The I Love Selling FE "February to Remember" Thread

[Newby]

Yesterday I went out and knocked doors. I had one pre-set appointment (I was actually late for). It was the same one who I mentioned previously that had put me off on two different appointments. I got in, quoted him and his wife. They agreed to the premiums, but I still couldn't seal the deal. First off, they said they couldn't give me a check (they want to pay quarterly) till the beginning of the month. I know from reading some other threads this is sometimes an issue. I'm not sure how to overcome that so if you know please chime in.

The other issue was that the wife needs a guaranteed issue policy. I am set up with AIG, but only just and don't have paper apps yet. This couple had no email so I couldn't do an e-app. Hopefully, I'll close that at the beginning of the month.

I met with another guy who, I again, failed to close. His deal is that he wanted to nail down his funeral costs and doesn't want a dime more insurance than he needs to put himself in the ground. I'll be following up with him both on his auto insurance and this FE policy. Because he wants to go to a local funeral home and nail down costs my guess is they will make some play at a "discount" if they take the policy out with him. I really don't know much about how funeral homes prices and sell.

I ended the day with a health insurance appointment with an old client that I won't make any money of off. They went with BlueCross and they don't pay commission in TN. The guy needed help though so I felt good about it. He's bedridden and was in tears when he found out he was able to get coverage.

As far as the FE business goes I think yesterday helped me understand it a lot. I need to get more familiar with my carriers and have all my paper apps ready. That will come with time and UPS. It actually felt a lot like open enrollment to me. Running around from home to home and meeting with people. There will be more rejection with FE than I have had with health or Medicare, but that's because so much of that business was referral driven. A referral sale is super easy. I'm just gonna have to relearn how to flex my closing muscles a little and pound the pavement.

The next two weeks will be revealing as to whether it's gonna work for me.

Something you will learn real quick is the power of the word NO.

When someone wants to be billed monthly or quarterly and needs to wait until the get paid the answer is always NO. You are wasting your valuable time. If you come back when they tell you they will not have the money and have a new excuse 98% of the time. And the others will lapse at their 2nd payment.

You have a solution for them TODAY if they want insurance. You can set up a monthly bankdraft today that will not draft until the date they need it on (their deposit date). THAT is the solution. Anything else gets a NO that s not how it works. If they want the insurance they will set up the draft when they are told no. If they really don't want it you just found out the truth and cut through a bunch of run around.

People who insist on quarterly billing but write a check today for the first quarter are fine. Always collect the 1st check on quarterly payers. They are good payers IF they have the money today. If they say wait until such and such, nope. That doesn't work.

We all learned these things the hard way.

 

[benneaf]

Well...so far I really, really suck at this. And...I think it really is me. The last five years I have grown accustomed to working off referrals...and that's a lazy way to work. As most everyone does I can close most any qualified referral...because it's a freakin' referral. I'm not used to having to flex my "sales muscle" just to get into the door or even to close.

Speaking of closing I use a two appointment close most of the time with Med Supps and it's always seemed to work for me. I am finding moving to a one call close is an adjustment...that I haven't made yet.

I'm also adjusting to the lack of urgency by the client. Most of my Med Sup business is T65's and so there's kind of a deadline. With FE...no deadline except death...which no one thinks is coming soon.

So far I am getting crappy response from calling to set appointments on weekends. I'm going to throw in more evening calling sessions and I'll have to evening door knock some of the younger ones that are still working and not answering the phone.

Funny story...I door knocked one yesterday and this old lady comes to the door. Dog barking like a maniac so we can hardly hear and it's trying it's best to get out between her legs. I show her the card and say is "so and so" in,he sent in this card to get some information on insurance benefits. "He's in jail, honey." I've done a fair amount of door knocking in the last 6 yrs, but I don't think I've heard that one before.

So to sum up. So far no sales. None. Not one. Zippo. Nada. Only a handful of appointments. Judging by how my two step Medicare appointments go I do think I will close some of these eventually, but I've been wrong before. At the end of the day I think I've gotta get more aggressive with the first step which is getting into the house. This ain't an easy gig.

 

[Northeast Agent]

I show her the card and say is "so and so" in, he sent in this card to get some information on insurance benefits. "He's in jail, honey."

I would have said to her, "the next time you talk to him, ask what he was thinking when he filled out the card."

 

[goillini52]

Well...so far I really, really suck at this. And...I think it really is me. The last five years I have grown accustomed to working off referrals...and that's a lazy way to work. As most everyone does I can close most any qualified referral...because it's a freakin' referral. I'm not used to having to flex my "sales muscle" just to get into the door or even to close.

Speaking of closing I use a two appointment close most of the time with Med Supps and it's always seemed to work for me. I am finding moving to a one call close is an adjustment...that I haven't made yet.

I'm also adjusting to the lack of urgency by the client. Most of my Med Sup business is T65's and so there's kind of a deadline. With FE...no deadline except death...which no one thinks is coming soon.

So far I am getting crappy response from calling to set appointments on weekends. I'm going to throw in more evening calling sessions and I'll have to evening door knock some of the younger ones that are still working and not answering the phone.

Funny story...I door knocked one yesterday and this old lady comes to the door. Dog barking like a maniac so we can hardly hear and it's trying it's best to get out between her legs. I show her the card and say is "so and so" in,he sent in this card to get some information on insurance benefits. "He's in jail, honey." I've done a fair amount of door knocking in the last 6 yrs, but I don't think I've heard that one before.

So to sum up. So far no sales. None. Not one. Zippo. Nada. Only a handful of appointments. Judging by how my two step Medicare appointments go I do think I will close some of these eventually, but I've been wrong before. At the end of the day I think I've gotta get more aggressive with the first step which is getting into the house. This ain't an easy gig.

It's you. Keep it simple when trying to set the appointment. Don't try to qualify until you get more experienced. All you want to do is get in the house.

I don't understand why you would make it a 2 call close. Close it now!!! If you come back for the 2nd appointment, they will have thought of reasons why not to buy. Having a 2 call close is for big life policies or annuities...NOT for FE and Med Supps.

 

[rousemark]

Well...so far I really, really suck at this. And...I think it really is me. The last five years I have grown accustomed to working off referrals...and that's a lazy way to work. As most everyone does I can close most any qualified referral...because it's a freakin' referral. I'm not used to having to flex my "sales muscle" just to get into the door or even to close.

Speaking of closing I use a two appointment close most of the time with Med Supps and it's always seemed to work for me. I am finding moving to a one call close is an adjustment...that I haven't made yet.

I'm also adjusting to the lack of urgency by the client. Most of my Med Sup business is T65's and so there's kind of a deadline. With FE...no deadline except death...which no one thinks is coming soon.

So far I am getting crappy response from calling to set appointments on weekends. I'm going to throw in more evening calling sessions and I'll have to evening door knock some of the younger ones that are still working and not answering the phone.

Funny story...I door knocked one yesterday and this old lady comes to the door. Dog barking like a maniac so we can hardly hear and it's trying it's best to get out between her legs. I show her the card and say is "so and so" in,he sent in this card to get some information on insurance benefits. "He's in jail, honey." I've done a fair amount of door knocking in the last 6 yrs, but I don't think I've heard that one before.

So to sum up. So far no sales. None. Not one. Zippo. Nada. Only a handful of appointments. Judging by how my two step Medicare appointments go I do think I will close some of these eventually, but I've been wrong before. At the end of the day I think I've gotta get more aggressive with the first step which is getting into the house. This ain't an easy gig.

First of all, your attitude getting to be on the negative side but that is understandable.. However, you need to find a way to remain postie..

Second there is nothing lazy about working referrals.. Most agents won't work at getting referrals.. If you are successful with referrals in med supp, it will work with FE You sound like you have a base of med supp customers, go back to them with a final expense presentation. They bought from you once and lot of them will do it again... Then, while you are there get referrals from every one of them, those that buy and those that don't... You are bound to pick up a few sales and the will pick up the attitude..
Do you have an upline that will help you? If not, get on youtube and watch everything you find on selling FE, from the approach to the close.. David Duford has some good videos:

David Duford

Doug Massi:
Final Expense Trainer

Matt Mungia:
Matt Mungia The Insurance Squad

There are others but these three come to mind as they are are on the forum.. I think Massi even provides links to hard copies of his presentation..

 

[Todd King]

Well...so far I really, really suck at this. And...I think it really is me. The last five years I have grown accustomed to working off referrals...and that's a lazy way to work. As most everyone does I can close most any qualified referral...because it's a freakin' referral. I'm not used to having to flex my "sales muscle" just to get into the door or even to close.

Speaking of closing I use a two appointment close most of the time with Med Supps and it's always seemed to work for me. I am finding moving to a one call close is an adjustment...that I haven't made yet.

I'm also adjusting to the lack of urgency by the client. Most of my Med Sup business is T65's and so there's kind of a deadline. With FE...no deadline except death...which no one thinks is coming soon.

So far I am getting crappy response from calling to set appointments on weekends. I'm going to throw in more evening calling sessions and I'll have to evening door knock some of the younger ones that are still working and not answering the phone.

Funny story...I door knocked one yesterday and this old lady comes to the door. Dog barking like a maniac so we can hardly hear and it's trying it's best to get out between her legs. I show her the card and say is "so and so" in,he sent in this card to get some information on insurance benefits. "He's in jail, honey." I've done a fair amount of door knocking in the last 6 yrs, but I don't think I've heard that one before.

So to sum up. So far no sales. None. Not one. Zippo. Nada. Only a handful of appointments. Judging by how my two step Medicare appointments go I do think I will close some of these eventually, but I've been wrong before. At the end of the day I think I've gotta get more aggressive with the first step which is getting into the house. This ain't an easy gig.

Sounds like you're overthinking it a little when it comes to the closing the med supps. I'm sure you establish that you are saving them money, so who wouldn't want to do that. Assume the close in this situation. Just ask for their little red, white, and blue card to get them going.

As for FE....absolutely go back to your existing client base and start there.

If you are trying to market FE, then I must ask....what demographics (age and income) are you using?

 

[benneaf]

It's you. Keep it simple when trying to set the appointment. Don't try to qualify until you get more experienced. All you want to do is get in the house.

I don't understand why you would make it a 2 call close. Close it now!!! If you come back for the 2nd appointment, they will have thought of reasons why not to buy. Having a 2 call close is for big life policies or annuities...NOT for FE and Med Supps.

Yes, I have to learn more about closing with one call on the FE side. On the Medicare side I've never had an issue with a 2 call close. I rarely lose anyone between the two appointments. The one I can remember was someone who had a relative get into the business and there's not much you can do about that.

Part of my lack of appointment setting is a lack of answered calls. I am not trying to qualify at appointment setting.

I need some new sales techniques to learn the ine call close. I'll get it eventually..,with everyone's help.

 

[benneaf]

Sounds like you're overthinking it a little when it comes to the closing the med supps. I'm sure you establish that you are saving them money, so who wouldn't want to do that. Assume the close in this situation. Just ask for their little red, white, and blue card to get them going.

As for FE....absolutely go back to your existing client base and start there.

If you are trying to market FE, then I must ask....what demographics (age and income) are you using?

Most of my Medicare business is T65 so there is a lot of new to Medicare education I do. That part leads it to be a pretty decent length appointment...I probably need to trim that down some.

I do believe that my 2 call close, along with birthday cards and occasional calls helps my persistence. From year to year I'd say I only lose about 1% of my client base....course the problem is that it's a pretty tiny base.

I have done quite a bit of insurance with my base the last few years and some of those have been larger non-FE policies, but I've also not had the carriers that are really competitive in the FE space so I've probably missed a few replacements.

I am doing direct mail BRC's for FE lead generation.

 

[Todd King]

Most of my Medicare business is T65 so there is a lot of new to Medicare education I do. That part leads it to be a pretty decent length appointment...I probably need to trim that down some.

I do believe that my 2 call close, along with birthday cards and occasional calls helps my persistence. From year to year I'd say I only lose about 1% of my client base....course the problem is that it's a pretty tiny base.

I have done quite a bit of insurance with my base the last few years and some of those have been larger non-FE policies, but I've also not had the carriers that are really competitive in the FE space so I've probably missed a few replacements.

I am doing direct mail BRC's for FE lead generation.

I do apologize. I was assuming you did the over 65 crowd. That explains the two-call close.

Once again though, on the FE mailers....what are your demographics. If you are not using $0 for your low income level, you're missing much of the FE crowd. The ones with a higher income usually already have something in place, or the best you could do might be a little add-on policy or something. Also, don't try to market to the 50 year old folks. Go more like 60 - 78 or so. You might even want to tighten it up from there....say ages 62-75.

 

[benneaf]

First of all, your attitude getting to be on the negative side but that is understandable.. However, you need to find a way to remain postie..

Second there is nothing lazy about working referrals.. Most agents won't work at getting referrals.. If you are successful with referrals in med supp, it will work with FE You sound like you have a base of med supp customers, go back to them with a final expense presentation. They bought from you once and lot of them will do it again... Then, while you are there get referrals from every one of them, those that buy and those that don't... You are bound to pick up a few sales and the will pick up the attitude..
Do you have an upline that will help you? If not, get on youtube and watch everything you find on selling FE, from the approach to the close.. David Duford has some good videos:

David Duford

Doug Massi:
Final Expense Trainer

Matt Mungia:
Matt Mungia The Insurance Squad

There are others but these three come to mind as they are are on the forum.. I think Massi even provides links to hard copies of his presentation..

I am working with my up line more closely and I think have been given some good advice...future posts will reveal that.

As far as lazy I mean that I have not had to develop my skills in overcoming objections. In educating my T65's I've covered most everything...there aren't objections, just a clarification question here and there.

With FE I do have to be more aggressive about getting in the door. With a referral there is little to no hesitation about meeting with me. With FE there is a learning curve on which carriers are good in what scenario. With T65 Medicare its all guaranteed issue. That's more what I mean by lazy. I've done nothing but easy sales. I know FE isn't rocket science, but I am gonna have to work harder at it that I have been in my T65 business.