How To Sell $10,000 Weekly In The Life Insurance Business
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- čas přidán 29. 07. 2018
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Important Income Disclaimer:
All references, statements or claims contained in this video of any positive sales/earnings results that agents have achieved or are able to achieve using our training courses and membership programs, whether made directly or through any existing agent testimonial, represents result which are not typical and, in some cases, extraordinary, prospective agents should not rely upon any such examples or claims or automatically expect to achieve any demonstrated or referenced results achieved by other agents or that may be claimed directly by any existing agent in this video. There is never a guarantee that any of our agents will achieve any positive results. While similar results are possible and they have occurred in many cases, obtaining the level of final expense, Medicare, and/or annuities sales/earnings results that may be referenced or claimed directly by any of our agents in this video is based upon a variety of factors, including your level of effort and desire and other circumstances that cannot be predicted. We make no express or implied guarantees or warranties that the same sales/earnings results will be able to be achieved by any new agent using our training courses and membership programs. - Jak na to + styl
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It’s crazy, because everything you say is literally the difference between averaging 2-3 appointments to 4-5 appointments. The more people you sit in front of doesn’t ONLY mean more closes, but MORE EXPERIENCE. As your experience increases and you LEARN and adapt your game, your closing rates will go up as well which is going to tie into your success as well.
I just got my license and contracted in September, and I personally submitted 27k in January, 14k already paid. I can’t vouch to this numbers game any harder. Because it’s not a theory, it’s TRUTH.
Good job, Karnage on the production. The crazy thing? There is less risk taking MORE leads and running MORE appointments than shying away of maxing out appointment volume because of perceived risk.
David Duford absolutely. The amount of growth as well. I work very hard because im a new agent, so if I can run 4+ appointments every day I’ll get the same experience as a standard agent in half the time they did.
Thank you so much. At 62, dead broke. On ss income I just got my liscence for life and annuities with wfg. Im studying your channel. Thank you once again.
You're welcome!
Hello Muchimi! Congrats on your getting your License. I started with WFG commission is too low.
Shirley Clark hi! I’m starting with WFG as well. Is it a great place to start at least?
muchimi ten months later, how’s it going fit you? Still in the business?
@@shirleyc1819 thats what im doing i payed 100 to get in and 25 for classes bit im a independent contractor or something like thay
I like the way you explain things. Very easy to understand.
Thanks Mark, I appreciate the nice compliment.
Hello David
New to your very encouraging site and industry as i just passed the CA exam and researching a niche market. You mentioned that Mortgage Protection had higher premiums and closing ratios but you focus on Final Expense. Could you elaborate the difference and why. Greatly appreciate that. Thanks, Larry Lumia
Hey Larry. The primary reason closing ratios may be higher relative to final expense is the quality of the lead is better. Mortgage protection leads come from people who have just purchased their new home or refinanced, so protecting the family from losing the home is top of mind, whereas final expense leads are mailed to people who are not necessarily going through a significant life event that would prompt them to consider buying. Additionally, premiums may be higher with MP due to selling people who are still working and insuring both spouses, whereas final expense sales are commonly made to widows and single people. Hope that helps!
I've found your video series incredibly useful. Thank you for sharing your knowledge!
Glad it was helpful!
Thanks for this, Dave! This is gold!
Welcome!
Hi Dave.
I enjoy your training and Its easy to understand.
I'm totally new to this and don't understand it all, but the agency in with is touch and go training. I would like your advice on where to locate absolute training.
I understand that this is a numbers game but my apps are getting hung up in underwriting. Obviously I've missed a critical part of the process, However the only answer I get is keep your head down and keep writing your doing a great job, im getting frustrated because im putting in 10 12 hours a day 5 to 6 days a week.
Dave any advice or solid direction would be greatly appreciated
What type of business are you selling? Final expense or fully underwritten?
Hi Dave. When you know 4 or 5 will no show on the super busy day. When the next day is just as busy, and if you have 4 or 5 from that day no show. When do you fit these no shoes in again?
Thanks
You just fit them back into the call routine. Most no shows won't see you and were just too skeerd to tell you no on the phone and decided to bail (ie, hide in the back of the house).
David great videos sir! I'm almost positive you have a video on it but what's your suggestion for buying leads? Do you have favorite vendor?
Everyone in final expense will recommend Direct Mail for face-to-face. Facebook leads for telesales
Good face-to-face lead vendors include Need-A-Lead and Lead Concepts.
Good Facebook leads are Game time leads and Secure Agent Mentor. Personally, I've heard better things about Game Time leads
Thanks - check out Jordan's comment.
I'm going to be working with a lead generated company. I also plan on doing some of my own sales. Going into high-end neighborhoods and saturating with flyers to up the ante on my leads generated . It's what I know how to do as a former business owner. Do you think that will help with my sales?
Sure, if you are good at it, leverage your strengths. Ultimately the goal is to rely exclusively on your marketing efforts, so look to scale up as you see success =).
Do you have a FFL review video? Or what are your thoughts about them? If you have to start over would you join them? Great video btw.
David has to tread lightly on his review of companies, and I totally understand and respect that. I don't. FFL (Family First Life) is a terrible company in my opinion. I was under their thumb at one time and I saw them as multi level marketers. They act like their leader is a God. They treat all the leads you buy through them as theirs. I have also seen them encourage agents to sell accident policies to senior citizens thereby giving them the illusion of having a real life insurance policy. When looking at the reviews on Facebook and others, follow the trail and you will find the good reviews are always their own people and bad reviews are deleted.
Hi David! Could you tell me which company you use to purchase leads?
Sure. Review my page here - davidduford.com/final-expense-leads/
Hey David, what are your thoughts on Symmetry Financial Group? I’m interested in getting my life insurance license again and want to make sure I make the right decision. 🙏🏽
Sign up with Senior Life. They use an application on the IPad. It’s sooooo fool proof. Tell them Adam sent ya. 😉
Check this article out for more details: davidduford.com/symmetry-financial-review/
What do you recommend we use to buy leads
Any fixed price direct mail vendor for final expense face to face. For digital leads, gametimeleads.com, happyagentleads.com, and tipstricksandclosers.com are good places to start.
Can you put on a patriots helmet and do a side by side photo with Tom on your next video?
Absolutely =)
So what does 10K in Insurance Sales per week represent in weekly commission?
Varies wildly depending on commission level and whether or not you're buying leads.
I am a brand new 1st time in the biz life insurance producer. I am contracted with WoodmenLife as of 8-1-18. I want to start off on the right track and not build time consuming wasteful habits. Do you work with people in my current position?
Sure - are you looking to optimize your career at WL, or looking to move elsewhere? Either way, there are some things I can do to assist.
Dave Duford thanks sir. I will be reaching out. I want to maximize my wl. Thanks
Sounds good!
Are you still with Woodmenlife
Johnny Jones looking like it’s been a year since your comment, are you still in the business? I keep hearing about agents buying more leads and getting cash strapped buying the leads and because couldn’t close world class policies in their first year, had to quit to get a job to pay for the debt they went into to get the leads. Just curious. Please respond if you see this. I think we should all start a LEAD GENERATING company and get rich off of desperate agents. ;)
(I’m kidding about the leads building company, I’m just stating what many are thinking, I’m not ignoring that hard work, persistence and consistency builds super success!)
Hi David
I am so confused of which company to go with
Getting so many e mails
Can u recommend .
This Guy =)
Seriously, feel free to reach out to me at davidduford.com/contact/ and let me know what you're looking for.
I'm happy to help whether or not you decide to work with me.
@@TheDIGAgency
ok, can we speak? 954-648-5981
Lori
Sure thing - emailed you a few days ago!
Dave, I'm stuck on which type of leads to purchase. Should I go after MP or FE.
I'm thinking I should start with FE since I can buy more leads with the same money, then work my way up. Or am I thinking about it from the wrong perspective
Hey there, good question. My questions to you - do you mind working late nights? What are the 2 or 3 closest cities to you?
David when I buy these leads does it guarantee an appointment with these people .
No, not at all. Expect to get 50% to book appointments if you work hard. But there is no guarantee.
How much does leads cost
So you don't write full time no more? If so, why not?
I haven't for the past year. I don't have to considering the income I make from overrides and such. I probably average once a week in the field, training new agents, working referrals, and odd-ball stuff.
What do you think about AIL?
In short, not for me. I'm born and bred an independent agent. I must have multiple carriers and be able to run my own business without outside influence from managers and corporate. With that said, AIL no doubt has some fantastic producers, and many organizations love recruiting AIL agents because they are excellent salespeople that know how to hustle.
@@TheDIGAgency thanks David
Can you make a video on your sales call? I read in the comments where you spend bout 15 mins with client and youve already figured out if their buying or not? How ? ! Im all bout becoming more efficient and not wasting time with non buyers.
Cool - I'll do a brief video on my mindset when running my insurance sales calls including a brief overview of what I say and how I run my presentations. Look for it in a week or two.
With the math you showed the lead budget was never subtracted back out?
I think so based on recollection. Good agents have a cost of doing business of about 25% of their total production FYI.
When in an appointment and you smell NON-buying signs (ex., asked for the close, dealt with 5 objections and still not buying) do you bail quickly so you can hit the next call?
Hi Nocamo - good question. That's all handling in my sales presentation. My presentation is designed to sort through prospects in about 10 or 15 minutes to determine if they are high-odds prospects, or low-odds suspects. In short, if they don't fit my criteria for buying (need, want, health, bank, budget), then I'm outta there.
Can you do more videos on life insurance that don't include final expense Info? Nothing against your career just more interested in the life insurance business.
Hi Brandon - thanks for the comment. What specifically in life insurance sales would you like to see?
What about telesales?
Same fundamentals apply.
Where can I buy life insurance leads
You can buy Facebook leads and telemarketing leads here - feagentmentor.com/final-expense-internet-leads/
What kind of leads are these were you are able to get it 50% appointment rate. 20 leads equal to 10 appointments that's gold. Sign me up. For real.
Direct mail leads.
How much goes in you pocket after selling 10k ?
Hey Vance. Depends on the system. Boiled down, a solid life insurance sales and marketing system should return $3 to $4 for every dollar invested in lead and appointment generation. Meaning, if you invested $50,000 in leads, I would want to clear $100,000 to $150,000 after expenses. Obviously, your mileage may vary.
Dave Duford thanks for the reply. So now as far as raw commission off of having sold 10k what are we looking at?
Gross commission depends on what your contracts stipulate. Most agents at this level of production should be at 100% to 120% contracts with most carriers (not including GI, tends to be 60% to 80%, depending on the carrier). You must also factor in lapses, chargebacks, etc.
Dave Duford ok I thought I heard you say 100-120% in this or another video, but I wasn’t sure I understood you correctly, or I just didn’t believe you could be talking about commission. How can they pay you more than what you’re selling? Is it because they’re basing the commission off the first year and they expect more years of premiums to be payed in, after they’re done paying you?
Correct. Essentially, many final expense carriers will literally pay you more than first year premiums received. Why? Because they have reason to believe that total premiums paid over the average lifespan of a policy far outweigh the upfront cost to pay an agent. Trust me, these life insurance carriers are *made* of money. They have a pretty good idea of what to do to profit =).
Do you get residual income ? Do companies pay 401K for benefits? How long is schooling ?
Hi Lynda! In short - Renewals = depends on the product (Medicare is a good renewal product). 401ks = no if you're an independent agent, yes if you are working for a carrier. Schooling = all you need in most cases is a license to sell life insurance or health insurance. Some companies may want college experience, but most don't care.
@@TheDIGAgency thank you for info. You own a company yes ? Can this be done part time? Morg insurance is not residual?
@@TheDIGAgency also if you leave the carrier I assume you would lose the residual income?
Hi Lynda - yes, I operate a national agency where I recruit and train agents (new or experienced) to become top producers in final expense, mortgage protection, annuity sales, and Medicare Advantage. Part time is fine, and most life insurance products are not renewal-based but first-year commission based. In my organization, you'd keep your renewal income, but that is certainly not the case with many agencies.
Is comedian Theo Von related to you? 😂
People say I look like Tom Brady.
buzz buzz 😊
Tom Brady
How do you drive to 15 appts in a day and make it on time to all?
Ah! Just answered at 24:30-ish.
No problem =)
It's amazing what you can do under time pressure and a little appointment-setting creativity.
Where,? What about traffic,?? Humanely IMPOSSIBLE.!!!
Respect your expertise but if you have 20 leads even $50 leads from direct mail no way you get appointments with 10 of the 20. How is this done when people don’t answer phone, text or email. Not all of your leads are going to have all that info and if it does not all are accurate.
The game changer for most is door knocking the leads that don't pick up =).
11:40
Thanks - key point in the video.
Hi Dave. You're doing a tremendous job on your channel. Congratulations. I have a very simple question and I'm sure you already addressed it. I haven't had time to search your content for it. I use to sell life insurance over 20 years ago and bombed. Exactly where and how do you come up with prospects? I plead complete ignorance. When I ran out of relatives I was done. I went forward with another career but after losing my father two years ago I see a serious need for people to have it and I wouldn't be opposed to getting back in the biz if only I could see clearly how to fill up an appointment book. Thank you sir for your time and help.
Hey Mr. Artist. Great question. In final expense, we train agents to utilize direct mail to generate leads. This allows you to generate a predictable flow of leads on a weekly basis, while also allowing you to scale your activities if you so choose to.
The same model can be used in mortgage protection sales, Medicare Supplement sales, and annuity sales.
Feel free to drop a line if I can help with anything else. Always happy to assist.
And thanks for your kind words.
Kinda inflated numbers. To close 1 out of every 2 and to only have a 10% laps rate are world class numbers
Let me clarify in case I inadvertently confused you. 1 out of 2 refers to presentations completed, *not* number of leads. You should close 1 out of every 2 appointments if you want to be a good agent. If you were closing 1 out of 2 leads, congrats, you are the Michael Jordan of insurance. Regarding the lapse ratio, not sure where you got that. Definitely not the case for most final expense agents. But it will vary depending on the product sold (Medicare, final expense, mortgage protection, etc.). For FE agents, an 80% first year persistency is solid and commendable.
40=8/day
Right =)
Are you talking about $10000 a week in commission or $10000 a week in premiums wrote
Either or. Net income should be fairly close to total production at this level of production. And if it's not, simply scale up more to hit $10,000 free and clear after costs weekly.
@@TheDIGAgency Cool!
How could you do an appointment every 45 min.? I guess you were on the same street. ?? Often takes at least 1/2h to 45 min. to get to another place.??? I love your presentations... learning from them,,, but please,,, DO NOT EXAGERATED.! You loose credibility...
Hi Julieta! I remember when I felt EXACTLY the same as you.
Here's how it's done in detail:
Start time: 8AM - End time: 7 or 8.
Appointments every 45 minutes: 8, 845, 930, 1015, 1100, 1145, 1230, 115, 200, 245, 330, 415, 500, 545, 630, 715 (Total possible appointments = 16).
Book using the "Cable Man" approach: More detail here - czcams.com/video/GbJiuOQvrlE/video.html
Odds are high that 25% to 30% will no show. So figure you'll get porched by 3 to 5 appointments.
For me, 40% or so are disqualified. That takes me 10 to 15 minutes to do that. So I'm out the door fast.
For the remaining 60% of appointments run, I'll close. Average length is 35 to 55 minutes, depending on it it's a single person or husband/wife deal.
About a third of the time I'll actually get AHEAD of schedule and finish the day early. This is working in rural areas in the South, to boot.
You'll find that by putting the pressure on to run a ridiculous number of appointments, that you'll cut out the unnecessary parts and focus more heavily on figuring out as fast as humanly possible if the prospect is qualified or unqualified.
Lastly, I have an agent doing just this now. He's 22 and approximately a year into the business. He wrote $51,000+ in final expense business last month off of around 80 or 85 policies written. Watch the interview here: czcams.com/video/ow_IfVTb3rU/video.html
@@TheDIGAgency Ok... I understand,,, No traffic.! Almost, like in the same street. How did you handle the clients.?.. They talk a lot, ask, comments, etc.,etc. I (myself) cannot see how to do the meeting that fast... By the way,, I live in Montreal, Canada;. really appreciated any comments or suggestions (a Video) for The Insurance subject here. It's very different than in USA,, actually in QUEBEC is completely different than any other province of Canada... Thanks a lot. 🌹🙏
Hi Julieta - it definitely takes time to get to that level. I didn't accomplish that type of activity until 3 or 4 years in. Some can do it faster. Those Quebeckers are a special group =)
@@TheDIGAgency Too special.! They like to be call "distinct society". So, you go figure... Not easy... Everything is more complicated in QUEBEC.!!!😏🤔😒😣🧐
Not for me. All face to face. Although running them over the phone, I'd think is very possible.