FUNERAL INSURANCE: PREMIUMS VS BENEFIT

Perhaps the biggest challenge to anyone working in life insurance sales is to have a steady flow of leads coming in. Without people to see, life insurance agents are essentially out of business. By making use of a variety of lead techniques on a consistent basis, agents can help ensure that they will keep the sales coming. Some techniques require no outlay of money but do require a bit of networking and research.

Instructions

• 1

Make a list of friends, relatives and business acquaintances, then begin to contact them. People you know can be an excellent source of prospects and leads. While not all of them may have an immediate need for life insurance, in many cases they can tell you about someone they know who could be in the market.

• 2

Join local business associations, such as the Chamber of Commerce and begin to network with other businesspeople with whom you can forge a reciprocal relationship. For example, a real estate agent could steer you toward people who have just bought a home and have a need for life insurance. In return, refer your clients to the agent when they are thinking of selling or purchasing a home.

• 3

Check the newspaper and make a list of people who have recently had life-changing events, such as a marriage or the birth of a child. This is a time when people begin to consider their life insurance needs and are often in the market to purchase additional amounts. Visit the local courthouse and obtain a list of people who have recently bought or sold homes.

• 4

Subscribe to a sales lead service to help you find potential clients. Websites, including Salesgenie.com, allow you to search their databases for a monthly fee. Use the filters to pinpoint potential clients by criteria such as age, income and home value. Be sure to use the filter that tells which people are on the Do Not Call Registry if you plan to prospect by telephone.

• 5

Ask new and existing clients for a list of referrals. A satisfied client is also your best source of leads. In some cases, a highly satisfied client may even contact their friends or family members for you. Establishing a strong referral pipeline can minimize the amount of cold calls you have to make, giving you more time to sell instead of prospect.

Tips & Warnings

For the best success, agents should use a combination of techniques and not put all their eggs in one basket.

You can get good pre-qualifed leads by asking some simple questions. First, start with people YOU know; members of your family, church, club, other associations, neighbors, friends, grocer, gas station attendent, etc. Then, go with people THEY know. "John, I love my job as an insurance representative. The thing I like most about it is the opportunity to meet people and make new friends, and to help them in providing a more secure future for their families"."Let me ask you, Who do you know that just got married?""Who do you know that just bought a home?""Who do you know that just had a baby?"".....that just got a new job or a promotion?"".....that would want to continue to provide for their family if they died or became disabled?"".....that has a bank CD and would like a better return on their money?" If you ask who they know that needs life insurance, you won't get any names. Nobody know anyone who needs life insurance. The names you get are called referred leads. ALWAYS, ALWAYS, ALWAYS ask for referred leads, then prequalify each one with as much information as you can get from the referrer. Example: "You say "Bob Jones"? How long have you known Bob?""What's Bobs address? Phone number? Is he married, have children (Get wife and children's names) What are their ages? What kind of work does Bob do? Is Mary employed? What does she do? Do they have any hobbies?, etc. The more information you can get, the better. The more prequalified they are. When you call a referred lead, say, "Hello, is this Mr. Jones?""Is this a good time to talk?" The reply might be, "What's this about?" You could say, "My name is Bill Brown, and I represent the XYZ Life Insurance Company in your area. Your name came up in a conversation I was having with a mutual friend, John Johnson. I told John that I would like to meet you and your family. John tells me that you like to fish. That's one of my favorite sports. Maybe we could go fishing together sometime soon.""My company offers a service called Financial Need Analysis (FNA) (Or whatever your company's total needs selling program is), and I would like to get together with you and your wife and provide this service to you FREE OF CHARGE , and WITH NO OBLIGATION. This will help you determine in your own mind if your family will be adequately protected, should something happen to you. Even if it's determined by the FNA that you don't currently have a need for additional coverage, it would be nice to know, wouldn't it? (Minimize the need for additional insurance while on the phone.) I know you're a very busy person, but would Monday at 7:00 be alright, or would Tuesday at 7:30 be better for you? Here are a few ideas for you. I wish you much success.