The Unbelievable! How To Sell Life Insurance Policy
In this lesson, we’re going to go over how to sell life insurance policy and it doesn’t matter. If you want to sell term life, insurance, final expense, insurance, whole life, insurance or universal life, insurance dude, it’s all good. We’ll, be covering some extremely pertinent information for anyone with a life insurance license. Look guys. Most people think that insurance sales is something that it’s not, and here’s another thing: what used to work years ago, isn’t exactly applicable these days.
If you want to be successful today, oh yeah bubba, you’ll, see exactly what i’m talking about and guys. If you’ll, stick around until the end of this lesson, i’m, going to show you how to get a copy of the new agent file.
That is perfect for anybody that decides to target the market that made final expense trainer. A youtube must-watch channel: yes, that’s right, the final expense sales industry. With that being said, don’t.
You move a muscle, I’m Doug Massi and thanks for checking out our youtube channel final expense trainer. So before we get started, i do want to say that our lessons and videos are all about selling life insurance products and other products in the senior market, including medicare advantage and medicare supplements.
So with that being said, if you’re newly licensed or you’re thinking about getting licensed to sell, how does you want to know how to sell life insurance products? You’re, going to either start as a captive agent or a independent agent, and to start please give this video a thumbs.
Up that way, youtube will keep sharing our content with new viewers and subscribe with the notifications turned on ding. The little bell want to ring that thing that way you’ll, be notified whenever we do put out a new video now with being captive versus independent.
The problem is there’s, a lot, a lot of like semi captive shops? They tell you, you’re independent, but you’re really captive and what happens is like one way to know that is they won’t release you and like the commission levels are going to start for the first year.
Commission levels are going to be like 100 percent or less look there’s, nothing wrong with starting with a company like primerica or new york life. Just remember when you sell an insurance product through them, your commission’s, going to be about 25 of what it should be or less uh.
30. First year, commission on a life insurance product that’s like like term life or ul. A whole life is ridiculous. You’re, getting crushed so as a captive agent. There are a lot of pros and cons and i will say i started out as captive and now i’m completely independent, our agency.
What we do at our agency is, we teach independent insurance agents how to do the process and we start our commissions, basically 110 or higher for new agents that are willing to commit to leads. So you know just keep that in mind because you’re going to need leads in order to sell insurance.
So if you’re going to commit to leads with, you know some multi-level marketing company and get paid 60 first commission, you might as well consider working with a legitimate company like ours. However, i did start as a captive agent and it was the best thing i could have done my first year.
Commission was 60 at one point i learned so much and we’ll. Get into that. At one point i actually asked my boss. After being there for a couple years, if i could get an extra five points and his answer was – and this is the old school mentality, if you’re – not happy here, you can go.
Meanwhile, i’m, his top guy, so whatever that’s, the mentality things used to be in this business, but what i learned was super priceless. Their system is why i was a top producer why i was their number one producer out of the two insurance agencies they have.
They taught me work ethic. I had to be in the office basically five days a week to make phone calls for a couple of hours and they would have meetings and we would talk about like. I would talk with the manager about the sale that i made the night before and we would go over it.
So you’re learning as you’re selling, and you’re learning from your mistakes and stuff that to me is awesome. That is why you want to be captive. If you’re going to be captive and you’re going to give up a bunch of commission, the other thing that they had was a fixed cost lead program.
So i knew that i was going to be able to have and back then, when i was at hartford age, i was going to have my 10 direct mail aids that were brand new every single week, and i love that nowadays you can be with a legitimate Agency like ours and still get the much better commissions, the better training and access to those same fixed cost leads and we never resell our leads and that’s.
The problem with most captive companies. So if you’re, going to be a captive agent, you’re, most likely. The first leads they’re, going to give you at least until you know what you’re. Doing a little bit are going to be leads that someone else already worked and in most cases you’ll actually have to pay for those leads.
Imagine having to buy leads that other agents had that they couldn’t, sell and my phone night then i had to be. We called it an office evening monday was full and my phone night was sunday, so i had to come in from like four until nine o’clock on sundays, didn’t matter.
If the miami dolphins were playing or not, i had to be in that office on the phone setting appointments that was part of the process. That taught me how to get really good on the phone and taught me work ethic too, and it’s.
Funny because even when i was able to switch to monday, i realized that sunday was the best phone day, and so for those of you calling your leads to me. The two best days to call to set appointments are saturdays mainly in the morning, so maybe between ten and two those four hours you can get more out of working, i should say calling six hours on a regular day, um but sunday evening, sunday evening.
People answer the phone: no one’s, trying to sell people stuff on sunday, so they will most likely think who could this be and actually answer the phone? So there’s, your pro tip for the day call on sundays and if you think what i’m saying is nonsense.
Please leave a comment. I love to hear from you guys i don’t care. If you agree with what i’m saying or disagree, please share something love it ask me a question got a suggestion for a video in the comments below when we first started doing mortgage protection.
I should say i was doing it before my wife got licensed one of the things that was crazy about your typical mortgage protection. Life insurance sale is that i would drive an hour for one appointment and that would be normal, sometimes even further, even a little bit hour and 20 hours 30 minutes, and if there was traffic you were, you were stuck.
It happened in miami. There were times where i’d, be in traffic for like two hours, go to one appointment and then come back home. One of the things i love about final expense sales is that when you have a lot of leads, you’re spending less time in the appointments than a regular mortgage protections.
If you’re, you’re. Doing a good presentation selling your typical life insurance mortgage protection product, you’re in the house with the client for like 45 minutes before you give the price, if you’re, doing a really good job explaining the product.
Actually, what i was selling for the hartford was a universal life, so the presentation i got to talk about, you know how the pricing worked and how the different options were available and how cash value worked with the universal life pro uh product and also like the Interest rates, the guaranteed interest rate versus the non-guaranteed interest rate.
So for me, that was a great product for me to start with, the presentation was long. So by the time we got to final expense and we started calling to set our appointments. I learned that’s, not how you do it.
If you’re going to one area that’s an hour away, i would have either multiple appointments set, or at least a lot of leads. I’m, not going to drive one hour to one appointment and you shouldn’t either.
Unless you’re selling, a life insurance product, like mortgage protection, where you just don’t, have the leads and the appointments and a big difference to me between selling mortgage protection and selling final expenses.
That with mortgage protection, you really can’t i mean you can. If you really want you, can door knock leads, but it’s, so much harder with final expense. If you’re working easier rural areas like the ones that we have always traveled through throughout florida, you’re, going to be able to door knock your leads and get inside real easy compared to mortgage protection.
So the bottom line is more leads and if you’re doing final expense, more pre, you’re, going to get in more doors, more presentations and more sales than you will with mortgage protection, and there are downfalls or negatives and pros About both one of the other thing is like mortgage protection.
It’s hard. You’re selling to professionals. So if you’re, a real classy type of guy or gal, it’s, going to be easier for you, especially if you’re, a professional sales person, it’s, going to be easier for you to Sell mortgage protection, if you have the leads, like i said i i couldn’t even get the leads at the end.
The leads were gone so, but even if you’re working, other type of leads and you’re figuring out ways to do it. You’re selling to these people that are kind of picky and they think they know it all think about you’re selling to doctors; they think they’re god, so final expense, the opposite.
The senior market is the easiest people in the world to sell. To the second thing i love about the final expense. Is that once you have these clients now, if you decide later that you want to do, i don’t know medicare advantage sales.
You’ve already got clients that you can legally compliantly, go back to and sell now the negative on the final expense side is the placement and the persistence is not going to be as good as your typical life insurance sale.
But look when you’re running a lot of leads, which you can get a lot of leads for final expense. You’re, going to make more sales anyways and there’s renewals on most of the term in ul products. There’s like super little renewal.
If any at all direct mail is king, no matter what you’re selling, but there’s more than one way to skin a cat right. You can run your own ads on facebook. There is nothing wrong with purchasing a program.
You can get a program for maybe around a thousand dollars that basically will teach you everything you need to be able to create your own insurance ads. There’s, a bunch of companies that do it, so maybe that would be something to look into if you’re real smart, otherwise you can purchase a lot of these facebook leads or or even google type of internet leads.
If you’re buying a five dollar insurance lead, you’re buying a piece of garbage. If you’re spending, five bucks on a lead, you are buying a lead, especially if it’s, anything internet or computer related that is being sold to everybody else.
So don’t waste. Your time i don’t even consider elite to me. You’re better off in the phone book, just dialing through numbers. Oh, we don’t, have phone books anymore. Ah now you know how old i am so, but you’re, probably better off doing that than working these cheap garbage internet leads and if you’re thinking.
Well, maybe i can do my own mail drops for regular life insurance for mortgage protection, that’s, going to be tough too. I’m telling you the returns are really really bad. You can easily spend five six hundred dollars on a mail drop targeting your specific people only to get back a few leads you don’t want to do that.
That’s, one of the reasons that we love final expense. It’s just too easy to generate the leads to get the leads compared to the other industry. Now. Is it super easy not for someone that doesn’t know what they’re doing that’s new? That thinks they’re, going to figure it all out and recreate the wheel.
You’re. You’re already on your way out of the business. If that’s, your thinking, but we already have platforms that work all insurance agencies do. So i really suggest if you want to know how to sell life insurance products, do what you’re uploaing.
What your agency is teaching you do. What other people that are successful are doing exactly whether you’re independent or you’re captive. It doesn’t matter. Follow the leaders with general life insurance sales, a lot of agents they don’t have money, they’re, not sure, maybe not real good at sales.
A lot of the uh, especially the multi-level marketing companies and the companies like new york life and like primerica, are going to tell you to go, sell your friends and family to me, depending on your personality.
Maybe there’s, nothing wrong with that. I never did that me trying to sell my family member. Something like this has always been kind of weird. I would bring it to their attention. Let them know that i have the products, but the last thing that i’m gonna be is that guy at the barbecue that everybody avoids you don’t have money for leads your new pnc agencies.
A lot of them will allow you to come into their office to call their clients and make sure their clients are okay with what they have and or the clients that don’t have the insurance with them anymore, recall them, and basically let them Know hey i work for joe’s.
Pnc i’m, just calling to make sure everything is okay. You have any question about your homeowners. If you do, you can always call us. I’m there, oh, and by the way we have a new program that’s, designed to cover your mortgage and pay for your mortgage in the event that you or your wife die.
I’ll. Tell you what why don’t, i come out it’ll. Take me 20 minutes to go over this with you. I’ve got an opening tomorrow between 9 00 and 9 30.. How’s that with you? Okay, if they’re, getting the pnc agency is getting some benefit out of this.
Then they will allow you to do it, and this is pretty much a book of business that you have to work with right from day, one which, in the event where, if you go captive, a lot of these captive shops are going to give you customers like That to call a lot of them won’t even have leads.
They’ll, be like yeah. We got leads here’s, a book of business. These are our clients, give them a call, go sell them more. Insurance get creative, i met a gal, so we did a training with a group of insurance agents just a couple weeks ago, and i met this gal and what she did was phenomenal.
She said: hey guys she was from thailand. She says i know of a really good thai restaurant. We went to the thai russ, there was a big group of insurance agents, there hanging out eating enjoying it, and i noticed she really socialized with them a lot and she helped all of us with our orders.
I know thai food, so didn’t need to help me but anyways awesome gal. What i realized she was doing was bringing business to this company this place. She had never been to okay and then going back and selling them universal life.
Insurance get creative if you’re thinking about selling over the phone. It is the hardest thing in the world when you’re new, unless you are a super, talented telesales person and you find a company with a system and that’s, really the way to sell over the phone.
Don’t try to figure it out on your own. It’s, going to be hard. If you think you’re, going to call like a list of names and sell over the phone, you’re, wasting your time and everybody else’s, find an insurance agency with the products that you want to sell over.
The phone and sell them over the phone face-to-face kind of the same thing when you’re new, you’re, going to need help. You’re, going to need guidance. It’s up to you figure to figure out what’s best for you and how you’re, going to sell guys.
Hopefully, you got something out of this for a copy of the free new agent file. I mentioned earlier email me at doug ufesonline.com for information on joining our sales team and selling insurance products through us.
As an independent agent, full renewals full commission levels, the whole nine yards killer leads. You can just email me at that same address. Remember when you put the needs of your clients. First, everything else will usually fall right into place. Hope you learn something from this How To Sell Life Insurance Policy lesson.
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