I need help with life insurance strategies: Which market should I target and which products should I sell?

Question

I'm starting out as a life insurance salesman. I wish to use my time efficiently. Therefore, I need help to target the right demographic market and life insurance products for this market.

For example, I could target executives making over $100,000 per year, and the product is a combination term insurance with some UL. The term part goes to retirement, and the smaller UL part continues until death.

Any brilliant ideas would be helpful.

Answer 1

I would suggest keeping it simple, executives making 100K

per year are going to be hard to get a hold of. I would suggest using an Internet based lead source where prospects have requested life quotes. Most of these will be term sales. But the key to success is volume.

I have also used a direct mail program to new mortgage holders. Out of 1,000 mailers you can expect back between 20 and 60 responses. You should be able to close 20-30%. With practice and training these types of leads can be closed over the phone and written through the mail.

If your not captive I can refer you to a great life brokerage firm, just let me know.