Week 2 is in the books!
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 2 results, followed by total results over 2 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.
Week 2 Commentary
Norfolk’n Chance came out SWINGING with 14 submitted applications last week and is closing in on 1st place.
Our overall leader – Howard Stern submitted 11 apps and is proving to be an application machine week in and week out. $48k submitted in 2 weeks?! – You are a sick human being.
My Boy Blue had 7 applications last week and submitted the most Banner business – well done! I Drink Coffee also had 7 apps and a very nice week.
Where the heck did Red come from? Wow. 6 apps for $14k in premium – great job.
Everyone is posting some good production and it’s exciting to track this – I hope it’s motivation for some of you.
I’m Victorious Secret and submitted 3 apps for $6800 in premium.
For training purposes, I’ll go over my 3 cases this week. As I explained earlier, I’m only working referrals so I’ll explain the source of these:
Case 1 and 2: This was a referral from a personal injury attorney. An 8 year old kid was hurt badly in a freak horse riding accident – leaving him paralyzed from the neck down and now he’s 100% dependent on his parents care. The bright side was the family got a massive settlement to care for him and he’s set financially for the rest of his life IF his parents cared for him to a certain age. So we purchased a policy on both the husband and wife for $1.5M each – paid for out of the child’s conservatorship to make sure the child can live a comfortable life if something happened to one of them. So the owner, payor and beneficiary of the policy is the conservatorship. These are both healthy people, so there were no impairments to speak of. This was a total of $6200 AP between the 2 of them.
Case #3: This was referral from an SBA lender I have a relationship. This guy needed a 10 year term for $150k to start his flooring business. Had mild asthma which wasn’t an issue with Fidelity. We applied with Fidelity and he was approved within 24 hours. 48 hours after that, I emailed the lender the collateral assignment form and policy. He loves when I do that. Everyone gets paid quicker – the SBA lender, our client…and me! $600(ish) AP
Make sure you visit these 2 websites summaries as well:
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 11 apps their way this week which is an easy thing to do since they’re so competitive in most situations.