Insurance Leads – Discover a Simple Solution That Will Destroy Your Competition

It's simple. It is a basic step to beating your competition. That is why I can not understand why so many agents forget to do this. Even the smartest most diligent agents miss this one. I mean they invest the time and effort needed to carefully select which insurance products they will offer or which…

It's simple. It is a basic step to beating your competition. That is why I can not understand why so many agents forget to do this. Even the smartest most diligent agents miss this one. I mean they invest the time and effort needed to carefully select which insurance products they will offer or which carrier they will work with. They develop a plan and schedule their time, but they forget this step.

Pressing forward they are beginning searching for clients. Friends and family will only take them so far, so they try networking. After passing out hundreds of cards and invest hours upon hours of time, they find that most people are not ready or not interested. The process is slow and painful.

Looking for a better way, they begin to try different marketing tactics . The yellow pages bring little return. Cold calling makes life miserable. Plus there is a ton of regulation to consider. Direct mail is expensive and the internet … well the internet is complicated. Websites, social media sites, landing pages, SEO, SEM, the list goes on and on. An agent can easily get tangled in that web and forget about selling. Rather than trying to conquer the Internet or hire expensive experts, they find companies that offer insurance leads, but quickly become frustrated. Maybe this has happened to you.

Real time internet insurance leads looks like a solution. After all, these are real prospects that are searching online for insurance quotes. They are matched to your criteria, so they are in your target market. You get them in real time, so you know the lead is hot, and with realistic expectations you see that insurance leads offer a good return on investment. Sounds like the perfect solution, but …

Here's the problem. Even though you set realistic goals, call every lead right away, offer great policies and are a good sales person, you find you are still not closing enough deals. Competition makes getting the sale difficult. Frustrated you decide that internet leads do not work. Well it could be you have a bad source for leads, but let's look at another reason why this can happen.

It is possible that you missed that first little step. What is it? It is a basic building block. You will know if you have it in place if you can answer one simple question. Ask yourself, “Why should a prospect choose to get a policy with me over anyone else?”

Finding the answer to that question is a game changer. This is what is known as your unique selling proposition (USP). For some insurance professionals their USP is price, others choose expertise, service, or convenience. Whatever USP you decide to choose, get very clear on exactly what that means. All your processes, communications and sales efforts need to be focused around that USP. By delivering on your USP, you will become outstanding.

Every prospect should immediately see the difference. You will stand out from the masses of agents who compete on price alone because they are perceived by the prospect as average.

Our agency has doubled our sales every month since we first opened in December …. all of our new business is Internet generated “Michael Schrader, Schrader Insurance Agency, Redding, CA (Mr. Schrader stated he gets 90% of his leads from the source I recommend.)

Real time internet insurance leads will deliver as many prospects as you can handle and with your USP in selling will be easier and more enjoyable. The bottom line is you will sell more policies, get more referrals and make more money.

How the Life Insurance Sales Lead Can Grow Your Business

The Internet is the best source for finding life insurance sale leads. There are more than enough choices of where to buy them. The leads, are the consumers who are looking for affordable life insurance that will work with their budget, so they can make their payments. People want to be covered for life but…

The Internet is the best source for finding life insurance sale leads. There are more than enough choices of where to buy them. The leads, are the consumers who are looking for affordable life insurance that will work with their budget, so they can make their payments. People want to be covered for life but they worry about the cost.

The states do not demand that we carry coverage for life and this allows people to put it off and wait for a better day to think about it. When you buy a list of leads you will not be getting these consumers on your list. You will talk to those who are concerned, and seeking a quote to make a decision.

A lead generation company has to do a lot of advertising and then they collect the data to form the demographics of the interested caller. The list should be fresh and no more than a day old. When a person ask for information that they thought they would get from the call they are ready for answers. Waiting very long to call them will cause their interest to drop or they call a different agent.

When you purchase a list you should have the information necessary to prepare for the call. You do not want to sell a policy for a large family to a single person, so offer them only what is appropriate for their income. Trying to hard to sale to those who want to buy will kill the sale. Talk to the person as one who understands they need a plan that fits their lifestyle. They will trust you because you are sensitive to their needs as you being the agent should.

Some of the best leads are still the word of mouth leads. These consumers already have a degree of trust with your product; because their friend is happy with it. Create trust with your customers since this will send you more customers and get sales. The good ole sale spill has hit the floor and can be seen coming. Try the tactics of honesty and up-front information since there is not anything to hide.

When you are looking to increase, your sales simple try a reputable company that sells leads. The list must be fresh in order to catch the consumer while their interest level is still high. The longer they wait to hear from an agent the less interested they become. When a consumer is ready to purchase Life insurance, they will find an agent willing to help them instead of waiting over 24 hours. Those that want to buy the same day will.

When you are skilled, at closing sales, you can hire someone to help with calls; and you finish the call; closing the sale. Some companies offer this service too. They will transfer the call to your phone after they have confirmed the consumer's interest.

You can understand why I say finding a life insurance sales lead is easy. This really comes down to your motivation since the consumer is waiting for an agent to call them, even while you read this article. You have available the source of leads and if you have the expertise to sale your product. Use all these attributes and you should watch your sales grow significantly. Try an insurance lead provider that has experience and the newest technology to get the volume of quality leads you need and start growing today.

Stop the Bleeding – How to Keep Your Current Clients Even When Their Premiums Go Up

Many agents dread the anniversary date of their client's insurance policy. They're quit to the potential loss of that client to another agent or broker. But top producers know that it does not have to be that way. Whether you're courting current customers or giving old prospects another twirl, renew time can offer a golden…

Many agents dread the anniversary date of their client's insurance policy. They're quit to the potential loss of that client to another agent or broker.

But top producers know that it does not have to be that way.

Whether you're courting current customers or giving old prospects another twirl, renew time can offer a golden opportunity for additional revenue. A conversation orchestrated with finesse – and good timing – can result in renewable dates that deliver new insurance leads and sales.

Your Best Access to New Customers Are the Ones You Already Have

An upcoming renewal date provides the perfect window to get your current customers on the phone. And if handled well, this can open into a discussion of other products – or even referrals, the best kind of insurance leads.

Of course, the key to approaching either of these subjects is customer service.

You do not want to give your call the telemarketing kiss of death. You also do not want to endanger your good standing with your customer and, in a worst case scenario, annoy them into choosing a different agent. However, with some judicious words, you can actually score points by making your client feel taken care of. Try something like this:

“Hi Carol, this is Jason of BBG Insurance. Your policy's renewal date is coming up. I'm calling to give you an insurance check-up to see how your current plan stacks up in today's market.”

First, this call shows that you have initiative. Second, you put your commitment to service front and center.

Before giving them a chance to move elsewhere, you can answer any questions or problems they may have. Even if they do not have any issues or problems with their current plan, they may give you an opening to bring up other products – or ask for a referral.

If you know for a fact that their promotions have gone up, offer to help them compare other plans. This may mean switching them to a different plan or carrier. The best way to do this is with a multi-carrier insurance quote engine that lets you and your clients compare different plans side by side.

You can also use the end of the conversation as a last opportunity to make sure all their needs are met by asking if they have questions about other services. Alternately, you can use the occasion to let them know that you are available to them as a complete insurance resource. Something like this achieves a good balance between direction and grace:

“Okay, great! I'm so pleased to hear that. Now, keep in mind that if you have any other insurance needs such as life insurance or car insurance, I'd be happy to help you there, too. And of course that goes for anyone you know as well. It is my goal to be as valuable an insurance resource to you as possible. “

Old Prospects: Strike When the Iron's Renewal Date Is Up

Just because a prospect did not sign up for a policy with you a year ago does not mean they will not this year.

They may be unhappy with the policy they chose – or the agent they worked with. Even if they are satisfied with their previous policy or agent, there's a good chance that they've received a notice of a premium increase.

Whatever the reason, their renewal time is your chance to convince them to make a switch. Ah, but how do you make sure they switch to you?

The quick answer is to be the one who gives them options and keeps your offers on their mind at all times.

While this might sound like a magical deed for many agents, it's as easy as clicking a mouse for any agent with email autoresponders. An email autoresponder is a lead nurturing tool that allows agents to program email campaigns up to 12 months out, scheduling them for critical times – such as right before a renewal date.

LeadMiner, one of the top marketing autoresponders in the health insurance industry, even provides seamless integration with a multi-carrier quote engine. This means that you can send emails with updated, custom quotes based on the information your clients originally submitted when they were just insurance leads .

In addition to renewing a prospect's interest, an advanced system such as LeadMiner also notifies you when a prospect or client actually viewed your email and clicked on a link to get updated quotes. This is a clear indication that they have insurance on their mind and are prime candidates for a call or a timely email reminder.

So while you're courting the prospect that got away or getting referrals and new sales from your current customers, do not pass up on renewal time-the potential for new revenue is just too great.

Marketing Insurance – Be Tough When Marketing Insurance Products – It’s Not That Hard

Annuity sales representatives do not have an easy job unless they understand their role in the sales process. Most agents attempt to offer their services when it should be exactly opposite. I believe the opposite is true, find Cinderella and put the slipper on her foot. In other words, design your target market and focus…

Annuity sales representatives do not have an easy job unless they understand their role in the sales process. Most agents attempt to offer their services when it should be exactly opposite. I believe the opposite is true, find Cinderella and put the slipper on her foot. In other words, design your target market and focus on it.

There are numerous methods in finding leads and I have found that the best way is to sue multiple sources for leads. Many agents send out pre-approach letters and attempt to follow up with a phone call in an attempt to make an appointment. If there was ever a definition of a waste of time, this is it. These people do not want to see you and even if you were lucky enough to set an appointment, chances are it will not be worth your time.

Recently, I saw an agent and his children at the Mall parking lot putting flyers under wind shield wipers which had his contact information and his slogan “Call Dave for the best interest rates in town.” The chances are very remote that this could be effective and worth the effort.

I have found that outsourcing the lead generation effort is a better use of my time. I do so by using internet annuity leads, direct mail and radio. I place my marketing efforts in the hands of those who specialize it lead generation and concentrate on what I do well, seeing people.

Selling annuities is about activity and by removing the basic marketing to a professional as an outsource is smart marketing. Just deal with the leads and see the people.

Annuity Leads, What Really is the Definition?

Have you ever asked yourself what really is an annuity lead? An annuity lead is a name of potential buyer that often comes with contact information, income range, age, email address and possibly other basic information. Obtaining the information for your target market by using well thought out methods of lead generation will make your…

Have you ever asked yourself what really is an annuity lead? An annuity lead is a name of potential buyer that often comes with contact information, income range, age, email address and possibly other basic information.

Obtaining the information for your target market by using well thought out methods of lead generation will make your job easier.

So if this is the case then why can not we get our leads from a lead list supplier by merely setting the guidelines for the basic information? Lists can be purchased based on all of the guidelines of your desired target market. It would be cheaper and just think how many names could be purchased for $ 100 ?, $ 1,000?

The answer is simple, without a “hook” there is no basis for building a relationship. I define a hook as a request for information, a reason to contact the prospect.

There is no way to begin building a relationship with a prospect and laying the groundwork to become a client without a reason for the relationship. By using a lead source such as the Internet or direct mail it will allow you to have a constant flow of people who are responding to the information offer.

I always ask the prospect what the reason is that they requested the information and what they hoped to accomplish with it. Usually they will not share this in an honest way so I sue the situation to ask further probing questions. I have also found that leaving the prospect with printed information will be value added when building a relationship.

Find the Need to Generate Annuity Sales, Need Selling Means Annuity Sales

The Fact Finder will tell you how a prospect feels. The feeling answers found in the fact finder will show you the need. The need could be inflation concerns, income, safety and security, guarantees, almost anything can be transformed from a feeling to a need. There is an old story about selling that explains the…

The Fact Finder will tell you how a prospect feels. The feeling answers found in the fact finder will show you the need. The need could be inflation concerns, income, safety and security, guarantees, almost anything can be transformed from a feeling to a need.

There is an old story about selling that explains the “need to know the need.” It is about a young salesman who was learning the craft from an older professional. The young salesman said after an observation of the older salesman. “You are so good you could sell ice cubes to an Eskimo!”

The older pro responded: “That is unrealistic because an Eskimo would have no need for ice cubes.

In that simple explanation lays the whole concept of “needs” selling. We as agents are so eager to explain our newest product that we misplace the concept of what need the prospect really has. We may want to explain the benefits of the latest and greatest equity linked indexed annuity when the need may be for life insurance or a 3 year fixed interest annuity.

You must know the need before you can provide any recommendation. Typically needs will fall into one of three categories. These categories are based on how a person's life interfaces with their assumed goals. In other words, someone who is 60 and still has not accrued enough retirement money may have a greater concern for safety than further accumulation.

Accumulation needs are defined as a savings goal to achieve a future financial goal, such as saving in an IRA for retirement income. The motivation to accumulate funds for future use could include children's education, buying a car, retirement or many other choices. Accumulation needs do not have to be long term as an example saving for a new car would be less than long term.

Retirement needs could be defined as a financial need to provide a fund to support life after retirement. When we retire, our pension or social security benefits begin but our earned income ceases. The cost of working at a job decrements but medical expenses could increase.

Protection needs can be defined as financial obligations that need to be fulfilled upon death or disability. These could include probate expenses, wills, trusts and income and health concerns that could arise from disability.

The factual side of needs is learned in the Fact Finder and the attachment of those needs to the personal feeling of the prospect must be developed and understood.

The Presentation is Important to Making an Annuity Sale – But, it Must Be Simple

I am often asked how I present the information to set up the close. I have one rule that I have used for years, this rule has allowed me to stay focused and to keep my prospect focused. KISS …. Keep It Simple, Stupid. Early in my career I was taught this concept and it…

I am often asked how I present the information to set up the close. I have one rule that I have used for years, this rule has allowed me to stay focused and to keep my prospect focused.

KISS …. Keep It Simple, Stupid.

Early in my career I was taught this concept and it has been the backbone of my selling approach. Simple sells and complicated does not. My presentation is simple and it normally takes me less than 20 minutes to prepare.

Why?

Because all I do is in a one page presentation repeat back to my prospect in writing what they told me about how they feel during the Fact Finder. I then use any third party information as supporting documents which outs reference material away from me personally. Sources could include Morningstar Principia Pro, MSN Money, Moody's and many others. I allow these sources to assume responsibility for content.

Here is an example of a typical presentation piece. I marked in red where I used outsource information.

Summary of Estate Plan

for

Mr. and Mrs. Jim Jones

Thank you for the opportunity to work on your plan. I have looked at your personal situation, enclosed current reports and made suggestions I think may benefit your goals.

Your current retirement monthly income from social security and Boeing pensions is $ 3,400. You are currently removing $ 600 from your IRAs.

Your current income of $ 4,000 is the needed and desired goal.

You have a LTC policy with Bankers Unlimited Assurance Company with premiums of $ 230 a month. I have enclosed current ratings for you from AM Best and Company. (AMBest ratings from the internet)

Your IRAs are invested in the Delaware Family of Mutual Funds (now owned by Lincoln Financial Group). I have enclosed current reports for you. (Morningstar reports from Principia Pro)

Since your IRA accounts are important to you for retirement security, I suggest you transfer them to a guarantee Equity Linked Indexed Annuity.

I have enclosed the benefits you can enjoy with this change. It can be accomplished without any tax liability.

Closing More Annuity Sales Prospects – Keep it Simple Stupid

The close is the simplest part of the whole process if you have done one thing. Completed a Fact Finder and understood the feelings of the prospect. The sale is expected once a Fact Finder is completed and the need is understood. Listed next is a copy of my presentation explaining the close and how…

The close is the simplest part of the whole process if you have done one thing. Completed a Fact Finder and understood the feelings of the prospect. The sale is expected once a Fact Finder is completed and the need is understood.

Listed next is a copy of my presentation explaining the close and how I transcend to the sales.

This is the presentation explained in the previous lesson.

Summary of Estate Plan

for

Mr. and Mrs. Jim Jones

Thank you for the opportunity to work on your plan. I have looked at your personal situation, enclosed current reports and made suggestions I think may benefit your goals.

Your current retirement monthly income from social security and Boeing pensions is $ 3,400. You are currently removing $ 600 from your IRAs.

Your current income of $ 4,000 is the needed and desired goal.

You have a LTC policy with Bankers Unlimited Assurance Company with premiums of $ 230 a month. I have enclosed current ratings for you from AM Best and Company

Your IRAs are invested in the Delaware Family of Mutual Funds (now owned by Lincoln Financial Group). I have enclosed current reports for you.

Since your IRA accounts are important to you for retirement security, I suggest you transfer them to a guarantee Equity Linked Indexed Annuity.

I have enclosed the benefits you can enjoy with this change. It can be accomplished without any tax liability. (list of benefits)

Once I get to the “list of benefits” I say this. “Mrs. Jones, I have a list of benefits you could enjoy by making this change.” I then review the benefits with her and associate them with her personal situation.

My close?

Simple. I would then get the paperwork and ask her who she would like t name as her beneficiary.

Here is the list of advantages and disadvantages I use. Some remarks in red.

Advantage of Tax Deferred Annuities

1. Tax Deferred Growth. The interest earned is not taxed until it is touched. Your funds grow tax deferred. (no tax until touched, tax liability controlled by owner)

2. Safety. Annuities are among the most guaranteed and safe investments available. (safe and secure, if they already own an annuity, I explain about State Guarantee Association, here I tell them that annuities are the most boring product on the planet … good line, they always respond))

3. Avoid Probate. Annuities transfer to a beneficiary without the need for probate. (no fees direct to beneficiary)

4. Income. At any time, annuities can change from a savings or accumulation vehicle to an income vehicle. Annuities can provide an income that can not be outlived. (safe secure reoccurring income)

5. Estate Planning. Annuities are used in estate planning to help protect assets in the event of a long-term care situation.

6. Interest Income. Interest is available for income any time after the first 30 days of the deposit. The interest can be withdrawn monthly, annually or quarterly.

7. Death Benefit. Your beneficial always receives the full account value from the annuity immediately. (immediately and without need for probate)

8. Fees. No contract fee or sales contracts.

9. Comparison. Interest rate on annuities is usually higher than bank CD's or other fully guaranteed products. (historically for 90 plus years)

10. Access. Unlike bank CD's, you have access to your funds during the interest earning time period.

Disadvantages of Tax Deferred Annuities

1. Penalty for early withdrawal. During the guaranteed period, if you withdrew more than the contract allows, a penalty is imposed. This penalty can be voided by using the contract as an income (pension payout) or death. You can always withdraw 10% of the account value annually without penalty. (if you do not allow the insurance company to hold your money, you can not enjoy these benefits)

2. Early Access: Any access to funds in a tax deferred annuity before age 59 can can be subject to a tax penalty of 10%. (not for under 59 1/2 … they will say that is nt me, ends on upbeat note)

The Annuity Product, It’s Not Important

It would be safe to say that I love annuities. I own them and I sell them. When it comes to suggesting a product for my new prospects I look at the features f the annuity in relationship to the needs of the prospect. The actual product can vary based on the state of residence…

It would be safe to say that I love annuities. I own them and I sell them. When it comes to suggesting a product for my new prospects I look at the features f the annuity in relationship to the needs of the prospect.

The actual product can vary based on the state of residence and the type of product. Many fixed rate annuities and some equity linked annuities are not available everywhere. By focusing on the benefits the annuity provides allows for less influence on the actual product as the needs of the prospect.

Generally, I sell a 10 year EIA which does not lock I the beneficiary to the contract and one which pays full value at as a death benefit. I will go to an A- rated company and I always make sure the prospect knows the ratings. I use AM Best and get the info from their internet site. www.ambest.com

Many agents begin the selling process by explaining the annuity features and the possible yields. Often times the explanation of the annuity is explained before the need for the annuity has even been established. Focusing on the “hottest” product makes the agent an order taker. Being an order taker establishes the agent as a next greatest product pusher. This category of agent will only be interested in continuously replacing business one annuity with another.

I never dwell on the actual product without I am associating a specific feature which would benefit a specific need of the prospect.

Keep it simple.

The Money Transfer, Get the Money Transferred For a Quick Sale

Selling the annuity is the first half of the deal, getting the money is the second half. Many sales have been lost because an agent left this process up to the new business department of the receiving insurance company. I take control of this process and make sure the funds are transferred. If the funds…

Selling the annuity is the first half of the deal, getting the money is the second half. Many sales have been lost because an agent left this process up to the new business department of the receiving insurance company. I take control of this process and make sure the funds are transferred. If the funds are not transferred then there will be no sale and if no sale, no compensation.

If I are dealing with a broker (and are not securities licensed) I outsource the transfer to a specialty house who will move the funds for me. There are numerous sources that provide these services.

If I am moving money from a variable annuity, I source the transfer papers form the variable annuity's website and have them ready for my prospect. If the variable annuity is listed on the broker's monthly statement it will be shown as assets “held outside.” I deal directly with the variable annuity company and not with the broker and handle it as a 1035 tax free exchange.

If the funds are in an IRA I have the IRA submitted and the money sent to the prospect. I have the prospect call me when they come and I have the prospect endorse the funds to the new account. I always set up he new account prior to sending in the funds and have the insurance company issue a policy number. I make sure the policy number is on the endorsements side of the check and I mark it “for benefit of” and insert the prospects name.

I always have the necessary paperwork ready at the close for the prospect to sign. I then have my assistant call the prospect a few days later to check in and make sure there are no issues.