Project 200 Question

[JimmehBone]

I've been asked to do the project 200. This hiring manager requires only 100 names but up to 200. They will mail all these people and let them know I'm an agent in the area. Should I just be getting random names and addresses then? It's kind of like a free mailer.

 

[Frank Stastny]

I've been asked to do the project 200. This hiring manager requires only 100 names but up to 200. They will mail all these people and let them know I'm an agent in the area. Should I just be getting random names and addresses then? It's kind of like a free mailer.

Typically they want 200 of your closest friends and relatives. I'm not sure I could come up with 20. haha If I give them those 20 names my list of "friends" would probably drop to zero. Do not try to sell to relatives and friends until you become an expert at what you are doing. Even then, let them come to you.

I suggest you order a list targeting the people who would be good prospects for the product you are selling and submit names from that list. Josh on the forum would be the best guy for you to talk to about such a list. This is his phone number, (888) 905-3282. Tell him the "Goat Man" sent you.

 

[Josh]

I might need to make a post or two about the project 200 on my site. Seems like the easiest way out of it (and helps folks be less shy!)

 

[Crabcake Johnny]

Best way in the world to make your friends and family feel awkward and absolutely the best way to make sure your friends don't take your calls anymore.

This is a STALE, useless 1970's technique. Nothing beats asking your friend's wife about her medical history.

Let your family and friends come to you. Start a business FB page and invite them to join. Those interested will reach out. This is after you know what you're doing.

 

[FL P&C Broker]

When I got out of college I met with NYL, Northwestern, New England, Mass Mutual and Metlife. All of them wanted me to do some form of the Project 200. I could tell that there was no real training on how to sell life insurance. It was really discouraging....why I ended up in the P&C biz.

 

[Crabcake Johnny]

When I joined UGA my manager wanted me to write a list of my friends and family and he'd call them for me to set appointments. Simple answer; "No."

 

[Frank Stastny]

When I got out of college I met with NYL, Northwestern, New England, Mass Mutual and Metlife. All of them wanted me to do some form of the Project 200. I could tell that there was no real training on how to sell life insurance. It was really discouraging....why I ended up in the P&C biz.

They typically want new agents to do that because they have learned that they will pick up a few extra policy holders before the agent gets discouraged and quits. This means that they have added to their client list and when the agent quits they keep the business and no longer have to pay commissions.

A win win for the company a lose lose for the agent. That's how Walmart gets stock boys and greeters.

 

[FL P&C Broker]

They typically want new agents to do that because they have learned that they will pick up a few extra policy holders before the agent gets discouraged and quits. This means that they have added to their client list and when the agent quits they keep the business and no longer have to pay commissions.

A win win for the company a lose lose for the agent. That's how Walmart gets stock boys and greeters.

Yeah, I saw the writing on the wall long before most did. I knew it was great way to lose friends. I didn't have too many 22 year old friends that were interested in purchasing life insurance. If I could have found an organization that was actually interested in training me rather than a list of people I knew, I would have probably ended up in the life business.

 

[Crabcake Johnny]

I can't fathom calling up my better friends and hitting them up for life insurance. It's a huge violation of our trust.

 

[moonlightandmargaritas]

I've been asked to do the project 200. This hiring manager requires only 100 names but up to 200. They will mail all these people and let them know I'm an agent in the area. Should I just be getting random names and addresses then?

I can't help but chuckle when I read the comments of the "experts" in this thread. Obviously, none of them has ever made a living selling serious life insurance (not small final expense policies, etc). I have.

First of all, life insurance the NYL way (or Guardian, NW Mutual, etc.) isn't a demand product - there no "leads" for it in the classic sense (they might be able to throw you a bone or two in the way of an "orphan"). It's not car insurance, med supp, health insurance or any other flavor of demand product you choose. That's one of the reasons that the failure rate is so much higher than those other lines.

The first reason to have you do a "Project 100, 200" or whatever is to assess your probability for success in that demanding, brutally tough gig.

If you can't come up with a list of at least 100 names of people that you are confident you can call and get an appointment to talk to on a favorable basis - and get them to give you some referrals too - your chance of success with NYL is virtually ZERO and you should re-think your decision.

Good luck.