Starting Frustration

[bigfrie]

When I started selling life insurance in 2009, AGLA wanted me to do a project 100 before being hired. What I did was get 100 names and numbers from the phone book.

I learned how to prospect because I knew that the project 100 wasn't for me. All I did was to have a goal of passing out 30 business cards a day before I went home and cold calling at least 2 hours a day.

That is how I built my business by talking to at least 30 different people a day and cold calling.

 

[The Rabbi]

Why not work the FE market? It's quick money and there are agencies that will provide reply cards. I hear the trick to success with FE is to just knock on their door with the reply card in your hand. Any disagreement on this plan?

 

[xrac]

When I started selling life insurance in 2009, AGLA wanted me to do a project 100 before being hired. What I did was get 100 names and numbers from the phone book.

I learned how to prospect because I knew that the project 100 wasn't for me. All I did was to have a goal of passing out 30 business cards a day before I went home and cold calling at least 2 hours a day.

That is how I built my business by talking to at least 30 different people a day and cold calling.

Are you still with AGLA?

 

[Emery Park]

Here is my opinion and I am also a short-timer, getting ready to celebrate 3 years in insurance sales.

1. Sell something that saves people money. I found it is much easier in this economy to get appointments if you are not asking people to spend more out of their wallet. Med-supps is a good place to start.
2. Quit selling your family, ANYBODY can do that and most likely they are not buying from you because you are an insurance professional but probably because they feel sorry for you. YOU WANT TO BE SEEN AS A PROFESSIONAL.
3. Get a phone dialer and a list of people in the demographics you choose to work and cold-call ALL DAY LONG until you sell something. (I can't ever remember an agent calling me or knockingon my door). If you talk to enough people you WILL find a client.
4. Take a self inventory of YOU, and be honest with yourself( you family deserves it). If you are not willing to take the steps listed here and by other agents, find a new job.

Right on to that! And as another contributor stated, start with one product. Learn it inside out until you believe in it 110%. It's easy to talk about something you believe in so much

 

[bigfrie]

Are you still with AGLA?

Nope; not as a captive agent. Switched to independent because AGLA changed our compensation structure.

They had us getting paid 28% on term and 40% on ul, and all health products went to 12% as earned. I make more money being independent.

I didn't see any reason to stay captive being that I still had to get my own leads.

 

[Rearden]

Look at the bright side. You're finding out what you're capable of. Going through all this is a true test of character.

This personally has been my most frustrating month so far. Most people have uncharacteristically put me off and requested I come back in January. This doesn't happen normally so I am willing to wager it's a function of the time of year. January will be much better.

I also personally suggest looking into final expense or the senior insurance markets. There's a great door-to-door thread in another forum worth looking at if you can't afford mail drops but need to prospect efficiently.

Did you still have to do the CORE project at SMG? I graduated in 2006. BU Football -- undefeated since the mid 90s...

 

[The Gimp]

Why not work the FE market? It's quick money and there are agencies that will provide reply cards. I hear the trick to success with FE is to just knock on their door with the reply card in your hand. Any disagreement on this plan?

This is what I was going to suggest. The $400 you spent on suits could've used for a mailer or some telemarketed leads.

Alternatively, you could do as others suggested and spend some time door knocking with the door to door survey. If the survey isn't your thing, just knock on the door, introduce yourself and offer to help them.

 

[ActingBoss]

Hello Everyone!

First post here. I'm having some frustration getting started as a Life Insurance Agent (passed life, and series 6; have not passed health, Series 63). Licensed in MA and NH (I live in Ma, my parents live in NH needed to register there to help out my folks and relatives).

It sounds like I am at a great company. Tons of training. Tons of classes. Tons of help from experienced reps. I have a business degree from BU and years of experience in a transfer agent on the phone.

I've been working since November, and have sold 1 life insurance case and 1 fixed annuity (to my Dad). My wife is stressing out about paying all the bills herself. I feel really bad about not being able to take some of that stress off of her. I have called everyone of the 200 people I know and 4 of them are in the works for buying something.

I need to make $500 in life insurance commissions from someone other than an immediate family member in order to get a ledger, get health coverage, and actually get some money. Really its the health coverage that's freaking my wife out. We live in MA, and I don't have any right now. I would buy some out of my own pocket but no 'open enrollment'. That's a whole different rant...

So far I have taken on a good amount of costs getting started (which will be written off to taxes). Around $300 in licensing and test prep. $400 for new suites and clothes... My managing partner even paid $250 of his own money when an unexpected cost came up.

What can I do to get going in this industry faster. I know that I'm going to be great at this. I love talking to people about personal finance. I love helping people through complex financial problems. I love being a resource for my friends and putting my experience to work.

Advice, encouragement, suggestions, tips are all welcome.

Thanks everyone for listening to my rant.

I assume that you either have no budget or cash for leads from the syntax you used above, so I'll suggest this:

1) forget about selling MedSupps....you have to be certified for it and that takes too long and you're young and have no gray hairs on your head....hence the older set will have a hard time with your credibility......no reflection on you, obviously, but the older set likes to buy from those who have a few battle scars, a few gray hairs..............I happen to have an ample supply of each.

2) most of the responses you've been given thus far have been just platitudes........from people who do nothing much more than dispense hot air all day long.........

what you need is a way to derive sales immediately.......right now.......not a month from now and not after you've bugged the hell out of all your friends and family and now they all duck when they see you coming.....selling Life Insurance is the the quickest way to do this....

the good news.........the leads can either be free or really, really inexpensive.....see below.......

the bad news.........you'd better be prepared to get told "no" in sometimes not so gentle terms many, many times per day.

3) if I were you and I had either no budget for leads or a limited amount for leads, I'd get a list of all mortgagors from your local area in the last year, scrub them against the DNC list, then smile and dial (for mortgage protection)........in almost every county the Register of Deeds offices have online records and the info can be culled free of charge..........

.....................................OR....................................

get a list of folks aged 50 to 70 with incomes of $10k to $40k in zips you select and then scrub and, again, smile and dial.....scan the telemarketing threads for scripts and by all means make sure YOU scrub the DNC lists for compliance, and don't take the word of some goofy list vendor that your list has been scrubbed........if you get caught calling those who have opted out and get fined or sanctioned, your list will do nothing but laugh while you're bleeding..........




................................OR................................


select a neighborhood known to fit your demographics and go door to door with a survey in hand a offer a free review of their current coverages........again consult the threads here on specific approaches or methods...


the point is this...........you need INEXPENSIVE (I assume) leads and a tremendous amount of contacts to make it work........don't overcomplicate things....dig into the Life aspect and pick the product you want to sell, take a few hundred patience pills, and get to work.

 

[tins]

I assume that you either have no budget or cash for leads from the syntax you used above, so I'll suggest this:

1) forget about selling MedSupps....you have to be certified for it and that takes too long and you're young and have no gray hairs on your head....hence the older set will have a hard time with your credibility......no reflection on you, obviously, but the older set likes to buy from those who have a few battle scars, a few gray hairs..............I happen to have an ample supply of each.

2) most of the responses you've been given thus far have been just platitudes........from people who do nothing much more than dispense hot air all day long.........

what you need is a way to derive sales immediately.......right now.......not a month from now and not after you've bugged the hell out of all your friends and family and now they all duck when they see you coming.....selling Life Insurance is the the quickest way to do this....

the good news.........the leads can either be free or really, really inexpensive.....see below.......

the bad news.........you'd better be prepared to get told "no" in sometimes not so gentle terms many, many times per day.

3) if I were you and I had either no budget for leads or a limited amount for leads, I'd get a list of all mortgagors from your local area in the last year, scrub them against the DNC list, then smile and dial (for mortgage protection)........in almost every county the Register of Deeds offices have online records and the info can be culled free of charge..........

.....................................OR....................................

get a list of folks aged 50 to 70 with incomes of $10k to $40k in zips you select and then scrub and, again, smile and dial.....scan the telemarketing threads for scripts and by all means make sure YOU scrub the DNC lists for compliance, and don't take the word of some goofy list vendor that your list has been scrubbed........if you get caught calling those who have opted out and get fined or sanctioned, your list will do nothing but laugh while you're bleeding..........




................................OR................................


select a neighborhood known to fit your demographics and go door to door with a survey in hand a offer a free review of their current coverages........again consult the threads here on specific approaches or methods...


the point is this...........you need INEXPENSIVE (I assume) leads and a tremendous amount of contacts to make it work........don't overcomplicate things....dig into the Life aspect and pick the product you want to sell, take a few hundred patience pills, and get to work.

 

[Daytona_Guy]

I assume that you either have no budget or cash for leads from the syntax you used above, so I'll suggest this:

1) forget about selling MedSupps....you have to be certified for it..

No, you don't, and it's the easiest form of insurance to sell. They (90%) already have it, understand it, and you can provide value by giving them a better price and a relationship with someone who cares. There is NO certification to sell Medicare Supplements, but it's not fast, big money.

.....selling Life Insurance is the the quickest way to do this....

This, I would agree with. Selling life is the quickest money but takes serious work, as you outlined in your post, or, go with a proven final expense lead generation company and spend your time selling rather than prospecting all day. That's where the money is.

Your ROI percentage will be fantastic if you spent all day prospecting, writing letters, begging for business.
Your 1099 at the end of the year, though, will be higher if you work smarter rather than harder by having a reputable company do the mailings or lead generation for you, leaving you with only being focused on getting applications in. There are a number of good companies that can do this for you right now.

My platitudes after 16 years...but what do I know?