Mortgage Protection Insurance by Phone??

Discussion in 'Getting Started Selling Insurance' started by tesflex, May 9, 2009.

  1. wfs
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    wfs Well-Known Member

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    Fidelity Life has a mortgage term policy that you can sell over the phone. Signature is electronic via email. I think they have a voice signature through a 3rd party, but I'm not sure how this works.
     
  2. nka245
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    nka245 Well-Known Member

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    Okay, first, before you find out about companies you need to understand comp levels or someone is going to take you for a ride. Wake the hell up before you get screwed.
     
  3. brkrsrevolution
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    brkrsrevolution Well-Known Member

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    I left them a message on their machine, havent heard back yet.

    NKA,
    I am just getting into doing MP and FE tele sales, any hints and or suggestions you wouldn't mind sharing? What is generally the best route to take? Quick conversation, quote, write em up? Or does it take two calls many times to get them to buy, do you do any gotomeeting or presentations for them on the computer at all? Any advice would be very much appreciated! Also what do you believe to be the best companies and what is a good comp range?

    Thanks!
     
  4. arnguy
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    arnguy Well-Known Member

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    If anyone believes that, I have a bridge for sale in Brooklyn!:skeptical:
     
  5. rbrewer
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    rbrewer Well-Known Member

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    How am I going to get screwed if I am checking them out first to see if they are even worth doing business with. Of course I will find out the comp level before I contract. No need to be so harsh with your words I thought we where all friends here.:1baffled: Are you having a bad day?:laugh::laugh:
     
  6. AtlantaLife&Health
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    AtlantaLife&Health Well-Known Member

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    I'd be weary dealing with a company with a free email account. @ymail.com??? Please...If they are successful, they'd at least go buy a domain name for $10 and get a professional e mail account. So watch out.
     
    Mark likes this.
  7. nka245
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    nka245 Well-Known Member

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    I have never done a webinar gotomeeting thing with anyone. I do send them over illustrations via email for them to review and it usually takes at least two calls to close so staying organized is a must but it truly is not that difficult if you have a system. I think you need to work a minimum of 5 hours a day, evening, whatever on the phone to make a decent living. A decent living to me is more than 100k a year before costs. 2 hours a day should be for call backs and closes. Each day you should already have your call backs and closes mapped out i.e. if someone says call me back on Tuesday because I have off work and will have had time to speak to my spouse, you first make them commit to 1) being there when you call and 2) having an outcome of the call (a decision) and then you place them in your Tuesday call backs. For new contacts you want to make sure you have a clear plan of who it is you are calling, i.e. Mondays you call a certain town or area code, Tuesdays another... Set goals each day. I like to be realistic but still within my income goals. Tell yourself that after week one, which is your prospecting week, you will close 2 apps a day, 5 days a week or maybe 2 apps a day 4 days a week and leave one day for paperwork, etc... Here is something to think about: Most salespeople will give up on a prospect on call #2. You can double your sales by committing to call a prospect at least 5 times before putting them in a "desperate file". A desperate file is a file that you have to the side to work on if you are low on other prospects... Anyway, once you get this down, teach an assistant to do it for you and up your volume of business.
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    Absolutely not. I was having an excellent day ,making tons of cash. I was replying to your yawning faces...

    Anyway, if you can't find anyone here or otherwise who knows about these people I would venture to say it is best to stay away. My personal belief is that you don't sign on with any company unless you can find more than one person who is generally happy there and has no interest in your business personally. I say this from experience. I have been through my fair share of IMOs and they all have a pitch but once you get sucked into their BS you see that is all it is, BS.
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    I have a "paid" email account but I don't use it because I have been using my other email for so long, it is just more convenient. I wouldn't base my total opinion of a person or company on an email address unless it was some absurd address like [email protected] dot com...
    Disclaimer:, that is not my email and I have no idea who it belongs to.
     
    Last edited: May 17, 2009
  8. SalemInsuranceGuy
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    SalemInsuranceGuy Well-Known Member

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    Uh huh :skeptical:. Ok you knew someone had to comment on that one. But seriously, what companies do you use on for your mortgage protection over the phone? I plan to buy leads because I'm too lazy or don't know how to generate my own. But I would be interested in learning. I guess it makes sense if all these Dot Com guru's can generate leads why can't we at least generate some? When you sell MP are you also making the DI option available? What kind of system are you using for following up? What type of contract levels etc. The reason I'm asking all these questions is I've been in the insurance business for quite a few years. I did take 3 years off to pursue another venture that made me enough money so I could afford to sit at home and sell insurance without the pressure of having bills to pay. So after a 3 year break I just got relicensed in 16 states. I still haven't signed any contracts yet though. I want to make sure I'm doing the best thing. I've checked out a ton of ventures. I did look into HBW again. But of course when I brought that up I had some ahole accuse me of spamming. I've decided HBW isn't for me though. I've also done NAA in the past and did write about 18k a month in AP at first, until they started selling me my old leads back over as fresh ones. But I don't want to get into that and I'm never looking for anything like NAA again. I am pretty seriously looking into Efinancial right now and one other company that does similar sales using their ALISS system. You seem like you have a lot of knowledge I was just wondering what your thoughts are. I primarily would like to sell term over the phone. I'm also open to DI, MP, FE and annuities as they come up. I've thought about health but too many moving parts over the phone for me. I'd like my primary focus to be some type of term over the phone. I'm interested in both med and non med. I may even like to do a little work site sales but only in my local area. I really hate the whole driving thing of the past. I have about 3k to 5k a month to put into marketing, but want a good ROI and some type of postive cash flow coming in within 3 months. I really do like the ALISS system. My sales skills are good but my organizational skills tend to be lacking, so I think something like ALISS would keep me on track. I do realize I can still use ALISS and contract with whoever I like.
     
  9. nka245
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    nka245 Well-Known Member

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    Give me a shout tomorrow after 2 pm and I will talk to you about it, no pressure to sign anything... we don't have anything to to sign, anyway. I think I have some really great options to offer. I'll message you my email, as well. Honestly, I am too lazy to type it all out here. It's Sunday and I gorged on too much seafood which makes me want to just lay around and play dead.
     
  10. SalemInsuranceGuy
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    SalemInsuranceGuy Well-Known Member

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    Since we're on the subject of mortgage protection. I have to ask. Has anyone ever tried anything different than term. Such as a max funded equity indexed UL product? I've read Doug Andrews book Missed Fortune 101 and was wondering how it would go over when I run into people who are already sending the mortgage company a few hundred extra a month to pay it off quicker. The strategy is to write the EIUL face amount to still cover the mortgage, but max fund it so the cash builds up quicker and when the cash value equals the mortgage payoff you use that money to retire the mortgage and drop the insurance coverage or just keep the EIUL and keep max funding it for retirement with the same monthly payment that was going to pay the house off.
     
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