Selling life insurance to employees (not Group Life)

[jmoney_comparion]

I'm a fairly new agent, about a year in. Independent with an IMO, but doing things my own way. I was looking for alternatives to buying leads. I recall when I was W2 employee, sometimes a person from Aflac or a bank would come in, and hang out, give a presentation etc. to try and gain business from the individual employees.

Has anyone done this for life insurance? Not group life, as I'm not contracted for that.

Curious what the outcomes were, what might be required, tips for how to get in etc. Thanks in advance.

 

[somarco]

Ancillary lines like that are often done via payroll deduction . . . selling small face amounts, simplified issue, etc.

The AFLAC guy or gal usually has life insurance in their kit as well and make it a package presentation.

 

[jmoney_comparion]

What about for companies that don't offer group life insurance?

 

[LeeV]

Not saying that it could not happen, but the chances of going into an employer with just individual life insurance is very rare. As Somarco said, the way in to the group is some kind of group product or voluntary.

 

[jmoney_comparion]

When you say voluntary, I believe that is what I originally was thinking. Allow me to explain further as I'm afraid I wasn't clear at all.

Anyway, here's what I was thinking. From my previous job, I have a ton of contacts and friends that are business owners. Not all of them offer benefits.

My thought was to make arrangements with them to come in and see their staff, provide some education around life insurance and if they want it to provide them with voluntary life insurance.

Hopefully that makes more sense.

 

[LeeV]

When you say voluntary, I believe that is what I originally was thinking. Allow me to explain further as I'm afraid I wasn't clear at all.

Anyway, here's what I was thinking. From my previous job, I have a ton of contacts and friends that are business owners. Not all of them offer benefits.

My thought was to make arrangements with them to come in and see their staff, provide some education around life insurance and if they want it to provide them with voluntary life insurance.

Hopefully that makes more sense.

I am aware of what you asked and want to do. Your product for life insurance will be some form of UL/WholeLife/Term, or perhaps DI. Voluntary to me, and others in the group business, means plans such as AFLAC. Either way, as I mentioned earlier, not saying the employer will say no, but very few, if any, will say yes.

What I would suggest is using the group/voluntary product(s) as a way in. You have a good idea, and it can be profitable.

 

[Cornelius]

You can do it. I know a guy in FL who is doing just that but the concentration is with small businesses.

You can also depending on your state offer Obama care through the federal program.

 

[rousemark]

I'm a fairly new agent, about a year in. Independent with an IMO, but doing things my own way. I was looking for alternatives to buying leads. I recall when I was W2 employee, sometimes a person from Aflac or a bank would come in, and hang out, give a presentation etc. to try and gain business from the individual employees.

Has anyone done this for life insurance? Not group life, as I'm not contracted for that.

Curious what the outcomes were, what might be required, tips for how to get in etc. Thanks in advance.

Yes, it is done with life insurance and has been done for many, many years.

https://www.insurancejournal.com/pdf/InsuranceTimes_20030805_39314.pdf

 

[Lloyds of Lubbock]

Have you tried doing seminars in hospitals.
Every hospital has a room used for meetings.
You have to find out who is in charge of scheduling.
Young interns love free lunches.
It does not have to be extravagant...I usually did a 4 ft hero and sides.
I would do a disability seminar during lunch.
I picked up clients, never a home run but I rarely lost money on the event.
Have an attendance sheet that includes email addresses.
Send out a disability newsletter every month.
If you are not confident in making the presentation, ask your wholesaler to do it.
He may even cover part of the bill.

 

[Allen Trent]

I'm a fairly new agent, about a year in. Independent with an IMO, but doing things my own way. I was looking for alternatives to buying leads. I recall when I was W2 employee, sometimes a person from Aflac or a bank would come in, and hang out, give a presentation etc. to try and gain business from the individual employees.

Has anyone done this for life insurance? Not group life, as I'm not contracted for that.

Curious what the outcomes were, what might be required, tips for how to get in etc. Thanks in advance.

get appointed with a couple of group life carriers or an IMO that has access to several. Then, get appointed with carriers or IMO that offers worksite individual voluntary life policies. From there, you can have the employees become your customers & pivot to better coverage for those that need & want more coverage or better products than are available with worksite voluntary/group.