Save the client money, then have them spend the difference on insurance premium?

Discussion in 'Final Expense Forum' started by NSRH, Nov 14, 2017.

  1. NSRH
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    Spoke to a struggling agent today who was taught to go into the home, call the prospects cable/cell phone/ internet company and try to lower their bills. Then use some of the savings to pay for a life insurance policy.

    The agent claimed that he just didnt have enough leads (and thats why he was struggling), but I couldnt help but think, "That has got to be the craziest way to sell insurance!"

    Has anyone heard of this method? Who is teaching this? And is there anyone who is doing this successfully?
     
  2. VolAgent
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    I have heard of it and had much the same thought as you when I heard about it. If you want to be a debit or credit counselor, then be one and charge for it.
     
  3. HoosierLife
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    Yeah Rob Martin is using this method. I've never done it off a lead. I did create a senior Center presentation that adds this platform to put more butts in the seat and get more lead cards filled out.

    At those Section 202 housing complexes everyone's so broke that they never have any bills anyways. But it works. We have guys writing an extra grand or two a week to supplement their weekly DM sales.

    Most end up just buying more leads. Much easier way to sell.
     
  4. Broker4Ever
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    I can see this as a great way to the door like HooserLife used it if targeting a cold audience. But, in terms of using it with DM, I feel like that's over-complicating an already simple sales process. KISS!
     
  5. rousemark
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    The idea is to increase the sales volume per sale. Perhaps they had in mind sepding $50 per month.. then the agent manages to save them $150 per month on their bills so they then they are willing to spend $100 for insurance. The system supposedly helps close some sales that would not have bought and increases the sale amount in other cases.
     
  6. HoosierLife
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    And it adds about 1.5 hours to the process for each prospect. I don't know how guys fit it in their schedule, but I've talked to some that use this method in the field and they're still only writing $8-9000 a month.

    I brought on a guy local to test the Money Saving Senior Center theory and he wrote almost $12,000 his first month. He did start taking leads in the second half of the month though (got 22 total I believe).

    He LOVES leads, but he's going to keep doing the Senior Centers a couple days a week and 30 leads with a setter the remaining 3 days of the week.

    But I imagine he will just up it to 40-50 leads a week down the road.
     
  7. LostDollar
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    I do not remember if it was specifically for phone bills, but I am pretty sure the general concept of helping a potential client reduce some monthly cost and then applying the savings to insurance has been discussed at least twice in the forums over the last 12 months. Myinsurebiz was going to do all sorts of things, so I suspect one of the discussions was probably in one of his threads.
     
  8. Thedude
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    I wouldn't waste my time doing that.
     
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  9. LostDollar
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    Op asked this:

    All I was attempting to do was to say, conceptually it is not a new idea. Conceptually it is an old idea which has been discussed in the forums before.
     
  10. nfl72
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    One of the easiest ways to save a typical FE buyer money is to look at their car loan. Most of them have no idea they are paying $50 per month on LA&H and probably another $30 per month on a "powertrain only" used car warranty. When pushed you can get the F&I manager to rewrite the loan without those items, easily saving them $100 a month or so. Enough to be able to show them how they can in fact afford your life insurance after all!
     
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