Agent
Fast Start
Program
Marketing And Activity Plan
Fast Start 1
LNL0937 1110
Why People Need
The Products We Sell
Fast Start 1
LNL0937 1110
Millions of Americans have no life insurance coverage.
• Only 61 percent of adult Americans have life insurance
protection, a decline from 70 percent in 1984.
• Only 41 percent of adult Americans have individual life
insurance. Many rely on group insurance, leaving them
vulnerable if they lose a job.
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
Most people who have insurance coverage don't have
enough.
The average life insurance need is about $459,000, (12 times
the average income) but the average amount of life
insurance owned is $126,000. Therefore, the average
underinsurance is more than $300,000.
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
People who die prematurely with inadequate life
insurance coverage create a financial burden on the
surviving family.
• Some 45 percent of widows and 37 percent of widowers
say their spouse was inadequately insured.
• One to two years after the death, half the widows and one
third of the widowers are just getting by financially.
• On average, widows (who receive life insurance
proceeds) receive about three times the household
income from all life insurance proceeds, while widowers
receive one year of household income.
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
Nearly half the population seems inadequately
prepared if the primary breadwinner were to die
tomorrow.
• Because households are underinsured, there is not
enough coverage to materially improve the finances of
the deceased's household.
• Some 13 percent would immediately have trouble meeting
everyday living expenses.
• Another 25 percent would have difficulty keeping up with
expenses after several months.
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
It takes years to recover economically from the death
of a spouse.
• Widows and widowers indicate an average period of four
to five years before their financial circumstances return to
what they were at the time of their spouse’s death.
• Two thirds of spouses who do receive life insurance
benefits receive less than three times the annual income
of the deceased.
• Average amounts of coverage for those having life
insurance is about three times their income. That’s less
than the four to five years needed for recovery.
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
Large numbers of Americans don't recognize their
need for life insurance coverage
• Despite evidence of being underinsured, only 29 percent
of households feel they need more life insurance
coverage.
• Even more affluent households (>$100,000 household
income) lack sufficient life insurance, yet say they have
sufficient coverage.
• In the last two years, 11 percent of American households
shopped for life insurance but only 8 percent bought about 890,000 households out of 111 million.
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
Life insurance Agents are seen as the most useful
source of information when buying life insurance.
• Agents are seen as more useful than the Internet, books
and magazines, or TV and radio programs.
• Of households that shop for life insurance, 45 percent
never have had a Needs Analysis done to help them
determine how much life insurance they need.
• Consequently 53 percent of shoppers say they have
difficulty determining how much life insurance to buy.
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
Whole Life vs. Term Life
Peak Earnings &
Asset Accumulation
Debt Reduction
Children
Grandchildren
Marriage/ First Home
College / Work
Term Life
Retirement & Wealth
Transfer
Whole Life
Life Begins
Fast Start 1
Life Ends
LNL0937 1110
Overview - Market
• Individual
38 million uninsured working adults (18-64)
68 million U.S. citizens have no life insurance coverage
• Worksite
In 2000, 68% of companies with 3-199 employees offered health benefits
In 2007, 58% of companies with 3-199 employees offered the same, a 10%
reduction.
• Retiree
Largest Wealth Transfer – Taxation at its highest
Concerned about asset preservation
*Facts from LIMRA International for Life Insurance Awareness Month (LIAM)
Fast Start 1
LNL0937 1110
Marketing Plan
Fast Start 1
LNL0937 1110
Marketing the Liberty National Way
Get in All Houses, Deliver Introductory Offer
Get Minimum 20+ Sponsorships
“Realizing Your Need” Video
Customer Survey, Listen to Critical Last Question
Based on Last Question Answer, Get to One of 5 Basic Needs,
Selling One or More of Entire Portfolio of Products
Final Expense
Presentation
Mortgage
Presentation
Monthly Income
Replacement
Presentation
Education
Presentation
Supplemental
Health
Presentation
E-App Close
Repeat Process
Fast Start 1
LNL0937 1110
Laptop Sales Make it Easier
Laptop Video Sales Presentations in Conjunction
with E-App:
• Needs-based selling - what they need and WANT
• Generates many more Sponsorships
• When the process is followed, results in 75% closing rate, with
to two to three times larger face amounts sold
• Compliant, Standardized Presentations – minimizes inadvertent
misrepresentation risks
• Faster Training - easy to implement for new agents with no prior
experience
• 95+% of all apps now come via e-app - helps retain more
producers for Producer Growth - immediate e-app transmission
to Home Office results in quicker commissions, bonus and issue
Fast Start 1
LNL0937 1110
Needs-Based Laptop Presentation:
Presentation’s Sales Steps
Step 1. Play Introductory Offer Presentation:
Giveaway to gain entry to home – Laptop Presentation offers $3000 Acc. Death for families or small businesses;
ChildSafe Kit for young families; MedFacts for middle-aged; Memorial Guide for seniors, etc.
Offer
90% accept
Step 2. Get “Sponsorship” Referrals from end of Introductory
Offer Presentation:
At end of introductory offer presentation, Agent prompted to enter 10-50 “sponsorships.”
offer sponsorships
90% will agree to
Step 3. Play “Realizing Your Need” Video:
Outlines meaningful risk and solution for a family losing a primary bread-winner – stimulates “what if” thinking by
prospect to want to know more on their own situation.
90% will agree to see video
Step 4. Complete “Customer Survey” for General Data:
Gathers general data on family: name, address, spouse & children, phone, age, gender, employer, policy types in
force (Final Expense, Mortgage, Monthly Income Replacement, Education, Supplementary Health, etc.) Asks
important question – Agent listens to answer to survey’s last question and then plays proper needs-based Video
for the product for A) what they NEED and as importantly, B) what they WANT.
survey
Fast Start 1
80-90% agree to do
LNL0937 1110
Needs-Based Laptop Presentation:
Presentation’s Sales Steps
Step 5. Play “Needs-Presentation” on Specific Exposure,
Based on Customer’s Concern, Gathering Specific Data:
One of 5 basic need videos are played: Final Expense, Mortgage, Monthly Income
Replacement, Education, Supplementary Health. Within each presentation, specific data is
gathered regarding customer’s own exposure; based on this data, the presentation
recommends a specific amount of insurance coverage, prompting them to then “See if You
Qualify” or “Get a Quote”.
90% agree to see Needs Presentation
Step 6. Write E-Application Quote & Underwriting
60% - 75% Closing Rate, resulting in 2-3 times more face amount sold
Step 7. Go see Sponsorships and Repeat Process:
Ideally, an Agent who fully understands this concept will attempt to give away 20 Introductory
Offers per day, getting a minimum of 10 sponsorships on each, for a total of 200 per day.
Obviously an Agent who is working this system successfully will run out of time to see all
potential prospects.
Fast Start 1
LNL0937 1110
* Insurance Marketing magazine, September 2008
Fast Start 1
LNL0937 1110
Liberty Laptop Sales Presentation
Fast Start 1
LNL0937 1110
Overview - Winning Game Plan
Marketing Plan – Laptop builds value
1. Introductory Offer – Give it away first!
•
•
•
•
•
•
2.
3.
4.
5.
6.
7.
Fast Start 1
Accident Ins.
Interim Term Rider
Child Safe Kit
MedFacts Kit
Memorial Guide
Savers Plus Discount Card
Sponsorships (20+)
“Realizing Your Needs” Video
Customer Survey
Product Recommendation
Submit E-application / Next Steps
Go contact sponsors and give it away
LNL0937 1110
Overview - Winning Game Plan
Marketing Plan – Laptop builds value
1. Introductory Offer – Give it away first!
•
•
•
•
•
•
Accident Ins.
Interim Term Rider
Child Safe Kit
MedFacts Kit
Memorial Guide
Savers Plus Discount Card
2. Sponsorships (20+)
Fast Start 1
LNL0937 1110
Marketing Plan
Fast Start 1
LNL0937 1110
$3,000 Accidental
Death Policy
Fast Start 1
LNL0937 1110
Family Coverage – $10 per year payable at the
end of the policy year
$3,000 Accidental Death Benefit on the primary
insured/spouse
Fast Start 1
LNL0937 1110
$1,000 Accidental Death Benefit on
each eligible child.
Eligible Child is:
“your children, legally adopted children, and
stepchildren who are less than twenty-one years of
age; are unmarried; and either live with you or are
primarily dependent upon you for their support”
The insurance on any child covered under this
policy will terminate at the earlier of the termination
date of the policy or the child’s 25th birthday
Fast Start 1
LNL0937 1110
Issue ages, 18 through 68
• There is a limit of one policy per family
• Outline of Coverage required in NV, OK, TX
Fast Start 1
LNL0937 1110
Florida Only! Florida Only!
In Florida, the Accidental Death Benefit on each eligible child
is $2,000.
In Florida, the ADP is sold to customers at no cost for the first
year. To do this, the Agent rebates their first year
commission to pay the first year’s premium for the Insured .
“For each policy sold, a $10 first year commission is paid into
the Agent’s commission account. Then, the $10 is deducted
from the commission account and is used to pay the
customer’s first year premium on the ADP policy. As such,
the net pay out to the agent is zero.”
Florida Only! Florida Only!
Fast Start 1
LNL0937 1110
A-394 Application
The policy is not underwritten. There are no health
questions.
The application must be completed in full and signed
by the applicant and the agent
Do not collect any money with the application
The $10 annual premium is not payable until the END of
each policy year
Fast Start 1
LNL0937 1110
Application, continued …
This policy can only be billed on an
annual mode. It cannot be transferred
to any other mode.
This is a guaranteed issue policy so there are no
commissions or bonuses.
In Florida, Agent’s commission account will be debited
$10 for the first year premium and the agent will
receive a $10 commission for the first year
premium. As such, the net pay out to the agent is
zero.
Fast Start 1
LNL0937 1110
Marketing Plan
Introductory Offer – Cold Calls
Fast Start 1
LNL0937 1110
Marketing Plan
Introductory Offer – Sponsored Prospects
Opening: Your Name & Company:
Hello, is this (prospect)? My name is (your name) with Liberty
National Life Insurance Company, do you know (Sponsor’s full
name)?
Body: Why you are calling:
(Sponsor’s first Name) said he/she was a friend of yours, and
he/she sponsored you for a (Accidental Death Policy).
The good news is… he/she thought of you as a friend!
Fast Start 1
LNL0937 1110
Marketing Plan
Introductory Offer – Sponsored Prospects
Close: Win the Appointment (Drop-off):
I need to schedule a time to get you enrolled in the program
but I need to ask you a few questions, OK?
- Would it be more convenient for us to meet at you work or home?
- What’s the address?
- Is morning or afternoon typically best for you?
Great, then I will meet you (Wednesday) morning / afternoon
at (address USA).
Look forward to meeting you, my name is (emphasize your
name) and I’ll see you soon. Have a great day, goodbye.
Fast Start 1
LNL0937 1110
Marketing Ideas That Work!
Fast Start 1
LNL0937 1110
Introductory Offers/
Sponsorships
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
• The Laptop Introductory Offer video builds value with
the goal of generating additional sponsorships and a
system to capture names.
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
Liberty National Activity Plan – Week One
240 Cold Call Contacts – Introductory Offer
24 Drop By Appointments @ 10%
15 Introductory Offers placed @ 65%
x20 New sponsorships average
300 New sponsorships to call
And the usual 5-7 sales @ 33%-50% closing utilizing
the laptop
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
Call sponsorships and multiply your efforts:
240 Sponsorship Contacts
120 50% to dropoffs vs. 10% cold call
76 62.5% dropoffs to presentations
56 75% close rate vs. 33% cold calls
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
90% of people accept
the Introductory Offer.
After all, who doesn’t want
something for nothing?
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
Ask good questions:
Bad – “Who else do you know that needs
insurance?”
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
Ask good questions:
Good – “Who else do you know that has:
– a small business?”
– small children?”
– a new baby or is expecting a baby?”
– grandchildren?”
– nieces or nephews?”
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
Ask good questions:
Good – “What about:
– neighbors?”
– relatives?”
– co-workers?”
– concerned parents or PTA groups?”
– Teachers and Principals?”
– owners of childcare businesses?”
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
Ask to put your number in their cell phone. Ask if they
would allow their friends to have access to the
introductory offer.
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
Sponsorships carry an implied endorsement.
“Hello Mrs. Jones. Mrs. Smith asked me to call you and
share one of our Introductory Offers with you.”
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
When should you ask?
The best time to ask is from the beginning!
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
When should you ask?
Before you start selling insurance.
And
When you deliver the policy.
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
When should you ask?
1. While saying thanks.
2. When following up.
Fast Start 1
LNL0937 1110
Introductory Offers/Sponsorships
When should you ask?
After each Introductory Offer module in the Laptop
Sales Presentation.
As a matter of fact, the laptop will do the work for you
but you may have to help them along by asking them for
their club, PTA or work, directory, etc.
Fast Start 1
LNL0937 1110
Cold Calls
Fast Start 1
LNL0937 1110
Cold Calls
When you don’t have the money or don’t want to spend
the money to buy leads, cold calling works.
• Use the phone or knock on doors.
Fast Start 1
LNL0937 1110
Fairs
Fast Start 1
LNL0937 1110
Fairs
“The best thing I’ve ever done. State or regional fairs will
average 300,000 people over several days and 1/3 of
those will not have insurance. And as you know, almost
everybody you talk to is uninsured or underinsured for
life or health insurance. You are
not going to get better numbers
than that.”
Fast Start 1
LNL0937 1110
Fairs
One Branch wrote $270,000 AP each of the first three weeks
following a state fair.
Location is most important. Set up near entrance
and/or booths tailored to families and kids.
The goal is to get leads.
Fast Start 1
LNL0937 1110
Fairs
•
The booth should be on display every weekend fairs, gun show, RV show, lawn and garden show, car
races, football games, health fair, grand opening of a
mall, etc.
•
Any gathering of a large number of people.
•
At each Branch meeting tout the results of the booth
to create interest.
Fast Start 1
LNL0937 1110
Fairs
Booth participation is on a first-come, first-serve basis.
The Branch does not pay for the booth fee or any other
expenses. People need to invest in their business, we
have found that we get the best results when the
participants have made a financial and time commitment.
Fast Start 1
LNL0937 1110
Fairs
Order Liberty National booths through these websites:
• www.pinnacledisplays.com/lnl
• www.exhibitdeal.com
Fast Start 1
LNL0937 1110
Fairs
Search the Internet for fairs in your area:
•www.weekendevent.com/statefairs.htm
Fast Start 1
LNL0937 1110
Fairs
But if you don’t have the money, use a tablecloth, some
American flags, and a $75 sign that touts:
• $3,000 Accident
• MedFacts Kit
• Child Safe Kit
• Memorial Guide
• Affordable
• Life Insurance
• Supplemental Health Insurance
Lack of money should never stop you from prospecting.
Fast Start 1
LNL0937 1110
Fairs
The main purpose of the booths is to collect leads.
Therefore, feature the Introductory Offers.
Fast Start 1
LNL0937 1110
Signage
Fast Start 1
LNL0937 1110
Signage
“100 signs typically equals $10,000 AP.”
• Agents use Home Office approved signs or submit
their own for Home Office approval.
• Agents pay for the printing.
• Agents who assemble their own signs, save
money. If an Agent wants to put out 1,000 signs in a
week then GO FOR IT!
Fast Start 1
LNL0937 1110
Signage
Fast Start 1
LNL0937 1110
Signage
Fast Start 1
LNL0937 1110
Signage
Simple is better when designing: ‘The Introductory
Offers’ with your phone number or ‘Affordable Life
Insurance’ with your phone number.
Place signs in high-traffic intersections in towns and
states that allow them.
Put them out Sunday night or Monday night so people
see them on their way to work.
Fast Start 1
LNL0937 1110
Signage
Freshly mowed areas are better. Try to avoid the night
before a big storm. Don’t worry if they only last a day or
two.
Fast Start 1
LNL0937 1110
Signage
The main purpose of the signs is to get leads.
Therefore, feature the Introductory Offers.
Fast Start 1
LNL0937 1110
Signage
Car magnets turn your vehicle into a moving lead
generator.
Put magnets on the back or each side of your vehicle.
One sale pays for them.
Fast Start 1
LNL0937 1110
Small-town
Newspaper Ads
Fast Start 1
LNL0937 1110
Small-town Newspaper Ads
Don’t spend your entire budget on an ad in a major
metro newspaper where the prices are high and there is
a lot of competition.
Fast Start 1
LNL0937 1110
Small-town Newspaper Ads
Simple is better when designing the ad.
Use the Introductory Offers or phrases such as
‘Affordable Life Insurance’ - your name and phone
number.
In any event, use Home Office approved ads with
approved language.
Fast Start 1
LNL0937 1110
Small-town Newspaper Ads
Pre-designed and approved ads are available for your
use through the Home Office.
Fast Start 1
LNL0937 1110
Small-town Newspaper Ads
Pre-designed and approved ads are available for your
use through the Home Office.
Fast Start 1
LNL0937 1110
Small-town Newspaper Ads
Pre-designed and approved ads are available for your
use through the Home Office.
Fast Start 1
LNL0937 1110
Small-town Newspaper Ads
If you are going to work a small town, put an ad in the
local paper every day for a week for $30.
Then go put 100 signs in that town, contact the leads,
sponsorships, and walk & talk face to face.
You’ve created a genuine prospecting plan for that week
and a much better shot at generating business.
Fast Start 1
LNL0937 1110
Door Hangers
Fast Start 1
LNL0937 1110
Door Hangers
Typically get a 1% return.
Put out 500 door hangers a week, should
get 5 calls that you can close.
A proactive way to see a lot of people.
Some success with apartment
complexes.
Fast Start 1
LNL0937 1110
Walk & Talk
Fast Start 1
LNL0937 1110
Walk & Talk
When you receive a lead, go to the home, introduce
yourself, and give away the Introductory Offer and
complete the marketing plan.
Use the T method by visiting the houses on either side of
the original walk & talk and across the street. “I was just
visiting next door with your neighbor about our Child Safe
Kit, Med-Facts Kit and thought I’d stop by and see if we
could help you.”
The T method can also be used to walk & talk businesses.
Fast Start 1
LNL0937 1110
Walk & Talk “The T Method”
Fast Start 1
LNL0937 1110
Leads
Fast Start 1
LNL0937 1110
Marketing Plan
How to Work Leads
Fast Start 1
LNL0937 1110
Marketing Plan
Face To Face Approaches/Objections
Fast Start 1
LNL0937 1110
Recycle Leads
Some of the reasons for changes include:
• Rate increase
• They lost their insurance
• Their employer reduced or eliminated coverage
• Someone in the family died
• The business has a new owner/manager
• A child was born
• New mortgage was secured
Fast Start 1
LNL0937 1110
Internet Leads
$1 or $2 Internet leads are good because quantity is key.
They can only be used once because they are not rescrubbed against the Do Not Call list.
Make sure you incorporate the Introductory Offer and
differentiate yourself from the other five agents who
purchased the same lead.
Be different and Give it away first!
Fast Start 1
LNL0937 1110
Telemarketing Leads
Here are some things the various vendors could look for
in a prospect they generate:
Small Businesses that:
• Offer no health and/or life benefits
• Offer limited benefits but would like to expand
• Employ 10-50 fulltime staff
• Would like to offer their employees a Liberty
National Accidental Death Policy
Fast Start 1
LNL0937 1110
Marketing Ideas That Work
•
•
•
•
•
•
•
•
Introductory Offers/Sponsorships
Fairs
Signage
Small-town Newspaper Ads
Door Hangers
Walk & Talk
Leads
Cold Calls
How do I get my phone to ring?
Fast Start 1
LNL0937 1110
Big Picture
• Use Introductory Offers to get in the house and
generate sponsors
• Use Customer Survey to identify needs
• Use Laptop Sales Presentation to close the sale
Watch closing rate climb to 75% or more.
Watch Annual Premium triple.
Fast Start 1
LNL0937 1110
Play Laptop Presentation
1. Introductory Offer Video
2. Collect Sponsorships
3.“Realizing Your Need” Video
Fast Start 1
LNL0937 1110