Introduction Of How You Become A Mastering The Game of Business In Insurance Law
How You Become A Mastering The Game of Business In Insurance Law. A young guy in your prime very athletic you’re very very talented the key difference and why a lot of people lost to tom Brady is people rely on their talent their natural athleticism and tom brady’s at home clicking when I say clicking he’s watching film ray said if you’re a young guy.
How to beat him specifically
You’re getting ready to play tom Brady if you’re watching the film for one hour and tom brady’s clicking for five you’re not going to win that battle and that’s the kind of stuff he would do non-stop through the later years of his career he’s still going how does he do that he’s got that discipline that drives to keep going thing about ray what he would say is the only way he could beat Tom Brady.
He mentioned Peyton manning in this conversation as well the only way he could beat those two guys was if he would sit down and do the boring work takes a lot of time to study those guys and figure out how to beat him specifically he’d watch film study took a ton of time a lot of time that a lot of players and people if we go back to the game of business, don’t want to invest.
That’s what it comes down to at the end of the day think about this before I get into the examples I have here think of a professional that you know maybe they’re an attorney maybe they’re a financial advisor maybe they’re a car salesman think of the absolute best in their sp in their respective trade whatever it is that they do that’s the best person you know or they’re known nationwide may be in your area.
Their product they know their service
They’re the best why are they known as the best well they know their product they know their service inside and out to get an answer to a question you can do research which might take you hours to get the right answer or you can ask them and they know right off the top of their head they can provide that answer to you in five seconds.
So they’ve taken in all of that knowledge over time so they’re extremely knowledgeable but then number two they can communicate it extremely effectively they can articulate a very complex message to you in plain English again in five seconds maybe takes a little bit longer than five seconds but they are the go-to source they’re your person that’s the person.
You want to do business with that’s the person you want to want to hire you to want them on on your side because they are a master of the game so when you have that person in mind think if you’re in business or sales how do you get to that level that’s the key there that’s how you can elevate your game and start to become a master it takes quite some time to get to that.
Whole life insurance policy this was several years
Level out so we’ve gotten blue sales competition most salespeople know who their competition is typically they can name their top three competitors before they can name their top three clients this happens a lot my advice here would be to have a laser focus on your consumers, not on your competition it’ll help you grow so so much here.
But I’m going to give you a story here and we’re going to use some technical terminology with a company called guardian and their paid-up edition driver which is a nice way to accelerate the cash value and a whole life insurance policy this was several years ago I think this was 2018 may have been early 2019 I’m working with a prospect someone interested in a high cash value life insurance policy. You Can Also Read 38-Year-Old Dentist owns 23 Offices! $100k In A Year With Insurance Policy How Its Possible.
We’re looking at guardian he had been working with a competitor and he still was speaking with a competitor he was speaking with the competitor and me at the same time on different occasions but over phone calls zoom calls he was interested in a high cash value policy now one of the reasons.
He was interested in the guardian due to their pua limits and their flexibility guardian is a company when it comes to their pua rider you can throw it into the policy anytime you want and as long as a one-year term rider is attached you can pay 10 times your base premium in puas annually no problem you can just pour the money in so I’ve had that conversation with him.
The insurance company’s
We’ve had people that have been doing that forever he speaks with a competitor the competitor was experienced more experienced than me he pulls that illustration out points to I think was page three to the prospect and he says look at this on the illustration in bold it reads the maximum pua payment aside from the first year.
So beginning year two is only three times the base premium puas and I have told him 10 times the base premium push so I told him one thing but he sees in writing on the insurance company’s life insurance illustration that he can only do 3x if you were him who do you believe if I was him who would I believe the illustration is from the company, not some guy.
Who just wants the sale now I knew 10x was possible because people have been doing it forever I’d spoken with guardians several times at that point in my career but that individual decided not to move forward with me he moved forward with the other guy and we encountered that problem several times after the fact as well so what do you do in that situation competitive situation competitor found out.
How to beat us and then kept on going back to that same play right he’s got the pass over the middle to use this example how do I study film to make sure that we don’t run into this issue anymore well without getting into all the details I hit on a couple of bullet points here first bullet point we knew that policyholders could pay 10x the base premium they’ve been doing it.
Pour money into the policy
So in the full contract language which is the contract is over 100 pages long a lot of fine print great material to read if you want to fall asleep but on something like page 70 or 80 you see the section with the one-year term rider and where it reads if a one-year term writer is attached guardian will permit you to add puas that exceed the standard pua limits.
So they will allow you just to pour money into the policy so that’s one section where we kind of see okay you can exceed 3x the base premium but they did not put 10x the pace premium in that particular section however other memos other pua rider manuals existed that stated the clean 10x meaning I can pay 10x the base premium puas if this rider is attached if it’s not or.
If I remove it then it’s 3x the base premium push very easy stuff to follow right that leads into my next point what we did first gathered all of that material and organized it in a very neat fashion but even with that I can’t send that to someone and say see here you can pay 10x the base premium push and then we’re going to beat the competition all the time no.
New agent that blog solves the problem
What the literature from the company the formal memos that say you can do this and then a video we’re explaining it to them with visuals at that point people saw and said I get it 10-minute video took I don’t know how many hours upon hours.
It took days just collecting the data and reshooting but we had to sit down and put the time in do the boring work who wants to do that but the the purpose to that was to collect all the data put a video together now whenever that question comes up again especially if we have a new agent that blog solves the problem that particular problem but.
How do we become a master at the game i keep saying we because it’s our entire office it is not just me and i can’t do it on my own so a couple things here what do we have let’s just touch on one of them this is a sensitive subject to many whole life is a rip off whole life is a scam it’s safe to say that agents that sell whole life insurance and dave ramsey typically don’t like each other and both sides can come off as arrogant at times not to say they are hurricane but they come off as arrogant meaning particular agents.