Transcript Simpson Group Training Manual

MORTGAGE PROTECTION
GROUP
Beneflex Financial Group
Training Manual
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AMERICO GROUP OF
COMPANIES
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BENEFLEX FINANCIAL GROUP
MASTER MARKETING GROUP
• JERRY HILL joined the industry AS an agent in MAY
1988
• By the end of the year he had written over $1,000,000
• JERRY WAS NAMED AGENT OF THE YEAR AND
THEN BEGAN RECRUITING
• Jerry is now licensed in over 41 states and is actively
recruiting in those states.
• Jerry has has agents in his group that consistently earn in
excess of 6 figures each year.
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Beneflex Financial key to
success.
The lead program
• Beneflex Financial has several proprietary lead generation
system
• Lead generation is all In-House and outsourced for better
quality.
• Typical insurance industry agent spends 90% prospecting and
10% selling
• With the Lead Program, agents spend 90% selling and 10%
prospecting
Expert Selling System
• 2 step process – booking the appointment – presenting to the
client
• Designed for the one appointment sales cycle
• Avoid wasting time with “shoppers”
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For success choose Beneflex
Products
• We only partner with companies that provide the latest, cutting
edge products and services that hold the grade A rating through
companies such as A.M. Best
– Value programs – not just the steep or cheap market
– Innovative riders – always seeking the best for the client
Support
• The independent agent’s strength is partnering with Beneflex
Financial Group
– Good deals with specific insurers come and go
– Steady agent income as a result of the diversity and
negotiating clout that Beneflex Financial Group provides
– Beneflex Financial will not contract with an insurance
company unless it is the best deal for the agent and the client
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The Beneflex Financial Group of
Companies
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Beneflex Financial Grp Companies
Impaired Health Companies
• US Financial and Presidential
• Products that will actually cover HIV+ folks.
• Essentially, if they can fog a mirror, we can write
them.
• Examples: Heart Attack, Cancer, HIV, Quadriplegic,
Insulin Dependent Diabetes, Emphysema
• We will not train on these companies or these products
today. If you get someone declined, contact your
manager about how to use our Impaired Risk
Companies.
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Beneflex Financial Group
Shenandoah Life
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Founded in 1914, Roanoke, VA
A- with A.M. Best; largely due to smaller size
Small Mutual Company in only 30 states
Two Primary Products: (1) Mortgage Protector; (2) Golden
Promise
• Mortgage Protector is a copy cat of F&G’s Home Certain with
some minor changes. As we go along, we will train you on this
product. It has certain situations where it is better than Home
Certain.
• Golden Promise is a Final Expense product. It is a perfect
product to offer the parents of your clients. If you don’t know
who is paying for your parents’ funeral, then it is you.
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Americo Products we provide
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Americo
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Riders (cont’d)
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Getting Started
‘The LEAD’
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The ‘Simplified Selling System
A Two Step Process
1. The Telephone Call
2. The In-Home Presentation
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The Telephone Call
Booking the Appointment
What you are trying to accomplish
• Refer to the Letter (lead) that the Client filled out and Returned
• Let them know that you are the agent for their area
• Say that the appointment will only take about 15-20 minutes to
show how the program works
• Set a time and explain that it is important that both husband and
wife are present.
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The Phone Call – Script Example
• Hi, this is __________with the Mortgage Protection Group. I’m
calling because you had filled out a form and sent it back to our
office requesting more information about our mortgage protection
program.
• OR
• Hi, this is __________with Mortgage Protection Group. I’m calling
in reference to your mortgage with________. You had filled out a
form requesting more information about our mortgage protection
program.
• Our district manager will be in your area this weekend. He only
needs about 15-20 minutes. Their is a slot available tomorrow at 4 or
Saturday at 11. Which would you prefer?
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The Phone Call – Potential Objections
• I can't meet tomorrow…
– Great, so Saturday morning works better. Would you like the
10 o’clock slot or the 11?
• I just wanted some info…
– I mailed the info to you and you sent it back. Since you are
interested I will now take 5 minutes in person to share with
you how it works, answer your questions, and give you the
bottom line. I can see you tomorrow between 6 and 7 or
Saturday morning at 10 or 11. Which one works better?
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The Phone Call – Overcoming Objections
• “I just wanted to know the price”
“I’m just the appointment setter, so I don’t know any specifics
about the program. What I can tell you is that I have seen rates
anywhere from $25 a month up to $500 a month, depending on
the individual. Our manager will be able to give you all of the
specifics when he comes out. Is tomorrow or Saturday better for
you?”
• “Can’t you just send me some information?”
“We did send you the information on the form that you filled out
and sent back to us. Since you are interested, let our manager
take 10 minutes and explain the features and prices to you. Is
tomorrow or Saturday better for you?”
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The Appointment
What you are trying to accomplish
• Close the deal! Come out with applications and checks!
Basic Outline
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Make the clients feel comfortable
Go over the features
Show the prices
Write up the application
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The Appointment
Script
• Introduce yourself.
• Make them feel special, compliment them on their home, their yard,
the car, etc.
• Once at the table…
• “Tom and Sue. I am here to go over the benefits of your program and
to show you the bottom line. We will then send in an application to the
underwriting company and they will make a decision based on that
request. Sound good?
• “Now, I can take an hour and show you all of the charts, graphs, and
brochures or I can take 20 minutes, show you what it is and what it
does, answer your questions, and give you the bottom line. Which one
would you prefer?”
• Then cover the selling points on the lead.
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The Appointment – Selling Points
Script
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“This first bullet says that there will be enough to pay off your mortgage if
you die. This means that we will pay no matter how you go. If you are in a
car accident, or have a heart attack, whatever the case may be, we will pay.
“The second bullet says that if you can’t work due to illness or injury, we
will provide enough income to make your monthly house payment in full
for up to two years. If you can’t work because you’re sick or injured, we
will provide for the monthly payment. Period.
“The next bullet states that should you lose your job, we will make the
premium payments for this protection for six months. Another way of
looking at this is that you may lose your benefits at work, but not the
benefits that you have with us.
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The Appointment – Selling Points
Script
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“Finally, if you don’t use this protection, we can give you back all of the
money that you paid in. In other words, either you use the protection or you
don’t. If you do not, you have not lost a thing! Pretty neat…
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“Well, let’s take a look at what is important to you and your family”
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At this point, clarify their needs and budget requirements.
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Show the pricing options and watch for buying signals
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The Appointment – Presenting Prices
What you are trying to accomplish
• This is where you show the bottom line.
• You need to be very sensitive to reading their body
language.
• You need to explain the program and then start writing up
the applications.
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The Appointment – Present Prices
Script suggestions for the laptop
• “Well, Tom your program is $___ per month. And Sue, yours is
$___.
• Note: It is not required to begin at the beginning of the
application.
• For example…beginning with the beneficiary information:
“Now Tom, who do you want to leave this to when you die? To
Sue?”
• Proceed with filling out the application. If you hesitate, you will
probably lose the opportunity to close the deal.
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The Appointment – Present Prices
If they balk at the Bank Draft
• “Well Tom, that’s not a problem, I just need to collect the first
twelve months tonight.”
• “Tom, the insurance industry is one of the most highly regulated
industries in the U.S. You can rest assured that the last thing an
insurance company needs is to bring the SEC and the Insurance
Commissioner down on them by being irresponsible with your bank
draft.
• “Let me make a suggestion: try it for a couple of months and if they
can’t get it right, we can always change it back to a billing mode.”
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The ‘Simplified Selling System
Closing the Sale
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Keys to Remember
Mortgage Protection/Life Insurance is an emotional sale
• You are helping your client think, plan, and prepare for their eventual
death and the effects that it will have on their family.
• There was emotion when they sent this card in; there should be
emotion when they purchase their plan.
One Step Close
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This program is designed to close the lead in one appointment
The “sale” was made with the lead.
Refer to the lead during your discussion/presentation
The appointment is set up to choose a premium level and pick up a
check and get referrals
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Keys to Remember
You are not an insurance salesperson – you are a “Mortgage
Protection Specialist”
• You have the expertise to counsel the client on the best way to protect
their home for their family
• You have to differentiate yourself from your competition
The Client Sent the Letter Back
• They want to buy. Do not wait for a “yes”. They have already said
“yes”.
• Book the appointment.
• Show the features and prices.
• Then fill out the applications.
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Steps to the Close
Emotion…Paint Pictures with Words
Logic…Show the Prices
Assume the Sale…Don’t Hesitate
Fill out the Application(s)
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The Application
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AMERICO Application Tips
How to Get Paid
• Read through application at least once or twice before your
first appointment
• Fill in all of the boxes – leave no box empty
• Must get signatures and checks while in home
– Highlighting signature boxes ahead of time is smart
• Keep copies of all applications
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AMERICO Application Tips – Common
Errors
Page 1 of 8
• Name - First, M.I. and Last. (Middle Initial is often missed)
• Address - house number with Street Name, City, State, and Zip
code (City, State and Zip are often left off)
• Beneficiaries - Full Name, Relationship to Insured, and Percent
of Share (The relationship to insured is often missed) Be sure
and get the beneficary social security number.. If they do not
have it, ask them to obtain it and supply later.
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AMERICO Application Tips – Common
Errors
Page 2 of 8
• Make sure the Term Period and Premium Guarantee Period line up with
product sold
• Credit Card can only be for the first premium or for a full annual premium, not
monthly charge.
• For the sale of any other product that is not Home Certain, the Accelerated
Benefit Rider is FREE but must be colored in to be applicable.
• Critical Illness Rider and the Child Rider need to have the required
supplemental questionnaire attached.
• The adding of Extended Premium Guarantee Rider is to be listed under
OTHER at the bottom of the page.
• ALL YES or NO questions…the circle is to be BUBBLED in, not X, \, or
checked.
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AMERICO Application Tips – Common
Errors
Page 4 of 8
• YES answer to Questions 2, 5, and 6 need a completed questionnaire.
Page 6 of 8
• Medical History Questions…You can use ADLF3787 Underwriting Guide
(Blue Book) issued from F&G or we have also provided forms with pertinent
underwriting questions.
• Question 1…A through K that has been answered YES, should have the
underwriting questions answered under details at the bottom of page, in
additional information on page 8 or use an added page with all the details and
include as an attachment.
Page 7 of 8
• Authorization / Certification is signed and asked for CITY, STATE and DATE.
The date is frequently missed.
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Expectations
What Is Expected of You?
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What is Expected of You?
Work
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50 - 75 phone calls per week
5-15 appointments per week
4-5 applications per 10 leads
$2,500 AP per 10 leads as a minimum
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What is Expected of You?
Communicate
• Let your manager know what is going on with the money (leads)
that were provided to you
• Phone call tracking sheet
– How many phone calls
– How many appointments
– How many applications
• Don’t allow your activity to be stunted just because your
manager isn’t made aware of what’s going on.
• Two ways to get more leads – Production and Communication
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• Copy of the Telephone Log
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• Copy of the Business Transmittal
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What is Expected of You?
• Be accountable to the system and to the team
• Be coach-able
• Just assume that we know what we are doing.
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Income Example
5 leads
1 is too unhealthy
1 is shopping
3 are fair game (before referrals)
55%
Average Monthly Premium
$80
Annualized
$960
1st Year Commissions
$528
2 sales per 5 leads – comms
$1,056
Lead cost per 5 leads
Free
Total Annual Income
$54,912
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Income Example
Improvement of Income
Referrals
Extra Sales per Household
Higher Average Premium
Pay for your leads
55%
60%
Average Monthly Premium
$100
$100
Annualized
$1,200
$1,200
1st Year Commissions
$660
$720
3 sales per 5 leads – comms
$1,980
$2,160
Lead cost per 5 leads
Free
$81.50
Total Annual Income
$102,960
$108,706
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What Causes Agents to Fail?
Fear
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The Phone
Rejection
Income
Change
The System
Failure
Insurance Lingo
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Traits of Successful Agents
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They are not geographically anal about lead flow
They listen to and memorize the MP-3’s
Study and master the product lines/features sheets
Get a mentor
Maintain a good work ethic
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Final Thoughts…
• We have supplies for you. If you are on the call,
contact your manager for supplies.
– Applications, supplements, marketing brochures,
folders, MP-3’s and HIV and HIPAA forms
• Contact your manager for your first set of leads. If we
don’t hear from you, we assume that you will let us
know when you are ready for leads.
• Call those leads and book appointments
• There is a diminishing return with this training. The
longer it takes you to make your first call, the less
likely it is that you will ever do it successfully.
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Welcome to Beneflex Financial Group
and The Mortgage Protection Group of
companies
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Software awareness
• Run different plans on yourself so you can
better understand the software and the
programs available.
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