Agents Marketers | The Free Agent Marketing Guide

How to Sell Health Insurance Online - How to Qualify the Prospect Medically - Article 9 in a Series

2008-09-26T07:02:00.004-07:00

Don't discriminate against the rich. They're people, too.

Before we talk about qualifying them financially you need to get all the information required to qualify them medically. I have had several wealthy clients that could have afforded just about any premium imaginable but were uninsurable even at astronomical rates. You need to know what you're dealing with and structure a policy that may be a fit. It may not be conventional major medical insurance but there are alternatives.

Just the current hospitalizations, please. Your tonsils in eighth grade they're not so worried about.

People love to talk about themselves and their aches and pains. It's human nature. They'll tell you pretty much more than you need or care to know about some of the situations surrounding their last trip to the hospital. Be patient and let them talk but try to keep them on task in a nice way. Most people are forthcoming and up front about their recent hospitalizations and they want to make sure that it's documented because they realize that the claims won't be paid if they told a fib. Generally, people are pretty honest.

I just dropped in; To see what Condition my Condition was in.

However, there are a few people that know that they have pre-existing conditions and are trying to slip one past the goalie. They have been quoted rated up condition premiums and have been declined by half a dozen companies. They are looking for Michael Phelps super healthy human being rates and they're on a mission to get those fabulous rates from you. These folks have a way of avoiding specific health questions when you ask about their medical history. If they falter on the question of pre-existing condition then you are probably about to get less than factual information.

I have 78 conditions in the manual ending with 'itus. Can you be more specific?

Underwriting guides are lengthy to read so it's best to get an honest answer from your client in order to preempt a huge waste of valuable time on your part. It's not necessarily a waste of the prospects time because he is trying to manipulate healthy rates from you. He's wasted five other agent's time trying to do the same thing. Make sure they are specific on their medical information. Some conditions are a little offbeat and you may not have dealt with them before. It's impossible to be familiar with every medical anomaly known to civilized man unless you're an underwriter. They're scary in their knowledge of weird medical abnormalities. Don't guess and don't be an underwriter. Look up the condition and explain the company's position to the client on the phone.

How to Sell Health Insurance Online - The First Phone Interview With the Prospect - Article Eight

2008-09-26T07:02:00.003-07:00

Patient: Doctor, it hurts when I do this.

Doctor: Then don't do that.

Previously in this series.

We talked about developing rapport with the prospect on the telephone and we stressed how important it is to speak in a tone that matches the voice of the prospect on the other end of the phone. Less than 10% of the sales process is responsible for making the sale and that's the information given to the prospect. That means you had better close ranks with the larger percentage that says how you talk to them is the reason they buy from you. You have to talk to the prospect in a fashion acceptable to them.

The initial interview is crucial. The very first interview with the client should go something like this.

My name is George, I'm with Brand X Agency, I have a message here that you called regarding health insurance and I'll see if I can help you.

This is a technique that sales gurus Robert Ringer and Tom Hopkins employ and it is extremely effective. Say the next few words and do not talk again until they respond. Remember to stop talking. Critical.

What are your circumstances and how can I help? Now. Just listen. Critical.

If ya start talkin', then you won't lurn nuthin'

Let the first conversation go on until it runs out of steam. Why? They're about to tell you all the information you need to put them into the right policy. They are going to tell you how to sell them. You are about to find out that:

I'm currently insured by Blue Cross and Blue Shaft Insurance Company and my rates have gone up through the ozone layer.
I was downsized four months ago, I looked at my premium and now I know why they call it COBRA.
I bought one of those limited indemnity plans a while back and they haven't paid for anything.
We don't have any insurance and we at least want something to pay for the catastrophic medical bills. We don't need a lot of doctor office visits.
I have a pre-existing condition. I have tried everyone. Maybe you'll have something for me.
I just got married and we need coverage for both of us. Oh yeah, she's pregnant. Is that a problem?

The More You Know, The Better You'll be.

Get as much information as you possibly can because it will help you decide which plan you will start them off with in the quote segment. Find out whether it's the benefits or the premium they are most concerned with. What pre-existing conditions they have. Armed with this information you will be able to customize a policy specifically for them and avoid quoting them something that they can't either afford or can't qualify for.

How to Sell Health Insurance Online- How to Qualify the Prospect Financially- Article 11 in a Series

2008-09-26T07:02:00.002-07:00

Previously in this series we discussed the qualifying of your prospect on the phone for Medical Health Conditions. We'll take it one step further with qualifying them financially.

Take their financial temperature.

We all know we can't help some people because they don't qualify for major medical insurance and that's healthcare as we know it today. Unless Hillary, Ted , Joe, Barack, John or what's her name come up with something else then we just have to live with it the way it is. Ain't it grand?

Assuming your prospect has given full disclosure on their health then you need to find out their financial circumstances.

The medical information is extremely useful in giving you an idea what product to introduce them to.

The financial information? Better.

Mercedes. Range Rover. Two kids in Princeton. I thought they were gettin' by.

If you're making the transition from selling life insurance face to face with your clients you'll need to remember some of the things you may have forgotten.

How many times did you qualify your client based on appearances?

You designed an insurance policy that was loaded with all the things you thought they would need only to find out they couldn't afford it. They had all the material things in their home that indicated that they not only had impeccable taste but they had plenty of means to have that good taste.

You didn't realize that they only had basic cable for that $5000 retractable flat screen television. Who knew?

This is where you went off the beam.

You explained the policy you designed for them in intricate detail. It was the plan they would have chosen, if they could have afforded it. At that point you had a problem, didn't you? They couldn't afford that great policy.

So you backtrack, regroup and design a basic coverage plan for their basic needs. But now you have another problem. What ever you show them from this point on will not be that fantastic policy and they'll be unhappy. It's what they can afford but now it's not what they want.

If they flat line financially, knowing it sooner is better than knowing it later.

The same applies with Health Insurance.

Don't make the same mistake. Find out from your client what the budget is for the coverage. Find out what they're paying now and what they're trying to save. You need to get some kind of figure from them or you'll be repeating history. If they already have coverage, find out why they're not so thrilled with the company they're with now. It might just be all about the money.

Get little affirmations along the path to enlightenment.

By now you are using the iBoomerang product or something else to design the quote online with your client. They see your computer screen on their computer as if they were looking over your shoulder in your office. As you choose deductibles and co-pays you need to get their approval as you select each facet of the policy. They will see how each choice reflects in the price as you go.

Do I Need an Insurance Sales Coach?

2008-09-26T07:02:00.001-07:00

There are different views as to whether a sales person requires a sales coach.

They are people who have doubts if a coach can be of much help to improve performance of an insurance agent. Yes, there are many agents who are self starters and self motivators. They are fuelled by their burning desire to go extra miles in order to succeed in their business. Many insurance agents succeed through their hard work. They put a lot of efforts in their business. They reach out to as many people as they can.

However, if you are looking for a breakthrough in your performance, you need someone to challenge your thoughts so that you can form a new belief system that will change your performance . You need someone to tell you your blind spots so that you can see more clearly what is preventing from going beyond your perceived limitation. You need someone to hold up the mirror and give you an honest reflection so that you can see your whole new self.

These jobs are best performed by a coach. You need a coach to systematically guide you to overcome road blocks and conquer obstacles on your journey to greater success. A good coach will be able to use his practical experience to help you discover your performance gap and achieve breakthrough.

Yes, you have the choice to buy a book to learn how to enhance your performance. However, what you learn from the book, though may be helpful, is meant for the majority of the readers. The book will not be able to provide you with advice that is unique to your situations. Everybody has different levels of strengths, weaknesses and potentials. You need a personal coach to design an improvement system specifically for you.

A coach is another pair of eyes that tell you things you don't see yourself. A coach provides you with insight, objective critique and actionable feedback from an outside vantage point. You need a coach to combat your greatest enemy i.e. complacency. We are creatures of habit. We tend not to look for alternatives and we choose to do things that we can do without giving much thought. We need a coach to shake us off from the chair, take us out of our comfort zone.

If you are already in your peak performance, do you still need a coach?

The answer is "Yes" if you are not contented with what you have achieved and always looking for ways to perfect your skills. Even tip-top athletes like Tiger Woods and Michael Phelps use coaches. They need coaches for one simple reason. They need a breakthrough to bring themselves to the next level. In order to do so, they need experienced coaches to tell them what else they can do to push the limits.

A good coach places his interest before yours. His success is dependent on yours for both of you share the same goals. He can be your good friend who listens to your joy or sorrow. He motivates you when you get discouraged and alerts you to get ready for the next challenge every time you triumph. He shares both your heartbreaking and record breaking moments.

Your coach and you form a powerful partnership where both of you take each other seriously. Both strive to give the best in order to achieve your common goals. A coach to you is like the wind beneath your wings helping you soar higher ground and see things in broader perspective.

Do You Have What it Takes to Kick Start Your Insurance Business?

2008-09-26T07:02:00.000-07:00

Being an agent, you are your own boss. You can decide how much income you want to make, you have the freedom and flexibility to decide how you want to use your time. Running you own business makes you feel you are in control and gives you personal satisfaction. You have more quality time with family and friends. You are able to make your own decision and implement your own ideas.

It is a double edge sword. The advantages can become disadvantages that work against you. You can decide to spend time to do something else instead of working on your business. It could mean long working hours at the beginning when you start up your business. It can also be stressful at times when you need to achieve business targets.

However once you have made up your mind to be in this business, then you just go for it. The price to success is total commitment to the business. It requires tremendous amount of energy and a great deal of personal sacrifice. You need to align every thought in you mind, engage every faculty of your body and get ready every tissue and muscle to work towards your goals.

You need to involve the 4Hs:

Head

Be humble about your knowledge and be thirsty to learn more. Put yourself through education process. Read anything that can enrich your knowledge in the business. Attend training and seminars. Understand the market and analyze the market demand. Learn the business and products.

Learn and practice how to sell. Analyze the problems and challenges associated with the daily lives of people. Find out their needs and wants. Learn how to help address customers' concern and solve their problems. Talk to seniors to understand the practical aspects of the business.

Hand

A relationship begins with a handshake. Reach out to people. Insurance business is people business. The success of your business is dependent on the number of right people you stay in touch with. Expand your network. Get the help from the people you know to introduce you to more new people.

Make friends with fellow agents with positive mental attitude. You can't fly with the eagles if you continue to scratch with the turkeys. Insurance is a rejection business. Getting rejection is a daily affair. You need to neutralize negative thoughts and shake off the dust you gather in the field. Stay motivated. Talk to achievers and get a taste of their success and be inspired by their determination and perseverance.

Heel

Sales take place in the field. Go to the field and see the people. The best learning happens when you are eyeball to eyeball with your customers. Create the first good impression with your customers for there is no second opportunity to create the first good impression. While ensuring your customer is comfortable with you, stay in control in the sales interview.

Follow the footstep of successful agents. You don't need to reinvent the wheel. There are two ways to learn. Either you learn from your own mistake or you learn from other people's mistake. Of the two mistakes, learning from other people's mistake costs you the least.

Walk extra miles for there is less competition. Your customers may require your presence in many situations. Every contact point you have with your customer helps cement your relationship with your customers. One more appointment with your customer means one less appointment your competitor has with your customer.

Heart

Be passionate about what you are doing. Your passion brings out the best in you. Love the fact that insurance is a tough business. It is by going through the tough time we learn to be stronger and wiser. Love your difficult customers because they are the reason for you to be better and more competent.

Hold onto your dreams in life and your belief in this business. When you are down and dejected, it is your belief that makes you stay. It is your dreams that drive you to move forward. Many people give up this business because they have lost their goals in life and their faith in this business.

How to Sell Health Insurance Online - Getting Things Issued & Getting Paid - Article 10 in a Series

2008-09-05T09:04:00.003-07:00

Right Place, Right Time, Wrong Carrier.

Knowing who the good guys are is just as important as anything else in insurance. Just because one carrier has the best rates hands down doesn't mean that you're doing the best thing for your client or yourself for that matter. You may be celebrating a good production week on a Friday afternoon only to find that Monday morning everything went south.

Submitting twenty-five applications is not a bad week's effort. Finding out that your favorite carrier declined 17 of them says you need to find another favorite carrier. Some carriers are more reasonable than others. If your carrier is not accepting at least 85% of your good clean business then you need to switch in a hurry.

Declinations for your client look bad and are bad. No commissions in your EFT are just as bad. Do the right thing for your client first. Get them through a company that wants their business.

That's The Highest Commission Rate I Ever Lost Money On.

Comparing each of the carriers on commissions is like comparing pickles, tomatoes and Fig Newtons. Just because they offer you a higher commission doesn't mean it's all going into your pocket. Many of the major medical plans will have an association part of the policy that is included in the premium when you design the policy.

Guilty By Association.

The association allocation of the monthly premium can represent sometimes 30 to 50%. Just because the monthly premium is $350 doesn't necessarily mean that it's all commissionable. You may only be paid on $200 of that. Some companies pay on the association part and some don't. Keep this in mind when you are looking at your commission statements and tracking down your EFT deposits. It's good to know that in advance. If you find that it's the same company turning down most of your cases then the decision to switch just got a little easier, didn't it?

No Reservations.

The fact that that a few clients cancel their policies after just a few short months is purely that. A fact. Sometimes after they purchase a policy a friend of a friend that knows somebody that has a friend in the business will intervene. They may put them into a real horror of a policy to save them $14 and 32 cents per month and is tragic on paying claims. Realize that this will happen to you and keep some money in reserve for this.

What Are Motor Insurance Brokers?

2008-09-05T09:04:00.002-07:00

What do motor insurance brokers do? They take on the role of an intermediary between the client looking for motor insurance and the insurance company that provides it. From the client's point of view, it can be an especially useful and rewarding relationship since the broker's experience and knowledge of the motor insurance market ensures not only that the most appropriate type of insurance is found, but that it also represents the best value for money.

One of the most reassuring features of the insurance broker's role is that it is an entirely independent one. The independent insurance broker is not tied to a particular insurer or even a selected panel of insurers, but can genuinely - and independently - recommend to his or her clients. Because they are not agents tied in to any vested interest, such brokers can establish precisely the insurance needs of a particular client and trawl through a huge range of potential providers to find the perfect match - both in terms of the insurance cover provided and the price.

But finding the most appropriate insurer is just the beginning of the broker's job. There is an ongoing relationship between client and broker that enables the latter to:

- Anticipate future insurance needs, such as scheduling renewals of the policy;

- Offering specialist advice if the insurance needs are more complex - whether the complexities arise because of the driver's personal circumstances or because of the particular type of vehicle involved;

- Advising on ways of mitigating some of the risks involved in motor insurance - for example, by installing security devices to protect the car from theft or by advising on the most appropriate level of excess for the client to take on, and so reduce the amount paid in insurance premiums;

- Amending the current insurance policy - if you change your car or want a further vehicle added to the existing insurance, for example;

- Providing advice in the event of an accident, or other loss or damage to the car, that gives rise for the need to make a claim under the policy;

- Collecting the premiums due on the insurance policy.

In other words, there is a whole lot more to the insurance broker's role than simply selling the customer the motor insurance policy in the first place. With so many different providers of motor insurance, a broker can play an indispensable role in ensuring that his or her clients buy an essential product not only at a competitive price, but also in the comfort and knowledge that the insurance will perform exactly as intended if and when the time comes to make a claim.

The time for making a claim is often the moment when a particular insurance policy is really put to the test - when you can truly measure the value of what your premiums have been paying towards. Far better, then, to have had the motor insurance broker's input from the very outset, rather than discovering an unpleasant surprise when the cover you thought you had actually fails to live up to its promise.

Telemarketed Insurance Leads - It's So Easy a Caveman Could Get Them

2008-09-05T09:04:00.001-07:00

Telemarketed Insurance Leads

I've spent the past 4 years and a ton of money buying insurance leads that didn't work so what I'm about to share with you are the tricks of the trade that can save you a ton of heartache and money when selecting an insurance appointment setting service.

Most insurance prospects are gathered from the internet via banner ads and affiliate websites. I've seen banners saying "shoot the turkey and win a free Ipod" and as you participate they run you through an insurance application. Other methods are just pay-per click ads with your standard insurance quote catching website. Unlike telemarketed insurance leads, the problem is that most of these leads are collected through a network of lead generating websites so the leads are always sold over and over. What's more they are not pre-screened or pre-qualified. Trying to contact them is always a problem as are their qualifications. Here are 5 tips on insurance appointment setting services.

#1. Telemarketed Leads for Insurance are just plain better. In my experience I have found Telemarketed Insurance Leads to be of higher quality as they have been handled with the human touch and can be screened and filtered based on my criteria; This being said, MAKE SURE they aren't just taking a cheap internet leads and phone verifying them because the end result will still produce a very non- exclusive lead that is being contacted daily by other agents.

#2. Exclusive telemarketed insurance leads come from exclusive telemarketing list, not the internet, so before you buy a so-called exclusive telemarketed lead make sure that they are not pulling the "old bait and switch".

#3. Here's a "no brainer" that most people don't bring into consideration, make sure the company you are buying leads from is not licensed to sell insurance as you will only get the leads they didn't want. I can't say I blame them but they are definitely cherry picking the good leads for themselves and selling you the rest.

#4. Pay-per-appointment not per lead! Telemarketed insurance Leads me with set appointments for you to call them back and move forward with your proposal. There are only a few companies out there that guarantee their insurance appointment setting so make sure you receive in writing a 100% contact guarantee! It's well worth paying a little more.

#5 Find a company that has the right tools for the right job not a fly-by-night operation. The right tools insurance appointment setting is a well established call center and highly knowledgeable staff that can help to filter the criteria and target your telemarketed insurance leads campaign.

Contacting and Developing Great Relationships With Insurance Agents

2008-09-05T09:04:00.000-07:00

If you have a service that can be marketed to insurance agents, you know how difficult that can be. In every major city, there are hundreds if not thousands of different insurance agents within it. When you consider the nation as a whole, there are over 400,000 different insurance agents. While your product might benefit all of them, unless they know about it, it won't. Therefore you have to find a way to get your service or product into their hands. What is the best way to do this?

Using a list is a great way to increase your effectiveness. This will speed up the process exponentially and will make you more successful. How exactly does a good list help?

If the list is up-to-date, you won't waste your time chasing down old leads. There is nothing more annoying than dialing a number just to find out that it's been disconnected. On second thought, it might be more annoying to visit an insurance agent, only to find out they've went out of business. Either way, you're wasting your precious time. With an accurate list, you can only market to businesses that are still in business.

Another way that an effective list can help is by seeing which services insurance agents offer. If you market a service that helps home insurance, you don't want to market to agents who only sell car insurance. This is a waste of your time and theirs. You won't make many friends or money in the process.

Many lists compile their results from the state licensing board. This may be considered a good place to start, but it won't give you the detailed results that you need. With this method you won't know what they sell and you won't have multiple forms of contact.

When you market anything to insurance agents, the best way to do so is through multiple contacts. You have to constantly email, call, fax, and direct mail in order to get any kind of successful results. Without consistent action, you won't get very far. If you only have their phone number, they'll probably get sick of talking to you on the phone. However, if you have their address and email, you can send less threatening forms of communication. They will appreciate this more and will reward you for it with their business.

Insurance Agents list is NCOA (national change of address) validated and email lists are scrubbed. Most list sellers are selling outdated data that won't get you very far. With Insurance Agents lists, you get only the most up-to-date information for your business needs.

If you market your services to insurance agents, you need to keep a steady stream of leads. Without a good list you will be struggling to find customers. We all know that a business without customers isn't really a business at all. If you need a quality list of insurance agents, look no further than Insurance Agents. They will have exactly what you've been looking for all along.

How to Sell Health Insurance Online- How to Qualify the Prospect Financially- Article 11 in a Series

2008-09-05T09:03:00.000-07:00

Previously in this series we discussed the qualifying of your prospect on the phone for Medical Health Conditions. We'll take it one step further with qualifying them financially.

Take their financial temperature.

Assuming your prospect has given full disclosure on their health then you need to find out their financial circumstances.

The medical information is extremely useful in giving you an idea what product to introduce them to.

The financial information? Better.

Mercedes. Range Rover. Two kids in Princeton. I thought they were gettin' by.

If you're making the transition from selling life insurance face to face with your clients you'll need to remember some of the things you may have forgotten.

How many times did you qualify your client based on appearances?

You didn't realize that they only had basic cable for that $5000 retractable flat screen television. Who knew?

This is where you went off the beam.

If they flat line financially, knowing it sooner is better than knowing it later.

The same applies with Health Insurance.

Get little affirmations along the path to enlightenment.

Take the sage advice from Tom Hopkins and get their heads nodding up and down while they customize their own plan.

Want to Be Eaten Alive? Or Win Control and Increase Insurance Commissions?

2008-08-25T09:40:00.002-07:00

WHO IS IN CONTROL? Insurance salespeople must learn that either you control the situation or the situation controls you. Through years of buying thousands of items your prospect, know how to get the seller to serve them much like a clerk at a retail store. The insurance agent does not have time to merely highlight his product, with an information-shopping prospect that will never turn into a client As a True insurance agent you must change your technique and attitude and start taking control of the situation. If you cannot get yourself, a salary job or become a retail sales clerk!

GETTING EATEN ALIVE The majority of sales people are like a lion tamer without a whip. One false move and it is all over. The few insurance agents that survive develop the tools to stay in charge. You will see how to take control to increase insurance sales 200% or more. However, remember to be highly successful you must start by upgrading the "leads" and quality of insurance prospects you see. Then you must be able to turn a sale more often, by only working on the best leads you have. Often that means learning the techniques to learn how to separate quickly prospects that are worth pursuing.

WALK ALL OVER YOU Because of the daily buy/sell transactions of your prospects, in most of these situations if is the buyer who it is control. The buyer is used to shopping around for products that strike their emotional desires. Then only it the feel the situation is right will they make a purchase. If not they will walk a few stores down and see what they have to offer. They put the sales people at their mercy. Nevertheless, remember the vast majority of retail sales people are not paid solely on commission or they would not last the barrage of "kiss my feet" buyers for a week. They are not like you, a true insurance salesperson, but merely an order taker.

INSURANCE IS SOLD There are no retail insurance stores. Otherwise, someone could go in to pick off the top of a stack, an insurance policy that looks appealing. They go up to an order taker for assistance in filling it out. The final procedure is making payment at the cash register. Fortunately, insurance is not a policy purchased by visual appeal or merely price appeal. That is why so many policies sold over the internet never renew, and have so many claim problems when a loss results. Only you, a true seller of insurance, can write insurance policies that are renewed year after year, and where almost all claims are handled to your client's satisfaction.

Do Not Envy Insurance Companies Selling Over the Internet or on TV, PITY THE PURCHASERS, for they know not what they do.

REVEALING HOW TO INCREASE INSURANCE SALES The way to at least double your income involves one selling skill that few insurance agents every master. To do so you MUST Destroy your company or slightly modified presentation you are now using. You MUST develop a new flexible presentation to identify the customers most likely to buy from you. A skilled agent will recognize loser deals. You need to be able to stop from continuing a presentation. You will learn how to deal only with prospects that are ready to take action.

TAKING 100% CONTROL The person that ask questions is the one in control. Before you start you presentation give you prospects a yellow pad and pen, and tell them "if you have any questions, please feel free to jot them down, so I can answer them after explaining the policy benefits". See that was not hard; demand control and you will get it. If they dare speak up, let them ask their question. Respond with, "That is a good point that other CLIENTS of mine have asked, let me jot that on my pad. I will make sure I cover it shortly". Then proceed right on through. Next test your prospects. "Does the plan I presented cover enough of your needs, or is there an additional benefit you see important? The usual response if I do not think so. Then KEEP CONTROL. "Do you usually handle matters of this importance with an annual payment or in installments?"

NO OBJECTIONS OR YOU WALK

A certain number of prospects are unwilling to give up control, another 30 minutes is not going to convince them. Put your foot down, no good skilled insurance agent is going to allow himself or herself to be stomped on. If they say, "I want to wait to see what my son's insurance agent says first" Reply back, "I don't think he is an expert in MY professional field." "Should I leave, solve your need now, or let you son decide exactly what you need?"

Client objection - I want to think it over. "If you talked to all the widows at a cemetery plot, many will tell you regretfully their husband said the same thing. "Do you want me to leave now, or do you want to rest better tonight knowing your wife will not have this problem?" Hint: Look straight at the wife while saying this. You prospect says, "I want to compare prices". Your answer, "If you buy cheap car insurance you will get cheap benefits at claim time, same thing here." "Let me know if you want me to leave now, as we can adjust price and benefits. I'm a professional and gave you the best I believe you can find."

Taking control over your prospect is a selling skill not hard to learn. But until you do, leaving the prospect in charge leads to very few sales.

Independent Broker - Dealers Miss Majority of Ideal Recruiting Methods

2008-08-25T09:40:00.001-07:00

Apparently, the marketing and recruiting directors of Independent Broker-Dealers have very little recruiting experience or are completely unaware of profitable methods to recruiting opportunities to expand. Their first way of bringing aboard new producers is insurance and financial publications. The full page ads tout their own horn, and gain name recognition from their peers. The amount of inquiry interest from quality variable contact insurance agents is very minimal, and therefore ineffective.

The other method of recruiting used, is to rely on a myth, and bypass the insurance agents they really need. This great myth is believing all the worthwhile variable contract life agents have signed on with variable contract dealers. Therefore, efforts and expenses applied here would not be profitable. The option chosen is to only go after agents WITHOUT a current vc license. However before these insurance agents could even write a case, they would need to get the proper NASD licensing. Trying to persuade an agent to jump into new water, results in bringing aboard so few.

COMPETITION IS NOT GREAT 100 Independent Broker-Dealers currently control 90-95% of the market share by independent agents. In fact, the top 50, I show as controlling over 80%. Let's say 900 of their representative firms did some recruiting, that would still bring the total to only 1,000. In turn there are slightly over 15,000 marketing and brokerage firms competing for the life, health, and annuity business of semi-independent agents and independent brokers.

A SMALL PIE TO FIGHT OVER. Only around 1,500 wirehouse brokers (not 15,000 or 100,000) leave their wirehouse each year, with about 1,200 of them joining an independent broker dealer. Big, big money is stupidly spent pursuing these few brokers. In fact many of the independent broker-dealers offer upfront cash incentives to join their firm. The following paragraphs show why this is so stupid

MISSING THE OPPORTUNITY Never Assume! Independent Broker-Dealers Assume. They assume the already licensed variable contract agents are almost all taken. A Bad Assumption. Thinking the pool is by now jammed with Stockbrokers, Captive Agents licensed with their company, and agents licensed with other broker-dealers is very, very wrong. My figures show they are right about 40% right about eligible variable contract agents taken. However, my analysis and computations show 60% are remaining as ideal targets..

105,000 VC AGENTS OVERLOOKED There is a base of roughly 250,000 insurance agents with variable contract license qualifications that could be considered semi-independent agents or independent brokers. Deducting the 100,000 or so aligned with independent broker-dealers, leaves 150,000. Of the 150,000 nearly half are semi-independent agents with still a main company connection. My figures show that within the next 24 months, more than 20% with become fully independent. That totals 30,000. Added to the 75,000 current independent agents without broker-dealer affiliation, that totals 105,000 strong production producers. It also means 105,000 overlooked agents not using their variable licenses.

15,000 DISCONTENT VC AGENTS Time to be realistic. Of the current 100,000 insurance agents under the wings of independent broker-dealers, not everyone is happy. Some are not currently producing vc business, while others in the next 12 months will be searching for green pastures. Adding these 15,000 to the 105,000 above is how the 130,000 figure is arrived. That's makes up over half the total possible base!!

There are four targeted groups that independent broker-dealers hire man hunters to locate for them. The Low Range, up to $99,000 production brokers, often sell many insurance products are well. They are profitable as the compliance risk is greatly reduced, there is a substantial profit spread for broker dealers. $100,000 to $299,000 production brokers also provide a low compliance risk. Many of these brokers are on their way up, but some firms do not want the additional time to provide and train with the technology tools these brokers need.. The $300,000 to 749,000 production level brokers is where the highest level of competition lies. Even at this level their compliance risks are low. What the broker-dealers lose in profit spread amount, they make up for in volume. $750,000%2B production brokers can virtually call their own shots. They are excellent for the "image" of the broker-dealer, but the service and technology that is provided must be high end.

PROVEN CAPTURE TECHNIQUE Do not rely heavily on financial magazine advertising. Either the ads do not inspire them enough, they don't read the ads, or they do not subscribe to the magazines. Find a targeted insurance agent list comprised of licensed variable contract agents only. Go 5 times better and find a specialized list comprised almost entirely of semi-independent agents and independent brokers with variable contract licenses. Direct mail this list at least twice. Here you are selling gigantic investment products yet you do not correctly know how to market and recruit ready made producers.

Hanging Up on Insurance Agent Phone Calls

2008-08-25T09:39:00.002-07:00

At one point, way back when, insurance telemarketing for leads was as effective as insurance direct mail. However, that was over ten years Are you still trying to make a living by thinking what worked then worked then must still work now.

So many misleading articles promote how easy it is for an agent to get on the phone, handle those objections, and make a profitable appointment. Did these article writers find these reports buried at the bottom of a vault a decade ago. WAKE UP! Are you selling insurance to make a decent living or to keep riding a dying horse? 20% of people have unlisted telephone numbers, another 55% are on the do not call list. If this is not bad enough, almost all of them have cell phones.

Did you ever think they feel your phone call is much more intruding than a piece of direct mail they can pitch out at their convenience? Are they taking a nap? Just out of the hospital? Having a quick romantic interlude? Devouring a delicious hot meal? On the other hand, are they just waiting to give hell to the next person that interrupts them? You must think they are just sitting around for a phone call that can make their day. Think again, because if you do not, you will pay dearly.

You may not consider everything you just read to be crucial information about insurance agent phone calls. But don't be surprised if you find yourself recalling and using this very information in the next few days.

You must have something better to do with your time. An insurance professional does not work at a wage ranging from minimum wage to $12.00 an hour. That is exactly what you are doing when you are making soliciting phone calls. Have you registered with the Federal Trade Commission before making even one single call? If not you are already a violator. Have you checked with both the State and National Do Not Call Lists about whom you are calling? Did you make sure you are not calling a cell phone number? Can you afford to pay the FTC a huge fine they are more than willing to collect on?

If you are the typical insurance agent, you earn about $40,000 a year. What would just one $11,000 fine do to your career? Chances are it would end it permanently. Quit acting like insurance telemarketing is the only way, or the most effective way, or even the cheapest way to obtain new clients. You are wrong on all three points.

Career life insurance agencies are the key suspect for implanting telemarketing for leads in your head. Why? It is so simple you can answer it yourself. How much does it cost the career life insurance agency to have you make hundreds and hundreds of phone calls? Now answer this. Do you know of a career life insurance agency that provides you with true leads? True leads are responses from people interested in looking at an insurance product you are comfortable at selling. With true leads, you should have a minimum 65% closing rate.

Career life insurance agencies are too cheap to provide a bounty of leads to keep you selling instead of insurance telemarketing for leads. Did you know that instead of an $11,000 fine, that amount of money invested in a quality lead acquisition program would have done miracles? Appointments from true leads would have given you substantial new sales and clients. Moreover, it should have jumped your yearly income up at least 25%.

Go ahead and let your career die with your dying horse. Just remember, there are quite a few experienced insurance agents riding high by changing their habits to meet the constantly changing insurance market.

Now might be a good time to write down the main points covered above. The act of jotting down a note will help you remember what's important to you about making insurance phone calls.

Hopefully the sections above have contributed to your understanding of insurance telemarketing. Share your new understanding about insurance telemarketing with others.

Are You a Need Or Greed Annuity Broker

2008-08-25T09:39:00.001-07:00

It all often starts with the trade financial and insurance publications. Check out who is trying to attract the attention of the annuity brokers. The insurance publications rarely show annuity advertisements that deal with the benefits the prospect/client will receive. You would think that would be the insurance companies' main concern. WRONG. The insurance companies' goal is to make plenty of money. To achieve this goal they need the insurance annuity agent or broker to sell their products.In turn the use the emotion that attracts the most attention.

There is extreme competition for contracting higher producing annuity agents. My current analysis shows this: Direct mail solicitation for selling annuities is more than twice as high as any other product. In looking at financial and insurance publications, it appears advertising competition becomes around five times as great.

The annuity ads in these insurance publications only focus on two of the major six emotions. They are Greed and Need. The Greed advertisements to an insurance annuity agent focus on commissions and frequently the all expense paid trips or excursions. The Need advertisements are directed toward gaps or policy feature innovations that "none of their competitors" supposedly comes close to having.

THE MOST COMMON EMOTION Based on quantity of total annuity producers, the GREED emotion of an insurance annuity agent comes through the strongest. An annuity purchaser, who does not shop around, buys what the agent or broker offers. Therefore, the product shown is most often the one paying the seller the highest commissions. Here is why. The agent may have one annuity paying 4% commission and another paying out 6%. If the annuity policy sold is for $50,000, the commission would be $1,000 higher when 6% commission is paid. These agents make up 60% of all annuity writers, and have an average of 5.7 years experience. The majority of the Greed Emotion brokers tend to place their annuity business with one annuity insurer.

2 Big Misleading Insurance Selling Tips Destroying Agents

2008-08-25T09:32:00.000-07:00

MISCONCEPTION #1

This piece of advice wants you to believe you can learn valuable information by closing studying what your competition does. Career Agency "a" has an 18% agent retention rate after 18 months, Competitor career agency "b" has a 16% agent retention rate after the same 18 month time period. You are told that studying your competition will find ways your product is superior.

THE TRUTH #1

To me it looks like a case of a blinded new agent searching for information and techniques from other untrained agents. I look at facts, not some fabricated unsubstantiated information. Your prospect does not care if you offer the product of agency "a". agency 'b', or unknown agency "c'. When you are sitting at the prospects table, you are the ONLY COMPETITION. There you must focus completely on you presentation skills. If you presentation if given very well, your prospect will often buy, no matter what company you represent. If this were not true, there would not be 600 active life and health insurance companies in existence.

MISCONCEPTION #2

You are told that the insurance market is saturated with people who have already bought a policy like you are offering. In addition you are told that people are also looking to buy the cheapest policy available. Add to the misleading that insurance is a "mature product". So to sell it, squeeze it in with benefits and price.

THE TRUTH #2

Let's start by covering market saturation. If the market was truly saturated and mature there would be a shortage of insurance purchasers. Would the person who came up with this crazy misconception look at some facts? Millions of Americans each year buy all forms of insurance policies endorsed by AARP. They were not badgered by a local insurance agent, but did the transaction willingly by themselves. Most next year will purchase an additional AARP policy, without having anyone compare price, competition, or market over saturation to them.

The misconception that price is so important to the buyer. Agents who feel that price sells policies may think they are an expert. I know that they are dead wrong. I would strongly suggest that you stay clear of any person wanting to buy because your policy costs the lowest. The next year they will no longer be your client. Instead they will have become the client of a different company insurance agent offering an even lower price.

The price issue is standard mode of operation for what I consider a lowdown replacement "roller" agent. And there are thousands of them. Why? They get the client to buy their policy for slightly less, and the client losses initial benefits like the "suicide clause". The agent is the only winner. This agent gets credit for writing a brand new insurance policy and is subject to full first year commissions.

Price is never the primary driver for making a sale or not. To sell insurance honestly, you must convince your prospect how each feature you mention will benefit him. Next, and almost as important, you must sell your client on you. Have you provided him for reasons to think you are trustworthy, like-able, and knowledgeable? Price comes in last place. If you have motivated your client in the first two phases often he will be eager to buy. He wants to start receiving the benefits of your insurance product right away. Here's a True Tip: If you are still in the butterfly stage, try this. Offer you prospect 2 versions of the product at 2 different prices. Then ask him which of the 2 suits him the best. He will usually take the higher priced option.

Exposed! #1 Biggest and Most Costly Insurance Marketing Mistake Made by Most Insurance Agents Today

2008-08-10T08:12:00.000-07:00

Most insurance marketing techniques as well as insurance marketing solutions are not effective for several reasons, but one of the biggest underlying reasons is the insurance marketing foundation that insurance agents try to market upon.

Let me explain.

Most insurance marketing pieces are cursed with the curse of knowledge. Now I wish I could take responsibility for coming up with this saying because I think it is a really cool concept, but I think I read it in a book.

Here is what I mean when I say insurance agents marketing is cursed with the curse of knowledge: Try this test. If you are hearing a song in your head for this example we will use the song Twinkle Twinkle Little Star and you try to tap your finger on the table to the tune of Twinkle Twinkle and you are not humming the song, just tapping the tune that you can hear in your head, and try to have someone listen to you tapping the tune on the table and they have to guess what the song is that you are tapping then you will be shocked at how they can not figure out what it is you are tapping!

If you do not believe me, then try it right now with whomever you are with. Tell them to guess the song you are singing in your head, but you will tap out the tune on a desk or wall or whatever.

They will get frustrated trying to figure it out and you will get frustrated and try to tap the song harder, slower, faster, softer, EVERYTHING you can think of to help them guess what the song is, but the communication NEVER occurs. The curse of knowledge is that you are hearing the song in your head and trying to convey it via tapping and to you it seems insane that they can not figure it out, but to them you are coming across like Jack Nicholson in in the movie One Flew Over the Coo-Coos Nest!

The disconnect and miscommunication is because of the reality that is based on YOUR OWN knowledge. You, the insurance agent, know the song but they, as the insurance prospect do not at this point and you are trying to convey the knowledge by tapping which seems really easy and simple to you because once again you can hear the song in your head, but your insurance marketing prospect can not hear the song because they do not have the knowledge that you have.

So the bottom line is that insurance marketing needs to be targeted based on the reality that is in YOUR PROSPECTS head because this is their knowledge. And always remember their reality does not mean it is the truth, in fact, it could just be their perception, but it IS their reality until your insurance marketing overcomes their perception.

So here's where the Big mistake begins.

First, most insurance agent think there is only one reality. WRONG!

The truth is there are literally 2 realities. Your reality based on your knowledge. And the prospect has a reality based on their perception. Most insurance agents are dillusioned into thinking that their insurance marketing will work using the agents sense of reality and impose it onto the prospects. This NEVER works.

Too many times insurance agents will want to argue and say the prospect has a wrong reality, to which I do not deny, but the bigger question is Do You Want To Be Right or Rich?

Just like tapping your finger to Twinkle Twinkle or the Star Spangled Banner and expecting someone to guess what the song is just by hearing you Tap out the tune (I am serious, you have to try this simple exercise and it will amaze you,But do not cheat and hum the song! ) When you market to the reality in your head you will explain, justify, etc all based on truth and end up with ZERO results.

Here is another Two Realities Of Marketing Analogy.

If you are married you will know what I am about to say is pure unadulterated truth. Let us say you and your spouse have an argument. You know what REALLY happened and then you hear what your spouse thinks what happened and you quickly realize that one of you were not at the same event!

That is the same type of disconnect that occurs with your insurance prospects if you choose to use your reality when marketing verses their perception of reality. And if you are really married, then you know for darn sure that you will not win this battle! (If your spouse is with you do not laugh out loud right now because you do not want to have to explain this to them because that will only lead to an argument. Just trust me on this.)

So in summary, as an insurance agent you must strip yourself of the curse of knowledge and position your insurance marketing to speak to the insurance prospects knowledge and reality and move them along the conveyor belt of decesions to arrive at the only logical conclusion which is to obtain your insurance services and or insurance products!

I hope you have found this information helpful and instructive, and most importantly I hope you use it to take accurate actions to go and grow your agency.

To get your FREE GIFT and discover more unique and powerful profit producing proven insurance marketing solutions including breakthrough Direct Response Marketing tips to generate Insurance Leads then please visit the Insurance Mavericks at http://www.insurancemarketingmavericks.com

Article Source: http://EzineArticles.com/?expert=David_T._Johnson