It seems like there are a lot of FE policies that could be replaced with something better/cheaper for the client. How could you find these? If someone has a policy they probably won't respond to a DM campaign and won't be aware that there are better options available. They're going to be under the radar but sitting ducks if you can find them.
Prospecting to Replace FE Policies?
- Thread starter turkjey5
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- 8,707
I'm not sure I would spend a lot of marketing time trying to find other policies to replace in this manner...
1. The longer the policy has been held and age changes occur the more difficult it will be to beat the rate.
2. The more likely thier health has deteriated and may not qualify for best coverage.
3. Restarting the contestability period for the client.
If you do your regular marketing looking for people wanting/needing coverage you can ask about other policies and referrals.
Actually I just had a good thought on this as to how to find these people..
Do a search of your DOIs website for contact info on your fellow agents. Find a bunch with a captive carrier that is not so competitive (screenshot the info) come back and look to see if they are still in the business in 6 months. Contact said agent about thier client list...The hard part is waiting for the policy to roll over to the 12th month and then going after them otherwise you create a chargeback situation.
just some thoughts....You will also have to spend some $$$ to entice the former agent to provide the info...Not to mention what I am suggesting probably violates their companies privacy policies plus a bunch of stuff in thier contract.
Second idea kinda of along with idea #1 is to find said captive agency and date the one of the admin girls.......
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- Thread starter
- #3
- 2,455
Actually that's a pretty good idea Peter. Only thing is, did they write any business? If they did they would probably still be in the game. But your brain is working. It may be worthwhile. 
- 11,997
Your narrowing your prospect list down to folks who have purchased life insurance within the last X amount of years. Seems like they'd be tough to specifically target.
Why not target everyone?
Why not target everyone?
- 17,069
You get enough of them with just regular FE mailers. FE prospects are serial mailers.
- 8,707
Actually that's a pretty good idea Peter. Only thing is, did they write any business? If they did they would probably still be in the game. But your brain is working. It may be worthwhile.
No they can sell some policies and still fail to make thier monthly nut.
You just need to be able to compensate the former agent while keeping thier policy on the books for 12 months.
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