Seeking advice from veteran health agents

Oct 29, 2007

  1. ovaleagent
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    ovaleagent New Member

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    Hello all,

    New to the forum and am seeking advice from some vet agents.

    I am a marketer for a large life brokerage. My goal for 2008 is to bridge the gap between independent health brokerages that don't offer life products to their clients or market it to their client base consistently. This is more of a research question for myself and I was trying to think of all the reasons why brokerages DO NOT do it. I am seeking input into this matter so I can build a program that works.

    Below are some of the reasons agent's I've spoken to expressed:

    * completely different sale that they are uncomfortable with
    * time intensive - very busy with their regular daily operations
    * fear of unknown with no life ins. experience
    * lack of product/marketing support

    Again, I am hoping some health agents could tell me why you personally haven't sold life. And for those that have what HAS made the difference for you to cross-sell. Thanks in advance.
     
  2. insuremojo
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    insuremojo Super Genius

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    I don't know...maybe they need to just ask? I have never had any problem with writing Life insurance as it is still one of my main sources of income even though I love to write health insurance. I will always ask for their life insurance after I write the health. All you have to do is ask "can I give you a quote for life insurance?". Always works for me anyways.
     
  3. Mr. Bill
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    Mr. Bill Guru

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    It really depends on the type of sale. Term, yep, just ask the question. For big cases, it can easily take 6-8 months and what we really need is assistance in follow-up, case updates etc., no surprises.

    The worst I had was an FMO owned by Marsh Mclennan that requested a 2nd paramed, and the same paramed (employee) went out to the client and could not believe they had to go out a 2nd time. Neither could the client. Since this was a simple over the phone sale, I lost the case. I was ticked off and won't do business with that FMO ever again. So with that, I'm saying agents don't like to be surprised, and neither do clients.
     
    Mr. Bill, Oct 30, 2007
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  4. MIBizInsurance
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    MIBizInsurance Guru

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    Oval one thing you need to understand is we get alot of recruiters/GA types here and these "survey questions" often turn out to be a sales pitch.

    You know- "Oh, really- you have a problem cross selling! Well we can help just go to our site..........."

    Thus, if you don'te get alot of responses.....
     
  5. djs
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    djs Super Moderator Moderator

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    What are you going to do with this knowledge after you figure out why agents do cross-sell? Knowing that would help me provide an answer.

    Dan
     
    djs, Oct 30, 2007
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  6. somarco
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    somarco GA Medicare Expert

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    I don't do a lot of cross-selling of life (or any other lines) for a couple of reasons.

    1) I am too busy writing health and don't have time for other distractions.

    2) Every life case I have sold is a 3 - 6 month process from the time the app is taken to when I am paid. Who cares about waiting 6 months to earn a $400 commission? Not me.
     
    somarco, Oct 30, 2007
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  7. bluemarlin08
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    bluemarlin08 Guru

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    Send those health clients to me and I will call them and split the commission 50/50, win/win for everyone.
     
  8. MIBizInsurance
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    MIBizInsurance Guru

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    LOL...here it go's!

    See my prior post above.
     
  9. djs
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    djs Super Moderator Moderator

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    I agree that good agents learn to focus on what they do. Cross-selling can be a HUGE distraction.

    Successful agencies might have a person who follows up with cross sell opportunities (i.e., multi-person offices), but when your by yourself, you do what makes you the money.

    To make money selling life, you can't sell term or low face-amounts. That means its a pretty hefty departure from your normal routine. Selling low face amount term doesn't make you any money compared to your core business.

    I value my relationships with my clients, and won't sell their information to another company/agency, therefore, outside cross-selling isn't an option.

    All that said, I do offer my clients a life policy. I don't push it, but I do offer it.

    Dan
     
    djs, Oct 30, 2007
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  10. insuremojo
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    insuremojo Super Genius

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    I want to go on the record and say that I usually offer term and recommend to invest the rest so the whole process from application to policy is about 3-4 weeks and is not hard at all. I don't deal with the investment part...I just don't have the time.

    And the commissions can be extremely good....:)
     
    Last edited: Oct 30, 2007
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