- 11,997
I have no problem agreeing with that statement.
Help with Project 200
- Thread starter thenextlevel
- Start date
I have no problem agreeing with that statement.
- 285
There is a lot of well deserved criticism of limra200 here but little , actually none, advise on alternative prospecting methods for the launch of a career. I'd be interested in hearing some of the methods employed by the vets who understandably think little of Limra 200. TIA, Jim
sonofthetis
Expert
What is the protocol for the Project 200? Mine will not include a single family member or actual friend, the rest of the world I consider to be a prospect.
If I have a database of names from the past 2 years of names and info, are these viable names for the list? I have only limited info on the quality of these prospects at all, they all contacted me in my old company for tax preparation and tax strategy advice.
If not those, I have collected hundreds of business cards over the past year for small business owners, mostly in the construction and service industry. Would these be better for the 200? I will certainly contact every one of these as a prospect irregardless.
Also, a question on territory protocol. In my area, they want me to concentrate on one county. It is large, but I have a number of contacts in the one to my south as well. Is going out of territory frowned upon? My DM was not available yesterday when I picked this info up.
If I have a database of names from the past 2 years of names and info, are these viable names for the list? I have only limited info on the quality of these prospects at all, they all contacted me in my old company for tax preparation and tax strategy advice.
If not those, I have collected hundreds of business cards over the past year for small business owners, mostly in the construction and service industry. Would these be better for the 200? I will certainly contact every one of these as a prospect irregardless.
Also, a question on territory protocol. In my area, they want me to concentrate on one county. It is large, but I have a number of contacts in the one to my south as well. Is going out of territory frowned upon? My DM was not available yesterday when I picked this info up.
- 15,041
Ask your manager to be sure, but I believe the Project 200 should be people that would answer the phone if they knew you were calling. It can also include people that you do business with or have done business with you in the past.
As far as territory, that is bunk. Unless they promise that no other agent will work that county, which they won't, then why should you be limited to that county?
As far as territory, that is bunk. Unless they promise that no other agent will work that county, which they won't, then why should you be limited to that county?
- 14,808
Well, now that we have three pages on how the project 200 won't work - let's go over what does work.
Again - will take a bit of heat over this but it is what it is. Health, auto and home are commodities and are easily sold online. The entire process from soup to nuts is rather easy. You need car insurance is you drive, you need health insurance if you have a condition or two but I'm sorry to say, you don't need life insurance. Should you have it? Absolutely but not being able to differentiate that from marketing health or auto will result in a very short life insurance career.
I've heard a lot of about selling life online and buying leads. Funny I don't know I single agent doing it successfully.
What I do know from getting around my chamber of commerce and talking with successful life agents is they are very heavy on local networking and deeply rooted in their community.
Most send out local mailers but readily admit to me that it's more about getting their agency's name out there and less about immediate return. I think if you want a career as a life agent - especially if you're going to focus on perm. products you need to come in with a relatively large marketing budget. I asked one of them about getting more into life insurance about 2 years ago and he recommended a 50K budget.
These guys are in all of my local publications month after month. Some have billboards and almost all have physical locations.
I'm not aware of life agents being able to make it coming in without a budget. It's a relatively hard product to market. For health, you can go BtoB and telemarket but the results aren't there for life.
Life is still about building relationships locally and it's a process of building a business over the years.
Again - will take a bit of heat over this but it is what it is. Health, auto and home are commodities and are easily sold online. The entire process from soup to nuts is rather easy. You need car insurance is you drive, you need health insurance if you have a condition or two but I'm sorry to say, you don't need life insurance. Should you have it? Absolutely but not being able to differentiate that from marketing health or auto will result in a very short life insurance career.
I've heard a lot of about selling life online and buying leads. Funny I don't know I single agent doing it successfully.
What I do know from getting around my chamber of commerce and talking with successful life agents is they are very heavy on local networking and deeply rooted in their community.
Most send out local mailers but readily admit to me that it's more about getting their agency's name out there and less about immediate return. I think if you want a career as a life agent - especially if you're going to focus on perm. products you need to come in with a relatively large marketing budget. I asked one of them about getting more into life insurance about 2 years ago and he recommended a 50K budget.
These guys are in all of my local publications month after month. Some have billboards and almost all have physical locations.
I'm not aware of life agents being able to make it coming in without a budget. It's a relatively hard product to market. For health, you can go BtoB and telemarket but the results aren't there for life.
Life is still about building relationships locally and it's a process of building a business over the years.
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- 11,997
I know several, but it's a lot more work than most folks seem to think it is.
- 385
I had to do the project 200 as well. HUGE PAIN IN THE RUMP! Though, I did it and got all my family/freinds' phone numbers and addresses(great at Christmas time). I did send them a letter stating my new position and that, if they wanted, I would be glad to do auto/home quotes for them. Beyond that, I've not mentioned it to them. If they want a quote, they know where I am and what I'm doing now. As for their addresses...call them and ask. Make sure you're managers aren't going to put them into some huge mailing list, cause then they'll all be pissed at you...not your manager. My managers haven't asked me about the list since I started. Yours may not either.
- 1,271
50K ... that's funny (not you, but the dufus that said that).
I know of NO ONE who sells permanent life successfully that does any of the things he mentioned.
Crap like that will infect your mind. JMO
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- 15,041
Best way to sell permanent insurance, sell lots of term insurance. Convert it along the way or as health changes.
- Thread starter
- #30
thenextlevel
Expert
- 28
Maybe I should have been more clear. I am only putting the list together because it's one of the steps I am required to take. Do I expect any return from it? Not really. My plan is to start cold call prospecting from day one. I have no desire to bother my friends family other than the letter and 1 phone call.
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