Would Like To Start LTCi Sales in TX
- Thread starter grod
- Start date
- 657
It is extremly difficult for a med sup person to become a LTCI person. Two totally different types of sales. Medd sup is logical. LTCI is very emotional. As a matter of fact. After 11 years of LTCI sales, I have not yet met a medd supp person that could sell LTCI successfully. I have hired and tried to train many of them. But hey, that is just one guys experience. Good luck, and let us know how it works out.
- Thread starter
- #3
Perhaps you should have someone re-evaluate your training program, or your agent selection process. I agree they are different processes, but we're not talking about rocket science. A good work ethic on the part of the agent goes along way.
- 657
Like I said, just my experience. I have sold a lot of LTCI, but no Med supp, so maybe it's just a mental block on my part. To me selling med supp is like selling milk or something. LTCI is a very difficult product to master. I just have not seen a med sup person get it to work, that's all I'm saying. I haven't gotten med supp to work for me, but I haven't really tried either.
I have people buy health, life, dental, med sups, and MAPD from me all the time. I have to sell LTC and disability...so, I agree it is a different process from a sales perspective.
Cross selling is a nice thing to do in this economy.
Cross selling is a nice thing to do in this economy.
Arthur Rudnick
Guru
- 1,652
"I have people buy health, life, dental, med sups, and MAPD from me all the time. I have to sell LTC and disability...so, I agree it is a different process from a sales perspective."
Herman,
I hear what you're saying and on the surface, you're correct. LTCi sales is unlike any other product available.
But I've never believed that this product is something to "sell".
I've been in sales all my life and early on, I was taught the golden rule of sales (which applies to any product) and that is:
Selling doesn't start until the customer says "No".
When I started in this business (mid-90s) I remember very often walking into homes and seeing a check book sitting there in front of me on the kitchen table. There was no question that these folks were going to buy a policy. Their mind was made up before I even walked in the door. All I had to do was say: "here's the benefits you should be buying and I need a check for $3,000, thank you & good bye."
Is that selling? Don't think so. A trained monkey could have taken an app & check.
But, in this business, if someone looks at the product and then says "no", in most cases, it's over! Once someone has made up their mind against the purchase of a poicy, all the selling in the world rarely gets them to reconsider.
You can't "sell" this stuff. Either there's a desire for someone to purchase it or it won't be sold.
The key in this business is not how good a salesperson someone is, it's getting in front of prospects who either have an upfront desire to buy (because mom and/or dad was in a nursing home) or is willing to look at the product with an open mind, without any preconceived notions.
That's what separates the successful agents from the unsuccessful ones and for most of us, THAT'S the hardest part of what we do.
And, that's why most agents who enter the LTCi business with prior sales experience, think that selling this stuff is a piece of cake. "I was great selling cars, I was successful selling real estate, I can sell ice to an Eskimo, etc., etc.
Those "sales experts" are usually the first to look for another career.
So yes, we're in "insurance sales", however it's not what it appears to be.
Just my 2 cents.......
Herman,
I hear what you're saying and on the surface, you're correct. LTCi sales is unlike any other product available.
But I've never believed that this product is something to "sell".
I've been in sales all my life and early on, I was taught the golden rule of sales (which applies to any product) and that is:
Selling doesn't start until the customer says "No".
When I started in this business (mid-90s) I remember very often walking into homes and seeing a check book sitting there in front of me on the kitchen table. There was no question that these folks were going to buy a policy. Their mind was made up before I even walked in the door. All I had to do was say: "here's the benefits you should be buying and I need a check for $3,000, thank you & good bye."
Is that selling? Don't think so. A trained monkey could have taken an app & check.
But, in this business, if someone looks at the product and then says "no", in most cases, it's over! Once someone has made up their mind against the purchase of a poicy, all the selling in the world rarely gets them to reconsider.
You can't "sell" this stuff. Either there's a desire for someone to purchase it or it won't be sold.
The key in this business is not how good a salesperson someone is, it's getting in front of prospects who either have an upfront desire to buy (because mom and/or dad was in a nursing home) or is willing to look at the product with an open mind, without any preconceived notions.
That's what separates the successful agents from the unsuccessful ones and for most of us, THAT'S the hardest part of what we do.
And, that's why most agents who enter the LTCi business with prior sales experience, think that selling this stuff is a piece of cake. "I was great selling cars, I was successful selling real estate, I can sell ice to an Eskimo, etc., etc.
Those "sales experts" are usually the first to look for another career.
So yes, we're in "insurance sales", however it's not what it appears to be.
Just my 2 cents.......
- 657
grod,
Being a successful LTCI expert is a lot like rocket science I think.
There's not a lot of rocket scientist's in this world either.
Did you place over $150,000 LTCI last year?
Being a successful LTCI expert is a lot like rocket science I think.
There's not a lot of rocket scientist's in this world either.
Did you place over $150,000 LTCI last year?
- 2,584
A good "work ethic" will not help you in LTC sales IMO. It is very unforgiving and does not care one bit how hard you work. I have "worked hard" with nothing to show for it at times.
At times I have "worked smart" and sometimes just plain lucky and have gotten the results.
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- 657
CALTCAgent,
I agree. It's almost like rocket science isn't it?
I agree. It's almost like rocket science isn't it?
- 2,584
Now that I think about it, yes it is!CALTCAgent,
I agree. It's almost like rocket science isn't it?
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