Sales Contest – Week 6 Update

From 6/1 – 9/1, there are 9 of us competing for a Mac Book Pro sponsored by Banner Life Insurance.  For full contest rules, click here: 2013-Sales-Contest-Banner.

You’ll earn points for each submitted application, with a total of 10 points possible per application. Points are awarded based on the premium amount, with 1 bonus point available if the carrier chosen is from our sponsor, Banner Life. Points are awarded as follows:

• 6 points for the application for a case up to $500

• 7 points for an application up to $1000

• 8 points for an application up to $2000

• 9 points for an application up to $3000

• 10 points for an application over $3000

Week 6 results, followed by total results over 6 weeks:

We’re all using aliases to prevent being “Google Searched” as we don’t want any clients or even personal friends knowing our business.  Not to mention ruthless recruiters bothering us.

Week 6 Commentary

Howard Stern is absolutely crushing the competition.  He submitted 14 apps for $36k last week and $106k over 6 weeks.  He’s also the hardest working agent I know – go figure.  You are a sick human being.

Norfolk’n Chance and My Boy Blue submitted over 10 apps last week – Great hustle!

Hurricane and Red had great weeks premium wise – Red did almost $19k and Hurricane did $10k.

We’re halfway through the competition.  In 6 weeks, 9 agents have apped out $361,860Pretty freakin awesome when you consider the fact that we rely on our own marketing and not any lead vendors.

My 3 Referral Cases Last Week

A few people have asked me why I’m only working referrals.  It’s mostly because I’m in growth mode and focusing on higher level efficiencies in marketing and systems.  If I were to sell all day, I wouldn’t be able to grow as fast as I am.  With that said, I’ve still submitted $21k in 6 weeks off of referrals only.

For training purposes, here’s a description of my 3 sales:

Sale/Referral #1.  Re-write from January of last year.  She had 6 moving violations in the past 3 years and got a flat extra added to her policy.  I convinced her to take the policy with the knowledge that we’ll lower the premiums in 1.5 years or when most of her moving violations would fall off to not warrant the flat extra.  I had a reminder pop up in my inbox to call her (or else I would have completely forgotton) and she was all about it and thanked me for following up.  Easy application – App Out $1100

Sale/Referral #2:  This was a high risk life insurance referral that got declined from Farmers because of Atrial Fibrillation.  The Farmers agent simply told him to call me.  I had a previous case with mild AFib that got a table 2 rating with Banner, so I went with them again.  I wrote a cover letter explaining that he’s a Taekwondo instructor and academy owner whose in great shape and his AFib doesn’t hold him back at all.  It should be an easy approval at Table 2 with Banner unless he’s withholding some information.  App Out $980

Sale/Referral #3:  This was a referral from a lender where their client needed a life insurance policy immediately to get his money.  Did a quick Fidelity app and it’s already been approved and I’ve already been paid on it.  App out $1250


Make sure you visit these 2 websites summaries as well:

For Pinney’s update on the competition, click here.
For Chris Huntley’s update on the competion, visit his hubpage for the competition.

The cool thing about this competition is every single lead source from the production above are from sources built by independent life insurance agents (websites, media buying, referrals, social media outreach).   Look at the numbers we’re all putting up – it’s all from our own efforts.   So make sure you subscribe to my e-mail newsletter and check out Chris Huntley’s hubpage for how-to’s and other training on how we do this.  We both are publishing tips to help agents in their business.

For those that don’t know – we’re all using Pinney Insurance as our IMO who is tracking these results.   All of the agents in this contest are using Pinney’s EZlife platform.  This allows us to focus on marketing and sales and let them take care of the processing side – application signatures, exam scheduling, case management, underwriting and even retrieving delivery requirements.  I know I couldn’t do it without them.

Lastly – a huge thanks to Banner Life Insurance who is sponsoring this competition.  Looks like we sent 27 apps their way which is an easy thing to do since they’re so competitive in many situations.