Selling Insurance to low income people?

[sdmink]

Re: Will you work with low income people?

Half of my first three months in the business was spent dealing with low income people thanks to Netquote...

Now, I've moved on to working with small businesses and associations, but I still spend a few hours a week helping my first clients change their bank account info or trying to convince them that they need to pay their premium.

One lady had me come out six different times to her home. She HAD to have this life insurance. After jumping through several hoops due to her felony convictions and health, I got her approved and guess how many months she paid her premium before falling behind? ONE!!

I too am done with low income people. They are the scum of our society and that's why their quality of life is so poor...

 

[briko3]

Re: Will you work with low income people?

"I too am done with low income people. They are the scum of our society and that's why their quality of life is so poor..."


That might be a little harsh, but I agree that they can be a pain to work with. Some of the low income people I've worked with are some of the nicest people that would do anything for you....they're just not always that bright.

 

[steveadlman]

Re: Will you work with low income people?

I sell final expense insurance to low income people to make $$$. If I just wanted to help low income people I could donate some time to the food bank, etc.

I'm glad you're not my insurance agent!

 

[theinsuranceman]

Re: Will you work with low income people?

I'm glad you're not my insurance agent!

Why, are you LOW INCOME? I sell insurance to make $$$, it's as simple as that. And I do it honestly and ethically. I also help families when I sell FE policies...but the bottom line is I do it to make $$$.

 

[Frank Stastny]

Re: Will you work with low income people?

This whole discussion would have a lot more meaning if "low income" was defined. To some "low income" may mean people who earn less than $50,000 per year. To others it may mean someone living on food stamps, collecting welfare and who doesn't have enough money to have a checking account.

If you all are talking about people who pay their bills with money orders if and when then pay them because they don't have enough money to open a checking account then no, I will not work with those people.

I'm sure they are very nice people but I am only interested in selling insurance to people who can afford it, not those who I can "talk into it" for a few months so I can make a couple of bucks in commission.

 

[steveadlman]

Re: Will you work with low income people?

This whole discussion would have a lot more meaning if "low income" was defined. To some "low income" may mean people who earn less than $50,000 per year. To others it may mean someone living on food stamps, collecting welfare and who doesn't have enough money to have a checking account.

If you all are talking about people who pay their bills with money orders if and when then pay them because they don't have enough money to open a checking account then no, I will not work with those people.

I'm sure they are very nice people but I am only interested in selling insurance to people who can afford it, not those who I can "talk into it" for a few months so I can make a couple of bucks in commission.

As a general rule the income range for FE is $10,000-50,000. I do not offer FE policies to people who cannot or will not pay by bank draft.
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Why, are you LOW INCOME? I sell insurance to make $$$, it's as simple as that. And I do it honestly and ethically. I also help families when I sell FE policies...but the bottom line is I do it to make $$$.

Whether I am low income or not has nothing to do with my earlier post.
I will take you at your word that you do business honestly and ethically.
If an agent is strictly motivated by how much money they can make off of their prospects whether they or low, middle or high income that agent usually will not have their prospects best interest in mind.

 

[Johnnyboy29073]

Re: Will you work with low income people?

As of today, I am through trying to do business with low income people. I never targeted this demographic, but if I happened to stumble across some one in my prospecting that expressed interest but was low income, I would still try to work it. Not anymore! This one was the last straw. I scheduled yesterday for an appointment today, got up early to get together the proposal and play with my software for her situation. I mapquested her address (ghetto, great), showed up, knocked on the door, and had a man try to have a conversation with me through the door. He finally sent their daughter to the door. She opened it, and explained that her mom asked me to come back later. I told her that I was too busy, and if she wanted to talk to me again she'd come to my office because I wasn't coming back as I drove too far in my gas guzzling truck for her to break our appointment that we had scheduled less that 24 hours before.

I'm normally not this harsh, but I'm just tired of low income people trying to put me to excess work. These people will not ever be straight with me. I find that these folks will tell you how interested they are, that they want you to come by, and then don't show or ask you to reschedule because they are soooooooo damn busy. The next appointment they seem to be too busy then too!

Does anyone ever even try to work with low income folks?

The answer to your posed question is "yes", you just got a bad taste of it.......probably because you failed to realize dealing with lower income folks requires a necessary next step of investigating/qualiflying budgets.

 

[Frank Stastny]

Re: Will you work with low income people?

If an agent is strictly motivated by how much money they can make off of their prospects whether they or low, middle or high income that agent usually will not have their prospects best interest in mind.

Amen!

This business is about helping one's prospect, providing genuine service, building relationships and renewals. Renewals are earned, they don't just happen by selling someone something.

 

[bobson]

Re: Will you work with low income people?

Some of my nicest clients are low income. Have been talking with a couple for about 3 months, no life, have 2 young kids, wife scared to death if something were to happen. Got him examined for 500,000, projected premium of 35 per month. Came back with nicotine in his system. Smokeless tobacco he told his wife he had quit. rate now goes to 88 per month. Had lunch with him today, told him if he quit it would drop big time, I think he will. These folks need agents that will shoot straight with them.

3 months is a little long. I'm not opposed to helping anyone out, but I'm not dragging my feet with someone for 3 months. We're not babysitters or wrestlers.

 

[steveadlman]

Re: Will you work with low income people?

The answer to your posed question is "yes", you just got a bad taste of it.......probably because you failed to realize dealing with lower income folks requires a necessary next step of investigating/qualiflying budgets.

I always call before I go on an appointment with my FE prospects. I do qualify them over the phone as far as the need, their health and if they can pay by bank draft. What you experience is typical in the low income group that is why it is so important to qualify your prospect over the phone and call before you go on your appointment.