Selling Mortgage Protection Insurance?

[insuranceoh]

I have my health insurance license and will be pursuing my life insurance next month.

I am looking at transitioning to a 2nd career and I am looking at my options in the insurance field. I am a 25 year veteran in sales and have spent the past 15 doing very well as a professional B2B prospector. As that market is beginning to dry up I am looking at my other options.

I received my health license in 2012 and went on with Physicians Mutual, which as a mistake. I did quite a bit of work in the senior market previous to my current position so I like the idea of med supps. Physicians was a bad fit for me because in the end I determined it to be an overpriced product that I myself, are there "free leads" were worth about what I paid for them...zero.

At any rate, I spoke with someone a Symmetry Financial recently who turned me on to mortgage protection products. I do like the concept but wanted to know the real viability in the market.

I've also reconsidered the med supp market, though with a product I believe in, maybe even a medicare advantage product.

 

[TwiLight]

One Piece of advice. Avoid IMO's that have a multiple Upline or MLM structure. You will always get screwed out of commission.

They mostly care about selling their overworked leads (sold to agents multiple times) at a premium price. They rarely have anyone that actually knows how to sell in your upline and will have very little product knowledge of the plans they are selling...... Don't even ask if they know what an IUL is.

Good luck in your search, Mortgage Protection is a fantastic market if you get with the right agency that can mentor you and give you fair commissions and fresh leads.

Skipper

 

[Glen Shelton]

I have my health insurance license and will be pursuing my life insurance next month.

I am looking at transitioning to a 2nd career and I am looking at my options in the insurance field. I am a 25 year veteran in sales and have spent the past 15 doing very well as a professional B2B prospector. As that market is beginning to dry up I am looking at my other options.

I received my health license in 2012 and went on with Physicians Mutual, which as a mistake. I did quite a bit of work in the senior market previous to my current position so I like the idea of med supps. Physicians was a bad fit for me because in the end I determined it to be an overpriced product that I myself, are there "free leads" were worth about what I paid for them...zero.

At any rate, I spoke with someone a Symmetry Financial recently who turned me on to mortgage protection products. I do like the concept but wanted to know the real viability in the market.

I've also reconsidered the med supp market, though with a product I believe in, maybe even a medicare advantage product.

If you are already comfortable in the senior market, I would highly recommend Medicare Supplements! I have sold quite a bit of Mortgage Protection and it can be tough generating leads for that market (Also can be VERY competitive).

While you are considering all your options - check out this post on my blog where I compare Final Expense Life Insurance sales to Medicare Supplement sales:

The Differences Between Final Expense and Medicare Supplements - Lead Heroes

 

[insuranceoh]

Thanks. Is anyone familiar with Symmetry Financial for mortgage protection and final expense? They are touting $27 exclusive mail leads...they claim they remain exclusive for 5 weeks.

 

[Jaymon]

One Piece of advice. Avoid IMO's that have a multiple Upline or MLM structure. You will always get screwed out of commission.

They mostly care about selling their overworked leads (sold to agents multiple times) at a premium price. They rarely have anyone that actually knows how to sell in your upline and will have very little product knowledge of the plans they are selling...... Don't even ask if they know what an IUL is.

Good luck in your search, Mortgage Protection is a fantastic market if you get with the right agency that can mentor you and give you fair commissions and fresh leads.

Skipper

NAA and Symmetry are MLM's? Your kidding!

 

[Deadlily]

Thanks. Is anyone familiar with Symmetry Financial for mortgage protection and final expense? They are touting $27 exclusive mail leads...they claim they remain exclusive for 5 weeks.

If you run a search for this IMO in the forum search box, you will discover that Symmetry Financial is the type of IMO that Skipper warned you about! They pay very low commissions, “recruit, recruit, recruit” the masses and resell their leads, over & over & over again. They also refuse to release you once you discover you made a bad choice when you contracted with them.

 

[Okieflyover]

I found an IMO I like with 105% commission starting out. Selling Mutual of Omaha, Transamerica, Foresters and others. As a 10 plus year agent it feels good helping people with some medical issues that had thought they couldn't get Life Insurance. I looked at NAA and almost pulled the trigger then got blasted by multiple people trying to get me in Symmetry. Got a good model going with my current IMO. A long term Transamerica exec started the outfit I am in. Averaging $15,000 a month in AP. Can't complain. I am on here looking for more ways to market for this as we have a good production model. But always tweaking the marketing!!!