Hey everybody: it's David Duford here at the final expense, agent mentor and mortgage protection agent mentor, where I help agents like you, succeed in selling life insurance. So today. Article. The topic we're talking about is the 15 reasons why you should consider selling mortgage protection life insurance most likely.
You're on this article because you are considering selling mortgage protection insurance or maybe you do, and you're, just trying to look at different or alternative ways to look at this product and maximize your success in this business.
So let's get right into point one. The first reason I think you should consider selling mortgage protections because this business is a one-call closed. A lot of more exotic products. Take multiple sales calls that take longer fact-finding arrangements and maybe have longer sales cycles.
The beauty of mortgage protection is that it's, a simple product. It's, easily understood by the prospects and ultimately comes down to they want it or not, and so it's. A one-call close, so you can go out there, set appointments, and reasonably expect 90 % of the time that when you make a sale it's, definitely going to occur on that first call.
That means you can run more profitable appointments. More often, you can make more sales quicker with less of a sales cycle. All this is a great reason to sell mortgage protection. Reason. Number two is high commission mortgage protection.
Life insurance offers very good commission levels because what we sell primarily is NaN med, non fully underwritten products. These products generally pay better than fully underwritten products and life in general.
Life insurance in general lees is a first-year driven product. So if you like, the idea of selling a higher Commission product then find mortgage protection will be perfect. For you reason, number three is that mortgage protection, you've, gotten leads in which you can eventually if not immediately, sell multiple types of life insurance to one of the great things about mortgage protection is a consistent effort.
Working this market will lead to you building a clientele in a book of business. You can go back to again and again and again here's. What I mean you may start off the relationship by selling the mortgage protection insurance, but ultimately some of these people are working and will continue to improve in their careers that lis other opportunities like critical insurance sales indemnity products.
Perhaps even universal life is l products annuities final expense products. Medicare supplements there are. A lot of different products. You & # 39. Ll eventually have the opportunity to sell these people if you make the sale and continue to follow up with them in the future, and one of the greatest things about insurance in general is, if you survive in this business, you again you get to work your old Clients again sell the more insurance and then get garner referrals from them.
It makes the selling process a lot easier, especially when you don't have to make sales so great things you have to look forward to selling mortgage protection reasons. Number four is that mortgage protection is a life event-based lead generation process.
This is what makes this product fantastic. So the main reason we target, who we do is because it is based around a large purchase decision. Buying a home is no easy decision. It is a multi-thousand hundred of thousands of dollars.
Investment and many people worry about what happens if they can't make that payment and they lose their house because if they die so the mental shift occurs. When someone buys one of these houses, we call this a life event.
Circumstance and life insurance are really well sold closely based around life events, so you're leveraging. Some really important information within these leads that we work and it allows you to see a much more qualified and emotionally interesting prospect that would be interested in a life insurance type of product, like what we sell is mortgage protection specialist.
The other thing about mortgage protection and point number five: is you get multiple case opportunities, and what I mean by this is that many of the people you're gonna be seeing are spouses their husbands, their wives.
They're married. They & # 39, ve got kids and it's, not just the breadwinner per se. That needs a life insurance policy, many people are and, and both parents are working, both spouses are working both are going to need life insurance because, if one dies it certainly will affect the other, even if they make a little bit of income.
So this gives you a great opportunity to not just sell one policy, but a multitude of mortgage protection policy. Point number six is that mortgage protection sales are a lead driven business. This is great because you, don't, have to cold-call for more protection.
Business, you can there's, ways to do it, but most agents prefer to purchase, leads, set appointments, and then go run. Those appointments and we use primarily a direct mail, lead-based system. It's, the most consistent, most predictable, and for most agents.
The best way to generate leads so don & # 39. T worry about the cold. Calling don & # 39, t worry about the hustle and your friends and family for leads. You can do all of the lead generation and mortgage protection, just by simply purchasing leads point number seven, is that works protection, unlike a lot of other products for sale, whatever insurance or something else follows a more traditional sales type of situation.
What I mean by that there's, that mortgage protection is primarily a kitchen table, face-to-face interchange between you and your prospects. There are very few technological obstacles to get around now.
Some companies require you to do electronic applications. Maybe a telephonic interview, but the sales process remains essentially the same as it always has. So if you're, a technological Luddite or if you're somebody that's, a little bit worried about coming up with exotic ways to sell, and you like just the old-fashioned way of doing things, works protection.
Insurance generally maintains the old-fashioned face-to-face approach to selling, which works fantastic in this market. Point number eight is that mortgage protection sales are based around nonmedics, so for you guys that are new to insurance.
What nonmeds are that there's, no medical exam necessary to determine insurability. What the benefit is to you is that the turnaround time on getting a policy approved instead of months is usually weeks.
If not days simply the underwriter pulls medical records that the person has on file. They may do a phone interview. They may request attending physician statements, meaning doctors' records, but there's, no actual exam, and the benefit again is that the client gets a decision faster.
That means their policy gets approved faster and you get paid faster. All of this is really important because it goes back to that question about the fact that you have to buy leads. Well. If you're buying leads, you have to output money and before you make the sale.
So if you gotta wait months for a sale to actually come around that's! That problem, if you can, if you can see from the sense of waiting that long before you recapture the money that you invested in your leaves with a mortgage of protection using named products, that turnaround time to profit, is much shorter than otherwise would be.
Point number. Nine is that mortgage protection sales are very scalable. What this means is that the guy that does five appointments a week is the exact thing the same process that the guy who does 20 appointments a week.
The guy who does 20 points a week is just doing more work. He's, doing four times of work, but when you look at his presentation and then his appointment setting it's, essentially the same process as the guy, who is only getting five appointments a week.
This is a benefit to you because a lot of times in many businesses in order to scale in order to grow you've got to learn a bunch of new different concepts. You've got to hire people you & # 39.
You got to learn how to manage them. You may have to enter a new market with mortgage protection that's unnecessary. All you have to do is just more work and that's great because you don't have to change the fundamental structure of the sales call or the appointment setting.
So your income is completely determined by how much you want to work or how little you want to work, not by any sort of newfound approaches that may be untested or you've, never tried. You can rest assured of the same process.
You're, doing a start, or maybe you're. Getting a few appointments a week is the same that the guy uses, who's getting 20 plus appointments a week. Point number 10 is really designed towards people who have a preference for potentially building agency mortgage protection.
For all the reasons I mentioned already, it's a simple product. It's, a simple process and therefore it's. Very recruitable to bring new agents in that have never sold insurance or even made a sale of any kind.
A lot of organizations work around this there and the more of the multi-level marketing approach to doing this business. Yes, it does work. I'm, not a big fan of it. If you & # 39, ve watched any of my other articles, I'll.
Let those explain why. But if you have an idea, the desire to recruit agents to come into your agency, you can definitely do that. You can take the information you took to learn the craft of selling mortgage protection and duplicate it in somebody else.
Reason number 11 is to sell mortgage protection. It's, a low tech sale again, you're. Not gonna have necessarily need a computer. Don't necessarily need much beyond a rape book, a paper application and a pen and some personality, and as long as you can meet the needs of the clients, you can ask good questions prequalify effectively, and then persuade them.
Why your products are better than the others, you're gonna make a lot of those sales where the sales have the opportunity to be made. So you don't have to have a lot of technological bias to be successful.
Just really personality and, and then willingness and desire to help other people reason number 12 is again. Mortgage protection has faster pay than other products again. The idea here is many products issue business within several days and many will pay you within several days of the first premium is collected.
This is so important when you get started in this business, I can't stress it enough. You got to be able to support your business by fast cash flow if you have slow cash flow because you're using traditional underwriting, which takes months.
Most of us have financial requirements to meet every month and it's harder to support a business like that initially, so that's, why these products are great in the sense that they're non met and simplified issue, Because they end up paying a lot faster than they otherwise would reason.
Number 13 is that this business is to be really successful. You got to be a broker, and what's? Nice about that? If you don't know what brokering is broker is when you represent different products, and you're, not married to one company, but a great advantage to your client.
If you can shop around to try to find the best pricing coverage for your client and, if you end up getting declined or rated up with a company, you can shop it with somebody else and not necessarily lose the deal outright.
So, being a broker is really important. This maximizes, your Commission, it maximizes your placed business, it maximizes your happiness, it maximizes your clients, happiness there's, so much the event as an advantage to being a broker that you have to be that way in this business.
So you're, not married to one company. You don't have to push one company's particular product. You decide who you want to represent and whoever it is that you desire is your decision, because, essentially you're.
In effect, your own business reason number 14 is that life insurance ownership is at its lowest point. Some people might get discouraged by that. Wow, nobody owns life insurance. Why would I want to sell it the way I look at it? It is well geez.
Nobody owns life insurance because the marketing methods have changed dramatically over the years where people have put up walls of resistance against selling and more and more people are cold prospecting less, so the ownership process of life insurance has become some of the lowest that it ever Has been, which is a huge opportunity for the young man or young woman coming into this business, or really at any age, to go out there and fight the seed these people, knowing that a lot of these people just simply don't, have life insurance, so there's.
Less of that I already have coverage objection or I & # 39. Ve already got an agent. I'm working with an objection. There's, a really good opportunity for the hard-working person to place a ton of business on people who really need it, but unfortunately just simply procrastinate about buying it, and I think point number 15 is the most important mortgage protection.
Sales are fun. If you like, dealing with the general public, if you like, meeting people in their own space, if you like helping people and you'll enjoy selling mortgage protection, it's, a fun business.
You determine what you want to do when you want to do it, how you want to do your business, hopefully in the best optimal, the most optimal settings, that's, the case at least it is with the organization that I run the help agents Out but the fun is where it's at here.
What's selling mortgage protection? A lot of people enjoy this business because it's, a great income and you're, helping out a ton of people who are contributing every day to their jobs and careers and giving back and it's.
Just a great experience, I hope you like this Article that recaps the top 15 reasons to sell mortgage protection and if you would like to sell mortgage protection - and you'd like to consider working with me here's.
What to do! Go to my website, it's. Mortgage protection, agent, mentor com, click, the contacts box and send me a message. We'll be happy to exchange a few emails with you to tell you kind of what I'm.
Looking for an agent to see if it would be a mutual fit for both of us also make sure you subscribe and like this article, if you haven't already, and please leave a comment or question below if there's, Anything I can help you with.
My name is David du Ford at mortgage protection, agent, mentor, and final expense agent mentor. You guys take care Thanks.