3 Tips to Help You Find Quality Life Insurance Leads
August 10th, 2010 | 
Author: 
If you are a life insurance agent, then you no doubt already know that the hardest part of an agent’s job is getting business. Some agents rely on the tried and true method of cold calling. Others take advantage of newer approaches like online lead generation. The truth is, there are any number of ways to increase business and get new life insurance leads. You need only take the time to find yourself some new life insurance leads. Here are three ways many insurance agents get new leads and make more sales. Many agents rely on one or more of these methods. Some agents prefer one method over all others, while others use them all equally. Regardless of what you currently do, if you need to increase the number of leads you have, trying one of these approaches is sure to help. The first method you should try is to exhaust your personal network. Networking is essential in the sales industry, and life insurance sales is no different. Talk to your family and friends and see if they can refer anyone to you. Next, talk to your current clients and past clients to see if they could make any referrals. Not only does this increase your number of leads, but it could lead to more sales with your current clients. You can also consider sending out mailers to clients, although a personal phone call offers many advantages. Another method that is becoming quite popular, is to let someone else find the leads for you. Indeed, there are several companies that specialize in collecting life insurance leads. They collect these leads specifically to sell them to agents like you. They can provide you with as many leads as you like, and generally the cost is very reasonable. If you need a boost of leads, this is perhaps the fastest way to get them. Some of these online lead providers even offer free life insurance leads for you to try out before you purchase from them. One of the oldest methods of insurance lead generation is cold calling. This is an essential skill that any agent should have. It is true that cold calling isn’t the most efficient means for finding leads, but it can be effective, especially if you are out of other ideas. The key to effective cold calling is to know what you are going to say ahead of time. Take the time to write out a script to help you when you make a call. You only have a few seconds to make a first impression and get a person’s attention, so make it count. With these three methods you are sure to boost your number of life insurance leads in no time. You might find you like one approach more than the others. If this is the case, then stick with it! You’ll have all the business you can handle in no time.
Watch the video related to life insurance
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Help answer the question about life insurance
What exactly is life insurance and how does life insurance work?What exactly is life insurance and how does life insurance work?
I don't understand, won't you be dead or something so what does it do for you?
What happens if it doesn't get cashed in, what does that mean?
Sorry I don't understand, please explain.
Posted in Life Insurance | 
Tags: 101, financial, flash, foundation, free life insurance leads, happens, insurance, insurance leads, life, life insurance lead, life insurance leads
There are two types of Insurance; Permanent and Term.
Permanent Polcies remain at the same monthly cost for the rest of your life.
Term policies remain fixed for a set number of years. After the set number of years the policy either terminates or can be rewriten for the same length of time, but you'll now be evaluated at your new age, not the age you are now.
Permanent Policies are similiar to buying a home. The policy builds Cash value and could potential increase your death benefit. You can take a loan out against your own cash value or should you cancel the policy at a later time, you will get the cash value paid out to you at that time.
Term policies are like renting. After the set term (5, 10, 20, 30 years) each party walks away. You don't get any money back, but you'll have paid less over the course of the 10 years.
If you were to get a 20 yr term policy now, at age 50 your policy would end (unless you had already died). You could then get another policy, but they'd rate you as a 50 year old, not a 30 year old. and at each of these 20 year renewals, you'll have to go through medical screening again.
If you were to get Permanent Policy now, you'll have a higher premium now, but at age 50 you'll still be paying the same amount as you are now. At age 70 you'll still be paying the same amount as you are now. At age 90? Same amount.
To figure out how much coverage you'll need, here's a handy tool: L.I.F.E.
L: Liabilities: mortgage, car note, student loans, credit cards
I: Income replacement: 5 to 10 times your annual income (though in your case, each of you have another 30-35 years working life in you, you might want more)
F: Final Expenses: Typically $10-25 k
E: Education: Education for your spouse, should they need to change careers to maintain their standard of living after you pass and/or college tuition for any childre you may leave behind.
So, with a $200k mortgage, $25k car loan, and $15k Student Loan, your "L" is $240k.
If you're making $50k annually, you'll need $500k for "I."
Let's call "F" at $15k
"E"? Well, 2 kids at $20k per year for 4 years each translate to $160k.
This mean you'll need $915,000 worth of Life Insurance.
I have my Life with State Farm. It's also giving me a discount on my car insurance.
There is no difference. Someone is going to pay the premiums to get you covered, either you or your spouse. You will be subjected to medical exam and be asked some health questions to find out what your rate is.
If the life insurance company does it, you can add yourself as a "spouse rider" to your primary's policy to avoid additional policy fees.
Allstate is by far the best. They are ranked in the top 50 employers book.
Basically insurance only works when a large groups of people own that particular insurance. Everyone pays to protect their income, but not everyone is going to use their insurance. So that's how basically insurance companies stay in business, unless something extraordinary has happen in this country where there's lots of people are filing for claims and the insurance company can't pay them all (such as the Hurricane Katrina event).
What is whole life insurance?
1) Its a level term insurance to a specified age (usually to age 95, 98 or 100) plus cash value.
2) It is very expensive when compared to term insurance
3) Cash value grows at a very low rate of return. In the first 10 years, you see a negative return on your money. But long term average is anywhere between 1-4%, depending on the company.
4) If you want to take money out, you have to borrow it and pay loan interest of 5-8%.
5) If you die someday, the insurance company pay the face amount of the policy (minus loans and missed premiums) to the beneficiary, but they keep all the cash value.
6) If you do get to live by the end of policy date (when you around age 100), the insurance company pay you the cash value, but you lose the insurance.
There's only one reason why that agent is trying to sell you whole life insurance: MONEY!
Next thing you'll know, that agent would try to sell you universal life insurance, a product that is more horrible than whole life, but it pays out more commissions.
Go with your instinct and find a different company who would listen to your needs. Try this site
http://free-best-life-insures-comparator-usa.blogspot.com/
Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.
You may want to try a website that compares multiple companies at once to get you the best price. I am paying less than ½ after I did.
http://top-usa-health-insurance-comparator.blogspot.com/
Take care,
Tena
@MegaJohnShaft read what ???
@probslpwtyormama-go read it yourself. Its a simple concept. Good luck.
And another person steps in to admit they dont know what their talking about. First step to correct a problem is to admit you have one..any way. If you are a person trying to decide on Life Ins and reading all this, you are probably confused. I can only hope you have noticed how closed minded term agents are. Not to mention rude and disrespectful.
Agencies make their money from First Year Commissions (FYC) on new policies, and renewal commissions and service fees on policies which have been on the books beyond the first year.
If an agent works for an established agency, he/she will get paid a percentage of the total FYC. The total FYC could be anywhere between 40%-120%, depending on the insurance companies the agency represents, and what type of policy is being sold. Health policies pay a lot less than life insurance policies.
Of the total FYC, the appointed sub-agent would receive anywhere between 50% and 90%, depending on the sub-agents contract with the agency. Most agencies will pay advance commission on 75% of the sub-agent's FYC.
Example:
Let's say that the sub-agent writes a life insurance policy, and the annualized premium is $1200. ($100.00 per month). Let's assume that the agency's FYC is 100%, and the sub-agent's FTC is 80%. The agency's FYC would be $1200, and it's advance would be $900 (75%). The sub's FYC would be $960, and the advance would be $720 (75%). The balance would be paid as earned on the final 3 last payments of the first policy year premium. If the total ANNUAL premium was paid initially with the application for the same policy, it would be a little less than $1200, around $1162 give or take. ALL FYC would be advanced in this case.
Once the policy is in force for 12 months, renewals and/or service fees will be paid, 2-20%, depending on the carrier, and the sub-agent would get his/her percentage of that. (I had a company that paid $100% FYC and 20% renewals)
Some companies pay bonuses, based on your total production and persistency rate, the percentage of business that stays on the books.
If you work for an insurance company as an employee/captive agent, your commission rate will be somewhat less, but your benefits will make up the difference, such as company-paid retirement, 401K, health and life insurance. In this case, your commissions would be put in a commission pool, and you would draw from that on a weekly or bi-weekly basis. When you initially start selling for one of these companies, you are on a guaranteed salary for a specified period of time, while you build your commission pool. Some of these types of companies will guarantee your salary, (based on production quotas), for up to three years, on a depreciating basis.
After the first year, you start earning renewals/service fees. Let's say that over time, you build up your book of business to $500,000 of life insurance annualized premium, and your renewals are 3%. Your base pay would be $15,000, plus your FYC and bonuses.
Some of the captive companies will offer you an established book of business, with renewals and service fees. It's possible to be offered an agency which is paying $300-$500 or more per week, which would either go into your commission pool, or be paid as part of your initial guaranteed salary. If you are assigned to an existing book of business, you have all those policyholders as potential prospects for new business, along with their family members and other people they know.
Here are some names of companies that have guaranteed starting salaries: (Not in any particular order)
New York Life, Met Life, Monumental Life, American General, American National, Western-Southern Life, Prudential, Liberty Life.
These guys are great and note when this was taken – March of 2007 – way before the crash of ’08!!! How’s those buy term and invest accounts (which don’t exist) doing now?
So here is some advice: #1 Dont trust anyone that only pushes one type of insurance, one size DOES NOT FIT ALL #2- stay away from anyone that tries to tell you what you need or should do without knowing your exact goal and situation first. That kind of person is only after a commission and doesnt care about you
@probslpwtyormama — the buy term invest the diff is what those policies do for you. The great thing is its all in one. AND TAX FREE. Im off to work now, I hope it was clear and people understand the difference.
The following site will give you a free side by side comparison quote of the best companies. It is free and easy and then you can make an informed decision
Life insurance is insurance on your life. If you die the insurance company pays money to your beneficiaries. they could be family, friends, the company you work for even a charitable organization. as long as there is an insurable interest.
If you are dead the money from the insurance can pay for your funeral, your debts, mortgage, medical bills, car payments, children's college education, your families survival if you are no longer here to provide for them, as well as pay for inheritance taxes, probate taxes (life insurance is tax free)
if you are single, no family, no responsibilities and don't mind being buried by the state then you probably don't need life insurance. Try this site to find the best life insurance
http://best-life-insurance-usa.info/
Here you can get quotes from different life insurance companies in your area, its the best way to find an affordable life insurance with a reliable company.
Hope this help,
An excellent video to watch if you want to learn something is MISSED FORTUNE- DOUGLAS ANDREW: LOCK AND RESET vs THE MARKET Its 3:20 long and he does a fantastic job explaining the IUL. Its a very broad explanation because diff comp use diff indexes and credit you diff %. Everyone have a great Easter weekend!!!!!!!!!!!
You can't do that without his concurrence. HE should be the one getting the policy.
@dkfrsh way to explain bullshit cash value agents.
@dkfrsh do you now how you can tell a whole life agent is lying? they are posting !!