Transcription
What's up, Fipe? Everything fine? How about you? How you doing?
Oh, I'm all right, man. Gotcha. You said, "Am I ready?" Yeah, uh, sure. For just three clients right now, just let them...
Yo, what's up, guys? Good morning! Good morning, Clark, Gary. We got Ken, Tyson, Steve. What's up, Tyson? How's it going?
Tyler, hi, FIP!
Hey, pretty good, man. Pretty, pretty good.
All right, we'll give a few minutes to get some more people in the room here. Some new names from the last time I've been on one of these meetings.
I think, Tyson, you're the only one that was there the last time I did this. Everybody else here is new to me.
Pamela, what's going on? How are you?
I'm doing good. How you doing?
Doing good, can't complain. Did not complain.
Um, guys, anybody else want to get some cameras on in here so it's not just me, Tyson, Ham, Steve, and B Bay staring at each other? I mean, I like all their faces, but kind of lonely over here. Except Steve, I saw that. I saw that face.
Um, he gave that the nod of disapproval there. Neither does my mom. Sorry.
Um, all right, all right. We'll give it another minute or so, guys, and then we'll get started.
All right, actually, let's just get started. Um, can we cap this at like 10 minutes and not let anybody else in after that?
Okay. Um, I just feel like it's weird when we're like halfway through a meeting and people jump in because they miss stuff.
So, um, all right, what's up, guys?
Um, for those of you that don't know or haven't met me before, Tyler, one of the clients at Infinity Box.
Um, been around, uh, been with Infinity Box since, I don't know, eight, six, seven months ago, something like that.
Um, I was leading a lot of these meetings, but last month has been crazy. We evacuated Florida for the hurricane.
Uh, my wife is super pregnant. We had a bunch of stuff for that, and then we moved back to Tennessee last week, so getting settled back in here.
Um, but yeah, I guess just to go around the room, um, who has some wins that they would like to share, if any?
I know some of you guys are probably pretty new. I know how many you are, but anybody got some wins, even if it's not with Infinity Box, just wins in general to share?
I'll go off of Infinity Box and that like 11k I've submitted this week, and I think the F me around 25 or 30ish for the month, so good.
Beautiful for the month of November.
Target, by the way.
What, for the month of November?
Yeah, yeah. October was like... October was around 60.
Beautiful, beautiful. We love it.
Um, and that's all off Infinity Box.
Excellent.
Um, anyone else? I don't know if anybody's gonna beat that, but maybe...
Nope, no wins at all? We just... no business written in the month of November, huh?
All right, cool.
Um, all right, well, I guess, um, the best place to start, guys, is, uh, we'll go through... I mean, you guys all have my sales process. That's my script that's in the, uh, in the program.
It's the exact script I use on every single call.
Um, who here is struggling with their sales process, or who here is doing a two-call close that needs to learn how to do a one-call close?
What are you guys struggling with, and how can I help?
And obviously, I might... Steve, I might get you to chime in here. You're obviously having some success, if you don't mind.
Um, say... I'm sorry, I was replying to Felipe. Say the question again.
No, I was just going to say I might have you chime in here and help as well. Just you're obviously having some success.
It helps to have multiple VOEs on the call.
Um, but yeah, anybody, uh, what are you guys struggling with, and how can we help, or how can I help?
Yeah, I've been primarily doing the two-call close, but, um, you know, maybe talk to me about, you know, some of the key things you guys are doing to do the one-call close.
Yeah, I mean, I think the biggest shift is going to be the mindset shift of doing... like a lot of agents are taught to do a two-call close for ILUL because it's a complex product.
Um, I don't think it has to be, right? I mean, you definitely get some complex cases of people that want to put a ton of money in. Those might take a little bit longer. They don't have to, though.
I think the biggest shift is just your mindset of condensing, trying to condense the call without removing, like, key aspects of the call.
So break down for me what your two-call close process looks like now. Like, how does your first call look, and what do you... why are you scheduling a second call?
Yeah, yeah, the first call is just really information gathering, you know, asking, um, you know, what they're looking for, what they're looking for the IL to do for them.
Um, you know, a lot of that, you know, comes from, I need help with retirement. I ask them about, you know, are you contributing to retirement?
So that whole process takes about 15-20 minutes. I do the health questions, then I set up for the, you know, for the second call.
Um, and then usually my close rate on the second call when they do show up is probably about 90%.
I think I've only lost maybe one or two that didn't close, that didn't close, but it's usually a two-call close.
First part is just doing the information gathering. Second part is just really doing a custom, you know, custom presentation, illustration, and close.
That's usually how I've been doing it.
So I'm real curious about how do you wrap all that into just one call close when a lot of times, you know, are you setting the expectation that the first call or your first appointment is going to be an hour?
You know, especially if the AI is setting it up, they usually only set it up for half an hour.
So that's been, you know, perplexing for me is like how do you get one call close, you know, with these leads?
Yeah, I'm not setting the expectation it's going to be an hour. I'm just assuming my way through the call, right?
So like I'm assuming they're there to figure out or to learn more about what they're looking for, right?
That's every client that we get on.
Um, I'm assuming that they're there to buy insurance today, right? I'm assuming that they want what they're looking for.
So I think if... I mean, and if I have a call scheduled for 30 minutes and it's a good call and I feel like I have a good chance of writing that policy, I don't care about my next call.
I'm going to reschedule that because I'm sure some of you guys have heard this in the business. Some of you have probably been in the business a lot longer than I have.
But one of the things that my upline at my agency has told me repeatedly is appointments or disappointments, right?
Meaning that call that I'm trying to rush for to get on at 3:30 when I'm on my call, my 3:00 call, that 3:30 might not even show up.
But right now I'm on the call with somebody who is on the phone with me, so let me put everything I can into getting that policy done.
And then I can... if the 3:30 was serious, then I can get them rescheduled. If not, then I wrote a policy.
So I think I don't... I don't ever set the expectation it's going to be an hour-long call or anything like that.
I don't really set any expectation other than I'm here to gather some information as far as what they're looking for and then obviously searching around to find what they can qualify for.
And then, you know, obviously educating them as far as how the products work because they don't always know, or very rarely do they know exactly how the products work.
Really, the only expectations I'm setting, um, and then, you know, setting the expectation, I guess another one is, uh, I mean, it all comes down to what they can get approved for, right?
So I think if you go into the call with that mindset of, "Hey, I'm on this call. I'm not trying to rush this because I have a 30-minute time slot. My full focus is on this call and getting this call, you know, this person protected or set up for retirement or whatever it is," that alone, that mindset switch will help you carry through that call.
Um, the other thing is just assuming... I'm assuming that right now might be the only time they could talk about this, right?
I'm not assuming that they're going to be around tomorrow or Wednesday or Thursday or Friday or whatever to reconvene.
I'm also assuming that they're not going to show up if I reschedule a call because, again, I mean, we've seen it. I'm sure all of us have been there.
We've set an appointment, we feel really good about it, we call them, they no-show, we can't get them back on the call, and they just ghost us for six months, right?
Yeah, so if you take that mindset in every call, and then, um, just condense it a little.
I mean, my intro and discovery is probably 10 minutes of the call, and then from there I'm explaining how the policies work, and I'm explaining how there's different ways to structure the ILUL.
Um, we can, you know, max fund it, uh, increasing death benefit, whatever it is, right, based on the person I'm talking to.
Um, and then once they understand that, then it's just figuring out how much they can allocate towards something.
Now, if it's a coverage call, if it's somebody that's, "Hey, I'm looking for life insurance that, you know, I need life insurance in case I die, but I also saw that I could build cash value and build this up to become my own bank," yeah, um, it's different, right?
If it's a tax-free retirement call, some of those go like an hour.
Um, but I've closed $122,000 annual premiums, $15,000 annual premiums in 45 minutes before.
Um, yeah, so I think that's important.
Um, does that... does that question... that my question?
I think the other... the second part of that is, um, are you on that call? Obviously, it's on a phone, right?
Um, are you showing them... are you illustrating anything for them in terms of the cash value? Are you showing them anything, or is it just all conversation, questions, you know, statements?
Yeah, so people don't really believe this, and I mean, there's... I'm sure there's other people that do this, but for the last, I would say only the last month, have I started actually, like, sharing illustrations just because I started to run into some people that were clearly a little more sophisticated, um, maybe didn't... they were a little more skeptical.
So like, I'll use Crank Will. Are you guys familiar with Crank Will?
No? Not know Crank Will?
Crank Will, so it's a Chrome extension you can put in their phone number. It's going to send them a link, and then you can share your screen.
It's not a Zoom, so they don't... you don't have to be face to face or anything, but you can share your screen and walk through the illustration with them.
Okay, typically when I'm doing that, I really just started doing that. I closed like 130 policies never even sharing my screen once.
Um, maybe I'm a dummy for changing my process now, I don't know, but time will tell.
Um, but yeah, I mean, it... like if I need to show a screen, I think I maybe did it twice out of those 130, right?
Crank Will, and I'm only touching on a few points. I'm showing them like a 10-year horizon of what their cash value could look like, um, age 65 if it's a retirement.
I'm showing them that, and then I'm going over the living benefits as far as the critical, chronic, and terminal illness, and that's pretty much... once you've discovered how much they're willing to contribute to the... unless it's coverage-focused, and then you're just focusing on coverage.
But does that make sense?
Yep, it does. Thank you.
And guys, I'm probably talking really fast. I'm wired up on like 250 milligrams of caffeine right now, so I apologize if I do talk fast.
Um, all right, Sam, you got a question? What's up, man?
Yeah, sorry, I'm driving right now, but, um, yeah, really glad I can make this call.
Um, I am... I'll try and keep it... keep long story short, but yeah, I'm barely new to insurance. I only started in it this year, and I'm at an IMO that mostly focuses on network marketing, and I haven't had a lot of luck with that.
So that was kind of how I came into Infinity Box, but I've been really hesitant to run my leads, so I haven't actually accepted the leads yet.
I'm actually in another, uh, like sales team where it's just like they have... it's not insurance, but they have tons of leads, so I'm trying to get my confidence up.
But yeah, I still want to be in insurance, and like I know I'm kind of missing like my opportunity cost of like doing this other thing that's, you know, doesn't commission nearly as high.
Um, yeah, I was kind of curious, like what is a good way to like get your confidence up, you feel like?
And like, um, like have this stuff... I know the best way to do it is just doing it, but like I don't know, I'm a little bit nervous because I don't want to... I don't know, I don't want to like burn kind of expensive leads learning, if that makes sense.
Uh, yeah, I mean, my opinion is I think you just said it right. Like the best way to build your confidence is to get on the phones.
Um, you can sit around and like role play with yourself or your spouse or whatever, but nothing builds confidence like actually getting on the phone with somebody that's truly looking for what you're looking or for what you're selling.
Um, I think you're looking for a magic bullet. I don't... I think the magic bullet is just getting on the calls, man.
I know it's not what you really want to hear, but that truly is, I think from what I found, the best way to build that confidence.
You're going to burn a few. That's totally fine. That's part of the business.
Um, you're probably not going to come out of the gates like just crushing. Maybe you do, though.
The problem is you don't know. You might get on a call. I mean, I never sold insurance before, didn't even really understand the products, and my... I think out of my first three calls that I got on, I closed two policies.
Um, I wish that my conversion rate stayed that high since then, but, you know, it can... it can do that. You can either pop off or you're going to burn a few, but you're getting reps.
You're getting closer to, um, you know, where you need to be. That's really the only way I think you can do it.
Yeah, and that was all with Infinity Box?
Yeah, so when I first started, I was buying leads from my, uh, agency, um, and I did that for like two months and then partnered up with Infinity Box, and then my ROI has just been significantly higher since then.
Um, I don't even run agency leads anymore, so... but that was like when I very first started. That's the only lead source I knew.
Came into the agency, they're like, "Hey, we have leads." I was like, "All right," bought them, started calling them, and, uh, yeah, that was it.
That's awesome.
And that was... that was another thing I had a little bit of concern about is my contract.
I mean, a lot of people have told me my contract is kind of low for, uh, the IMO that I'm at.
It's a... like the carriers all pay out 100%, and you get a 12-month advance on target premium, um, like the monthly target premium.
You get a 12-month advance on, so like that part of it's nice, but then my, like, actual agent contract is 45%.
So there were some people that were kind of telling me like, "Oh, with Infinity Box, you probably... like you're going to be breaking even if you're doing good."
But I know it's kind of random because you could still get like, um, like higher, you know, higher paying clients.
So I don't know, there's just kind of a couple things that just kind of got my nerves a little rattled.
Yeah, I mean, I think that is a... I would... I would probably look at a different IMO.
I mean, I would probably look at going somewhere else. 12-month advance is nice, but 45% is terrible, especially if you're having to buy your own leads.
That's crazy, right? Like if they're feeding you free leads, like maybe I could justify it, but yeah, 45% is terrible.
Um, and I mean, look at it this way. Steve said he's at 30k issued for the... or written target premium for the month already.
Even if he was at 45%, he's already ROI on his leads, right?
So, I mean, the ROI is still there, but yeah, bro, I think there's plenty of opportunity for you to make a ton, like have a lot more earning potential.
The 12-month advance is nice, but only getting 45% of that is not nice. Like I wouldn't...
Yeah, I think there's better opportunities and better vehicles for you.
Um, yeah, exactly what Joe said.
Um, yeah, if you're not... if you're not 80 or above, I think you should be looking at different opportunities.
Um, what's the name of the IMO that you're with, Sam?
Uh, it's called GFI. It used to be part of, um... yeah, it's called GFI. It used to be part of what? WFG?
It was like people from WFG that split off and started GFI.
Yeah, bro, I think you should, uh, I think you should probably, uh, find another IMO.
Just I say that respectfully. I'm not trying to give you more to be stressed about, but there's definitely... there's just better opportunity out there, man. Way better.
Yeah, it's like the selling point is supposed to be kind of as a builder platform, but I don't know. It just kind of feels like putting the cart before the horse a little bit.
It definitely is. How... like, yeah, guys, I hate agencies that promote recruiting before they promote, um, production.
I think it's... that's what gives... it's a bad name to some people that think it's a, you know, straight MLM pyramid scheme.
Um, I would go to a company that prioritizes production and recruiting is second, building is second.
Okay, and I guess, and like, what's your, uh, what is your, um, what does the growth potential look like?
Like, how do you get bumped up from 45%? Is it based off recruiting?
Because I know that there's agencies that strictly base bumps off of recruiting, which is ridiculous.
Sorry, I was trying to switch over to my AirPods real quick.
Um, but yeah, it's based off of recruiting and production.
Um, so it's like you gotta... like to get up to 60% contract, you're supposed to have five licensed agents working under you, and you got to have, I think it's like... I forget what the target premium is.
It's been a bit now, but it was like over $3,000, something like that in target premium over like a three-month rolling period.
It's something long, like three... it was like $3,700, I think, over a three-month rolling period.
I could be remembering that wrong, though.
Okay, yeah, I mean, I think most of us would probably just say, um, would say to change, uh, char comps.
Yeah, I've been... I was looking at doing that.
Um, I have a friend whose company I was looking at going to, but it's been kind of... I don't know.
He... he's got leads that they actually give to people. It's like a 50/50% split, but, um, people have to be... like he doesn't just let people on until they're like doing pretty good at whatever opportunity they're at.
And it's just been a dry spell for me for almost two years now.
I was... I've done really well in the past, but just like I'm new to insurance, and before that, I was in a dry spell doing kind of door-to-door type stuff.
So, yeah, bro, I'm sure plenty of people here would be willing to talk about other opportunities.
Maybe, um, if you want to reach out to me, I'll discuss, um, with you as well.
Um, yeah, I think the biggest saw for confidence on the phones is getting on the phones.
I think that's, uh, the first question that needs to be answered.
Um, all right, who else here is hitting the phones? Who's struggling with anything on their sales process? Needs clarity?
Anybody? Tyson, what's up, man?
Hey, Tyler, about, uh, two months in right now, uh, with Infinity Box.
Um, have had some success, uh, written a couple apps.
Um, my biggest struggle is, uh, just getting people on the phone.
Um, you know, I've got 150 leads, and I think I probably talked to, you know, maybe 15, 20 of them is all, you know.
Uh, what do you... what do you guys do to talk to more people, to get more people to engage?
I mean, I'm calling, uh, I'm calling pretty much within the, you know, 15 minutes of them... the lead coming in, except for, um, sometimes the leads coming in at like 10, 11 o'clock at night.
Um, so I'm not... I'm not calling until the morning on those ones.
Yeah, how many times... what's that?
How many times are you calling?
Uh, three times, and then, but after that, are you still continuing to call the leads?
Uh, yeah, or I'll reach out by text.
Okay, are you in Hot Prospector? Are you using the dialer yet?
Um, I just got access to it. I think I need a little training on how to work it, um, so I haven't used it yet.
Yeah, so I think that's going to change the game for you tremendously because you can literally just upload your list of leads and just dial through them repeatedly.
The biggest thing, um, so Hunter, what's the close rate on leads?
Uh, right now, through the entire company, this is for the... through the entire company, it's just over 10%.
It's between 10 and 11, so if you get 100 leads, on average, it's about 10 policies written.
Um, for the people that don't know about Hot Prospector, I'm trying to get the word out to everybody.
Our pickup rate for our ISAs right now, the internal sales agents, is pretty much exactly 20%.
So if we make 100 dials, we talk to 20 people.
So if you guys are not on that, it's 50 bucks a month, but we'll give it to you for free for the first month.
I would recommend literally everybody DM in your Slack channel, and I'll get Brian to come on and help set it up.
Yeah, we'll just do it for free for a month to test it out, and it should massively improve pickup rates.
Yep, yeah, that... that's going to change the game because it's local numbers.
Um, and I think the biggest thing is you, uh, you have to, um, you have what Joe said actually in the chat.
You have to call every lead every day, right? Like until they tell you to F off.
The thing is, guys, like would anybody here put in their name, phone number, email, state, um, and answer questions about how much they're looking to allocate towards something if they weren't serious about looking into something?
Anybody here? Would anybody take the time to do that?
I wouldn't, right?
So if we keep that mindset that every lead opted into this because they are interested, it's our job as insurance agents or insurance brokers to follow up with them until we either get them protected or they tell us to F off and they're not interested, in which there will be a small portion of people that do that, right?
Um, but I think that's the biggest thing is just calling every lead every day until they literally just tell you, "Leave me alone," or, "Yeah, I'm so interested."
Sorry, I've been busy because people are sitting at dinner with their family, they're, you know, on their lunch break at work, they just got home from work, they're tired, they're going to bed, whatever it might be.
So if we just call them, then chances are they might... I mean, the answer rate is pretty high when you... when everybody knows the stats of like when a lead first comes in, calling them is always the best bet.
But for the people that don't answer right then, if we call them repeatedly, eventually we're going to probably find them at a good time when they're, you know, able to talk.
And I think that's the biggest thing that we can all do, um, myself included.
I've... last month, um, I was... some of you guys were here at the beginning. I was moving, I was traveling, uh, we evacuated for the hurricane.
I was out three weeks last month, but that first week of the month, I was ripping through my leads and dialing, and I wrote 30k in a week, which made me being traveling for the rest of the month a lot less stressful because I had written a good bit of business in that week.
So yeah, I think that's... I think that's the biggest thing, guys. Just call your leads, follow up with them.
Everybody opted in because they're interested.
Um, yes, you're going to get the dummies that say, "No, I'm not interested." That's going to happen, but that's just part of the business.
Not everybody's a buyer right now, but, um, yeah, and just to reiterate real quick, there are zero calls to action on any of your guys' marketing.
So there's no like, "Hey, get a free ebook or a free gift card if you opt in."
It's like, "Hey, here's a cash value life insurance policy. If you're interested, fill out this form, and a life insurance agent will reach out to you."
So like you have plausible deniability to call these people until they tell you to stop because they did opt in, uh, just like Joe said in the chat.
Yep, yep, and obviously we have ISAs that are working our leads, right?
That's like they're doing a lot of that grunt work for us, but if I'm not getting on enough calls, I'm ripping through all my leads, right?
I've been buying leads for nine months now, and I was pretty aggressive with my lead budget even in the beginning.
So when I'm... if things are slow, if I get no-showed up an appointment, again, appointments can lead to disappointments, right?
That's just the honest truth. That's why if you do get them on the call, you need to try to one-call close them.
You don't need to set up follow-up calls.
Um, but I'm treating every lead like that, and here's the thing, guys.
If these people opted in to Infinity Box ads, they probably clicked on another ad at some point, and if we don't call them enough to get them on the phone and help them get protected, some other agent is, right?
Some other agent is squeezing the juice out of that lead and getting them protected.
So it's either going to be you or it's going to be somebody else that gets a hold of them.
Um, Tyler, quick question.
Um, it's like my second week in, um, but what are some ways that you were like, um, building urgency to call to close these people, whether it's, you know, in the... like somewhere five minutes into the phone call or whether you're pulling up the illustration?
What are some ways you're building urgency to call to closing some questions?
I mean, I think the urgency is on getting protected usually, right?
It's... it's kind of... I think it's probably more difficult to build urgency on like a retirement-focused call, but I build the urgency based on the fact that I can do all the shopping for them.
Because what's the biggest reason people don't buy?
Oh, I want to shop around, right?
Well, I do all the shopping for you. I've got 30-plus carriers that I'm contracted with.
I can instantly shop and find you the best rates, best approval odds, all that stuff for the coverage-focused calls.
That where people are actually... they need the coverage, it's baking in the urgency that, like, I mean, bro, I could leave for lunch tomorrow and not make it back home, and then if I don't have life insurance, my family is screwed, right?
Because I'm the breadwinner.
Um, I think the urgency is an emotional play on these calls.
Um, usually I'll find out, like, who is it that we're looking to make sure is protected if something were to happen to you?
Because if they say, "Oh, yeah, my wife, Susan," okay, cool.
We want to keep Susan in mind with everything that we're looking at today.
And then that way, if they, you know, are like, "Ah, let me think about it," hey, look, you know, we can refer back to Susan and making sure that she's covered if something happens to him or her, whatever, vice versa.
Um, but it... a lot of sales talk about, uh, like selling a service, you're like always building urgency with PRI.
We can't do that because we don't make the rates.
We don't make all that stuff.
We can't say, "Oh, we're only helping one more family this week."
Like those are things that, that like high-ticket salespeople use.
The urgency here is all going to be based around the emotion of them dying and leaving Susan unprotected because they didn't want to jump into something for $150 a day, right?
And then you'll get the... you'll get the "let me think about it" thing.
Um, I mean, that's probably the most common objection is, "Oh, yeah, let me think about it."
This sounds good. My... my overcome for that is just, "Yeah, totally understand, John. I want you to think about it."
Um, but the reality is we don't really have anything to think about yet because we don't even know if you can get approved, right?
Once you're approved, you can take this policy, show it to Susan, and, um, look it over with her.
But until then, there's really nothing to think about because these numbers are hypothetical.
That's far.
Um, what if it's like... so if they're like just straight about like cash value and like they just want like, you know, like minimum death benefit and max cash value, and they just want like, you know, to use that money for real estate investments or business funding, whatever it is.
Um, is there any way you can like build maybe emotional value or value that will help with the urgency of, you know, getting them to do it now rather than, you know, next week or something?
That makes sense?
Yeah, I mean, um, I'll bring up a story.
So I had a guy that was like, "Yeah, this sounds great. I definitely want to get this started. Can we just push this out like three weeks?"
And, uh, I've actually had this happen two times in two different instances, but one guy said this, and I circled back with him.
He was diagnosed with like pneumonia and something else during that two-week period, and now he can't get an ILUL because for some reason that's showing up as a lung disease on his medical report, right?
So it all goes back to like, especially if you're talking to somebody and they have a good shot, you think that they have a good shot at an approval based on what they're telling you right now.
Like we need to secure that approval because tomorrow is not promised.
They could die tomorrow, and even if it's not death benefit focused, if they have the policy, their family is still getting something, right?
Or they can wake up tomorrow, get sick, and not be able to get approved anymore.
They go to the doctor tomorrow and be diagnosed with cancer, right?
Those are all real things that happen every day.
People don't expect to go get diagnosed with cancer.
It's not, you know, they don't expect to have a heart attack and not be able to qualify for anything anymore.
So I think those are the biggest things you could use for those like retirement-focused calls is just the reality that now is their best chance on approval, and we need to at least secure that for them.
Fire, that makes sense.
That makes sense. Appreciate it. Thank you.
Of course.
Who else? Anybody else?
Pam, I know you've got some questions. You've been engaged this whole time. What's on your mind?
I'm good. Like, I really am. I'm good.
I so just started here, and my pipeline's there. Just got to get some things closed.
Initially, it was just illustrations for me why I wouldn't want to call closed, but I'm pretty comfortable with it.
I believe that what the work that's being put in and what has been done for us is a great opportunity.
You just got to put the work in.
So, um, looking forward to great success here, but I appreciate it. Thank you.
And thank you for all your comments. I appreciate it.
Of course, absolutely.
Yeah, guys, I think for anybody that... I know I've already kind of went over this at the beginning, but I think some of you came in a little bit late.
You can believe it or not, you can do discovery, financial inventory, put together an illustration all in at one call and get somebody to say yes, that this is what I want to do, right?
I've done nothing but one-call closes since I started.
Every now and then, you'll get somebody that's like you just can't one-call close them, right?
That's fine, but if you're shooting for a one-call close with keeping in mind that it's in the best interest of the client that they close now because, again, tomorrow's not promised.
And, you know, being in this business long enough, I've said it six times this call, appointments are disappointments.
They might not show up to that second call.
That's doing them a disservice by not trying to get them, uh, protected or secured with an approval on an ILUL today.
Hey, Tyler, are you saying one-call close and taking the application at the same time or setting another appointment for the application?
Nope, one-call.
Yeah, one-call close is securing everything from the discovery, putting together the right plan for them, quoting, giving them the different options as far as quotes or whatever it is that that call entails, illustration, application, sign, so delivered.
One-call close.
Some, uh, Joe just asked about the one-call close.
Can I just, like, the background? When I got into the life insurance industry, this is like all we were taught how to do is like we felt like it was a loss if we didn't one-call close.
So like we're very used to just doing one-call closes.
Um, I know it just sounds simple. It's just doing the application and getting instant approval hopefully on the same call.
But like, I mean, Joe just asked about it.
Tyler, you want to like just kind of how long does a call take?
Like doing discovery, going to this, jumping into an illustration, or what's best practice to get a one-call close?
And yeah, Joe says how long is it?
And then Ty, you just last question, do you have like any percent on like how many calls you think you're one-call closing?
Like is it 25% of them, half of them, more than half?
No, it's like 98% of my closes are one-call closes.
Can I say something quick before I forget?
Is that I have a client asking me if the first month of Hot Prospector is free.
Uh, I wasn't paying attention properly, but no, it was free for the first wave where we were testing this.
Now it's just 50 US per month.
So if you want to start with the prospector, the first month is just going to be 50 US.
I just want to make everything clear in case, uh, we're giving the wrong expectations.
Okay, sorry, sorry.
Yeah, okay, yeah, no worries.
So, um, again, I kind of went over this in the beginning, Joe.
I think you came in right after this, but my discovery portion, like up until I'm explaining how the policy works, typically takes 10 minutes.
Usually about the 10-minute mark of my call, I'm explaining the ins and outs of an ILUL.
Now at this point, I would already know that they should have a good chance of qualifying for the ILUL because we're asking those health questions and stuff like that.
And then, um, from there, it's just simplifying it.
Like I explain the ILUL like I'm explaining it to a five-year-old because we're the professionals.
They're not the professionals, right?
We know all this jargon and the ins and outs, or hopefully we do if we're selling it, um, of how ILULs work.
They need to know what they need to know right now.
I'm not saying keep anything from them. Obviously, that's not what I'm saying.
But if we can dumb it down to where a fifth grader can understand it, your clients are going to understand it, and they're going to be more likely to say yes because they have clarity, right?
So 10 minutes discovery, figuring out what's got them looking into life insurance, um, trying to figure out what we can qualify them for as far as health questions, things like that.
What do you do for work? How much do you make? Things like that.
Who are we looking to make sure it's taken care of if something happens to you?
And then probably, I don't know, five minutes explaining the policy, if that.
Um, if you guys look at my script, it's a very simple explanation of how the policies work.
Um, and from there, it's just explaining to them that, no, there's two things to keep in mind with life insurance.
Number one, the older you get, the more expensive it becomes.
So, Jacob, you asking about urgency, number one, the older you get, the more expensive it becomes.
And number two, the policies are a privilege. They're not a right, right?
So the policies are based on approval based on your medical, prescription, driving, and criminal records.
And so based on those records, based on what you told me earlier, you know, I think we have a pretty good shot here.
But we obviously won't know until we submit a request of coverage with the carrier.
And then from there, it's just finding a coverage amount that makes sense for them.
Or in the event of setting it up for retirement, finding out what they're looking to allocate, which you guys, I think every IMO at this point has a financial inventory, right?
Financial inventory sheet where you ask, you know, mortgage, 401ks, things like that, right?
Everybody got that?
All right, so when I'm trying to discover how much they can put into the retirement, I'm going through that.
And then, um, showing them some maybe sample illustrations based if they don't know a number.
I'm like, "Cool, so let's just take 500 a month and show you what this could look like."
And I'll put together the illustration, and I was just saying this over the phone, like, "Okay, so at 500 a month, your death benefit is, you know, $72,000 with an increasing death benefit.
Uh, by year 10, this is how much cash value you're estimated to have based on a conservative illustration rate, 5.9% or whatever mutuals spitting out," right?
And then from there, they're like, "Okay, what does it look like if I do 750?"
Or, "What does it look like if I do a thousand?"
And you go through that, and then once it's like they're like, "Yeah, I think I would like to do the 750 or the thousand," or they want to do the 500, it goes back to, "Cool, so obviously these numbers are just hypothetical.
We've got to make sure we can get you approved first, so we would just walk through an application.
It takes like eight minutes. We'll see if the carrier can approve you, and, um, you know, if you're able to qualify."
That's it.
And then I go through the application very simple.
Hey, Tyler, it's Joe. Can you hear me?
What's up, Joe?
Yep.
Hey, thanks. Thanks for doing it.
Is your go-to, do you use Mutual Omaha? Is that what I heard?
Yeah, Mutual of Omaha.
Yeah, Mutual of Omaha is my number one.
Um, sometimes if it's just a straight-up, uh, like I... Americo is not great for like cash value ILULs, but I will say Americo I is pretty solid, uh, because they have a longer no-lapse guarantee period.
So if somebody's just looking for coverage and it's like an easy solve, Americo is a pretty decent one to do.
Um, but yeah, if it's like cash value focused, and even a lot of times if it's death benefit focused, I'm starting with Mutual and then pivoting from there if I have to.
Okay, are you using WinFlex and everything right away?
I mean, you're pulling it up and typing in the numbers, that's right?
I get you're doing one-call closes, which I've never done, so that's what I got to get.
Yeah, I mean, for those of you that are doing two-call closes, it's just condensing what you do in the first call and second call into one call, right?
It's the same thing.
The difference is you have them on the phone. You're guaranteed to be talking to them right now.
You're not guaranteed to talk to them tomorrow at 5 PM when they want to reschedule a second appointment, right?
So again, I try to keep the mindset that I'm doing a disservice if I can't get them approved today.
Good.
Someone [Music] else?
Yeah, and yeah, Hunter, we went over these.
So the "I want to think about it" or "I need to speak to my wife," it's like, "Yeah, perfect. You know, I want you to speak to your wife about this.
Obviously, this is the decision you're making for her."
Um, that being said, John, there's really nothing to speak about yet because everything that we're talking about is hypothetical.
It all starts with getting you approved.
Once you're approved, you can take this policy to your wife, look it over with her, make sure it's something that's, you know, it's enough.
I never say anything in the negative.
I would always say, "Make sure it's enough coverage for her if something happens."
That way they're not thinking like, "Oh, make sure you guys can afford it."
I'm not saying anything like that.
I'm saying make sure it's enough coverage if something happens.
Um, yeah, and then that's... that's an easy way to get over that.
Um, I've had a lot of people say, "Let me think about it," or, "You know, I want to think about it."
Yep, totally understand. I want you to think about it.
Um, John, everything starts with an approval.
All these numbers that we're talking about today, they're all hypothetical.
And then when I get to the end of the application and I'm putting in bank info, I just assume that they're buying today.
And I say, "Hey, so typically if the policy is approved, it's issued within the next one to two business days.
That's when that first premium would come out.
Now, after that, we can select a specific day of the month going forward for that recurring premium.
What day would you prefer?"
And nine times out of ten, they're like, "Okay, yeah, that first premium is fine. Can we do the 15th of every month going, you know, after that?"
Cool, yeah, no problem. Done.
So Tyler, you don't get any pushback then when you, you know, obviously they're giving you pushback before the application.
So when you get to that last part of taking the banking information, you don't get them saying, "Hey, I thought we were just taking the application. What do you need my banking information for?"
One out of ten.
Okay, yeah, you're... you'll always have... you'll always have a few because people are just naturally skeptical, I think.
Yeah, if somebody's like... I mean, everybody knows the overcome for why do you need my bank info for an application, right?
Surely to God, this is like... I think every IMO provides this.
Does anybody not know how to handle that situation?
All right, so I'll just go over it anyway.
Um, so, uh, yeah, I mean, well, I'll just say this to you guys.
One of the reasons we ask for bank info, one of the reasons that the carriers ask for bank info on an application is to make sure that somebody's not committing fraud, right?
So if the name of the insured, if they're marked as the payer on their account and their name doesn't match the bank information they give, that's fraud, right?
Now, obviously, if there's a different owner and payer of the policy, that's different, like if the parent's paying for the child or whatever.
But whoever the payer is has to match the name of the bank account that they put on file.
Otherwise, um, with somebody's social security number, you could go take out a policy on somebody that has no relation to you, right?
So that's the number one thing.
I always convey that to my clients.
Hey, this is just to make sure that there's no fraud.
But guys, nine times out of ten, if you're just super assumptive through the close, this does not come up.
Like it just doesn't.
Um, and if it does, it's just logical.
You guys just explain why the carrier needs that information.
Does that help, Clark?
Yeah, it does. Thank you.
I'll just take notes. Thanks for that.
Yeah, absolutely.
Yeah, who else?
I was saying if I could have, you know, I had a pretty successful first 100 leads.
I think I ended up closing about 12, but there was probably another, as I'm looking at it now, another four that I probably could have closed if I did the one-call close.
Yep, absolutely.
And guys, I still strike out on some occasionally.
Like it's not... there's definitely... 98% of my closes are one-call closes, but there's easily an extra three or four that I'm not able to one-call close that month that I could have closed, and they'd never show up to their second appointment, right?
So again, it's just always keeping that mindset of we're doing what's best for the client and getting them approved today.
Tyler, um, how many leads are you getting a month?
Assuming like 200.
Um, so I always start with 100.
As soon as I'm in ROI, only 100.
Like let's say I'm seven days in and I'm, you know, I've closed four or five policies, or even if I just recoup my money, I immediately buy another list or another pack of leads.
Because I always want to keep my pipeline full.
And if I get 10 leads and I close two of them, um, and I recoup my money by the fifth or sixth or seventh or tenth, right?
Well, now I've got extra money to spend for leads that month to maximize my return.
So I'm always buying more leads, but I start with 100, then I'll buy another pack of 100.
So sometimes I'm buying like 200, 250.
Depends, like my biggest months, I think I've like 50k in target premium, 60k in target premium.
I was probably around 200 leads that month, and then there's always like four or five leads from the last month or more than that, depending on how many I bought that buy the second month.
So it just compounds, right?
It's not just who's buying right now.
It's building your pipeline for people that'll buy in the future, especially if you're consistently following up with your leads, um, both through the CRM, the ISAs, and yourself.
You're going to squeeze the juice out of it, you know, as much as possible.
Okay, so it sounds like lead flow is cash flow.
A million percent.
Yep, you said it.
All right, bet.
Tyler, what's your, um, what's your role in like a kind of a quick role and purpose that you do or intro?
You know, to kind of transition, what does that sound like for you?
That role and purpose?
So, uh, you're just asking about the intro of the call?
Like intro to the call?
Yeah, or just, you know, more of an outline of like, "Hey, this is what we're going to do, you know, today."
Just that to give them those expectations, um, you know, what the call is actually going to be about.
Absolutely.
So if you guys look, um, for those of you that don't have it, uh, my script is inside of the program.
If you don't have it, message, uh, message in your Slack channel to get it.
But this is the... this is the gist of what I'm saying every single call.
I mean, not the gist. This is exactly what I'm saying every single call.
Uh, F, can you let me share my screen, please, sir?
You can go ahead and do it now.
Okay, so if it's a... if it's a booked appointment, this is my intro.
So, hey, John, inquisitive. When they say, "Hey, this is John. Who's this?"
Hey, John, this is just Tyler with... and I just changed this.
I was just saying Legacy Insured.
Um, but hey, John, this is just Tyler with Family First Life Benefits Department.
I know you submitted a request here recently to discuss information on an ILUL.
I'm just curious, man, what was it specifically that piqued your interest and made you want to look into life insurance right now?
So I immediately try to convert this back to a life insurance call because here... here's the other thing, guys.
I'm not to get too off topic. I'll get back to this.
So many people come into this and like all I care about is cash value, but then you do a discovery and they've got six kids and no life insurance.
It's like I'm not going to sell them a policy with a minimum death benefit when they can't even cover their mortgage.
They can't even pay off their home if they die tomorrow, right?
So I'm always trying to bring it to a life insurance call until I find out that they are a good candidate for retirement-focused ILUL.
And then if it is no... or sorry, this was appointment booked.
If it's no appointment booked, it's the same thing.
I just specified that I'm the senior broker and field underwriter assigned to your file.
Just wanted to make sure I can get you the info that you're looking for regarding the ILUL or cash value life insurance.
What was it specifically that piqued your interest that made you want to look into life insurance right now?
Same thing.
The only thing that's added is this, okay?
Because if they're booked, they kind of already know that they're talking to the broker that was assigned to their file, right?
So this is just a little added thing there.
And then, you know, once they tell me what it is they're looking for, what piqued their interest, usually something along these lines.
It depends what they say, but this is the gist of it.
Um, you know, most people, most of the time, people push this off way too long, and then it either becomes way too expensive or they struggle to get approved at all.
And so, Jacob, you asking about urgency, this is like building in a little bit of urgency.
Like if you push too long, they can either get way too expensive or you might not even get approved at all.
Fire, that's... yeah.
And then I'm asking, you know, have you ever had a life insurance policy before?
Are you familiar with how policies work in general?
And they typically... this is where you'll get people saying like, "Yeah, I've got a work policy. It's like 50 grand," whatever.
And then if they... nine times out of ten, that's what they have, right? A work policy.
I'm always explaining that the work policy is kind of like the company car.
If you leave the job or if you get fired, it's gone, right?
Um, and then some work policies even only cover accidental death or death on the job.
So, and then I set the stage.
Cool, so I can definitely explain how the policies work for you and just go from here, John.
Now, before we do jump in, I just want to reintroduce myself so you know exactly who I am and what I want to accomplish on the call today.
My name is Tyler Warden. I am a senior broker and field underwriter for life insurance.
I specialize in all types of life insurance, but my primary focus is lead type.
So for most of you guys, it can be ILUL, you name it, I do it.
Uh, now my job is super simple.
I work for you completely free.
What that means specifically is that I'm contracted directly to 30-plus carriers across the country.
The easiest way for me to explain my job is I'm basically the Uber Eats of life insurance without any extra fees.
Because given our size, volume, and being direct to the carrier means you get to bypass all the extra application fees that other agencies charge.
So we can easily shop and find you the best chance, best rate, and chance of approval.
So this is getting out all the shopping objection.
"Oh, I'm just looking for quotes. I'm just shopping."
Cool, I can do all that for you.
I've got all carriers at my disposal here.
We can shop and find you the best rate.
And then this is the last piece of the agenda.
So just stating my three goals on the call.
Number one is to give them clarity on how the products work just so they understand the full realm of each policy and the pros and cons.
Obviously, since they are life insurance policies, I do want to get you protected.
God forbid something were to happen to you, John.
I want to make sure your family is, you know, left a legacy and not necessarily a financial burden, right?
And then number three, lastly, I want to make sure any policy we find is going to be within your financial budget.
And that's basically it.
Then from here, it's just medical, um, and then explaining the policies if they qualify for everything.
So the whole reason for finding out medical first is obviously you don't want to pitch somebody in ILUL that, you know, has a stent in their heart and can't get qualified.
Can I ask a question?
Oh, go ahead, Jacob.
No, I was going to ask, um, that last part, um, you know, that script is good.
What's the transition to the application, you know, piece after you've done the pitch and obviously getting to...
Yeah, thank you for... I just want to see what that looks like.
Yep, absolutely.
So once I explain, like if I'm on an ILUL call, um, and you know, I'm still doing the two things, you know, I got to tell you two important things.
These are the most important things you can take from this conversation.
Number one, I've touched on briefly, but the older you get, the more expensive these policies do become.
Okay, so I don't know about you, John, but, you know, unless you found the Fountain of Youth over there in Texas and you're holding out on us, man, I'd assume you're just like the rest of us getting older and older every day, right?
They typically laugh, "Haha, yeah, I wish I found the Fountain of Youth. I'd be a billionaire."
Yep, and we wouldn't be talking about life insurance today.
So second point, these policies are a privilege.
What I mean by that is they're subject to approval and, uh, eligibility.
And then, um, you know, at this point, they're like, "Yeah, I'm most interested in ILUL."
Right, cool, absolutely, John.
So essentially my job here as a broker is just to figure out which companies and carriers are even going to approve you, and then we'll kind of discuss what's going to be a good fit for you, okay?
So when it comes to these policies, ideally, you want to start anywhere from three to five times your annual salary.
The reason for that is, you know, God forbid when you pass away and you're leaving this money behind to your family, you want to make sure that the income is going to be supplemented, right?
You want to make sure that they've got enough of your income replaced where they can make it for a few years while they get on their feet.
And so for you, John, you said you're making $75,000 a year.
Um, so, you know, we're looking at like... I shouldn't have said that number because I can't do the math, but whatever the math is on that.
Um, and then typically like, "Yeah, it sounds like a good amount."
And then I jump in and I'll quote them and then, um, find out what's within their budget.
Right now, the only thing that changes is if this is a, um, strictly a retirement-focused call and I know that they've got enough coverage, then this changes basically to like, "Okay, so when it comes to, uh, um, contributing to something that grows tax-free for you to build that retirement that you mentioned you're trying to build, what is it that you're looking to contribute?
Do you have any numbers in mind as far as what you can contribute to something like that?"
They're typically going to give you some kind of number, and then I'll use that number and build a few scenarios.
I'll take that number and then do like a little bit more and a little bit more and give them three options, and nine times out of ten, they take the middle one.
It's just psychology.
That's the only thing that changes.
If it's a cash value-focused call for me, my question only was, um, if our ISAs are setting it, do you use the ISA notes?
And you're like, "Hey, this is just Tyler calling you for your scheduled call. I know you spoke with Kimberly."
Yeah, I heard all about, you know, the kids, making sure that... so like just starting super warm.
I definitely recommend that.
I don't know if you do that too.
Yep, yeah, 100%.
Especially if there's something that's like that sticks out in the notes.
If it's just like, "Hey, they're looking for life insurance," some notes are better than others, right?
Just depending on how the prospect was.
But if it's super detailed and there's something that sticks out in those notes, I'm always referencing that at the beginning of the call, just like Hunter just said.
Um, and a lot of times when I get to the medical conditions, I'll, you know, if it says something in the notes, I'll be like, "Okay, so it says here that you've got, you know, diabetes and you're not taking insulin for that, correct?"
Correct.
Okay, any other medical conditions that I should be aware of?
That way they know that they're being heard.
They already went through this process.
I'm not just regurgitating the same stuff that they already went through with ISA.
Um, just to kind of clarify, so it sounds like in the intro you're just like kind of, you know, making them remember it, establishing your credibility, taking control, and then, um, kind of proactively beating all those objections of them needing to think about it and how they want to shop around.
And then you're qualifying them and then you're kind of discovering and then pitch them options, solidify, and then close.
Is that basically how it goes?
That's exactly right.
Yep, and if you can check those boxes on every single call, your close rate will be super high.
Yeah, that makes sense.
Um, does... even I found myself...
Sorry, go ahead.
No, no, mine was a little bit... I was about to say something completely different, but continue.
I was going to say I find myself sometimes being like, "Man, why did I take three calls today and not close anything?"
It always comes back to I just didn't follow my own script to a T.
Like I didn't follow my own process.
Like they ask me a question, I get off, you know, off topic, start just rambling through the call, and that's almost 90%.
If I follow that script to a T, my close rate is extremely high, 75% most likely.
If I had to look at it.
Are you building rapport in the script?
Because it seems like it's very professional and like, you know, just bottom line.
Yeah, I mean, so here, I think yes, absolutely.
There... there's always going to be rapport built, but the rapport has to come naturally.
I can't script the rapport, right?
The rapport has to come naturally in the phone call.
So that's from like, you know, for me, I'm about to have a baby here in the next 45 days or so, right?
So when somebody's like, "Yeah, you know, um, I just realized, you know, my wife, my daughter kind of gonna be screwed if something happens."
Yeah, I totally understand, man.
I'm about to have a baby here, and that... it's kind of completely shifts your perspective on life, right?
There's things like that that you can weave in the call, but the rapport cannot be scripted.
Like any kind of scripted rapport is going to be like, "Oh, how's the weather in Cincinnati?"
Like, bro, that... that sucks.
That's not rapport. That's just...
Yeah, so yeah, add rapport always, but it has to come naturally based on things they say, based on, you know, things that are relevant to you, things like that.
That's how you build rapport in the call, not from a script.
Yeah, that makes sense.
Um, I've only received... I've had this for like about like less than two weeks.
I've only gotten like 10 leads so far.
Is that... is that sometimes how it works?
Like it's just like super slow in the beginning?
Uh, I don't know.
I mean, Felipe could probably help you with that.
Um, I would message and just see how many states you have.
How many states?
Oh, states? Uh, like 14, something like that.
Okay, yeah, I mean, that's... that's probably a little low.
Um, I mean, it's not a concern, right?
You're always going to get the amount of leads you paid for, but, um, I would... yeah, I would message Felipe in your Slack and see if he could take a look at the campaign and see why it's...
I mean, it sounds a little bit slow, but not super concerning or anything, so I would just check that out.
Yep, I'll check that for you, Jacob. Thanks.
Oh, Caitlin's here too, so, uh, sorry, Caitlin, you don't have your camera on, so I'm just ignoring all these faceless people in here.
Um, you're sending Tyler's script out. Thank you for that.
Um, all right, guys, anything else?
I'm about to have to hop.
Any... any questions?
Anything?
Also, I again apologize for talking super fast today.
This caffeine is, uh, coursing through my veins, and I'm bouncing up and down over here.
No, I appreciate it. Thank you, brother.
All right, see you guys.
Let's go, Wi!
Thanks, Tyler.
Yep, bye, guys.
It was nice to see you all today.