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Editorials for Life Insurance

Mortgage protection Leads

Effective Life Insurance Leads During Covid

We all know that 2020 was a difficult year for our business. If you sold life insurance over the phone then you were less impacted. Those of us who sell face-to-face struggled. In listening to agents some are wanting to wait until Covid is completely behind us.

For those of you who are fulltime life insurance producers depending on that income to provide for your family, then that decision will be devastating. It will be the middle of summer at best before life returns to something resembling normal. It will take a couple of years for the economy to come back to pre-pandemic levels.

How to present successfully

How to present successfully

The times are a changing. If you don’t change with it your ability to connect with prospects in a meaningful way will suffer. Know your market; be up-to-date on current events that are impacting your potential clients.

If you are working mortgage protection; how was the area you are working affected from the housing debacle of 2008? A basic fear is losing what they have spent time building up again. Should they suffer an unplanned event (either passing away prematurely or a catastrophic illness) how will their surviving families keep their home?

The Magic Bullet to Success

The Magic Bullet to Success

THe Magic bullet to Success

We’re all back to the grind looking to overcome the last year and put those 12 months in the review mirror where it belongs. I have fielded a greater number of calls from agents looking for life insurance leads regardless of their IMO dissatisfied with what they may or may not offer.

Most everyone gravitates to the least expensive leads asking if they’re exclusive and fresh. I use this when I meet with clients:

“We have three components to our service. Our service can be cheap, it can be fast, and it can be good but, you can have only two out the of three. If you want it to be cheap and fast you can’t expect it to be good. If you want it to be cheap and good, you can’t expect it to be fast and if you want it to be fast and good, you can’t expect it to be cheap.”

A similar analogy can be applied to leads. Fast and cheap does not always equal good. Fast and good does not equal cheap. I would equate most digital leads in the fast and cheap category. There not always good, its why you need a lot of them to succeed. The power is in the numbers.

If you want leads to be good quality and fast, they are not cheap. Direct mail is neither fast nor cheap, but the quality can’t be beat. Regardless of where you fall in this analogy, you need capital to fund your lead campaigns.

So, what’s the Magic Bullet to Success: Consistency/reoccurring and Capital. If we are looking at what we do as a business, then there is some risk. That risk is capital which at the beginning generally comes from a charge card or savings account.

If you decide to risk some capital and by a one-time lead order of, let’s say 10 Mortgage Protection Life leads you aren’t likely to succeed. You need to be consistent/reoccurring and risk four week’s worth of 10 leads a week. If you work Final Expense, expect that number to double to at least 20 leads a week. If you work phone sales, then double that number again.

Why do I say this, because not every lead campaign will be the same. Some will be great where you’ll close 5 out 7 leads one week and the next 1 out 7. But, with consistency come balance; the unpleasant weeks will be overcome by the good and at the end of the month you’ll have done $8000 to $10,000 in sales.

The adage of “with risk comes gain” is very true. If you’re not willing to risk some capital, then your career is over before it got started. A career as a life insurance agent can be very rewarding. What you hear about unlimited income potential and setting your hours is all true. It’s great to attend your kids’ functions. However, it takes commitment and it’s not cheap nor fast.

It’s been said: Life begins at the end of your comfort zone.

© Copyright  Legacy Secure on MI Inc

How to Increase Your Monthly Premiums

How to Increase Your Monthly Premiums

You’ve heard me say “we’ve all fallen victim to instant everything.” With all the ups and downs across the country of COVID-19 has only exacerbated this situation as more people are home spending more time online.

The lack of sales in our personal life insurance business has made most of desperate to make a sale. We want to complete a sale using the shortest possible path in the shortest amount of time so we can move on to the next sale. In life insurance that path starts with making appointments, moving on to giving presentations, field underwriting, writing up applications, and closing.

On the surface this seems fine after all our time is money, right?

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Bloomfield Hills, MI 48304
 

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