I’m about to show you how to make $20,000 a month with life insurance so fast that it feels illegal. In this article I’m going to break down exactly how to actually get into life insurance how to structure your calls and exactly the frameworks that I use to get to 20,000 a month in less than 90 days. And it’s not just me. I’ve even had people on my team like JP be able to get to over 20,000 a month within their first few months. And if you can understand how this works properly you’re going to make way more money than the traditional high ticket closing role with much easier calls and less objections.
Why 99% of Sales Reps Are Walking Into a Trap
But first let me tell you why 99% of sales reps are walking into a trap. Because if you look at the bigger sales industries like high ticket closing it seems amazing. You get calls booked into your calendar big commissions flexible lifestyle. But when you really look into it you can only take so many Zoom calls per day maybe eight to 10 max. Not only that you’re restricted by how many calls you can get booked into your calendar by the marketing team. Even at peak performance like I said 8 to 10 Zoom calls per day. You can only collect so much cash. And that’s not even accounting for no shows unqualified leads and if the marketing drops off then your cash collected significantly decreases. If you stop taking calls your income is completely gone. There’s no ability to scale or actually build a real business. And that’s why most closers have super inconsistent income. One month might be good other month might be bad. They’re constantly riding a roller coaster.
Now if you compare that to a volume based sales model rather than having to wait for calls to get booked into your calendar you can control your activity. You can use automated dialers and systems to do all the work for you and easily outreach hundreds of people. Let the systems do the work for you and you step in once someone answers. And if you’re able to generate more conversations rather than having to rely on people getting booked into your calendar that means you’re able to have more conversations which means if you have more conversations you have more chances to close. And if you’re able to close more obviously that equals more money.
Another huge difference is that whenever you buy your own leads you actually control them. Whenever a company is in charge of marketing and giving you leads that money comes from somewhere. Typically it’s directly out of your pocket and you get paid less commissions. So whenever you can control your own leads you control how many conversations you have and you make more commission. You get to completely set your own schedule. When someone requests information about life insurance they know that they need the product. You don’t have to spend an hour long handling objections trying to convince someone that they need the product because they already know that they do. You don’t need to shift their mindset or handle objections around fear. Simply taking a call and the main questions that you’re going to get is how much coverage should I get and is this the best plan for me?
The Main Types of Ways to Sell Insurance
Now here’s where most people get lost. They understand the opportunity but they don’t know how to actually execute. So I’m going to break down my entire process. First you need to understand the main types of ways to sell insurance.
The first one is going to be a captive agent. This basically just means that you work for one specific company so that you’re tied to their product. Typically they’re in charge of marketing giving you leads but your income is at a massive disadvantage because they control your leads. You get paid less commission and you’re capped. Not only that it just makes it harder to sell because you can’t actually shop around and find your client the best possible product because you’re restricted to just sell them the one company that you have access to.
The second type is going to be a broker agent. This just means that you have access to multiple of the top rated carriers so you can actually shop around for your clients find them the best product. Typically if you’re a broker agent you’re a lot more independent. So you do have to pay for your leads most of the time but that also means that you have uncapped earning potential and you can make a lot more money as well as you have the best products to actually sell your clients. So you’re at a massive advantage when it comes to closing the deal.
The best way to go is to become a broker. That way you have access to multiple carriers you can find your clients the best policy and you have higher earning potential.
The Four Main Types of Leads
But having access to different products means nothing if you don’t actually have people to sell to. So who do you actually sell to? There’s going to be four main types of leads.
The first one is going to be volume leads. These leads are typically 35 cents to a dollar per lead. These are very cheap. They’re great for hitting volume and typically they come from an ad that’s not directly related to insurance but they filled out a question expressing interest in insurance. And typically with these leads I’ll close about one to two per hundred. And you can do the math because off of one sale average commission is going to be about 700 to 1,500 per deal. So they’re very profitable leads. And these are the best to start out with because they’re so profitable and you get the best experience because you can hit a high volume of them.
The second type of lead is going to be age leads. These are people that filled out a request for insurance 30 days to 100 plus days ago and they’re typically about $1 to $3 per lead and you can close one out of every 50 to 75 leads. These are great because they’re high intent people. Sometimes they even have their beneficiary name listed. It’s just been a little bit of time. So you need to remind them of what they had put in. But these are great to advance to after you hit the volume leads. Commissions going to be about the same 700 to 1,500 per deal. So also extremely profitable.
The third type of lead is fresh leads. These are really high intent leads. People that filled out something about insurance one day ago to 7 days ago or even the same day. Typically these are a little bit more expensive about 20 to $30 per lead but they’re extremely profitable because you’ll close one in every 10 to 15 people that you talk to. So these aren’t the type of leads you want to start out with because they’re a bit more expensive but once you have your sales process down these are super good because you don’t have to talk to many people and you’ll make a lot of money.
And the fourth type of lead is live transfer leads. And these are a gold mine because these people literally call a 1-800 number live asking for insurance and they get transferred directly to you. Now of course they are going to be a little bit more expensive because they’re basically ready to buy on the spot. You just need to close them. They’re about $30 to $50 per lead. You’re going to close one in every 3 to five people that you talk to. So these are very good for buying back your time and you only have to take a few calls a day to make one deal.
My Exact Script Framework That Has Generated Over $300,000 in Sales
But obviously having leads means nothing if you don’t know how to actually sell them. Here’s my exact script framework that’s generated over $300,000 in sales.
The introduction very simple. Hey John it’s Jonathan. I just had a quick second to get out to you right now just because I do have your file on my desk here. Just looks like you had requested a little bit of information on those new Texas Life programs where you listed your date of birth as January 1st 1960. Is that correct? They’re going to respond. Okay. And were you still over at the 123 Main Street? Okay perfect. And I’m assuming you haven’t received anything out in the mail about this yet. Is that right?
Immediately you’re getting your three yeses. And in the introduction you always want to get your three yeses because again these aren’t calls being booked into your calendar. So you want to build the trust. You already have their information. They filled it out. Get your three yeses and then move on to the next part.
This is basically just telling them hey it’s only going to take 5 minutes here. Just before I can I’m required by the state to give you a little bit of my personal information. Do you have a piece of paper to write that down real quick here? This is where you’re going to build a lot of trust because you’re giving them your personal information. You’re going to have them write down your full name and your license number and you’re going to let them know hey this is so that you can actually verify that I am a licensed agent. That’s immediately going to build a lot of trust. If you can get them to this point their guard’s going to be completely down. It’s pretty much smooth sailing from there.
Then you just want to take medical as well as financial inventory. Give them a reason as to why you’re asking the questions. You want to make sure that you’re giving them accurate rates. That’s going to kind of depend on how they’re doing medically. Figure out how they’re doing medically. Figure out kind of how much money they’re making. That way you can give them quotes in a ballpark that’s going to be affordable for them.
Once you get your inventory of that then you’re actually going to move on to building value. Okay so in terms of the actual coverage what was the biggest thing for you? Figure out whether it was taking care of final expenses or if they just wanted life insurance to leave some money behind for a loved one. And then dig into whatever they said. If they said it’s final expenses ask them who’s the beneficiary right. What happens if they don’t put anything in place? Is their beneficiary going to have to come out of pocket or take out a loan? Really dig into that. This is just a few questions that I use but it’s going to be dependent on the situation. And you want to dig into the pain and make sure that they understand that this is something that they actually need. The best way for them to understand that is by asking questions so that they can come to the conclusion themselves. That’s much more powerful than actually telling them.
After you’ve built up their why and put them into a state of buying where they’re ready to purchase then again you just want to build a little bit more authority. Tell them hey like I told you earlier I don’t work for a specific company. We work with different carriers so I’m able to do some shopping around and find you the best rate to put you and whoever their beneficiary or family in the best situation.
After you reconfirm that and they’re in a buying state they know that you’re going to be the best person to get them the best product. Then it’s just highlighting the benefits of the product. This is sort of going to be the pitch so that they fully understand what the product is. And you’re going to tie this in to how it’s going to meet their needs for whatever they just told you.
Once you go over the benefits then you want to transition to giving them quotes. Just let them know hey obviously this sounds good and all but for now it is hypothetical because we need to see if we can actually get you approved but I can pull up some numbers for you here. This transition right here is so good because psychologically it’s like hey obviously these sound great and all but then you pull away and you let them know they need to actually get approved. So now they’re put in a state where they are kind of chasing after you because you’re the one that can help them get approved.
And then after that then you go over quotes and then ask them hey out of these numbers which one’s going to make the most sense to submit with? And then they’re going to give you a number. You fill out the application you get their social you get their banking and then they’re closed.
Now it’s very important for both of these asks since they’re big asks you need to make sure to add some context. Don’t just say hey give me your social. You want to give them some context. Okay perfect. Obviously the carrier is going to be doing a prescription check on you just to make sure that you’re healthy enough to qualify for this. For that they do need your social of course. So just go ahead with that when you’re ready and then shut up. Same thing with banking. You can come up with something but you just want to add some context and make it make sense to the client. After that you close them.
Objection Handling
Now for the fun part the objection handling. What do you say when someone actually gives you an objection? Like I said most objections with this is going to be around numbers choosing the right plan because it’s a product that people know that they need. So if you give them all the quotes and they tell you hey I’m not really sure I need to talk to my spouse need to talk to my brother my loved one my dog whatever they want to say. Whenever they give you an objection here’s how to actually handle that.
So first thing that you want to do here is just isolate it. Make sure that this is something that they actually want to do. So be like oh okay so completely understand. Obviously you want to talk to the wife. Besides that is this still something that you were for sure wanting to put in place you just want to kind of decide which coverage amount is going to be best to go with. And then at that point they’re going to tell you yes exactly I know that I need it. I just need to decide the right plan for me.
So then at that point then you say okay in that case what most people do just to make sure that you can at least have something in place is they just go for like the lower coverage amount or the lowest coverage amount. That way we can obviously make sure you can get approved and you have coverage in place. But then if you take some time to talk to your wife and you decide that another plan is going to be a little bit better we can always bump it up from there. Because if you get approved for that then you can also get approved for those high amounts. Does that make sense? And then at that point it’s a no brainer. They get to have some coverage in place in the meantime while they think about it. And then they can also decide on the actual coverage amount that they want.
The second objection that you’re going to get besides like oh I’m not really sure which number you might just straight up get hey I need to think about it. And they’re not even going to let you tie them down on them just choosing the coverage amounts. They just simply need time to think about it. They’re not making a decision.
First thing that you want to do is diffuse. Don’t get defensive and combative. Just say yeah no worries at all. Completely understand. We can schedule an appointment for another day so that you have some time to think about it. How long do you need? And then you schedule in a fake appointment. Okay we’ll talk next Monday at 1:00 p.m. And then before we go just want to make sure obviously I’m doing my job properly and I have everything prepared for our appointment next Monday. What was kind of like the biggest thing that’s coming up for you that you’re wanting to go over? Maybe I can help. And then the real objection’s going to come out whether it’s money deciding which number to put commitment or any other ones. Then you have the real objection and you can actually handle that rather than having to take an appointment next week that they’re not going to show up to.
So once you get the real objection then you can just be like okay yeah definitely understand John. So besides obviously deciding which number it is or making sure that you’re committed or making sure that you have the money is this still something that you were wanting to put in place just to make sure like your family’s covered when something happens to you? Obviously they’re going to say yes because they literally just told you that. And then from there and this is just going to be a very general objection handle for really any objection they can give you is since you’re the expert you already told them that you’ve been doing insurance for a while you know what you’re talking about. Okay do you mind if I give you my advice? Of course they’re going to say yes and then you can plant the seed.
So I completely understand you needing to take some time or you know making sure that you have money or making sure that you can actually make this commitment. But last thing that I would want you to do is go over all of that. You know take all that time deciding whether or not you can afford it and then you come back and tell me that you want to put something in place and you don’t even get approved. So the biggest thing we can do today is see if we can even actually get you approved. That way we have all the final options and then if you have any questions from there we can go over it so that you’re making the most informed decision. Does that make sense?
Get them to the end of the application close them and then before actually submitting the policy because you don’t want to just close a deal based on hey just getting you approved. Once you close the deal then you handle the last kind of objection. Once you see whether or not they get approved you’ve already gotten all their information. You’ve done the hardest part. Then you can ask them like hey looks like you did get approved for this. Is there any reason having that coverage in place for your family wouldn’t make sense for you? And then just handle it there. Make sure that they understand the value. And then boom they’re closed.
As you can see most of the objections that you’re going to get are pretty basic to handle. Only takes a few minutes. These calls generally span about 15 to 25 minutes total. So they’re not super complicated long winded calls where you’re handling a ton of objections.
How You Get Paid
Once you actually close the deal the premium gets taken out of the customer’s bank 24 to 48 hours after the day that works best for them. And then you get paid your commission normally a couple days after that first payment gets made. Commissions can vary depending on the product but in general you’re going to get paid around 75% upfront and then you’ll get paid 25% on the back end after 9 months and then about 2 to 5% every year after that that the client keeps paying on the policy. So if you close a deal that’s $200 a month you’ll get paid almost $2,000 commission just from that one deal.
And I always want to be transparent with you guys. It is sales. So obviously you can get chargebacks for most carriers. If the client cancels within six months then you’ll get charged back the commission that you were paid. After 6 months you’re generally safe. They’re not going to charge back the full commission. So that’s just why you want to make sure that you’re selling the clients the right way giving them the product that they actually need and not just forcing deals through.
The Systems You Need
But to handle this amount of volume you definitely need the right systems and you need to make sure that you’re tracking everything. So to handle this volume I use a few different systems and software.
The first thing that I use is going to be a triple line dialer. This dials three leads at once so I can be three times more efficient. Rather than having to manually dial one person at a time through a phone the software does all the work for me and I can make over 600 dials as opposed to just 100 or 150 if I was just manually dialing them through my phone.
The second thing is going to be a CRM. This tracks all of my leads. People that I’ve already called people that I need to follow up with people that have closed. It’s very important to know who you’ve called and what’s happened. Organization in business is very important and the CRM helps you track all of your leads.
Building a Team
Now with this opportunity you can get to over 50,000 a month just calling and making sales by yourself. But if you want to transition into building a real business to where you don’t have to just make calls to make money then you can start building a team. I’m going to show you exactly how that works.
First you bring in new agents. You train them. You help them out with leads at first. And you give them all the right systems to succeed. And once you get them trained up you get about five to 15% of their total commissions that they earn. So if you have five agents that are doing 10,000 a month and you’re making an average override of 10% you’re going to be making an additional $5,000 a month of passive income on top of your personal sales. And some of the top producers that I know that have teams of 20 to 50 agents that are selling are making over 100,000 a month. And this is how you build real wealth in a sales position like this.
How to Actually Get Started: Step by Step
So how do you actually get started with all of this? Because there is a certain sequence of steps that you need to follow.
Step one is getting your life insurance license. If you go to your state website most states require about 20 to 40 hours of coursework before you can actually take the test. Those courses usually cost $200 to $400. It typically takes about one week to go through all the coursework and study and then once you’ve gone through that then you can book your state exam. Depending on the state it typically costs around 50 bucks so not super expensive and the passing rate is very high. Now once you’ve actually passed the test then you can apply for your life insurance license in the state that you’re in. All you have to do is fill out all the information purchase your license and then typically wait about 1 week for final approval.
Now the next step after you study the material you pass the test and you have your license. Now it’s actually getting contracted and onboarded with the carriers. And this is where having a good upline or mentor matters a lot because then they’re going to put you in the best situation to have good commission levels and you’ll have the best products to actually sell. But going through all that and getting licensed and contracted is the easy part. The real challenge begins during your first one to two weeks.
Day one once you’re onboarded you want to make sure that you’re set up to actually succeed. So this is where you want to put all of your systems in place. You want to have your CRM your triple line dialer and you want to purchase your first batch of leads. As I mentioned I always recommend starting out with volume leads. These are going to be about 50 cents each. So you can purchase a batch of 300 for 150 bucks and you should be able to get your first sale if you have the right sales process.
Now after the first day once you’re set up with all the systems now it’s the fun part. You get to actually start dialing. You should be aiming to make 500 to 600 dials per day. And at first you’re going to suck. You’re going to lose people at the beginning of the call because you don’t know how to handle basic objections. You’re still getting comfortable with the script. But you need to push through because this is where most people give up if they don’t see results at first. But if you keep pushing you’re going to get your first sale as you get better.
Your first month you should focus on getting 5 to 10 sales. This is going to prove that the systems and everything you have in place actually work and it’s going to build your confidence. Your goal should be to make $2,000 to $4,000 commission in your first month.
Month two you need to make sure to stay consistent. Make sure that you’re hitting your inputs of 500 to 600 dials per day. Try different lead sources. Start graduating to age leads maybe even fresh leads and you should be aiming to hit $5,000 to $8,000 commission in your second month.
By month three you should still be hitting 600 dials or more every single day but at this point you should be comfortable with the script and handling almost every objection. So you should be closing at least one deal per day. And that needs to be your standard. Your goal for this month should be hitting $10,000 to $15,000 in commission.
By month four if you don’t get comfortable and you stay consistent this is where you should be hitting at least $20,000 per month consistently.