Help! Why Can't I Close Final Expense

missingbigbad

Expert
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i began selling insurance (final expense) about 5 weeks ago. i live in colorado and have been unable to get enough local leads. (apparently the co market is weak.)

i started doing telesales in another state. i get plenty of good leads, connect with people, qualify them, and send them applications via priority mail. i call them as soon as they receive their apps. this is where things fall apart.

i call morning, noon and night, but they don't answer the phone. those that do answer the phone usually purchase a policy.

the problem is, no matter how often or when i call, 9 out of 10 will not pick up the phone after they've received the application.

what am i doing wrong?
 
i began selling insurance (final expense) about 5 weeks ago. i live in colorado and have been unable to get enough local leads. (apparently the co market is weak.)

i started doing telesales in another state. i get plenty of good leads, connect with people, qualify them, and send them applications via priority mail. i call them as soon as they receive their apps. this is where things fall apart.

i call morning, noon and night, but they don't answer the phone. those that do answer the phone usually purchase a policy.

the problem is, no matter how often or when i call, 9 out of 10 will not pick up the phone after they've received the application.

what am i doing wrong?

Get under the wings of someone experienced. You are probably doing a LOT wrong. As usual I recommend Hoosier Daddy (Travis Tubbs) There are probably other good ones also but I know for a fact he is legit.
 
Sounds like either a) inadequate qualification, or b) too much pressure to me.
my approach has been pretty simple. i explain the basics, premiums won't increase, benefits won't decrease, can't be cancelled due to age or health... then i ask the health questions, fill out the app for them over the phone, quote the price and ask them if they would like me to send an app.

i explain that i will call them when they get the app, so we can talk to the underwriter and get them approved. if they hem and haw, i don't send an app (or i send it regular mail with instructions to contact me if interested.) i only chase down those who show a high level of interest. my approach is pretty low pressure.

those that i do reach after they've received an application may see a bit more pressure, but not much. if they say they haven't looked at the app yet, which most of them do, i usually say, "that's okay, why don't you grab it right now and we'll finish filling it out, call the underwriter, and get you a policy number." that almost always works.

these folks need insurance. they are often in their late 40's to mid 70's and have no coverage. they seem to realize that they are in a "time-bomb" scenario.

sometimes, i get the feeling that they intend to follow through, but keep procrastinating.
 
i explain the basics, premiums won't increase, benefits won't decrease, can't be cancelled due to age or health... then i ask the health questions, fill out the app for them over the phone, quote the price and ask them if they would like me to send an app.

This is all based on logic. Problem is logic doesn't sell. Emotion sells.

You're missing the most important element: why they want to buy the insurance. Who will they leave the money to? What sort of financial pressure will someone potentially be under if they don't?

i only chase down those who show a high level of interest. my approach is pretty low pressure.

You don't have to "chase down" anyone who has a "high level of interest".

I wouldn't exactly say calling "morning, noon and night" to be low pressure!

these folks need insurance

Doesn't make any difference whether they "need" it or not. Need is NOT a powerful motivator. "Want" is.
 
You can mail me sometime if you want to talk about what we offer agents.

Jim, I'm starting to award a new prize: Spammer of the Month.

You win for May - congratulations.
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Since we are checking up on the basics here, are you licensed in the other state where you started doing telesales?

i am licensed in every state in which i sell.

Can you prove it? ;)
 
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