P&C Agents Sell More Life Insurance

[infoe]

I work with a company called quicklife to sell term to my clients. I am a younger agent so most of my natural market is in that stage of getting married, buying homes and having babies. They are good term prospects and quicklife does a good job of handholding the client and getting the policy issued. I give up 25% for them to do the work but that is a very fair deal in my opinion, I don't know of any life agents that would be willing to give me 75% and work on any little term deal I send their way. When I run into a more complex life case I bring in a real pro and split the case.

when you say you give up 25% and they do the work? at what stage in the process do they do the work? Is it after you've presented the quote and filled the app? do you quote? do you just present them the lead card? I know you said a while back you quote a life policy with every homeowner quote you give, and I think that is a great idea just curious at what point in the overall life process do they take over?

 

[Bertolinoins]

when you say you give up 25% and they do the work? at what stage in the process do they do the work? Is it after you've presented the quote and filled the app? do you quote? do you just present them the lead card? I know you said a while back you quote a life policy with every homeowner quote you give, and I think that is a great idea just curious at what point in the overall life process do they take over?

I send a quote out with every HO/Auto quote and if they are interested I have my guy at Quicklife call them to complete the process. With good longtime clients, friends, etc I don't even give them a quote, I just tell them that he will call to take the app and set up the eval and then we can talk price after we know how they will be rated. Quicklife keeps me in the loop so I can call or email them if we are stalled at some point in the process.

I like this situation better because people are more likely to dislcose information to a complete stranger they will never meet than to a guy they see a lot face to face in the community. I tell them that my guy will take care of it and none of the info comes through me. Nobody wants to talk to somebody they know well about their wife being on anti depressants and stuff like that.

 

[infoe]

I send a quote out with every HO/Auto quote and if they are interested I have my guy at Quicklife call them to complete the process. With good longtime clients, friends, etc I don't even give them a quote, I just tell them that he will call to take the app and set up the eval and then we can talk price after we know how they will be rated. Quicklife keeps me in the loop so I can call or email them if we are stalled at some point in the process.

I like this situation better because people are more likely to dislcose information to a complete stranger they will never meet than to a guy they see a lot face to face in the community. I tell them that my guy will take care of it and none of the info comes through me. Nobody wants to talk to somebody they know well about their wife being on anti depressants and stuff like that.

Nice, but Quicklife is an intermediary correct? They will write through one of the life companies your appointed with? or one they are appointed with?

I'm assuming you have different life carriers so in case you wanted to offer something a bit more robust than term like a 15/20pay or a return of premium term?

Still seems pretty neat.

 

[Bertolinoins]

Nice, but Quicklife is an intermediary correct? They will write through one of the life companies your appointed with? or one they are appointed with?

I'm assuming you have different life carriers so in case you wanted to offer something a bit more robust than term like a 15/20pay or a return of premium term?

Still seems pretty neat.

They write through TransAmerica, AmGen, ING, Genworth, Lincoln, West Coast, Fidelity and Vantis.

I am not really in the life business other than writing term and I will eventually circle back and try to convert that to whole... but as of right now I just write term for young families and for SBA lending requirements from some of my friends in the banking business. It allows me to make decent money off of my warm referrals without having to get overly involved.


If I run into something more complicated then I refer it to a guy that is a pro in more complicated estate planning and tax strategies. That stuff is beyond me at this point but we have a good relationship with a fair split and he refers great clients to me. So far it has worked out well and I will fold him into my company when he is ready to semi retire.

 

[ims01]

I send a quote out with every HO/Auto quote and if they are interested I have my guy at Quicklife call them to complete the process. With good longtime clients, friends, etc I don't even give them a quote, I just tell them that he will call to take the app and set up the eval and then we can talk price after we know how they will be rated. Quicklife keeps me in the loop so I can call or email them if we are stalled at some point in the process.

I like this situation better because people are more likely to dislcose information to a complete stranger they will never meet than to a guy they see a lot face to face in the community. I tell them that my guy will take care of it and none of the info comes through me. Nobody wants to talk to somebody they know well about their wife being on anti depressants and stuff like that.

How do you determine the underwriting class to use for the quote?

Are you at a 75% commission level or do you split the case with Quicklife 75/25? If the latter, what is your base commission level?

 

[Bertolinoins]

75% commission level.

 

[ims01]

75% commission level.

Thanks.

Do you just use Preferred Plus for all the initial quotes that you send with Home/Auto policies?

 

[Bertolinoins]

Thanks.

Do you just use Preferred Plus for all the initial quotes that you send with Home/Auto policies?

Sorry I didn't answer the first time you asked. My agents just quote preferred for $500K. Most of these folks are not shopping for life so it is just to start the conversation. We are not lighting the world on fire this way but we did close $5900 in premium this month and $5100 last month.

 

[FL P&C Broker]

Sorry I didn't answer the first time you asked. My agents just quote preferred for $500K. Most of these folks are not shopping for life so it is just to start the conversation. We are not lighting the world on fire this way but we did close $5900 in premium this month and $5100 last month.

What do you think your close ratio is for every life quote you send? Do you just send it and let them bring it up if they want to talk about it?

 

[Guest]

i believe only like 10% of people qualify for the super-preffered tier in life, so never use it, never quote it.

Be realistic...