the best way to get leads?

[James]

It really all comes down to how you market.

We are flooded with IFP leads, because that is our model.

It just depends where and how you are concentrating your efforts.

I know a lot of agents that could care less about Health, they use it to get in the door with life. One agent I know personally is making about $40k/mo in IFP which he told me for years "he could care less" about... I bet he cares now... lol

He only sold BCBS which was a lower commission (still is), but he said people would keep BCBS longer due to the name.

I think he was on to something.

Some are just great at what they do. While I wouldn't say not to do it but, in general if one is going to sell life or DI I wouldn't suggest limiting the first prospecting efforts towards health. Not saying it wouldn't work but, that it just is not the only way or the best way. As always, it depends upon the person doing it, yet I wouldn't suggest it in general.

Remember, there is always exceptions but, I don't see why anyone would plan on being the exception. I can view this board and active members, most who are heavy into selling Health have serious problems selling Life or even DI (?) and visa versa.

 

[HomeService]

As far as I know, AGLA will not let you sell health, they are strictly life only and captive. So, that's why I have suggested getting with a good quality health agent -and referring all health stuff to him or her. And concentrating on life ins.

 

[moonlightandmargaritas]

The main problem I see here is that most people already have health! I am thinking that something like 70% of people get health via employment and basically (most of them) untouchable to the individual health agent. Another 10-15% simply will not pay for health insurance (and 30% of these can easily afford health insurance). So basically the above strategy suggest that you limit your market to some 20% of all people.

Yes, and no.

The IFP market is actually quite smaller, encompassing only 4-5% of the total market.

I believe you'll be more successful with a defined target-market (workin' it like hell) than you will trying to be all things to all people.

My specialty is self-employed and small biz folks. A quick check of Sales Genie finds a universe of over 28,000 businesses here in Tampa Bay with 1-4 employees. That's plenty!

I go in on health because it's a "demand" product. After gaining a new client, I attempt to also place life and DI. I've been blessed, the approach has been quite successful.

 

[James]

Yes, and no.

The IFP market is actually quite smaller, encompassing only 4-5% of the total market.

I believe you'll be more successful with a defined target-market (workin' it like hell) than you will trying to be all things to all people.

My specialty is self-employed and small biz folks. A quick check of Sales Genie finds a universe of over 28,000 businesses here in Tampa Bay with 1-4 employees. That's plenty!

I go in on health because it's a "demand" product. After gaining a new client, I attempt to also place life and DI. I've been blessed, the approach has been quite successful.

I'm not sure why the statement "to be all things to all people", who said anything about that? Oh well, if it works for you go get'em tiger!

 

[James]

Yet I never did understand why all Health Agents don't cross sell DI aggresively? Just such a common theme of the two seems like its a natural!

"Now lets talk about the other half of your Health Plan"

 

[arnguy]

IMHO, James, I think that health agents are reluctant to sell DI because it is not an easy sale. Also, it is a complicated product with pretty rigid underwriting. I believe many heallth agents don't understand DI. As you indicated, it would appear to be a natural for health agents.

 

[Crabcake Johnny]

I don't have the extra 3 hours to do a DI presentation and app.

 

[moonlightandmargaritas]

IMHO, James, I think that health agents are reluctant to sell DI because it is not an easy sale. Also, it is a complicated product with pretty rigid underwriting. I believe many heallth agents don't understand DI. As you indicated, it would appear to be a natural for health agents.

Depending on the type of client, it's actually a pretty easy sale.

For Joe the greeter down at the WalMart, you probably won't have much luck.

If you work with professionals like docs, attorneys, accountants, architects, etc., they tend to be more greedy thereby seeing the need, if you will.

I go in on the major medical first, and if there's going to be underwriting problems, I know them in advance.

Big Premium = Good Comp.

 

[James]

IMHO, James, I think that health agents are reluctant to sell DI because it is not an easy sale. Also, it is a complicated product with pretty rigid underwriting. I believe many heallth agents don't understand DI. As you indicated, it would appear to be a natural for health agents.

No doubt many do have misconception of DI! Yet we have this, by John; "I don't have the extra 3 hours to do a DI presentation and app." Here is the teleapp I use, doesn't take three hours! I'm thinking you are thinking of LTCi.

http://forms.illinoismutual.net/TELAPP21 _TN.PDF or http://forms.illinoismutual.net/APP21A.PDF

Okay, from start to finish it may take three hours, sometimes quicker depending upon the client. Yet, it pays good and a product no one should be without! Esp. small business owners and the self employed. Get sick or injured, business stops, money stops flowing, how exactly are they going to be able to pay that health premium when they need it the most? In other words if a self employed person can no longer do his or her job, how long can they make it with no paycheck?

 

[J.R.]

No doubt many do have misconception of DI! Yet we have this, by John; "I don't have the extra 3 hours to do a DI presentation and app." Here is the teleapp I use, doesn't take three hours! I'm thinking you are thinking of LTCi.

http://forms.illinoismutual.net/TELAPP21 _TN.PDF

Okay, from start to finish it may take three hours, sometimes quicker depending upon the client. Yet, it pays good and a product no one should be without! Esp. small business owners and the self employed. Get sick or injured, business stops, money stops flowing, how exactly are they going to be able to pay that health premium when they need it the most? In other words if a self employed person can no longer do his or her job, how long can they make it with no paycheck?

Isn't SS supposed to take care of that????


Sorry, I couldn't resist. I probably should have put that comment in Chumps top 10 post.