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Editorials for Life Insurance

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

Is your IMO acting ethically?

Is your IMO acting ethically?

The first thing we think about when we hear the term “ethics” is our interaction with our clients. After all ethics is part of the CE credits we need every two years to keep our license in force, so we can continue providing our services and make a living.

So why then does ethics go out the window when some IMO’s conduct the business of their agencies?

Don’t get me wrong there are IMO’s that do act ethically in their day-to-day business. Unfortunately, it isn’t the IMO’s that promote recruiting as the first order of business.

How to use UL/IUL in Mortgage Protection

How to use UL/IUL in Mortgage Protection

Universal Life and Indexed Universal Life insurance can be designed as a flexible, low premium insurance policy that offers the option to provide permanent death benefits and cash value growth potential for the Mortgage Protection market.

These can be designed primarily for the mortgage protection market, UL/IUL can provide at least 20 years of coverage by paying the minimum premium, based on current illustration assumptions. It can also serve as an alternative to term products and has applications for the personal and business markets where there is a need for a fixed or indexed universal life product.

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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