How To Make 6-Figures Selling Life Insurance (LIVE Q&A - Ep. 10)

What's going on? Ladies and gentlemen, welcome to another how to make six figures selling life insurance over the phone live Q and A. I'm here with my co host and business partner Mr. Julian Polito. What's going on?

What's going on Shimothy?

Not too much man, just been in calls all day trying to help agents make six figures and talking to a lot of people that are trying to get some time, location and financial freedom. Just tired of being tied to a desk job, tired of being a tied to a call center or door to door sales and just trying to put as much out there as we possibly can and make it happen for them.

Cool. Love to hear it, man. Well, there was, there was something very interesting that happened in our group this past week and we should have a video coming out pretty soon about it, scheduled to be filmed on Friday. But basically we had an agent come and join the group and basically on the third lead that he got, he wrote a policy but not only did he write one policy, but he actually wrote three. And I wanted to basically take this live stream to talk about the strategy that allowed him to write 8, $300 in annual premium from one single eight dollar lead, which if you do the math it's like an 8,000 return or no, a thousand times ROI, which is just absolutely ridiculous. So I want to talk about referrals because ultimately what this agent did is he made one sale and then he got two referrals from this one sale and sold both of the referrals. Now those two referrals are also supposed to give him more referrals where he could end up writing, you know, 10, 20 plus thousand dollars from one single lead. So Julian, kind of walk us through. What has your experience been with getting referrals for life insurance? We can kind of share our system for how we actually go go about doing that.

Well, I first started with getting referrals when I was doing door to door direct mailers because the commissions were pretty skimpy and yeah, to say the least. And with these skimpy commissions I was pretty much trying to figure out how I could make more sales without having to spend more money or more time on the road. And I got really good at this by when I was in person. What I would do is I'd like call the beneficiary with the client and I would actually sell them a policy.

Yeah.

And so this is how I actually started getting good at referrals. And so I basically would call, I'd be like, hey, I'm gonna Call her and let her, I mean her, him.

Whoever the beneficiary was, unless it was.

A spouse, but usually it was a younger, you know, their kid. Like, hey, you know, I'm going to call your kid real quick and I'm going to basically tell them how, you know that you just got insurance. I'm not going to tell them how much, don't worry, they're not going to kill you. And I'm also going to help them to understand that they have my contact and if they need to reach out to me, they can do that. And from there that's pretty much how the game kind of started. And I just started doing more and more of that and then it started happening where people would then occasionally call me with a refer. Hey, my, my brother needs this. And like it does, it doesn't start that way. And if you wait for it to be like that, like if you never ask, yeah, it's not going to happen. So you have to proactively create the relationship that like this is a referral based relationship. I'm going to help everyone in your life and I'm going to help you. And that's more or less how I figured out how to do referrals. And it led to a lot of profit and ultimately less cancellations. And overall just a better quality of conversation because I've already sold the mom and the dad and they're like, oh, you're the family insurance man. So it's pretty cool.

Yeah, well, I mean like ultimately the game with insurance. Can you see my screen here, the little Canva whiteboard?

No, we can't.

Yeah, so you get like one initial sale right here. That sale branches out. Let's say you get a referral from this person and then this person gives you a referral and then you make a sale here and then let's say this person gives you a referral. Maybe this person doesn't give you any referrals, but this person gives you a referral.

Let's say they don't even buy. Let's say the second one doesn't even buy for the sake of this example. X. Yeah.

But like when you start to get good at this, like it's not that. The thing is it's not that every single person is going to give you a referral. What it more so looks like, let me just erase this here is like it's one repur, one person that maybe gives you a referral and then that person gives you like, you know, six referrals. It's like Everybody in the family and the grandkids go and buy life insurance from you.

I've actually got a quick story on this.

Yeah.

That I think is super huge. There was a lady that I sold a policy to.

Oh man, it was probably.

A year ago now. Okay, maybe a little bit longer. You'll know exactly who I'm talking about. Policy. And she, she canceled it and ghosted me. And I think I called this lady like nine times a day for like a month. And when I get her back on the phone, I finally find out that she had purchased.

Another policy with a two year waiting period. And the only reason why was just due to the simple fact that she hadn't heard back from mine on underwriting. And by the time she did, she already canceled it. So she was basically withdrew it. I called her back so many times, ended up getting her on the line and she eventually says, hey, I need insurance for myself, I need insurance for my.

Husband, and I need insurance for my granddaughter. And this ended up turning into over. It's now at this point, I think.

At 9k in commissions because of the way our comp is structured. And.

Then she tried to refer me her daughter, but then she got weird and, you know, we never got back together on that for whatever reason. So ultimately though, that was one deal.

And if you think about how crazy that is, that was only three sales. The people that give you the six referrals, and this isn't that, are the actual banana ones.

Yeah, well, I mean, the agent in our group that we're talking about, I mean 8, 300 from one referral or from one lead, three sales, already more to come. So, like, tactically, I want to talk about like, what the strategy actually looks like, because there's a couple different ways that we get referrals. And like the biggest thing like, of you guys that are watching right now, who here is actively asking for referrals? Like, who are actually asks. Just comment. Referral. If you're actually asking for referrals at the end of your sales.

And let me clarify by saying asking as in name and number, not that crap where you're like, oh, this is my number. You can tell your friends to call me on it. Or if you're like, if you're somebody who sold face to face, this is my business card. Please hand this to someone. Like, that's not asking for a referral. Let's just be totally clear for a second.

Actually actively asking them for someone's phone number and their name and even their email. I asked for emails yeah.

So I'm going to share my screen and I basically, I'm going to kind of like, let's walk them through what this referral process. Like, the asking of the referral actually looks like. Because I think the biggest thing is, like, I think the reason a lot of people don't ask for referrals is just because they don't know how or they feel uncomfortable doing so 100%, I.

Would agree with that.

So I want to kind of show you guys the process as far as how you actually do this so that there's no, oh, well, I don't know how to do it. I'm not comfortable with it. Like, if you just follow this process, it's seamless. So, Julian, do you want to be the agent? I'll be the prospect.

I was going to suggest some role reversal here, but, yeah, that's fine.

Cool.

Cool. Now, Tim, before we get wrapped up here, there are three things that you need to remember. So number one, and it might even be worth writing this down, your policy is going to arrive in the next five to 10 business days.

Number two, if you were to pass away the day after you make your first payment to Mutual of Omaha, your daughter Sarah is going to get paid the full $25,000 that we talked about here today. And last but not least, your first payment is set to come out on October 3rd when your Social Security check hits. What questions do you have for me about the last three things we talked about?

None so far.

Perfect. And then before we jump off the phone here, I do want to make sure you have my direct line in case you ever need to reach me for whatever reason. Do you have something to take my number down with?

Yep. And then we can just kind of skip through this part.

Let's go here. Cool.

Usually, most of my. I think. I think we should maybe go through that last part. I'll speed run it, but just so they have context on, like it's not an awkward transition. Yeah.

Yeah.

So perfect. Here's my number. Tim, let me know when you got it. Got it. Awesome. My assistant is going to also give you a call so that you, you know, you have a second point of contact here as well. Her name is Assistant. I just wanted to give you a heads up.

Okay, cool. Kasha, you're the best ever. Thank you so much. Blah, blah, blah.

Usually, and Tim, usually, most of my clients ask me to do a free consultation with either a friend or a family member.

So that they also have the chance to protect their family's future. Do you Have a person in mind that you think could benefit from going over something like this.

Say, I'll say yes. And then let's say I say no.

Cool.

So, yeah, I do.

Perfect. And.

Who would that be in your life?

My daughter.

Beautiful. And what's her name? Just. Is this Lisa or is this the. Is this another daughter that. I didn't put their name down.

No, it's Lisa. Beautiful.

Beautiful. And then I just wanted to make sure that. That I have Lisa's contact information. Correct. Can you confirm her phone number for me, please?

Yeah. One, two, three. ABC. Efg.

Amazing. Now, side note, pro tip, you can also get this oftentimes on the application.

So you just can have them confirm it like I just did. Now let's say that you go through and you say, no.

No, no.

Nobody comes mine back. I'll let you know. Someone does.

Perfect. Perfect. And.

Just to be. For the sake of the role play, Tim, do you want me to, like, overcome the objection or do you want me to just jump to five. Five star level service and ask for the review?

I would just, like, try to get the referral, like, if it. Because a lot of times people ask for referrals and someone's just like, yeah, I don't have anyone in mind.

Okay.

You usually push extra or you just let it go and follow up later.

I usually. I usually push back a little bit and then like, if they give me a second pushback, I'll just follow up on it later. I don't want to make it weird, but. Yeah, you know, Got it, Got it. No worries. Yeah. And usually this is typically someone who's like in their same age range or maybe even like a daughter or a son that maybe they're younger, they just started a family. Is there anyone in, you know, specifically, or I guess who specifically in your life would kind of fit that profile where maybe they need to take care of their family's future too, and they just haven't thought about this.

Who comes to mind?

Well, I mean, I know my cousin was talking about how her insurance was just getting crazy expensive.

Oh, my gosh. And I guess, like, with her insurance, is it like, going up in price or.

Yeah.

Oh, I've seen this many times. It's very concerning because, I mean, a lot of those plans even expire at age 80. And I guess, like, how do you think it would be best for me to reach out to her?

I mean, I can probably just give you her number.

Okay.

Yeah, I could.

I can take that down here, let me see. I'm not sure when I'll be able to get back with her on this, so I might just have to shoot her a text or something. But I'm ready for that number whenever you are. What's the area code?

1, 2, 3, 4, 5, 6, 7, 8.

Perfect. And the rest of the phone number?

9, 10, 11, 12.

Awesome. And then obviously we've covered a lot today.

You asked me to reach out to.

You know, Lisa, your cousin here, and to make sure that, you know, if. If it's possible for her to save some money on her insurance and not have to end up with a situation where her family doesn't get paid. I'm going to make a note of that here as well.

But is there any other questions that.

I can answer for you to offer you a five star level of service today?

I don't think so.

Amazing. Well, Tim, it's been a pleasure getting to know you if you do come up with any questions. You said you had my phone number down, correct?

Yeah, I do. I got it right here.

Beautiful. Now don't ever hesitate to pick up the phone and reach out to me if I don't pick up the phone or if I don't answer. I'm not being a jerk. I promise. I'm just on the other line and I'll get back to you as soon as I can. Sound good?

Sounds good to me.

All right, Tim, thank you very much. You have a good one and I hope you have a blessed day. Take care.

Awesome. So that's obviously asking on the front end if they don't give it to you on the front end. The really cool thing is you guys can do some crazy stuff with automation where basically like after you've made the sale, I'll just have S means sale. Right? So you've made the sale. What we do automatically is we send out a hand written card, handwritten card, right. So we make the sale and then we send out a handwritten card. Automated. Now this usually takes about two weeks to arrive, right? So then two weeks later.

We'Re gonna do a follow up check in call with the client, right? So we're gonna roll through what's called an NPS survey. So we're gonna call up the client two weeks later and we're gonna do an NPS survey, right? So we've just sent them this handwritten card. That's super, super nice. Hey, thank you so much for doing business with us. You know, we really appreciate you. Feel free to reach out if you have any questions, blah, blah, blah. Right. So we're going to call them up. We're going to do an NPS survey. Now. Let me show you guys what this actually looks like.

Wait, wait, wait. Hold up, Tim.

Hold up.

Are we really throwing this much sauce on a Wednesday afternoon on this live right now?

I think we are, yeah.

Oh, my gosh. Dude, are you guys sitting down right now? If you're not, sit down for this because you're about to make some more money.

Yeah, no, this stuff gets crazy. So let me show you guys how this works. So let's say I call a Julian. I'm the agent. He's my client. Hey, Julian. What's going on, man? I just wanted to call. You know, I know it's been a couple weeks since we last spoke. One of the things that I'm always trying to do as an agent is just, you know, constantly get better and serve my clients at the highest level possible. I just had a couple quick questions for you on, like, your experience working with me as an agent so far. You got five minutes real quick. Just kind of run through this.

Sure.

Cool. Awesome. So, you know, I'll just put in whatever. Put in your info. Awesome, man. So the first question that I had for you, on a scale of 1 to 10, how well do you feel like you understand your insurance policy and how it works?

I'd say like a seven.

A seven. Okay, cool, Cool. And just to clarify, what makes you say like, a 7 versus a 10? I want to make sure I can answer any questions for you.

I actually.

I just. To be honest, I had lost your phone number, and I didn't know how my kid was supposed to file the claim.

Yeah.

And I'm glad you called me because I'm going to save it now. But I got distracted and I wasn't really sure how she's going to get the money.

Yeah, 100%. And then I would obviously just give you my number, walk you through the claims process. But right there, I just saved a charge back just from asking that one question. Awesome. And, you know, on a scale of 1 to 10, how would you rate your overall satisfaction with, like, the service that you've received thus far?

And let me pause this really quickly. I've actually had this conversation, and they will actually tell you, like, a six or a seven sometimes. And you can actually save chargebacks like this? I'm literally speaking from personal experience, just to be totally clear.

Yeah, it's like one of the highest ROI activities you could do.

100. So, yeah, I'd say overall.

Satisfied.

I'd say I'M probably like, a 10, honestly.

Cool.

Great job, Tim.

I love to hear that. I really appreciate it. And the other question I have for you, on a scale of 1 to 10, how likely are you to, like, recommend me to a friend or maybe a family member?

I mean, a 10. If I knew anybody that needed this, I would totally.

I would totally tell them about you.

Yeah, I love it. Well, how do you feel like I was able to help you the most?

Honestly? Just giving me peace of mind. The fact that I, like, don't have to worry about this burial gig anymore is just really nice because I had a. If y' all don't know if you remember our conversation, but remember, my cousin died and he didn't have barrel insurance.

Got it. Got it. That makes sense. So kind of just giving you peace of mind. Well, you know, Julia, one of the things that's really important to me, you know, as an agent, and you've obviously seen the importance of life insurance, is not only making sure that you're protected, but that other members of your family are protected as well. Right. Because obviously, if you pass away, they're protected. But what if they pass away? Are their kids protected? And other, you know, other people like that. So, you know, one of the things that I always like to do is just make sure, again, the whole family is protected. So with your kids, you know, do they have any life insurance in place on them currently?

I don't think they're protected.

They're not protected. Got it. So then I would basically go through, get their name and number.

Right.

And I'm kind of, like, giving him suggestions because he already told me, like, I don't know anybody, but he definitely knows people in his life that don't have life insurance. They're just not coming to mind. So, like. Like, you know, maybe your kids or, I don't know, does your spouse have coverage already as well? Like, I'm going to kind of run through these different people to basically find opportunities, and then once I find those opportunities, I'll just say perfect. And, you know, what would be the best way. Like, what do you feel like would be the best way for me to reach out to them?

Well, if you could come in person, that would be perfect. But I know you're living in. On the other side of the country, so I can just give you their. Their number.

Perfect. Yeah. Yeah. And then I'll just go through. I'll write down all the names and numbers, and I'll hit them up with the referral script.

Bingo, bango.

It's pretty simple guys like the key is like just actually asking the questions and then like if they tell you that they don't know anyone that has insurance like run through like for most people the ones that would come to mind are like close friend that doesn't have coverage. Kids that probably don't have coverage maybe they have something through work but most of the time they don't have something. Like if somebody's in their 70s that means their kids are probably in their 40s. That's, that's an opportunity for like a term policy or potentially an iul sometimes even a whole life.

Grandkids as well. Do your grandkids have coverage? Like these are all, all of these people you guys are selling. They usually have kids and they usually have grandkids. You just have to ask for the opportunity.

I know a guy who's doing like Multiple, Multiple, Multiple 6 Figures 1 of the top earners in the business. As a personal producer I think he was doing like over 700k in income a year and a lot of what he was doing was like calling his clients to wish them happy birthday, asking for referrals, asking them you know how much coverage they wanted to add on and when they wanted to do it and it's like super basic stuff that like most agents don't really think about and they don't do it. And it's truly hilarious because like I say this all the time in the trainings I, I tell people all the time I'm not any more talented than you are. I just follow the process and practice the process more than every other person like asking for a referral not rocket science but most people don't do it. I used to be guilty of that. So it's like it really just comes down to like doing it, doing the work.

100 Kyle, what's going on dude? You said badass day of sales. Where you at?

So I was telling you the other day Kyle you have to have the bad days. You can have the good ones.

Mr. Mr. Mc closer.

But yeah, I mean like the, the thing is too is if you have a system as well like with the automations and stuff that'll reach out to them two weeks after and whatnot. And then also like the upsells on your existing clients with like whenever their birthday or their policy anniversary comes up. I mean if you have 300 clients you basically have a client birthday pretty much every single working day of the year which is an opportunity to ask for referrals or get a cross seller and upsell it's insane. Kyle, you wrote 3300 in AP. That's freaking gangster, dude. Solid, solid, solid stuff.

That's not bad.

It's not too terrible. Not bad for. For a little calm. Wednesday afternoon.

I remember my first time writing 3:30. 3:15.

Yeah. Yeah. Literally reclusive.

E says 180K AP. Close three months. I'm up. I'm not sure I know what that means.

I'm up.

Well, that sounds pretty good. What is that, 60k a month?

Something like that.

It's not bad.

My agent.

Oh, man, if I had a dime for every time I heard that brother used to be up. So I get it.

Not to put them on blast on YouTube paying 50, but they take 30 in upline splits. Sheesh. Well, dude, I mean, if you're closing that kind of. If you're closing that kind of business, you should talk to us about getting you into position. That's not the case. We might. Might be able to hook you up with.

With Corey to talk to you about, like, not doing another person getting robbed.

Yeah, that's crazy.

That's wild. You guys should reach out to us and maybe we can. Maybe we can miss is my downline. Maybe we can help you guys out with some free content or something. Whatever y' all need, let us know.

Cool.

What else do you want to cover on here with? I know we got about six minutes left. What other questions? Or I guess can I shoot you my number?

Yeah, sure.

Yeah.

What other questions you guys have that we can tackle here in the remaining time?

Yeah, this is Q A stuff. This is for you guys.

If nobody has any cues and we got no A's. I'm gonna go get me some. Some grapes.

What? That was so random.

Dude, I've been dying. I'm craving food right now. I'm so hungry.

Yeah, I just was not expecting you to say grapes. I was expecting, like some kind of a food or something. I don't know.

Reclusive. Are you in the free school community yet?

Just. Yeah, just drop the link so he can message me there. Because you can't private message me on YouTube. It's not possible. Yeah.

Yeah. So jump inside of this free school and then we can reach out and talk to you guys about, you know, helping you out with some lead gen stuff.

See? Papi chulo. Val.

I'm 21 years old with knowledge in business and work for a startup. Is there any advice you guys can give me or is there any way I can apply to your agency? I have previous sales experience.

Join the. Join the school also and you can message me there and I can learn a bit about you. Go from there. And if I haven't messaged you back and you're one of the people in my DMs I get like 40 DMs a day.

Yeah. What's yalls names? Just so Julian can reach out to you whenever you join. Like just literally while we're on this call. Go and join. Click that link. Join.

Is and then we can approve you guys and then just shoot us a dm.

Yeah, and definitely let me know your name because if I hear reclusive Poppy Mist or Poppy Chulo Val, like I'm definitely not going to respond to any of those names. So if you guys can give me like a real name to reach me out, I'll reach out.

Yeah. Julian's married. Guys. Chill.

Julian. He says dude, my agency has me on a leash.

I have to use my 10 year old YouTube gaming channel to message you. That's hilarious.

Well I don't think you can. You can't DM us on YouTube so just yeah, jump in that group. We can hook it up and cool.

I'll look up for Jonathan. These comments are wild today. I don't know what's going on. Yeah, what is this emoji?

Cool. Well I mean what other questions do you guys have?

And I guess we can kind of answer those. Tim, is there anything you want to add specifically about being in an agency where you, they have you on a leash or anything like.

Yeah, I can relate. Well, I don't know if you guys have heard our story but when we first started we were like literally selling. I was just talking to or our client success manager like about 30 minutes earlier about this. Like when Julian and I started we were working Walmart gift card free leads at 50 point comp. And you like you could get max 25 new leads a week. 25 new leads. And new leads meant they were weeks old because they had been submitted through the mail.

So it was 25 new Walmart gift card leads a week and aged Walmart gift card leads. And a Walmart gift card lead, for those of you that don't know, is a lead that sends in a mailer to get a free Walmart gift card. It says wait, check this box to get a free Walmart gift card.

And here's the funny part about all of that is if you didn't hit a certain metric, this never happened to me or Tim, thank God. But if you didn't hit a certain metric, you still had to pay for the leads. It was bananas. I knew people at our agency still paying for leads in a free lead program.

Yeah. Let me show you guys what this looked like. All right, this is an example. So you guys can see. So you guys can see.

Oh my God. 63 split and a 50 point comp split after that. I don't want to do the math on that, bro. That's terrifying.

2020, 2019 benefit information. You may qualify for a state regulated program to pay for your final expenses. It's important to note that you how to qualify for this life insurance benefit available to you. This benefit will pay for 100% of all funeral expenses. You're entitled to no cost information. As a resident of blank state. Return this postcard within five days and receive a free Walmart gift card.

So that's what we were working and basically.

Like what's crazy is we never complain about leads like literally ever. Like if you complained about the aged Walmart gift card leads at our agency, you are so soft. And we wrote 5k a week like every single week using that. So like minimum. With having. Yeah, exactly. With having the system we have now with like high, like actual life insurance leads coming in and like a power dialer and automations, it's just, it's absolutely insane what you can do. And like the margins just way higher too. Like I mean Julian, when you were writing 40k, I mean the profits per month were well above 20k. It's just absolutely ridiculous when you can get your lead cost down and you're not at 50 point comp.

So we're at 63 of 50. I mean I think our, our best, my best personal month was in the 30s like of profit. Just.

Yeah, literally bro.

But yeah guys, because I'm not able to like just jump on a zoom or anything like from YouTube or anything. So if you guys want to like actually says the same thing. Yeah, exactly. So if you guys actually want to like learn a little bit about like getting through and making this stuff happen, shoot me a message on the school, the free group. We're gonna wrap up the live here and I'm gonna get some grapes. But.

If you guys have any questions and you want to talk about like basically fixing your business model, I can myself or somebody on our team can kind of help you come up with a custom game plan on getting out of that situation and making some real cheddar.

So yeah, I just accepted you guys into school. I saw like a Lebron James profile pic and then some other stuff. So I think that's you guys.

Yeah.

So cool. And for anyone else who wants to learn about how to use this system, I will drop the link.

In the chat. It'll be in the description of this live as well once we end it.

Awesome. Gentlemen, Ladies. See you the next one.