
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    pcbinsurance Guru

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    That's the answer a Northwestern agent will tell you but he failed to read that this P&C guy has ready made leads at his agency.
     
  10. nylife11023
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    nylife11023 Super Genius

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    In most cases people are required to have P&C coverage. Most of it sold via price and good marketing by the carrier... USAA (vet family,) Farmers ("We know a thing or two...," Progressive (Flo) GEICO (lizard), NYL ("Company you keep") etc.

    Very rarely is someone required to have life insurance, thus it is SOLD rather than BOUGHT. In my experience it is the ability and knowledge of the agent that makes the difference as to whether the client buys or walks.

    Bottom line, you need to have better sales skills and have a lot more product knowledge to make a living in the life sector than you do to sell home or auto coverage.

    You are in a good position in that you already have a warm market... your former clients as well as the entire book of the company, if they open it to you and if they are reputable.

    A friend of mine joined AAA a few years ago as a life agent (only.) He has the entire book of AAA clients open for him and in his area people are very loyal to the company because of their proactive record on settling claims.

    He is able to get on the phone and say "Hi, this is Joe Smith with triple A. You have your house and car insurance with triple A. (pause) We are calling triple A clients to discover if they have needs for other coverage, say to protect the family from an unexpected death, especially those triple A clients with a new arrival or a new mortgage or new spouse. A lot of people don't know that triple A can cover your life as well as your property. Is this a conversation you want or need to have with triple A which is a company you know and trust?"

    (Note: he mentions 'triple A' as often as possible because it is a 'door opener' in most cases.)

    IF you can do the same thing and IF people know and like you as well as know and like your company, you have an advantage over most other new agents like yourself entering the life sector.

    My friend is a huge producer for AAA and while he does not make as much money as he might as an independent, he likes the security of working for the company and having the entire book open for him to market to. He says it is an an easier 'path' to making a sale.
     
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