Term Insurance Leads

Yup. They mentioned trying to get the old agent to do a review. They wanted to buy a few more years. The guy never had time to meet with them.

They do not need the insurance. They want the insurance. They are the millionaire next door type. Net worth at one million, pension, paid off home, IRAs and $300,000.00 in the bank. Mama wants more cash for the 26 and 24 year old daughters.

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Did you place him?

On them being rated, remember you did not break it.

I think compulife allows adding a table rating. I prefer to use the company software or winflex to get a full illustration on table rated cases.

Rule of thumb on ratings is add 25% per table to standard. However, there are differences such as Banner tables to standard plus.

Always have a fall back in mind. Maybe even bring it up during the meeting letting them know you have options ready.

I have to check out winflex. I've never used it and apparently it's very useful as the IMO I'm with uses it. What company are you with? I remember when I was with Mass Mutual I was able to table rate quotes. How can you find out who table rates to what? I normally use Banner Life actually but was thinking of trying with Transamerica for their living benefits product.

And yes I did place him. He never mentioned that he tried to go with another company and was denied. I guess he was happy he was approved.
 
I have to check out winflex. I've never used it and apparently it's very useful as the IMO I'm with uses it. What company are you with? I remember when I was with Mass Mutual I was able to table rate quotes. How can you find out who table rates to what? I normally use Banner Life actually but was thinking of trying with Transamerica for their living benefits product.

And yes I did place him. He never mentioned that he tried to go with another company and was denied. I guess he was happy he was approved.

I have most of the term companies. Until you can make an educated guess on a rating a good IMO should be able to do it. I also call the companies and get an eval from the underwriters. Remember if your IMO is only offering contacts you do not need them. You can dual contact with most life insurance companies.
 
Aged term leads can be gold if you are willing to work them the right way. As I mentioned in another thread, the majority of term shoppers make a buying decision 4-8 weeks after the initial inquiry. A good many actually wait 3-6 months before purchasing. I forget the exact percentages, but there have been a couple different studies done on internet quote inquiries.

Part of the reason for this is that people are often bombarded by calls and get pissed. The other reason is that most people are just not in a hurry to purchase life insurance. They do not see it as an immediate need like they do health insurance.

If you find a list of aged term leads, especially exclusive leads. I suggest sending an email, and then following up with a phone call the next day. Simply ask if they have got the life insurance in place that they requested info on, and if not, are they interested in seeing a comparison of the top 3 carriers for their choice of plan. Remind them that previous quotes could be incorrect now due to them now being older since some companies use age nearest and others use exact age.

Some of the largest term producers in the nation buy aged term leads and have a team of telemarketers call them. Remember that most agents are poor & not big producers... so when the majority of agents say something doesnt work always take that with a big grain of salt.

I don't know if you have worked aged leads lately but the days of easy money are gone. Now that call centers are in on the game it is a lot more difficult to make a lot of money.

Of course there is still money to be made, it is just with being a business man, not an insurance agent.
 
I don't know if you have worked aged leads lately but the days of easy money are gone. Now that call centers are in on the game it is a lot more difficult to make a lot of money.

Of course there is still money to be made, it is just with being a business man, not an insurance agent.

It all depends on the source of the aged leads. Not all are re-sold every single month for 6 months after the initial request.

It isnt like it was 7 or 8 years ago. And I havent bought a life lead in at least 4 or 5 years. But I know guys who are still very profitable from aged life leads. I know a guy who produces around $10k/m in premium just off of his aged life leads alone. He used to call himself but now he has trained someone to call for him inhouse.
 
Just curious. What software is as comprehensive as Compulife without having to go through a marketer? Rick

I hear some association has software almost identical to Compulife. And they give it away for free.
 
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