Persistency of Lay Downs Vs Difficult Closes

[theinsuranceman]

Would appreciate your thoughts or your experiences with persistency of lay downs (people with NO resistance who buy) vs difficult closes who buy for Final Expense. Other markets welcome to join in just tell us your market you are commenting on.

 

[jdeasy]

Would appreciate your thoughts or your experiences with persistency of lay downs (people with NO resistance who buy) vs difficult closes who buy for Final Expense. Other markets welcome to join in just tell us your market you are commenting on.

For me, the lay down seem to stick better, but, I don't have a running tally to know for sure.

The "lay down" to me is somebody that's already closed. Why would it come off the books? I also do not do a lot of "selling", so, I don't get too much buyer's remorse anyway.

 

[Frank Stastny]

...I also do not do a lot of "selling"...

Excellent point. Usually the amount "selling" an agent has to do to get a signature is what has a lot to do with persistency.

I also do not "sell" insurance either. I use factual information presented in a logical manner so they can understand it.

I guide them toward making a decision and show them that what I am recommending is the best investment of their premium dollar. If they don't see the value then a lot of "selling" may get the signature but it is questionable that it will stay on the books for more than a couple of months.

 

[Full Throttle]

Also, don't over sell the premium amount. This will improve your persistency. Med supps/health insurance, most realize they can't go without it. Life insurance, easier to justify dropping it.

"Let's assume the worst case scenerio, your water heater just went out, there was a hail storm and you have an insurance deductible to pay, and your radiator all went out in the same week, what is a reasonable, comfortable monthly premium?"

Get greedy, it will bite you in the ass on the backend.

 

[VaDwayne]

What is the definition of "selling?"

 

[bill3173]

The persistency of agents that "push" the buyer is typically much worse than the "consultant" type agent, and that's for life or health.

Start spending other peoples money, and they will drop the policy, never call you or refer anyone to you.

One positive thing about the "pushy" agent is that they do bring more buyers into the market, particularly for life insurance. They may drop that policy and then go searching for a new policy and agent.

 

[somarco]

What is the definition of "selling?"

Here is one example.

Someone who takes advantage of free Med Supp training then turns around and tries to sell this newly acquired knowledge to others.

 

[Crabcake Johnny]

You mean the agents I would train when I was running my small agency who couldn't put more than 4 deals together in the same month who now demanded GA contracts so they could hire?

I wonder where they are all now? Likely helping people find the lumber section at Home Depot.

 

[briko3]

Don't you understand, healthagent? It was all your fault. You didn't motivate them enough, or you micromanaged them too much. If just given the opportunity, they will be great leaders and if they keep VERY quiet, the people under them might never know they didn't do well selling themselves.

 

[Crabcake Johnny]

If you want to go broke in this business there's a guaranteed route to take; stop writing and start hiring.