Question from newbie about situation

[Cheech]

I recently got my licence to sell life and health insurance. After working int the mortgage industry.

I signed up with a company that markets to seniors, mid to lower level income. They use about three different carriers to use.
They company provide 3 days in house training, and then a week of on the field training with a seasoned agent. This is all provided with no pay.
They also provide 35-40 leads per week.
The first 12 weeks the agent is given all reworks and they are provided at no cost. Commission is 50%.

So I recently was given the rework leads, and they were all from 2003! I worked them as hard as I could got 4 appointments out of them, and did a bunch of door knocks, and was able to sell one policy.
I have no problem doing reworks (i was mortgage broker for 5 years) but don't you think be given leads from 4 years ago is ridiculous.??

When I confronted my manager he said not to look at the date, because that will hurt your selling ability.

I really like working in the senior market, and was wondering if any one had any suggestions where to start off their and if going captive anywhere is a good idea?

Thanks

 

[senior-advisor-indiana]

The date doesn't matter. Just tell them you have a lead they sent in and you have been trying to reach them. Or say you spoke wiht them in the past and was wondering if anything has changed.

 

[InsuranceJosh]

What all do you sell and though whom?

 

[Cheech]

I work for a company called diversified, essentially they are a marketing company with final expense. We work with 2 companies columbian, and penn life. Also ACA.

They also appoint you through evercare for med. supps when they feel you are ready.

They give us a commission split of 50% and hold onto 75% of it. We get the other 25% on the 9th month.

They give you free leads the 12 weeks, then charge you leads after that.
Depending on your performance lead cost is usually around 15$.

The leads I have received have been 4 years old, do you think I would be better off going directly with company? and buyng my own leads such as a Lincoln Heritage for ex.?

Any thoughts would be appreciated

 

[Survivor]

senior-advisor-indiana:
You are probably, much, much more experienced and successful than me in this business, but I must disagree. The old name is better than nothing, but it's far from what I'ld call a lead. If my manager gave me those, I'ld certainly let her know I was unhappy with it. Better than nothing, though. I'ld call it deceptive if I was lead to expect 35-40 HOT leads.

BTW, I remember reading somewhere than you can't go door to door marketing senior health products. Double check this though, as I could be wrong and it could just be my state.

 

[Frank Stastny]

senior-advisor-indiana:
You are probably, much, much more experienced and successful than me in this business, but I must disagree. The old name is better than nothing, but it's far from what I'ld call a lead. If my manager gave me those, I'ld certainly let her know I was unhappy with it. Better than nothing, though. I'ld call it deceptive if I was lead to expect 35-40 HOT leads.

BTW, I remember reading somewhere than you can't go door to door marketing senior health products. Double check this though, as I could be wrong and it could just be my state.

Without years of experience working in the senior market how can you disagree? Is it just your "gut feeling"?

Senior is absolutely correct. There is no such thing as a "hot" lead unless the company is doing TV advertising and has a toll-free number for people to call. That is a "hot" lead, everything else is simply a name and phone number that you have paid a lot of money for, the same information you can get by purchasing a list.

I routinely sell Med Supp policies to people I originally contacted years ago. However, to be able to do this you have to have a way of keeping track of all of your prospects and literally have all of them at your fingertips. Ask Senior how he does that.

Everyone's situation is constantly changing. The prospect who told you they weren't interested 12, 24, 36 or even 48 months ago may be willing to send a cab for you today if you can save them money.

Do the research! Don't "assume" anything unless you have gone to the source. You will find out that there are no restrictions on selling Med Supp policies nation wide. The only restrictions there are apply to Medicare Advantage Plans.

 

[djs]

Leads over 90 days old need to be verified through a do not call list. Beyond that, you have a name and a number that at least at one point belonged to someone who was interested in the product, absolutely better than nothing.

Dan

 

[senior-advisor-indiana]

I keep all my old leads on 3x5 note cards and file them away. HAHA, just kiddin.

I use YIO to keep old leads. It is the best thing you could have. I will let everyone here know how much money I make in november from oranizing my leads in YIO.

Anyway, I have made plenty of sales off of old leads. I door knock those. I am better at door knocking anyways. I would much rather have a new lead but it really does not make that much difference. I ordered leads a couple months ago and 90% of the 10 I got back I could not save any money on thier supplement. Thats because they had MA plans paying $0. The mailer I sent to them said " send this card in to save $300 or more on you supplement" or something along those lines.
I guess these people wanted insurance companies to pay them money. I did put them in YIO and are switching thier MA plan in Nov though.

 

[somarco]

say you spoke wiht them in the past and was wondering if anything has changed

Like maybe they died?

 

[Cheech]

About 25% had died, another 25% didn't live their anymore, I also got alot of not in service, in nursing home, etc. etc.
alot can happen in 4 years

I do agree that it is better than nothing, and I did get a sale out of one of them, but when they told me reworks I was thinking atleast within the last 2 years.

Its tough when you didn't have paid training, and they promised you 40 leads per week, and thats what I got.

I guess I should not complain though