How To Write Life Insurance Policies Other Agents Can't Replace

One of the most frustrating things as an insurance agent is finding out that another agent came behind you and replaced your policy. It's similar to that gut wrenching feeling you get when you find out that you've been cheated on. You feel betrayed and angry, like you've been stabbed in the back by someone you thought was going to be loyal to you. In this video, I'm going to be showing you how to write irreplaceable life insurance policies and build a moat around your client that no other agent would dare cross. That way, you can avoid chargebacks and avoid getting those absolutely awesome, awful emails saying your policy has been replaced. And if anybody even tries to replace your policy, your client will say the five infamous words, I already have an agent. These are the eight ways to write irreplaceable life insurance policies. Number one, actually find your client the best policy. Believe it or not, if you actually put your client with the best policy for them, it makes the policy pretty hard to replace. So, simple enough, right? Well, the way to do this is to have your underwriting down to a T. If you use an underwriting tool like Toolkits or Best Plan Pro, it's going to be much easier to do. But you can also use an underwriting guide given to you by your IMO to make sure that every single time you're matching someone with the best rate they can qualify for. If you genuinely care about your clients and aren't just going for the higher commission and put them with the best policy for them, it's going to make that policy 10 times harder to replace by other agents. Number two is to build a relationship with your clients. If you've ever talked to somebody and you were trying to replace their policy or do something like that and they said, I already have an agent who can help me, the reason why is because that agent has a relationship with the client. They've built rapport and they have trust established between the two of them. People like to do business with those they know like and trust. So if you're the type of agent that calls them on the phone, goes in, signs them up, barely talks while you're signing them up, sends them the policy, hangs on the phone, and then never talks to them again. Then if another agent comes behind you, even if you already wrote the best thing, all they have to do is show that they genuinely care about the client, talk to them, try to make conversation, and be likable. If they find even one like sliver of a hole, something that you didn't even really mess up on, but could be a way to replace the policy. It's going to be much easier versus if on the front end you actually build a relationship, build the trust. Call them after they sign up and show that you care. Then if somebody comes behind you, they're going to say, I have an agent. Number three is to get referrals from your client. The more referrals you get from someone, the more emotionally invested they are with you as the agent. When people recommend something to other people, it makes them feel more confident in their decisions. It's the same reason that gyms will ask you for a bunch of referrals, because if you tell five of your closest friends to go to the gym with you and then you stop going to the gym, well, now you look inconsistent. Same thing goes for insurance. If you sign up Ms. Jones and then she tells her brother, sister, mother, daughter to sign up with you, all of a sudden you're the family insurance agent. So if Ms. Jones cancels her policy, everyone else to be asking, what's going wrong, or someone else comes in and replaces her policy, well, now she looks inconsistent because she just put her whole family onto you as the agent. Number four is to give them something tangibly to hold on to. Whenever somebody buys life insurance, they're literally just buying an idea that if they die, something will happen to them. It's just a thought in their mind and a piece of paper that might come to their house three weeks later. So if you can give them something to hold on to so that they feel like they actually have something, it makes it much harder to replace. Here's some examples of some tangible things that you can give them. Business cards, Fridge magnets. Folder to put their policy in so that when their family goes to find it, it's inside of the folder and kept safely. You could even mail them like a PDF that kind of explains how life insurance works. So that whenever they go and look, they're like, oh, I have all this paperwork and all this stuff that represents my insurance policy. Your client should feel like they bought something, not like an insurance company is just siphoning money out of their bank account every month. You want to make them feel like they actually are paying for something. Number five is regular communication. There's a quote from George Bernard Shaw that says the single biggest problem in communication is the illusion that it has taken place. So many people think they're great communicators because they texted their client one time to make sure they got their policy. But what does actual good communication look like? Well, A lot of it's done on the front end. If you can leave and send business cards to your clients and make sure that they save your contact in their phone. If you're doing telesales, you can literally just send them a digital business card and then they can automatically save it as a contact on their phone. They should not have any question of how to get in contact with you. So a lot of communication is having an open line of communication. So if they have any questions, they can hit you up. And then you should also schedule out certain times to reach out to your clients across the 90 day mark of them buying their policy. You can even do some super cool stuff with automation, like sending an automated welcome card to all of your clients and then also following up with a card that asks for referrals. I also recommend calling them occasionally just to check up and make sure that everything's going good. People appreciate that kind of stuff. All right, and now we're about to get into some super interesting stuff. This is like the real moat building where you're putting crocodiles in the moat so nobody will even dare cross it to try to get to your policy. Number six is putting your clients on the do not Call list. Now, this serves two purposes. Purpose number one is now when another agent calls them, what is your client going to say? Hey, I'm on the do not call list. Why are you calling me? You must be a scammer. Because if someone is on the do not call list and someone calls them, they're illegally calling them unless they opted into something. But it makes the client client feel like they should not be contacted. So anyone that's contacting them as a telemarketer is automatically a little bit sketchy. The second purpose that it serves is a big problem for seniors. And even people that are buying term is consistent and constant telemarketing. Their phones are always ringing. So if you are the superhero that comes and puts them on the do not call list, not only did you alienate all the other agents and all the other people that are calling them, but now you made yourself seem like the hero. If you put all of your clients on the do not call list, they will love you forever. Believe me, both Julian and I have done this and every single person when I even bring up the do not call list is like, please God, put me on that thing. Number seven is to make yourself extremely easy to contact. You got to give them business cards, mail them business cards, make sure they have your contact. They should have digital and physical business cards of Something to put on their fridge, like a fridge magnet. Like, you should be like that clingy girlfriend that they can't get away from that's putting photos of yourself all over their house. But like with your business cards, these people should never have a question of how to contact you if they have an issue or a question about their policy. You also want to set the expectation that you are available if they have questions. Because a lot of people, even if they have your contact info, they'll feel weird about calling you almost as like, you don't want to take their call. And so you need to make it very clear that, like, hey, I'm going to be the agent that's going to serve you. If you have any questions, do not hesitate to call me. If anyone comes in here and tries to replace your policy, do not hesitate to call me. Because what we did for you today was we found you the best possible rate because I have access to all the carriers. So if anyone comes in here and tries to tell you to replace something, call me. And honestly, if they have something better than what I gave you, I'll tell you to go with them. If you say a sentence like that, your clients will have so much more trust for you. And if somebody else comes in, they will call you to make sure. All right? And number eight is to sew the seeds of mistrust about other agents. So after you finish wrapping up the policy, you're going to want to say something like this. So, Ms. Jones, there's a lot of scammers and fraudsters and people out there that are in this business that don't have your best interest at heart. So I want to take a few minutes just to kind of set the expectations so that you can protect yourself from anyone that would try to do you harm. If anybody calls you up and tries to ask about your policy or says that they're the servicing agent on it and they need to look at it or knocks on your door or does anything like that, make sure to call me, because there's a lot of sketchy things that go on. There's a lot of scammers, There's a lot of fraudsters. You've probably heard about it on the news. And I want to make sure that you can protect yourself. Tell them that you call them back and call me immediately because I'm happy to answer any questions you have about it. We already found you the best thing here. The only reason that anybody else would try to talk to you is to try to replace what you already have. Just so they can get a commission, but it's going to reset everything that we already did for you. So you have my number, you have my contact. Do not hesitate to reach out to me and be careful about other agents out there because there are a lot of sketchy people in this business. You say that they're going to be terrified of anybody else touching their policy, looking at their policy, doing anything, and I've been on the receiving end of this. When I would doorknock, people would be like terrified to show me their policy because the agent that had set them up and signed them up had warned them about other people knocking on their door and doing sketchy things with their policy. So if you actually do this and sow the seeds of mistrust, they're going to be weary of other insurance agents and only want to work with you. But that only works if you've built trust as well. So those are the eight ways on how to write irreplaceable life insurance policies, cut down on your chargebacks and make more money as an insurance agent. If you guys found value from this video, be sure to leave a like subscribe and drop a comment down below letting us know what you would like to see next. If you're an agent who's doing between 3.5 to 5k a week in AP and you want to learn how to get to the next level, we have a coaching program where we teach insurance agents how to self generate leads, how to increase their closing percentage, decrease their chargebacks and automate part of their business. Click the link down below and see if you would be a good fit. We're only taking a certain type of applicant, but if you would like to see if you should be part of that, click the link down below where it says book a call and we look forward to talking with you. Thank you guys so much for watching this video. I appreciate you and I will see you guys in the next one. Peace.

Sam.