For week 1 and 2’s recap, please click “Sales Challenge” under categories.
The point of recapping my apps is for training purposes. Hopefully you can get something out of them.
I had 4 EZlife/Fully Underwritten Cases and 3 Simplified Issue cases this week.
EZlife Case #1
Website Lead. This guy called me asking for my pre-qualification services I advertise on my website. He had a Table 2 offer from Ameriprise and thought he could do better. We played phone tag and I emailed him and asked him to fill out my prequalification form. He did, without ever speaking with me (I scratched out the personal info).
I “quick quoted” a few carriers he was interested in and all of them came back Standard. We applied at Standard with Banner for $56/mo. Not a big application, but he plans to convert within 3 years. Banner lets you convert to any of their UL’s within 5 years, so we were good to go. App out for $672.
EZlife Application #2
Website Lead. This guy called me and has been declined previously. He was a type 1 diabetic, injecting 2 different meds 3 times per day. Diagnosed at age 6 and a1c’s in the 5.4 range consistently. These cases are so tough…almost everyone declines these. However, we’ve been having a lot of success with MetLife for type 1 diabetics under control that were diagnosed young. I quoted him Table 6 MetLife (based off of previous approvals) at $137/mo. for $250k 20 year term. He didn’t even balk at the price. App out for $1644.
EZlife Application #3
Referral. This guy needed $50k for 10 years to secure a loan. He’s an ex-police officer who busted his knee and takes hydrocodone and celebrex. He’s currently an “insurance denials rep” which we got a good laugh out of – so he’s employed. I quoted Table 2 rates because of the hydrocodone. It could come back Standard. Even at the T2 rates, is was cheap. App out for $312.
EZlife Application #4
Referral. This lady needed $50k to secure a loan as well. Said she was perfectly healthy, but when I asked her about meds, she takes Welbutrin for depression and Mirapex for restless leg syndrome. Supposedly depression runs in her family? (not sure how that happens). Anyway, did a non-med Transamerica applicaition for $50k. App out for $444
Premium Submitted with EZlife this week (fully underwritten apps): $3072
I also took 3 Fidelity Life non-med applications for $1113. All 3 are already approved and in force! I love when that happens. 2 were referrals and 1 was a website lead. The website lead was a young guy who wanted the best rates available, but didn’t know about non-med policies. I told him about them and even though it was $75 more expensive annually, he liked the convenience. Sometimes all you need to do is bring non-med up.
So this week I did $4185 in annual premium which is above my weekly target of $4000 (barely!). I was hoping for a better week, but I have some people dragging their feet and some avoiding me. It’s all part of selling life insurance over the phone though.
These referrals are picking up. I like them because they’re slam dunks and more than half can qualify for non-med, however average case size is around $450 so they’re really small cases.
With no acquisition cost, mostly non-med and EZlife to handle my fully underwritten cases it makes total sense to continue to work these since I’m getting them in volume.
Total Premium apped out this week: $4185 ($1113 already placed!)
Total Premium to date (over 3 weeks): $12,561
I’m still on track to hit $80k over 5 months which is $4,000/week.