I love it when I hear old insurance vets telling a new agent "you can't sell anything over the phone" don't fall for that trick our society only buys in person, they don't trust you to buy something over the phone. While grabbing some coffee today I overheard this conversation and couldn't help but shake my head and laugh on the way out.
"You Can't Sell Anything Over the Phone"
- Thread starter magagent
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Also, depends on how you to define "best". If you drive an hour for an appointment, and get "porched" you must factor in lost time, wear and tear on a car and gasoline. Selling over the phone, you don't have those issues. The post wasn't debating "persistency", it was debating that one size doesn't fit all. Obviously some products can't be sold over the phone, but most can.
I sell virtually everything over the phone (with the exception of investment clients) and I'll put my persistency up against anyone. With the exception of death, my persistency is 99.99%. That's Life, under 65 health, Med Supps and some MAPD business all done over the phone.
I'm not saying there's anything wrong with F2F. Just dispelling the myth that persistency on selling over the phone is lower than F2F.
There is more than one way to skin a cat but some rip off more meat than others!.!
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You are claimimg that when you combine those fourn lines that only one out of a thousand does not pay the 13th montn? In 42 years I have never met an agent that actually produced business maintain that persistency.
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Many lines can be sold successfully and are sold successfully over the phone.
Some lines do not lend to phone sales.
Some lines do not lend to phone sales.
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My persistency isn't 99% but it also isn't anywhere near as bad as what I was told it would be when selling on a virtual platform. I have sold simplified life, full underwritten term and universal life and all lines of health (major med, indemnity, med sup, med advantage, ltc) even an annuity over the phone. If you enjoy selling face to face then by all means continue it. My purpose of this thread was to show that just because you don't have the permission, capabilities, or skill set to sell over the phone dont' tell a new agent that it can't be done though! Yes, some people will say " I don't buy anything over the phone", they will also give you one excuse after another once you eliminate that objection.
Funny thing is, ive sold products virtually for the company that was telling an agent "that you cant sell over the phone".
Funny thing is, ive sold products virtually for the company that was telling an agent "that you cant sell over the phone".
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That's what I'm saying. I used to be a life only guy, however I don't write much life anymore. Maybe $10,000 per year in premium. And I can say with 100% certainty that in the last decade, I haven't had a single life case not pay at least 13 months. The difference now is that I'm not marketing for life so those clients are lay downs. They call me wanting life insurance. It's usually an existing client or referral. All my Med Supp and MA business is referral as well. In 8 years of selling this line, I have lost 2 clients to another agent, but both were over one year old. The only area that I may have a client not last the full 12 months is under 65 health. But that's usually because they've gotten a job and group insurance.
I have no reason to not be truthful here. It doesn't impact anyone here. So people can believe or not believe. Makes no difference to me. I started in this business in 1989 as a captive. So I understand how some may not believe my persistency numbers. When I was captive it wasn't as high, but still decent. Mainly because anyone who's ever been captive understands Friday morning board call and you didn't want to be blank so you'd write something you knew wouldn't stay on the books. I don't have a Friday morning board call anymore and I don't write bad business.
You have to understand, everything I write, and I mean everything, is a referral. And not the kind where I call them. They call me. I'm almost a glorified order taker at this point. So yes, my persistency is virtually 100%.
Bob.. You are talking about totally diferent business model than the agent that goes out or calls soliciting business or the agent who is running DM replies or cold calling. I can accept that a person selectively writing referral business would have outstanding persistency. I did question Magagent's claim (which he admits is nor accurate) simply because he incuded Under 65 health. Was actively invovled in that market 30 years ago and basedon my ageny'sexperience, I find it haard to belive that a person actively soliciting that line would ahve 99.9% persistency.
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You know it takes all types and all ways to sell insurance of any kind. IF there was one sure fired way for 100% success wouldn't somebody be doing it right now along with everybody else?
(if you've been in this business long enough you know that answer. This is a sure fire method, but agents can't stick with it because it works so well, they have to try something else.)
(if you've been in this business long enough you know that answer. This is a sure fire method, but agents can't stick with it because it works so well, they have to try something else.)
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