Selling Insurance to low income people?

[Crabcake Johnny]

Re: Will you work with low income people?

When I was at BMW we had a great policy. You can test drive anything...after we pull your credit. We got into it fairly often with people who came to the lot thinking we were running a carnival. Qualification was done upfront before anyone's time was wasted.

Broke people don't care. They love to shop and love to waste sales people's time. They'll gladly invite a sale rep over for a kitchen remodeling job and waste 6 hours going over different plans and colors. It's fun for them.

Broke people will also buy anything that has a recurring payment. They know they'll only make a few payments before they either cancel or everything starts bouncing.

A very bad habit I had to get my wife out of when we got married was "playing with jewelery" in the mall. She thought it was a lot of fun to go into Zales and have the rep pull out rings, watches, necklaces, etc...I put a stop to that.

 

[WinoBlues]

Re: Will you work with low income people?

I get more lapses/cancellations from new BMW driving 40 yr olds than 65 yr old 5 yr old Toyota drivers. At the same premium.

Income level does not equate to broke level. I have clients earning $50k - $80k that are a lot broker than people below $50k. @ the $100k level seems like they are better to able to handle their budget also.

I only drive American, But most Beemer drivers I have met tended to be over inflated A-holes compared to the Toyota drivers. Granted, this was mostly in the San Francisco Bay area.

When I was at BMW we had a great policy. You can test drive anything...after we pull your credit. We got into it fairly often with people who came to the lot thinking we were running a carnival. Qualification was done upfront before anyone's time was wasted.

Broke people don't care. They love to shop and love to waste sales people's time. They'll gladly invite a sale rep over for a kitchen remodeling job and waste 6 hours going over different plans and colors. It's fun for them.

Broke people will also buy anything that has a recurring payment. They know they'll only make a few payments before they either cancel or everything starts bouncing.

A very bad habit I had to get my wife out of when we got married was "playing with jewelery" in the mall. She thought it was a lot of fun to go into Zales and have the rep pull out rings, watches, necklaces, etc...I put a stop to that.

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[Crabcake Johnny]

Re: Will you work with low income people?

Totally agree. I can't count how many Beemers I sold to the 30/40 year old set who earned 50K and walked out with $600/mo payments. Those are the "look at me" people who live check to check and want everyone to think they're successful.

Of course, I live in a neighborhood of "house poor" people - $400K to $500K townhomes yet our neighbors can't afford to take their son (my son's friend) to the carnival this week because it's "too expensive."

 

[Alhambra]

Re: Will you work with low income people?

What about working with Low Income Seniors? Can you bill Social Security for your premiums? One thing they would not have to deal with and yet have insurance benefits?

 

[DS4]

Re: Will you work with low income people?

Some people, "just like to talk to salesmen". Quote from Danny DiVeto in Tin Man.

 

[Tampa Bay Rep]

Re: Will you work with low income people?

For years I worked the low income market. I had times where I would be on the phone with a person who would say they wanted me to come out to sign them up for our insurance health plan. If I had an opening at the time, I would tell then that I could be at their house in 20 to 30 minutes and I had times where I'd get there and they were not home.

 

[WinoBlues]

Re: Will you work with low income people?

That has never happened on the above the poverty line clients?

For years I worked the low income market. I had times where I would be on the phone with a person who would say they wanted me to come out to sign them up for our insurance health plan. If I had an opening at the time, I would tell then that I could be at their house in 20 to 30 minutes and I had times where I'd get there and they were not home.

 

[carroll]

Re: Will you work with low income people?

Totally agree. I can't count how many Beemers I sold to the 30/40 year old set who earned 50K and walked out with $600/mo payments. Those are the "look at me" people who live check to check and want everyone to think they're successful.quote]

This is the very reason I drive a 6 year old camry with 145,000 miles on it. I deal with beemer owners on a daily basis...... most are leased.....and most live hand to mouth and can't afford to paint their home or buy a second suit.

 

[Crabcake Johnny]

Re: Will you work with low income people?

Man, I want a 7 Series sooooo bad. Seriously, I want one. Problem is, I work from home and my wife doesn't work. We literally drive to go shopping and "out and about" places. We fly to vacation spots.

So it's a lot for me to justify having another car payment or plopping a lot of money down on another car. Year 2000 Pontiac - running like a champ. Small repairs here and there but it's long since paid off. Right now I have other uses for my money BUT one day the 7 will be mine!

But I will readily admit this: You need to be really secure with yourself to drive around a 10 year old Pontiac. I'm sure when any of my neighbors see me they think "wow, I certainly hope John starts going better." But I've tried to give a cr*p, and just can't.

 

[magagent]

Re: Will you work with low income people?

John that is hilarious! When I leave to go see someone in the 2000 ford taurus I know my neighbors are thinking the same thing! I am holding out for MY Mercedes CL63 AMG myself. 50% of the people I work with are low income people all day long or at least they claim to be low income people.