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Selling Life Insurance Over The Telephone
The fastest growing segment of the life insurance
industry is selling life insurance to prospects over the telephone.
This idea makes so much sense that is amazing that
the insurance companies didn’t more widely accept it long ago. An agent
selling face to face would consider themselves fortunate to make two
presentations in a five hour work period, and extremely lucky to make
three presentations. Since it is a mathematical certainty that the more
presentations an agent makes the more sales that will result, it is only
logical to make as many presentations as possible.
Because face to face presentations have the
inherent limitations of travel distance and scheduling, the most viable
alternative is using the telephone to make contact. If the agent has a
sufficient amount of leads, they can make twelve to fifteen
presentations in the same five hour period. An agent using a well
designed presentation script (available at
www.LifeLeads.net) can average one sale (one or more applications
from the same family) an hour with an 80% return rate. This is an
excellent market for the new simplified issue and internet products that
are now available.
It is not hard to understand why many PPGAs are
averaging more than $250K in paid annualized premium a year over the
telephone.
Besides the money, consider the advantages of
working from your home or office. In fact, there are successful agents
working in the north during the summer, and in the south during the
winter. If you have a phone and an internet connection, you’re in
business.
Almost every prospect that will allow you to meet
them face to face will allow you to do business with them over the
telephone, and you open up an entirely new market that would not allow
you into their home before. Look at it from the prospect’s point of
view: They get one on one personal service from an insurance agent
without the need for the agent to come to their home.
Give the customer what they want and they will give
you their business!
Of course, if it was that simple everyone would be
doing it. There are specific qualifications that you must have:
- Leads
- Self discipline
- A product that can be sold over the telephone
- An understanding of how to get a proper
commitment from the applicant
LifeLeads.net can provide you with the leads and sales system, and
many commonly used companies will now allow you to sell their products
over the telephone; however, you must provide the self discipline to
convert all of those resources into commission dollars.
If you have the courage to try something new, and
the desire to realize the income level earned by the top producers, ride
the wave and begin selling life insurance over the telephone on a full
or part time basis.
About The Author
Mr. Osman is the pen name of a nationally
recognized award winning life insurance Master General Agent and
consultant and has been developing life insurance leads and teaching
closing techniques for almost twenty five years. Contact him at
LifeLeads.net (605-362-2576) or at
eric@lifeleads.net.
Copyright Eric Osman © 7/10/06
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