Yet another two Blue Cross apps. I'm in Blue Cross hell this week - all older smokers but a client is a client. I have 6 appointments set up by Wednesday so all's well. Ok, long message below but I have to vent.
And as I posted before I had to clear up a MD tax debt from back in the day - over 7 years old because my license renewal is flagged. Ok, no problem - I got the amount, got a cashiers check and headed down to the state building. When I was on the phone with them I was adamant that this was all I needed so I could proceed with my renewal. The guy said yes.
So of course I'm across the desk, she fires up the computer, I hand the check over and she says "what's this?" I knew I was screwed.....now what. She said that amount was for the taxes but didn't include not filing state returns for '93 and '94. Umm....that would be because I wasn't in MD then. I was in Las Vegas. She said the computer had me flagged since I filed in '92 and in '95 but not the years in between and also showed no other state return filed for those years. That would be because there's no state tax in Nevada - I just filed federal.
Now I've got them jammed up and since "the computer says" there's a flag then there's a flag. Now they want my federal returns from those years, W2 AND copy of my NV driver license as proof I was in Vegas. I just wanted that flag lifted. In comes the supervisor who basically took me at my word, lifted the tax flag BUT said I have 30 days to prove I lived in Vegas.
I got a bit indignant. Why should I prove I didn't live in MD? Does everyone who doesn't live in MD therefore doesn't file a MD return get flagged? Everyone who moves gets flagged? The best the supervisor could come up with was the computer program simply found it odd that I filed up to '93, no return in '93-'94, then returns in MD since '94 - but that's not my problem and this is "guilty until proven innocent." Did they have MD W2's showing I lived/worked in MD those years? No. Did I get any type of letter from MD stating I was flagged? No. All I got was a letter from the DOI stating I needed to take care of the taxes.
So basically this is overly-agressive computer system. Sometimes you have to very politely stand your ground. In a normal flag situation they have proof you didn't file properly. In this situation they didn't have squat - nothing showing I should have filed in those years. So....while being polite and not blaming the supervisor my recommendation was she erase the flag or I just plead my case in court - just over the principle of it. I think it helped that the supervisor saw my point of view and admitted that in all flag cases they have proof there is money or a return owed.
Remember - it's not I could just leave. She only lifted the tax flag with my payment, but not the other flag for not filing which would have still held up my renewal. I needed both flags lifted. I have no earthly clue how long it would take me to get copies of my federal return, W2 and copy of my license.
So out of the room she goes. Five minutes later she's back with another supervisor. I politely asked him if they had any type of proof that I lived and worked in MD during those years and should have filed a return. He admitted they had none and deleted the flag. Case closed.
Sales training basically got that flag lifted. Before the sales field I would have been rude, indignant and demanding. These are state workers approaching lunch time and you never want to mess with anyone working for state and lunch hour. Any hint of nastiness on my part would have resulted in "have a nice day - get out" but any hint of weakness would have resulted in the same. Very tough balancing act.
Friday, October 19, 2007
Thursday, October 18, 2007
Had my church meeting
Whew. What an ordeal that was. I met with the church committee at 1:30 - just got home a bit ago. They have not cancelled their group yet like I was told. They have Empire Blue Cross, 80/20 PPO with a $200 deductible and the cost per family is $1,596 - single is $532.
First of all, they basically have no broker. Someone simply called Empire years ago, they assigned them to some broker who won't return their calls. I'm stunned - it's a huge group. I thought it was just this parish, but the entire diocese is yanking the group plan effective Jan.
And it's pure insanity. Fist off, it's insane they have a $200 deductible plan. Secondly, it's insane that the diocese is paying 100% of the family rate. You heard me, the employee and entire family are free. What church can afford $1,500 per month per family?
Ok, so I was thrown to the wolves sitting around a table of 12 people who were thinking they were losing health coverage in 2 months. Conditions? You name it - diabetes to autism and everything in between. Going with indie plans for everyone would be a cataclysmic mistake and nightmare.
Obviously my recommendation was to look at other group carriers and plans with much higher deductibles. A few kicked and screamed at that recommendation until I went over what an affordable indie deductible, OOP and drug deductible would be. That shut 'em up pretty fast. On top of that they were also informed that the diocese would not be able to legally reimburse them for indie plans. That was the nail in the coffin - definitely sticking with group.
So now I have a week to gather up a ton of group proposals and meet back with everyone including one of the head's of the diocese who makes the call. This will be a fantastic group case for me!
First of all, they basically have no broker. Someone simply called Empire years ago, they assigned them to some broker who won't return their calls. I'm stunned - it's a huge group. I thought it was just this parish, but the entire diocese is yanking the group plan effective Jan.
And it's pure insanity. Fist off, it's insane they have a $200 deductible plan. Secondly, it's insane that the diocese is paying 100% of the family rate. You heard me, the employee and entire family are free. What church can afford $1,500 per month per family?
Ok, so I was thrown to the wolves sitting around a table of 12 people who were thinking they were losing health coverage in 2 months. Conditions? You name it - diabetes to autism and everything in between. Going with indie plans for everyone would be a cataclysmic mistake and nightmare.
Obviously my recommendation was to look at other group carriers and plans with much higher deductibles. A few kicked and screamed at that recommendation until I went over what an affordable indie deductible, OOP and drug deductible would be. That shut 'em up pretty fast. On top of that they were also informed that the diocese would not be able to legally reimburse them for indie plans. That was the nail in the coffin - definitely sticking with group.
So now I have a week to gather up a ton of group proposals and meet back with everyone including one of the head's of the diocese who makes the call. This will be a fantastic group case for me!
Getting set up as an agent - checklist
A few people have asked me about how to get set up. Here ya go:
1) If you want to use an agency name you need to file it with your DOI. You'll also need to file a fictitious name with your state. If you're a sole proprietor you do not need an EIN - you can use your social.
2) Use a business email - not something like paulybear33_1983@yahoo.com. Never use a free email account like Yahoo or Hotmail. It's unprofessional.
3) For heaven's sake set up your voicemail. I can't tell you how many agents I call and get "leave a message." That's not a professional recording. I swear I called an agent once and got "you know what to do."
4) Get a fax service - I use Efax but there's many others. It's well worth it not to worry about paper jams, running out of toner, error messages or poor quality.
5) Get a website and DO NOT do it yourself. Nothing looks worse then someone trying to design their own site - unless of course you're a professional web designer.
6) Have some type of system to back up your data; client info, leads, etc...I upload my docs and files into my Comcast account. If I crash I don't lose anything. I'd use some kind of online system - backing everything up with a flash drive or something like that won't be of any use if there's a house fire. It's not only crashing I need to worry about. What if I have 3 appointments tomorrow and the power goes out? I can just call my sister, have her log into my Comcast account and she can get me the app't information.
7) Get some type of database management. I use YIO - http://yourinsuranceoffice.com and recommend it.
8) Get cards. You get get free cards at Vistaprint.com It you want to design your own cool cards or choose from more templates I use printsmadeeasy.com
9) Buy thank you cards. Every client should get a hand written card.
10) Set up a business account at your bank. If you're buying any type of leads, be it shared or telemarketed I highly recommend using a debit, not credit card tied to your business account with a very low balance. Why? Many agents, including me, have been mis-billed for leads. You don't want to be in a situation where you have a legitimate dispute an in the mean time you get hit for $1,000. If I know $300 is coming out of my business account I have that available. If someone tries to hit it for $1,500 the transaction simply won't process.
11) Set yourself up correctly for taxes. You need to file quarterly. If anyone is telling saying that you don't need to file quarterly and you can pay yearly just call the IRS. With almost no exceptions unless you're a W2 employee you owe quarterly: http://www.irs.gov/businesses/small/article/0,,id=110413,00.html
12) Keep an expense log, file all your receipts. The most audited group of people (not businesses) in the country now are at-home self-employed. If you're deducting mileage you need to keep a log. Obviously you need receipts for any expense. When in doubt use a reputable CPA to file your returns. If anyone is giving you any type of tax advice and they are not a licensed tax professional always verify the information. It won't be them getting a letter from the IRS.
And lastly, a tip. Do NOT pre-pay any more than $100 for leads. I've seen some vendors demand $500 down, others demand a full month upfront, etc...No way.
1) If you want to use an agency name you need to file it with your DOI. You'll also need to file a fictitious name with your state. If you're a sole proprietor you do not need an EIN - you can use your social.
2) Use a business email - not something like paulybear33_1983@yahoo.com. Never use a free email account like Yahoo or Hotmail. It's unprofessional.
3) For heaven's sake set up your voicemail. I can't tell you how many agents I call and get "leave a message." That's not a professional recording. I swear I called an agent once and got "you know what to do."
4) Get a fax service - I use Efax but there's many others. It's well worth it not to worry about paper jams, running out of toner, error messages or poor quality.
5) Get a website and DO NOT do it yourself. Nothing looks worse then someone trying to design their own site - unless of course you're a professional web designer.
6) Have some type of system to back up your data; client info, leads, etc...I upload my docs and files into my Comcast account. If I crash I don't lose anything. I'd use some kind of online system - backing everything up with a flash drive or something like that won't be of any use if there's a house fire. It's not only crashing I need to worry about. What if I have 3 appointments tomorrow and the power goes out? I can just call my sister, have her log into my Comcast account and she can get me the app't information.
7) Get some type of database management. I use YIO - http://yourinsuranceoffice.com and recommend it.
8) Get cards. You get get free cards at Vistaprint.com It you want to design your own cool cards or choose from more templates I use printsmadeeasy.com
9) Buy thank you cards. Every client should get a hand written card.
10) Set up a business account at your bank. If you're buying any type of leads, be it shared or telemarketed I highly recommend using a debit, not credit card tied to your business account with a very low balance. Why? Many agents, including me, have been mis-billed for leads. You don't want to be in a situation where you have a legitimate dispute an in the mean time you get hit for $1,000. If I know $300 is coming out of my business account I have that available. If someone tries to hit it for $1,500 the transaction simply won't process.
11) Set yourself up correctly for taxes. You need to file quarterly. If anyone is telling saying that you don't need to file quarterly and you can pay yearly just call the IRS. With almost no exceptions unless you're a W2 employee you owe quarterly: http://www.irs.gov/businesses/small/article/0,,id=110413,00.html
12) Keep an expense log, file all your receipts. The most audited group of people (not businesses) in the country now are at-home self-employed. If you're deducting mileage you need to keep a log. Obviously you need receipts for any expense. When in doubt use a reputable CPA to file your returns. If anyone is giving you any type of tax advice and they are not a licensed tax professional always verify the information. It won't be them getting a letter from the IRS.
And lastly, a tip. Do NOT pre-pay any more than $100 for leads. I've seen some vendors demand $500 down, others demand a full month upfront, etc...No way.
Wednesday, October 17, 2007
Chamber - the gift that keeps on giving!
My phone rings and it's director of St. Stephen's Church which is about five miles from me. She's a chamber member and called me to come there tomorrow and give a presentation in front of the church committee. They dropped group due to cost and now everyone's on their own. Wow...I'm very excited to run that appointment. Wait! Maybe I should just do that on the phone - they can teleconference me in. Lol. (Ok, I'm a smart ass.)
In other news, the workforce exchange is turning out to be a total bust. I had two lined up to start, both bagged out. I have a lot of "resumes" (if you want to call 'em that) and about 90% don't return emails or return messages. My theory was some of them would really appreciate a home-based job. Guess not. No problem. I posted a regular ad and will simply go the proven route.
In other news, the workforce exchange is turning out to be a total bust. I had two lined up to start, both bagged out. I have a lot of "resumes" (if you want to call 'em that) and about 90% don't return emails or return messages. My theory was some of them would really appreciate a home-based job. Guess not. No problem. I posted a regular ad and will simply go the proven route.
Meet your clients
Good week so far, 5 appointments set and I banged out two Blue Cross deals yesterday.
Lots of emails about selling online vs meeting with clients. If you're new my advice is to meet with everyone. If you've been around for a while and phone sales haven't panned out the way you imagined then meet with everyone. If you're successfully selling online then fine, I wouldn't change a thing. If you're not successful online, then read on.
Who wins:
Agent 1: He's not meeting with anyone. That's bull! He can sell from home, save gas and you don't have to meet people to sell health anway. He had 6 phone appointments scheduled least week, only 2 answered the phone, did a presentation for both and sold one.
Agent 2: Scheduled 6 physical appointments, ran 5 and closed 3.
At an $800 average commission agent 1 made $800, agent 2 made $2,400.
Another point I want to make is this: It doesn't matter what someone else is making. It only matters what you're making. I hear a lot of "but I know this agent Bill - he closes 3 deals a day from home!!!" Great - call Bill and ask if he's willing to pay your mortgage next month.
At this point I meet with about 70% of my clients, but I've been at this for 4 years. Had I tried phone selling when I was new I'd likely be out of this field. Would you really be that pissed if you scheduled 8 appointments a week, ran 6, closed 4 and made over $3,000 a week? At this point I have the skill level to never meet with a client, but I didn't get into sales so I could avoid human contact. In fact, it got very depressing for me to just sit in my house all day.
I think there are two main reasons agents don't enjoy running appointments; 1) No-shows. 2) No sale. Both of these can be avoided. My closing percentage when I meet with clients is over 95% - I rarely leave the appointment without an app. Why?
1) I don't set appointments with people who have little to no interest. Say it's Monday, I'm trying to set the appointment and get this: "Well...heck I know this week it out. I'm swamped. Maybe sometime next week around Thursday or so." Forget it - they don't to meet with you.
2) I do an in-depth health qualification. I'm not gonna sit with a client and be blind-sided with a pre-ex condition I didn't know about.
3) I NEVER say I'm coming over just to show them plans, quotes or to simply give them information. I tell them I'm coming over so they can choose a plan. I go over the application and underwriting process so they're well aware that I'm coming out to write an app.
4) I don't schedule appointments just to close deals. What I mean is, I need to greatly better their current situation. I'm not coming out to see a family of 4 paying $480 and the best I can do is $440 with a solid plan.
5) I always call to confirm. If they don't confirm, I don't show. I call the day before to confirm Mapquest directions - which is actually helpful since a lot of times they know a better way. But if I hit voicemail my message states that they need to call me back. No callback = no appointment.
Lots of emails about selling online vs meeting with clients. If you're new my advice is to meet with everyone. If you've been around for a while and phone sales haven't panned out the way you imagined then meet with everyone. If you're successfully selling online then fine, I wouldn't change a thing. If you're not successful online, then read on.
Who wins:
Agent 1: He's not meeting with anyone. That's bull! He can sell from home, save gas and you don't have to meet people to sell health anway. He had 6 phone appointments scheduled least week, only 2 answered the phone, did a presentation for both and sold one.
Agent 2: Scheduled 6 physical appointments, ran 5 and closed 3.
At an $800 average commission agent 1 made $800, agent 2 made $2,400.
Another point I want to make is this: It doesn't matter what someone else is making. It only matters what you're making. I hear a lot of "but I know this agent Bill - he closes 3 deals a day from home!!!" Great - call Bill and ask if he's willing to pay your mortgage next month.
At this point I meet with about 70% of my clients, but I've been at this for 4 years. Had I tried phone selling when I was new I'd likely be out of this field. Would you really be that pissed if you scheduled 8 appointments a week, ran 6, closed 4 and made over $3,000 a week? At this point I have the skill level to never meet with a client, but I didn't get into sales so I could avoid human contact. In fact, it got very depressing for me to just sit in my house all day.
I think there are two main reasons agents don't enjoy running appointments; 1) No-shows. 2) No sale. Both of these can be avoided. My closing percentage when I meet with clients is over 95% - I rarely leave the appointment without an app. Why?
1) I don't set appointments with people who have little to no interest. Say it's Monday, I'm trying to set the appointment and get this: "Well...heck I know this week it out. I'm swamped. Maybe sometime next week around Thursday or so." Forget it - they don't to meet with you.
2) I do an in-depth health qualification. I'm not gonna sit with a client and be blind-sided with a pre-ex condition I didn't know about.
3) I NEVER say I'm coming over just to show them plans, quotes or to simply give them information. I tell them I'm coming over so they can choose a plan. I go over the application and underwriting process so they're well aware that I'm coming out to write an app.
4) I don't schedule appointments just to close deals. What I mean is, I need to greatly better their current situation. I'm not coming out to see a family of 4 paying $480 and the best I can do is $440 with a solid plan.
5) I always call to confirm. If they don't confirm, I don't show. I call the day before to confirm Mapquest directions - which is actually helpful since a lot of times they know a better way. But if I hit voicemail my message states that they need to call me back. No callback = no appointment.
Monday, October 15, 2007
Trying to tie it all together
Good day today - set two appointments. The rest of this month will be spent generating leads from basically everywhere. I have another chamber breakfast on the 24th, the small amount of ads I have still pull - get a few leads a day through my site, I have the Assurant lead program and hopefully by the end of this week I'll have two telemarketers up and running.
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