Signed With NYL....1st Month = Success

[Chazm]

So if you only got 1 sale from your project 200 where did you get the rest of your sales from?

That is really good for your first month though if true. I think it took me 5 months to earn that!

 

[RyanCO]

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Good luck SIM, you picked one helluva company. And it sounds like you're doing it right:

Listen and learn. Ask questions. Learn from your mistakes. Follow the training. Do what they tell ya, no matter how boring or lame. Learn the products. Know the systems like the back of your hand. Know the competition better than the competition does. And then listen some more.

Sounds like you're doing all of the above. Good for you, please keep us up to date.

.

 

[SIM ANTIC]

So if you only got 1 sale from your project 200 where did you get the rest of your sales from?

That is really good for your first month though if true. I think it took me 5 months to earn that!

Like I said I have a household name in my current city of about 400k plus people. In that city my family has owned and operated a mechanical contracting company for over 55 years. The last name holds a lot a value. So to answer your question, a lot were employees and clients I have already dealt with on a professional level. Only now my services are transitioned into the financial world.

 

[GreenSky]

Do they pay you on the policy fee? I understand that some agents are upset about companies that don't.

Rick

 

[SIM ANTIC]

Do they pay you on the policy fee? I understand that some agents are upset about companies that don't.

Rick

I get paid as soon as the policy is issued.
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I get paid as soon as the policy is issued.

For example I had a 40 yr male looking for 20 year term. He told me his budget was 100 dollars a month. I did an analysis and found the 700k would properly cover him....the monthly rate was around 190.77. In order to get down to his budget I only wrote him for 15 year term @ 250k coverage. The reason I went down to 13 is because his youngest child of 4 was 3 years old. At 15 years she would be 18 and able to fend for herself a little more than she can now at 3. He was happy that I made it work for his budget. As soon as he gave me the 100 dollars and I sent in the app....I got paid. All in all it took about 6 days for me to get paid...prospecting to closing the deal.

 

[GreenSky]

For example I had a 40 yr male looking for 20 year term. He told me his budget was 100 dollars a month. I did an analysis and found the 700k would properly cover him....the monthly rate was around 190.77. In order to get down to his budget I only wrote him for 15 year term @ 250k coverage. The reason I went down to 13 is because his youngest child of 4 was 3 years old. At 15 years she would be 18 and able to fend for herself a little more than she can now at 3. He was happy that I made it work for his budget. As soon as he gave me the 100 dollars and I sent in the app....I got paid. All in all it took about 6 days for me to get paid...prospecting to closing the deal.

Others will give you advice on what they would have done but you covered this guy for the price he could afford. I suspect he will need coverage after the kid is 18 but that's why you now have a client, not a customer.

You done good.

Rick

 

[SIM ANTIC]

Others will give you advice on what they would have done but you covered this guy for the price he could afford. I suspect he will need coverage after the kid is 18 but that's why you now have a client, not a customer.

You done good.

Rick

Thank you sir. I don't think I could have put it better. Good luck do you in the future.

 

[BNTRS]

Wait what? Is there a typo or am I reading this wrong? Or is the guy rated like table 8?

$190/mo for 700k on a 40 y/o?

700k at standard is 87-88 for most of the well known term companies for a 20 year term policy.

As soon as he gave me the 100 dollars and I sent in the app....I got paid.

That's cool. But what happens if he decides not to take the policy? You get unpaid. Just keep that in mind about these super advanced commissions the career shops promote.

As for everything else, congratulations and good luck. And if you ever need anything in terms of additional advice/guidance don't be afraid to reach out.
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Do they pay you on the policy fee? I understand that some agents are upset about companies that don't.

Rick

I literally LOL-ed at this.

 

[Focus LTC]

I get paid as soon as the policy is issued.
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For example I had a 40 yr male looking for 20 year term. He told me his budget was 100 dollars a month. I did an analysis and found the 700k would properly cover him....the monthly rate was around 190.77.

Wow!! That is VERY expensive...

Remember that NYL is not loyal to you. They may say they are but at the end of the day business is business. Your loyalty should be to your clients and your clients only.

Having said that, you did a disservice to the client. If he drops dead next month his family will be short $450K. Most players in the term business can do 40yr male Non-Tob STANDARD $700K 20yr for $105-$115...

Are you going to pony up the extra $450K when his youngest gets accepted to Harvard???

Who did you really help in this transaction?
1) You got a crummy commish
2) Your client got shorted 5 yrs of coverage and $450K in coverage that he could easily get elsewhere...
3) NYL gets away with charging ham price$ for bologna

Looks like NYL is the only winner here.

When your clients go online and get other life quotes (and they will), your "good name" and your "good reputation" will turn to rubbish...

How do you feel about NYL Now???

 

[BNTRS]

Now tell us how you really feel.