How To Make 6-Figures Selling Life Insurance (LIVE Q&A - Ep. 11)

Alrighty. What is going on? Ladies and gentlemen, it is Tim here from Advanced Agent Marketing. And in this video, in this training of how to make six figures selling life insurance, I'm going to be talking about something that is very, very interesting and a lot of agents don't really know about or think about, which is basically the two key hires that you need to make to. To go from.

An insurance agent to an agency owner, right? So that's basically what I'm going to be talking about today in this live training, is the two key hires that you need to make to go from hitting the phones every single day, selling policies and basically like doing a lot of that outbound work to basically transitioning to a place where you're able to kind of take your foot off of the gas and let policies come to you instead of constantly chasing, Right? So without any further ado, let's go ahead and jump right in. So I'm going to be sharing my screen here and I'm going to show you guys this whiteboard and I'm basically going to be breaking this down. Cool. So essentially, whenever I first got started in the business, what I used to do is I would get, you guys may have heard the story before is I would get a stack of paper mailers, right? And I would essentially go out and knock on doors. So I would get all of these little free Walmart gift cards and free Walmart gift card mailers, which is basically, if you guys don't know, it's somebody who sends in a lead card trying to get a free Walmart gift card, right? So I get a stack of these leads and I'd go out and knock on doors and I would drive, you know, two and a half hours to random cities across North Carolina, go knock on doors and try to sell policies. So as you can imagine, this took a lot of manual effort, right? Took a lot of time I had to spend. Like I was essentially trading time for money at a higher level, right? So after doing this for a while, I realized that in order for me to get to the next level, like, what I needed to do is start leveraging other people's time to do part of this outbound for me, right? So essentially what happened is, you know, me and Julian, we were going out every single day and we would basically sell from Tuesday to Saturday, right? So we'd go into the office on Monday, we would get a stack of these leads, and then that night, Monday night, we would call through all of those leads and set appointments for that following week, right? Then we would go out, drive, obviously, knock on doors, and go and sell policies. Now, what we realized is that we would have a very, very successful beginning half of the week. And then once those appointments that we had set on Monday started to taper off, so would our sales. So, right. So what we learned and what we decided to do is, hey, what if instead of us being the only people who are setting appointments for ourselves, what if we hire employees? Appointment setter. And that's essentially what we did. So we were going out, you know, and we would basically have appointment setter call our leads for us and set appointments, which we would go and see in the field. Now, the problem with this and what ended up happening is we were paying, I believe it was like $25 per set, regardless of if they showed or not. And what happened is we would end up going to these appointments and, you know, you'd go and you'd talk to the person and you would just realize, like, the expectations from what the person had been told on the phone versus what you were there to sell were just wildly off, totally different from what needed them to be in order to have any chance at closing a policy. Like, you would walk in and immediately they'd be like, okay, where's my gift card? Like, what's right here? But, you know, I'm just basically gotta ask you a couple questions to see if you qualify for this, you know, program that you requested information on. It's like, oh, no, I literally just wanted the gift card. Like, the person I talked to on the phone, they said that I could just have this appointment, get the gift card, and then we'd be good to go. And then, you know, I would just be sitting there holding the bag. You'd have to give them the gift card anyway. And when you told them it was $5, they were just pissed. It's like, what did you expect? A $50 free gift card just for sending something into the mail? But that's what they expected, right? So when we hired this. This person, the expectations were completely misaligned, right? And so we ultimately ended up, like, not moving forward with this appointment setter. So we hired an appointment setter. And then we completely, like, stopped doing that. And then what happened was the second problem we ran into is that we would be writing all this business, but there was so much work on the back end.

Like, for example, if you guys have ever written a Transamerica policy, I mean, you know, this, there's a million forms that you have to fill out and send back and do all These different things. Whenever someone actually like buys a policy to get the policy even approved, not to mention you're going to have things like, you know, someone could charge back, right? You got the back end stuff, the chargebacks, the admin work, the beneficiary changes, all of these different things. We're basically sucking our time away and taking us out of the field, right? So what we realized, and this is flash Forward to about six months ago when Julian was selling about $40,000 per month consistently over the phone. So basically what would happen is it would be like one month was 40k.

And then.

The next month would be like 30k, right? And then the month after that would be like 25. And we're like, what on earth is going on? Like, what is causing this dip in sales, right? I mean, 25k is still a very good amount of insurance to be sold in a month. But there would be these like fluctuations from month to month. And we were trying to figure out, okay, like, what is causing this? Why are the sales going down and going up and whatever. And what we realize is that as a producer, you only have a set amount of time in the day. And so when you sell a bunch of policies, right, you sell $40,000 worth of business. Now your time is spent on this stuff. If somebody wants to cancel, you got to call them and save the charge back.

You know, there's, there's admin work. Hey, you know, I need to change my bank, I need to change my card. And then you got to call the carrier with them, right? You got to call the carrier with the client, change their bank over, change their card, whatever, right? All of these, like random situations that pop up and this just totally sucks away your time on the phone. Which is why we realized that in order for you to have consistent months, right, where you're selling, you know, 40k a month or even 20k a month consistently, you have to hire an assistant, right? So when we first, like when we first started doing this, really, okay, we need an appointment setter to set the appointments for us. But then the problem is, like, when you hire an appointment setter too early, they're calling all of your leads for you and they're setting misaligned expectations, right? So we realized that in order for you to get from like independent agent selling in the field to somebody that has a real business, like you're an actual agency owner, the first thing that you need to outsource is the back end stuff, right? Again, that's the chargebacks, the admins, how many Times do you, like, get a phone call from a client that wants to just like change something on their policy, or you write the policy and there's some paperwork to fill out, you got to chase the client back down to get it done all the damn time, right? So in order for you to have more time so that you can just spend your time on the phone with people, you have to hire an assistant, right? So when we hired an assistant, our sales immediately increased because now all of the time as a producer is just spent getting new clients, right? So typically what I see is a good time to hire an assistant is when you've been writing about $20,000 per month for two to three months in a row, okay? Because what's often going to happen is the back end work is going to bottleneck you from getting to the next level. So 20k a month for two to three months in a row, okay? That's when you hire an assistant. So once you hire the assistant, this person's going to take over chasing chargebacks. You can have them do payment reminders for all of your clients. So they basically call the people that you sell to do a payment reminder to make sure and basically kind of avoid these chargebacks, right? So payment reminders. And then the other thing you can have them do is like, you know, random paperwork, like policy stuff, right? So policy changes. This essentially becomes like your customer service rep for your clients, right? You guys may be saying, like, cool, well, how much do I have to pay this assistant?

In all reality, you can find somebody super solid for about 10 bucks an hour. And you can hire somebody from like the Philippines. You can hire somebody from South America. Usually, whenever I hire, like an assistant or a va, I usually hire from the Philippines. So you can get this person for literally $11 an hour, which is just absolutely insane, right? So the question that you need to ask yourself as an agent is like, if you are still calling clients to basically save chargebacks, or you're still calling the carriers to like, do different things, you need to ask yourself, is your time worth more than $11 an hour? And if the answer is yes, which, good lord, it should be, right, if you're actually selling policies, you need to hire this person asap, Especially if you're spending time doing this, because not only is this person going to save you time, but they're also going to save policies that you wouldn't have time to save, right? So this assistant, hire them when you're at like 20k a month for two to three months in a row, 11 bucks an hour and you can find somebody like this on upwork or onlinejobs.ph if you guys need help with this, let me know. I can potentially like make a video about it or you guys can message me as well. So hire an assistant, right? This is the first hire you need to make. A lot of people get this wrong and they try to hire an employment setter first. The first person that you need to hire is an assistant, right? So once you'd hire have hired an assistant, the next person you want to hire is an appointment setter, right? Now let me really quickly explain why. Because a lot of people get this wrong because they hate dialing and the first thing they do is they go and they hire an appointment setter. You don't want to hire an appointment setter first because chances are you don't have enough leads for them to call. The most valuable thing that you can do as an agent is either making calls or talking to people, right? The most valuable thing you can do as an agent is A, making calls or B talking to people and selling policies, right? So if you outsource that first, you're adding a lot of like, you're adding a lot of variability to your business because what if this appointment center doesn't perform? What if not actually send like setting the expectations properly? There's so many things that come into play, which is why the first thing you want to outsource is the back end stuff. The stuff that doesn't make you money because the calls do make you money. When you want to hire an appointment setter is when you have a high volume of leads to where the appointment setter can call your older leads and you can focus on your newest leads and your appointments, right? So essentially the way that this works is you'll have u, right?

And then I'll just say setter here. So you have you and then you have the setter, okay?

So essentially what you are going to do in the very beginning is you're going to focus on.

New leads. Just say NL new leads.

Appointments.

AP.

T. I'm just gonna say that for appointment. This is terrible drawing, but I'm drawing on a laptop so you're gonna have to bear with me here. But you're gonna be working new leads, appointments and then no shows, okay?

New leads, appointments and no shows, right? This is what you want to spend your time on. And then also. Oh God, this is the freaking key right here Is referrals, right? Is referrals. So new leads, no shows, appointments and referrals. That's what you're going to be spending your time on now. Your setter is going to be calling leads that have already been called like multiple times. So these are leads that you've already called like more than 11 times. So leads, 11 plus, right? So this is leads that have been called 11 plus times. So what your setter is essentially going to do is they're going to send you two types of opportunities, right? The goal is always a live transfer, okay? The goal is always a live transfer and you can actually very easily set it up inside of like go high level where somebody can just send you over a live transfer. It's like the easiest thing in the world. But your setter first priority is a live transfer, right? And the reason why is because when you set an appointment like spoiler alert guys, the show rates on appointments like across all industries is terrible, right? Like I'm Talking about a 60% show rate is good for like working professionals, for final expense clients. A 30% show rate is good meaning that you always want to go for the live transfer first. And if they can't set the, like can't send it over immediately, then you're going to set an appointment and you're going to call to confirm the appointment.

You're going to call and text to confirm the appointment. The other thing too, like whenever you have a setter, you can also like double book these appointments to like have more opportunities. Because if you just like single book your calendar out and yet let's say you have eight appointments, at least five of those probably aren't even going to show. So it'd be better if you double book them and just have like more appointments on calendar so that anyone who doesn't show, you have somebody else that you can talk to. Right. Hopefully that makes sense. And that's essentially what the setter is going to do, right? Is they'll send you over these live transfers and then they'll send you appointments as well. So your time, you're just focusing on the hottest stuff while your setter is like pulling more value out of your, out of your existing leads in your list. Which just means that you get so freaking busy like either talking to new leads or talking to transfers or appointments that like you're writing policies all day long, right? So that's pretty much the system here that is like how you want to structure this. What questions do you guys have for me about how to actually implement this, what this looks like on a day to day basis? Drop them in the comments down below. And I'm Happy to answer.

And like, while you guys are dropping your questions, I'll just say this. The thing about this business is like when you first get into it, it's, it can be kind of like frustrating because the only time you make money is when you're spending your time outbound dialing, right? Or you're spending your time calling leads, right? But what happens over time is when you start making sales consistently and you kind of like validate this for yourself. You can start to bring on these hires, right? Like hiring the back end person to take all that stuff off of your plate, hiring an appointment setter to call a lot of your leads for you. And then what's really cool is your sales will actually bring you more opportunities, right? So let me just show you guys this. Oops, where'd we go?

Your sales will actually bring you more opportunities. So what happens is whenever you guys make a sale.

A few things will happen, right? So one, you're gonna ask them for a referral, right? So you're gonna ask for a referral. A percentage of people are gonna give you a referral, which is just an extra sale, right? Percentage of those referrals are going to give you more referrals. And hopefully you guys get the picture. Now what happens is after a period of time, all of these sales that you make are going to have birthdays, right? So every single year, surprise, surprise, everybody has a birthday. Now the other thing that happens whenever someone has a birthday is their cost to get life insurance increases, right? Every year the cost increases. Each year you get older. So for all these people that have birthdays, our system will automatically send them a B text one month before their birthday. So what this does.

Is basically you're reaching out to every single client that you've sold to offer them more coverage at a discounted rate because again, once they turn one year older, the price is going to go up. Meaning that once you have 300 clients, right? Or 365 clients, to be specific, you have a birthday text going out to a client every single day of the year. Meaning that you're getting an opportunity to add more coverage to that client or get a referral or sell them something else or whatever every single day. And that's once you have 365 clients. Talk about once you've been doing this for maybe two and a half years and you have a thousand clients, then you have three of those going out every single day, right? And what happens is like the people that are in this business for the long haul that stick with it. And they have these, like, these key team members that are also doing a lot of the grunt work for them is the compound effect just gets crazy. Right. So you have the birthday and then you also have the policy anniversary every single year. You want to meet with your client and review their policy. Hey, do you need to make any changes? This is also an opportunity to ask for referrals. Is it also an opportunity to add more coverage on like the, the growth is exponential when you do this. Right. Which is how you go from just being like a regular old insurance agent that's making, you know, $500 a day and just hoping to make six figures one day to an agency owner that actually has a book of business that pays them every single year and they're able to farm more and more and more clients off of that. That's essentially the way that you guys can like just crush a six figure income doing this. So I see we got a question from Kristen. What do you do when you double book and they both show show. If they both show what you could do? Like, I mean, the first person you call, because you're going to call these people, it's not like you're doing a zoom appointment. The first person you call, you just go through and while that person's on the phone, you just text the other person, hey, I'm running a few minutes late. My other appointment is.

Running a bit over. I'll just give you, I'll shoot you a text and then call you as soon as this one's over. Thank you for your patience. Like, it's that simple. You don't, you don't even have to overcomplicate it. You just send them a text. Hey, my last appointment's running over.

I'll give you a call as soon as it's done. Thank you for your patience. And you know, people are pretty receptive to that. Never had an issue with it. Awesome. What other questions do we have here, ladies and gents?

Can you guys see yourself doing this? Or would you rather just basically be like an independent agent who has to basically do everything every single day?

Let me know. But I will tell you guys, like, when I started treating insurance more like a business and instead of like a side hustle, I guess you could say.

My income is just drastically changed. Drastically changed. When we started basically acting like agency owners instead of like agents, like, the, the, the doors opened up and everything has just gotten so much better in terms of how much we're able to write and the lifestyle that you're actually Doing while you're selling insurance is just drastically different when you are treating it like a business and you have people that are, you know, helping you with the back end and all the. All the different stuff like that. Let's see. Thanks. I would, but I'd have to get traction on leads. I don't currently have a set of clients to farm like this. Yeah, I mean, that's totally fine. Basically, like, so to give you a little bit of context, this is like the end goal, right? This is kind of the end game. You obviously have to start off getting leads and making sales and doing it yourself. This system that I just showed you is kind of what you progress to so that you can grow it and really build this into a business. Right. But you start off first. You need leads, obviously, right? Because if you don't have leads, like, you can't call leads and nobody can call leads. So you got to get leads, and you got to get consistent, quality leads. So I'll just say C Q leads, right? Once you have that.

My handwriting is terrible on this. So once you have consistent and quality leads, then you basically just need to do a lot of activity. And you also want to have a system that will help you work this. So activity.

Plus a system, Right?

And then once you have those two things, the last piece is just having a systemized sales process so that you can turn all of these leads and all of this opportunity into sales. Right? So systemized sales.

But what I've found, because you're talking about leads, is like, the best way to do this is with Facebook ads.

Because the cool thing is you can use Facebook ads to sell.

5K a month, or you can use Facebook ads to sell 5k a day. It's like infinitely scalable.

And no matter how much business you're trying to write, you can use Facebook ads to get leads in order to do that, which is pretty much what we help our clients with. So if you need help getting leads, let me know and I can I continue a video that kind of explains how we do that. But yeah, that's. That's the first piece. So without leads, like, nothing else matters. But once you get this down and you're selling on your own, then you can progress to this, which is ultimately where everyone wants to get to. Because, like, when you can make money without having to do everything, it's just so much better in terms of quality of life, how much money you make, and everything else. So hopefully that makes sense. Kristen.

Yeah, exactly. Julian says, started off with limited capital and nothing but A Facebook account and a phone. And like that's all you need is you need leads, you need a phone and then you just need a script that you can call them with and just make calls and then kind of get better over time.

And then you progress from there and build and build and build.

Cool. What other questions do we have, ladies and gents?

What do we got? What do we got?

Going once, going twice.

Three times. Let's see how to get Facebook leads to go load into Go High Level with tags.

Basically, like with Go High Level.

You.

Sorry, I saw Julian's question. It's a really dumb question. How do you get Facebook load into Go High Level? So basically you have to integrate Go High Level with Facebook. So it's like pretty easy. You can just look up a YouTube video that shows you how to do it.

Once you have your like campaign set, then you just go and it's like an integrations tab and then you just map the fields that you want to come in. And then if you want to add tags, you can just make an automation to add tags.

Hopefully that makes sense. It's a little bit more of like a technical question than I usually get on here. So with just words. I hope I answered that to the like, to the degree that it made sense. But yeah, let me know. Why do you wear headphones over the hat? Because why would I wear hat over headphones? That wouldn't even make sense.

Like logically it would just look really, really stupid. So that's why.

Yeah, cool. Awesome. So guys, you need help with getting Facebook leads, let us know. We basically can set up all of your ads for you, run them for you. We do literally everything so that all you have to do is focus on closing and we can basically show you guys exactly how we went from this to this to where we are now. Have our own agency and we have people that, you know, do most of the work for us and we can kind of just focus on like the higher level stuff with the agency. If you guys are trying to do the same thing and you want to get to a point where you don't have to, you know, make $500 a day to make six figures, I'm going to include a link down below so that we can help you out with this exact same system that we use. So I'm going to drop this in the comments here and if you guys are watching the replay, this will be in the description.

Cool. Well, hope you guys have a great night. If you guys have questions, comment them and we'll be here to help. Take care y'. All. See ya.