This the Part 5 in our series on Cross Selling Life Insurance in Your P&C Agency. You can read the full series here:
- Part 1: Secret Sauce for P&C Agents [VIDEO & FREE DOWNLOAD]
- Part 2: Start Your Marketing Plan [Free e-book and sample direct mail letters]
- Part 3: Questions your CSRs should be asking to generate life insurance leads
- Part 4: What Products Should You Sell?
- Part 5: How to Process Your Life Insurance Leads
Your CSRs have cracked the code, built up some serious confidence and have started generating life insurance leads. Now you ask: What the heck happens next?
Our business model is designed to help independent agents and agencies effectively implement and execute life insurance and financial services cross selling campaigns. That means we are here to support agents from start to finish. So, when you get a life insurance lead, follow the process below.
1. Celebrate
Celebrate! We’re a big believer in the good old high five! Give yourself and your team a high five and a pat on the back for generating your first life insurance lead.
2. Send lead / quote to Redbird
Below are the following ways to request a life insurance quote from Redbird
- Downloadable Life Insurance Quote Form
- Online quote form at Redbirdagents.com
- Send Drew an email at drew@redbirdadvisors.com
- Call your support rep and tell them the good news at 866-547-8780 ext. 102
Or, you can run your own life insurance quotes by using Winflex.
3. Redbird Review
We will make sure all necessary information is listed and collect any missing information from you. In some cases, we’ll ask that you fill out condition-specific questionnaires to make sure we get the most accurate quotes. We’ll then send you the competitive options for your client based on the information provided. Copies of the applications will also be included and any special instructions that may come into play on this specific case. This of course is the step where a lot of questions pop up, so be prepared.
4. Present to your Client
The quote is as accurate as possible and it’s time to review with your client. At this point, you will have discussed the quote, application process, and next steps with the Redbird team. You are ready to field the questions from your clients and start writing your first life insurance application.
5. Submitting new business
This starts the fun part. Life insurance carriers are picky, for obvious reasons, so there’s always a learning curve. That’s ok, because we will help scrub your applications and ensure they are complete before sending them to the insurance company. Below are some of the key pieces of information that agents often miss when submitting life insurance applications. These are what we will look for when scrubbing your new business to ensure your cases get placed fast.
- Primary beneficiary
- Birthplace
- Social Security number
- Modal premium
- Replacement forms
- Product name and type
- Net worth
- Household income
- Health condition explanations
- Insurance producer number
- Voided check
6. Delivering the Policy
We ask our agents to deliver every policy in person if possible. It strengthens your relationships and opens opportunities for referrals.
Life insurance is not a transactional business and those who treat it that way will be short lived. Building strong client relationships will ensure you have a steady stream of leads and new business to write each year. Our job as insurance agents is to impact people’s lives and that doesn’t happen unless you are absolutely committed to doing the job right.
Our team is ready and able to support you and help increase your life insurance sales. Whether it’s a simple term case or a very dynamic hard-to-place case, we have the resources to help increase your chances of helping your client and making the sale.
Call us today for more information about getting started selling life insurance in your agency. You can reach us at 866-547-8780, ext. 102 or email drew@redbirdadvisors.com
