Day In The Life: 6/18/2012

Activity for today

I made several calls this morning to find a life insurance company that will insure life contingent structured settlements.  I have 2 brokers lined up to send me business if I can find a carrier.  Looks like the market has dried up.  My IMO can’t find any so I called a few settlement brokers like JG Wentworth to find out who they’re using.  Each broker I called said they aren’t doing any “life contingent” structured settlements.  It’s probably why these “smaller” brokers are contacting me – they are getting a ton on requests but can’t process them because they need to have life insurance in place.  If just one life insurance company started writing this coverage, they would get a FLOOD of applications.

Monday 6/18 connected prospect calls.

Call #1:
Referral called me asking for non-med term for 10 years at $50k – needed it quick so didn’t want an exam.  No health issues.  He’s 67 years old.  Couldn’t go Fidelity or Assurity because they only write to age 65.  Had to quote Americo’s HMS non-med product.  Unfortunately Americo doesn’t have a 10 year and had to go 15 year.  The rates didn’t make sense for him.  No app, no follow up.

Call #2:
Website lead from over the weekend.  She spoke with 2 other agents and no one would write her husband because he has dementia.  He was diagnosed just over the weekend.  I quoted $10k graded coverage with a 3 year waiting period for $61/mo.  She was happy to get “something”.   I don’t run non-med through EZlife, so I emailed the application and she said she’ll get it back to me by tomorrow.  App out for $732 AP.

Call #3:
Website lead.  She requested e-mail correspondence from my website.  We exchanged e-mails throughout the morning and believe her to be a motivated buyer.  I recorded her quotes with Camtasia (screen share program) and sent them to her via  I wanted to actually SHOW her I’m giving her the best rates on the market for a preferred smoker so I showed her the quote engine results and explained why I’m recommending the specific company.  This also puts a face and voice behind the email.  She loved it.  Quoted, will follow up.

Call #4:
Call from an email campaign to a 60 day old website lead.  Her husband passes away recently and she wants $15,000 burial policy.  No health issues. Supposedly there was a survivorship rider on her husbands policy that will give her coverage for $1450 annually.  She wanted to compare that.  I used a final expense quote engine to find Foresters would offer her the best rates at $1272 annually.  She said that Colonial Penn will give her $15,000 for $900 annually.  I asked her to ask Colonial Penn if that was guaranteed level or if there were any waiting periods on it.  I’m no FE expert, but it sounds way too low.  She’s going to check on that and call me back (which really means I’ll follow up in 2 days).  Quoted, will follow up.

End of the day I received 3 referrals that need life insurance to secure a loan.  I’ll call them first thing tomorrow.

Spent about 2 hours helping other agents with sales and their cases.

Marketing work:
I’ll write and finish a guest blog post to generate some links to my website before I leave the office.

That’s it for today.  4 sales opportunities and 1 sale.  Mondays are usually busier than this, oh well.  This is my exhausted end of day face.