To kick off Sell Term Life’s blog, I’ll be doing a 5 month challenge. From 6/11 to 11/15, my goal is to submit $80,000 of annualized premium.
That comes out to $16,000 per month or $4,000 submitted per week.
Why am I documenting this? For training and motivational purposes.
A lot of agents ask me about my business. This medium is a good way to keep myself accountable and show other agents how I maneuver different sales, marketing and underwriting situations.
I typically spend 4-5 hours a day selling and another 3-4 hours a day marketing and helping other agents. So I’ll be doing this sales challenge in less than 25 hours a week.
It’s Friday, so lets start with a recap of week 1.
My website generated 3 EZlife applications this week.
EZlife case #1:
Severe Sleep Apnea on CPAP. Genworth is very good with sleep apnea and can often get preferred rates, however he still stops breathing when he doesn’t use his CPAP. However, he uses his CPAP every night and has been for 3+ years. No other health issues. He had another quote for “Preferred” rates from Genworth, but I told him why he couldn’t qualify for those and he appreciated my candor. He’s submitting an application with me and his Mass Mutual agent and will take the best offer. I’ll have no problem winning this case.
$1236 AP
EZlife Case #2
This guy had an aortic valve replacement in 1998 when he was only 34 years old. However the replacement was due to damage caused by non-Hodgkin lymphoma in 1992. He’s had follow ups consistently and there’s been no other issues and everything is under control. He takes Warfarin because of the aortic valve replacement. He has a 20 year $500k term policy that he’s currently paying $3400 for that he obtained in 2005. I think he has some sort of flat extra or very high table rating. I’m bringing down his premium and extending his term even at a table 4 rating.
$2200 AP
EZlife Case #3
This lady has osteoarthritis and doesn’t need to take any medications. She’s currently paying $750 annual since 2005 with New York Life and is tired of paying so much. With her minor arthritis, Transamerica go Standard and I’ll increase her term by another 7 years. We talked about a conversion when she retires to a smaller policy.
$478 AP
My referral source generated 3 Fidelity Life Insurance Applications that are already placed and I’ll be paid next week on:
Total: $1033 AP
Also noteworthy is I quoted a $10,000 premium case for a man with COPD that still smokes with an FEV of 49%. I “quick quoted” 5 different carriers and all of them declined except for 1. So I have this quote in writing from Pru. I established a good rapport with him and genuinely like the guy. I hope to see him on next week’s application report.
It’s a good start to my challenge. Total Premium Submitted this Week: $4947 (already placed $1033 of that premium!).
