Med Sups or Mortgage Protection ?? Can't Decide

[sharewic1]

I have been talking with agent at Physicians Mutual and I like the product. However I don't like cold calling or door knocking. I am willing to do the door knocking b/c I can see that I have to be successful. I am told I can order leads but after my first sell.

However, see all the ads on LinkedIn and Indeed advertising "Mortgage Protection- no cold calling or doorknocking" which I know the catch is I will be ordering leads which is fine and better use of time.

I don't think one is easier than the other. Am I wrong about that ? But don't want to spend so much time prospecting ? Sounds lazy I know.

Help me out guys.what am I missing ?
What will I wish I had know six months from now about mortgage protection that I am not seeing now ?

Ps. I am keeping my full time for at least the first 6-12 mo until I get the ball rolling.

 

[DHK]

Something to consider:
http://www.amnesta.net/mba/thecommondenominatorofsuccess-albertengray.pdf

One big thing is when you'll be doing your selling. Mortgage protection is typically an evening and weekend sale, while Med Sups are generally daytime activities.

Med Sups can lead to cross-selling, such as FE, non-lapse GUL, annuities, etc. Mortgage protection (generally term insurance) can lead to converting to permanent policies, disability, critical illness, rollovers, etc.



As others have reported, the renewals for Med Sups is probably better than almost all other forms of insurance. So once you build up your clientele and you take care of them & keep in touch, you can count on that income year over year. With term, renewals are almost non-existent.

 

[sharewic1]

I am off on Thursdays . I plan on making all my contacts and setting up appointments M-W and then working those appointments for Thursday only .
Kind of the same schedule in mind for Med Sups.


It seems as though all the Mortagage Protection jobs are through Equis or Symmetry. Both of these seem like the same set up? Yes/no ?

 

[DHK]

I couldn't tell you about any MP jobs or how they work, aside from the fact that they'll pay you less than if you had your own independent contracts, E&O coverage, and paid for your own business expenses.

If you were going to be an independent agent selling mortgage protection, I'd recommend starting with this system here and use this as a way to launch your career into financial planning:
http://www.insuranceproshop.com/lifeinsurancemarketing/lifeinsuranceleads.html

 

[goillini52]

I have been talking with agent at Physicians Mutual and I like the product. However I don't like cold calling or door knocking. I am willing to do the door knocking b/c I can see that I have to be successful. I am told I can order leads but after my first sell.

However, see all the ads on LinkedIn and Indeed advertising "Mortgage Protection- no cold calling or doorknocking" which I know the catch is I will be ordering leads which is fine and better use of time.

I don't think one is easier than the other. Am I wrong about that ? But don't want to spend so much time prospecting ? Sounds lazy I know.

Help me out guys.what am I missing ?
What will I wish I had know six months from now about mortgage protection that I am not seeing now ?

Ps. I am keeping my full time for at least the first 6-12 mo until I get the ball rolling.

Not sure what it is that makes you like PMIC's Med Supp, but they haven't been competitive for years.

 

[sharewic1]

I am new to selling but so far I liked the people,
The company seems to be genuine and the name
Recognition. In AL most people only want BCBS advantage plans. They think it's their only option so name recognition helps a lot.

 

[goillini52]

I am new to selling but so far I liked the people,
The company seems to be genuine and the name
Recognition. In AL most people only want BCBS advantage plans. They think it's their only option so name recognition helps a lot.

Name recognition doesn't hurt, but when their policy cost 50% more...or double you'll starve to death looking for somebody that's willing to pay for that name recognition. They're one of the highest priced.

I've got nothing against PMIC...I spent 2 years with them, but if you're wanting to sell Med Supps they don't compete. Why would anybody want to pay that much more for the exact same coverage. Plan F is the same with PMIC as it is with Aetna, as it is with Bankers Fidelity, etc.

 

[sharewic1]

Thanks for the info, I'm to green to really know. But you are probably right.

Right now I am just trying to figure out where I want to focus my time/energy---- Med sups or mortgage protection.

 

[inreverse]

Mortgage protection will work better on a part time basis than med sups

 

[sharewic1]

Mortgage protection will work better on a part time basis than med sups

I came to the same conclusion.

Thanks guys