Well, at least I tried

[Paradigm]

IMO sales career does favor certain personalities over others. Hard work does not always = success in this field. You've gotta have "it" (whatever that is). If you've got only a little bit of "it" you can make a living by working very hard. If you've got a lot of "it" you can still make a living without working very hard. If you've got "it" and work hard, you've got "it" made.

You are right and that "IT" factor is the confidence and the willingness to strive. The person may have acquired this confidence by a pattern of success in athletics, academics, or their personal life. At their core they believe they were born to win and deserve to be successful. That is the "IT" factor.

 

[Frank Stastny]

This thread should be mandatory reading for all agents both seasoned and new. Great information and advice here from all of you.

Al, Mark and Bob's posts are outstanding! Just to mention a few. Hell, it's 6:22 am and I wanted to pick up the phone and start making calls right now.

I'd like to add something but you guys have said it all, probably a lot better than I could have.

Jaugusta, if you ever want to give it another try I'll be more than happy to share what I have learned about this business. I don't know a whole lot about other lines of insurance but I think I have the senior market "nailed". All you have to do is give me a call.

I think this should be made a sticky titled "Are you discouraged?"

 

[Russ]

You are right and that "IT" factor is the confidence and the willingness to strive. The person may have acquired this confidence by a pattern of success in athletics, academics, or their personal life. At their core they believe they were born to win and deserve to be successful. That is the "IT" factor.

While that is true...right now the economy sucks...folks are losing jobs everywhere...construction, teachers, insurance companies, radio stations, TV stations, etc......

I know of 3 in construction....2 are getting in 3 days a week. Another is working for a construction outfit that's laid off 200. In Florida..."More than a quarter of the state's jobless, though, were construction workers. Building construction has lost more than 111,000 employees since last February, a 20 percent drop, according to state figures."...from...Jobless ranks grow here, across Florida | state, people, unemployment - News - Northwest Florida Daily News

Just have to find folks with money. That has become harder. So while being a "winner" helps, there are other factors that make winning harder right now.

If you're not making 6 figure money selling insurance, you're not really making it. Not in today's world.

The good news if you're an independent insurance agent, only you can fire or lay-off yourself.

 

[Frank Stastny]

While that is true...right now the economy sucks...folks are losing jobs everywhere...construction, teachers, insurance companies, radio stations, TV stations, etc......

I know of 3 in construction....2 are getting in 3 days a week. Another is working for a construction outfit that's laid off 200. In Florida..."More than a quarter of the state's jobless, though, were construction workers. Building construction has lost more than 111,000 employees since last February, a 20 percent drop, according to state figures."......

Just have to find folks with money. That has become harder. So while being a "winner" helps, there are other factors that make winning harder right now.

If you're not making 6 figure money selling insurance, you're not really making it. Not in today's world.

The good news if you're an independent insurance agent, only you can fire yourself.

The economy may suck and people may be out of work but there is still one aspect of the population who still need and will continue to buy insurance. They "know and believe" that they need additional insurance and will spend the money to get it.

In the last sixteen years I have never seen a time, regardless of what the economy is like, that people who are on Medicare weren't looking for something to supplement their Medicare coverage. They all are convinced that just Medicare isn't adequate coverage.

In reality, just having Medicare is probably better insurance than a lot of them had before they turned 65. However, they are "on a fixed income" now and they believe that they need to have everything paid for.

Prospecting for and selling supplemental insurance to seniors is probably the easiest kind of insurance to sell. It isn't rocket science, can be learned in a very short time and, unlike life, health and LTCi, an agent doesn't first have to convince the prospect that they need it.

All the agent has to do is convince the prospect that what he/she has to offer is better than what other agents have offered. Selling insurance to seniors is all about the agent selling himself as much or more than selling the policy.

 

[somarco]

All the agent has to do is convince the prospect that what he/she has to offer is better than what other agents have offered.

A bit of a twist on that is . . .

Help the prospect understand what they have, and what they CAN have that is better. Give them enough information so they will arrive at the conclusion that what you have is better than what they have now and they will convince themselves it is time to change.

Gitomer says folks hate to be sold but love to buy.

When you can present your offer in such a way that they believe the decision they made is their own you will have a much easier sale and a better client base over the long haul.

 

[Frank Stastny]

A bit of a twist on that is . . .

Help the prospect understand what they have, and what they CAN have that is better. Give them enough information so they will arrive at the conclusion that what you have is better than what they have now and they will convince themselves it is time to change.

Gitomer says folks hate to be sold but love to buy.

When you can present your offer in such a way that they believe the decision they made is their own you will have a much easier sale and a better client base over the long haul.

Well said, I guess I should have been more clear.

I really don't "sell" insurance. I present the prospect with factual information about Medicare, the changes that have taken place since 1993 and how those changes have effected the supplemental options that are available to them. I give them logical reasons why one option may be better for them than other ones and show them what I believe is the best one for them to consider.

I have found that educating the prospect is a much better and more successful approach than trying to sell them a policy. The most common statement I get from them is "No one has ever explained it to me before".

I do not do "trial closes" nor do I say things like "Now Mrs. Smith, wouldn't you like to have a policy like that?". I never really even come out and ask for the sale. I simply say at the end of our discussion (more of a conversation than a "presentation") "I just need to see your Medicare card to get this started".

I never ask them which of the options they want or sounds better to them. Our entire discussion leads them to only one logical conclusion. In Missouri Medicare Supplement policy Plan D is the best one for them.

If they want a PFFS plan then I suggest that they contact another agent.

 

[somarco]

I have found that educating the prospect is a much better and more successful approach than trying to sell them a policy. The most common statement I get from them is "No one has ever explained it to me before".

A good salesman is a good educator. Sym's clothing used to (and maybe still does) advertise that "an educated consumer is our best customer".

I believe that.

And, like you, I get a lot of folks who say the same thing. Had a lady a few weeks ago concerned about the renewal. Her husband said the ($5k) deductible was too high and wanted it lower, possibly $2k or so.

Unlike most of my clients, she has a copay plan. They never used it, not even for annual exams. Her husband (as well as herself) thought they had to meet the $5k before they could go to the doctor.

I spent 30 minutes on the phone, re-explaining her plan and going over alternatives. She said she thought she understood it last year but must have forgotten. This time she knows what to tell her husband and they are renewing as is.

I don't do trial closes or any of the other stuff they teach you in training classes. Never did really. Just seemed to hokey to me.

If you do your job they will ask you when they are ready to buy.

 

[Russ]

The economy may suck and people may be out of work but there is still one aspect of the population who still need and will continue to buy insurance. They "know and believe" that they need additional insurance and will spend the money to get it.

In the last sixteen years I have never seen a time, regardless of what the economy is like, that people who are on Medicare weren't looking for something to supplement their Medicare coverage. They all are convinced that just Medicare isn't adequate coverage.

In reality, just having Medicare is probably better insurance than a lot of them had before they turned 65. However, they are "on a fixed income" now and they believe that they need to have everything paid for.

Prospecting for and selling supplemental insurance to seniors is probably the easiest kind of insurance to sell. It isn't rocket science, can be learned in a very short time and, unlike life, health and LTCi, an agent doesn't first have to convince the prospect that they need it.

All the agent has to do is convince the prospect that what he/she has to offer is better than what other agents have offered. Selling insurance to seniors is all about the agent selling himself as much or more than selling the policy.

And I know of quite a few that don't have med-supps. Yes...most do and that is a good market that I work too and make a few grand a month in renewals + sales.

My point was more about younger folks....losing jobs. That may be part of the poster of this threads problem...that and the economy.

 

[Mark]

Al, Mark and Bob's posts are outstanding! Just to mention a few.

Thank you!


I think this forum has a wealth of information.
A lot of new agents have no where to turn to for help. It is nice to hava a forum where you can ask questions and get help.

I've learned a lot from this forum myself. You can never know everything.

 

[Frank Stastny]

And I know of quite a few that don't have med-supps. Yes...most do and that is a good market that I work too and make a few grand a month in renewals + sales.

My point was more about younger folks....losing jobs. That may be part of the poster of this threads problem...that and the economy.

You are right. I was just letting him know that there is a segment of the population that really isn't as affected by what the economy is doing. They are already "out of a job" and most have been for some time.

I find your comment about "quite a few" that don't have either Med Supps interesting. It is extremely rare that I come in contact with an individual who only has Medicare. The very few that I have talked to are usually people with a lot of money who can easily cover the parts not covered by Medicare.

You know, the really cheap, well to do people who constantly bitch about "being on a fixed income".