This type of health insurance lead generation typically generates a higher quality of leads, but in many cases takes more time and effort. Most of the time this extra effort will pay off in a much higher appointment count and a more stable health insurance sales business.
This type of health insurance leads are the most expensive but the easiest to work because the prospect is actively shopping and looking to buy health insurance.
Allthough many of these prospects are price shopping, you will also find a lot of these prospects needing to get some type of health product due to changes in circumstances such as financial, employment situation or health condition. This creates a sense of urgency for your client.
HOMETOWN
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This method of health insurance lead generation is the least expensive, but the most work intensive, and is a good supplemental start if you have a limited startup budget as a new health agent.
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In helping new agents to succeed in the health insurance business I realized that it would be good for them to have a source of reference to look at to get ideas and develop better methods of doing business. Many new agents do get initial training but are so overwhelmed by new information that they can not possibly retain all the information they are given to start off with.
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Out of the blue the older agent I had worked with at the captive health insurance agency called me to see how I was doing. I told him about my situation and how fustrated I was with selling health insurance. He told me that the agency had crashed hard but now he was a manager and that they were rebuilding the agency, from the ground up, the right way…
I had started out to be an independent insurance agent and tripped over my own feet doing it. I had gone from writing enough health policies to get by on a weekly basis to flat broke and unable to get going in just a matter of a few months. I needed to find a specialty and get good at it fast…
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Free at last! I started down the path of being an independent health insurance agent with great enthusiasm and determination. I was ready to be my own boss and I knew that the skills I had acquired would serve me well. Little did I know I was treading in more dangerous waters and this new sense of freedom and lack of structure had my new health insurance business going off course like a ship without a rudder…
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The pressue within the once strong health insurance agency was starting to cause obvious fractures that were beginning to show. Most of the more experienced health insurance agents had already left, trying to find a better agency and it was obvious even to the new recruits that this agency just was not the place to be…
HOMETOWN
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prev: My First Attempts at Advertising
Things were starting to come together after my first 8 months as a health insurance agent. I was starting to write a decent number of policies, enough to clear over $500 weekly after expenses, but my home life was suffering as a result. I needed to find a way to make the same production in less time…. (more…)
I had now been a health insurance agent for four months and was barely hanging on. I was spending the majority of my time calling leads but that was not cutting it. I had to figure out some effective ways of generating my own leads… (more…)
I was now beginning to set better appointments and bring in more income but I still was barely clearing $350 a week after expenses. My agency had also changed drastically over the past month and I did not realize how this would impact me as an agent… (more…)
I had now been a health insurance agent for one month and was having better results than I had started with, but I was going to have to start producing more business to pay my bills. I noticed a group of several agents, all of which had been with the company less than a year, were making really good money and turning in many applications each week, yet they didn’t seem to be working very hard to do it.
HOMETOWN
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I was regrouping from my first week of disappointing appointments but I was happy I had my first sale under my belt. I now knew my manager would start giving me new leads to work on and my business would be humming right along. Little did I know that all those people who were waiting on my call were being called by everyone and their brother…
So I set forth to travel the highways of my area to make my fortune: It turned out to be a good lesson in the realities of being a health insurance agent…
My manager had offered to run my first several appointments with me but when I gave him my appointment schedule he told me his schedule was already filled up. I understood because he had to write business himself and manage 12 other agents, four of which were new.
Here is how my first ten appointments went:
1. The Pit Stop
Sounds like a gas station doesn’t it? Well it turned out to be a real pit, it was an adult newsstand. I told myself this guy needs health insurance too and went in. I found the fellow sitting on one of three sofas aranged around a large plasma screen. This guy had to have weighed 400+ pounds! He had what looked like a grocery bag full of egg McMuffins and was cramming them whole into his mouth. I knew there was no way to get this man approved through underwriting so I talked to him about a discount plan. He was not interested, got upset with me, and threatend to call the state insurance comissioner on me! I got out of there quickly and went to find somewhere to get a can of Lysol. Needles to say I havent been able to eat an egg McMuffin since…
2. Stood up
3. Stood up
4. Wanted real health insurance for $50 a month
5. Uninisurable by my company: weight, HBP, Insulin dependent diabetes, rhumatoid arthritis
6. Uninsurable by my company: currently pregnant
7. Stood up
8. Small business owner who could tell I really didnt know what I was talking about. No sale.
9. I showed up at this house and there were cars in the yard. When I knocked on the door no one came so I called on my cell phone. I heard the phone ringing in the house and a man picked up. I told him who I was and that I was on his front porch. He hung up on me and never came to the door.
10. Finally my first sale. Twenty something young woman, in perfest health, living with her parents and they were paying for her insurance. I wrote her a policy for a $170 month premium.
When I calculated my advance I was at $250. So for that week I had spent $100 in gas and made $250 in advances for a net profit of $150. Pitiful but I was happy I had made my first sale…
next: Learning From my Mistakes
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During that first week we all began awkwardly called these old leads using the call script. We waded through numerous disconnects, hang-ups and the nemesis to all telemarketers: the answering machine\voice mailbox. When we did get someone on the phone they usually had no idea who we were or why we were calling them. Two more of the agents I started with did not last the first week.
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