How to Get Life Insurance Clients

So you studied for weeks, took the test, passed and have become a life insurance broker. Congratulations!

That’s a great thing. I bet you can’t wait to get life insurance clients and start signing people up with the coverage they need to protect their finances and their families when disaster strikes…but there is just one problem. Your phone isn’t exactly ringing off the hook…yet.

Why not?

Life insurance isn’t one of those services that people love to seek out.

While stores that sell groceries and the corner liquor store are in hot demand, expecting people to flock to your doors to discuss death, injury, accidents, financial distress and the peril of their love ones – and then pay money as a result of that conversation – is a foolhardy notion.

It’s up to you to find potential clients and to help them feel comfortable with the necessary conversation.

How can you do this?

Before we look at how to get life insurance clients, let’s look at how not to get the clients you need.

Mistake #1 in Getting Life Insurance Clients: Desperation

If your life insurance licence is paying the bills, you may start to feel desperate when you are not getting the life insurance clients you need. Those commissions are supposed to pay your bills and mortgage, so a silent phone is not ideal! If you become desperate, however, you will make the huge mistake of pushing to hard or  harrasing your clients into a policy.

Not only is this a fast way to sink your reputation as a broker, but it’s also an equally fast way to have your commission clawed back when the client exercises their 10-day cancellation right.

Mistake #2 in Getting Life Insurance Clients: Relying on the Wrong Network

Networking is great! It can help build your business and keeps you in touch with like-minded professionals. However, not all networks are created equally. If you are relying on the friends and family of your clients to promote your brand, good luck.

Short of demanding that they give you a list of phone numbers for the people they know, you really can’t expect your clients to casually slip into conversation, “great hockey game last night, wasn’t it? And by the way, Sally and I have spent quality time going over our finances and insuring our risks. Want to hear all about it?”

Of course your satisfied clients are more than happy to recommend you when the opportunity comes up organically, but if they are your only source of new leads, your business will grow at a snail’s pace.

Mistake #3 in Getting Life Insurance Clients: Not Doing Anything

You’ve put up a few ads on Facebook and you optimized your website for SEO traffic. What more do you need? Well, every life insurance broker in Canada has done the same thing. Life insurance clients are not always going to find you. You have to find them. You need to be proactive every day.

Here’s how to get the Life Insurance Clients You Need

Two words: Lead Bank. Lead Bank is an open platform CRM system that enables you to get the life insurance clients you need without making any of the three mistakes above. The program lets you build a powerful network of referral partners  and lead sources that can quickly and easily refer clients to you.

Lead Bank is also a life insurance advisor CRM with all  tools you need to organize your database, manage your leads and be transparent with you lead partners without compromising your client’s data.

Once you connect with professionals in the financial industry (like mortgage brokers, real estate agents and debt counsellors, dealership credit managers) and even in the non-profit sector with groups that could be financially motivated to provide you with leads in exchange for a referral fee, your lead sources simply sign into Lead Bank and input the name, number and email of their lead.

You get a notification and close the sale. It’s that easy.

When you use Lead Bank, you don’t have to feel desperate because you get a steady flow of sources providing you with potential clients. You are not relying only on your existing clients for leads because you are building your own powerful network.

The best part? You are being proactive in ways that truly build your business.