20,000 hours of selling insurance

A few months back, I wrote in these scrolls that I had a friend who was hiring for a role that would involve 15+ meetings in your schedule, and people ready to buy insurance.

And I have to tell you, I got a lot of people interested in the role—so many that my friend Brad had to send a mass email out to all those interested with the actual job duties because in my haste, I got some of the details wrong. I’m not a details person, after all.

Suffice it to say that the insurance hoard here delivered, and Insurance Igniter subscriber and all-around great guy Luciano Ciccone applied and got the job. Luciano has done such a good job over Emma.ca that they are back to hiring again.

Here’s what Luciano said:

So here we are. They are looking for some new people here in Ontario, two to be exact.

Here are some things you should know about:

• Income should be in the $150,000-$200,000 range, but it’s all commission split, with no salary except for a one-month draw upon starting.

• It’s 100% virtual

• They supply the computer

• They book 15 meetings weekly in your calendar

• Your job is to simply close insurance. ABCs, if you know what I’m saying.

• You won’t have time to run a money business on the side.

• You’ve got to join their MGA

While I know the role won’t apply to all of you, it is a very good opportunity for someone who likes to sell insurance, doesn’t like prospecting, and wants to make some good income while helping some great Canadians out.

Here’s a picture of the role:

If you want apply on the website or email Brad directly. Just tell them I sent you.

Now, onto the regularly scheduled programming.

I’m going to tell you a secret that most of the mainstream financial media doesn’t talk much about. It’s that business owners appreciate insurance.

Yes, I said it. Appreciate.

They don’t like it. No one I’ve ever met LIKES it. But they appreciate it.

There’s this fallacy in the market that successful business owners have a portfolio stuffed with low fee ETFs out there. Sure, there are some that do.

But, I can only speak of my personal experience.

I started in the insurance business in June 2010, mainly working with business owners. And back when I started (when the industry had much more support than they have today), my job back then was to sell the insurance.

I’ll be honest, I didn’t know what I was doing at the start. I was learning. But, I’m a much bigger fan of learning by doing than learning by reading (take note as you read this email).

Because, you can’t make mistakes while reading, and boy can you make mistakes while doing. And, so that’s what I did. I helped sell disability and critical illness insurance to end clients with the Advisor present. Actually, my first ever account was Investor Group (since rebranded IG). And, they did a lot - I like to think mainly driven by yours truly.

Suffice to say, I met plenty of business owners, because your average employee doesn’t traditionally buy individual disability insurance. I’m not saying there aren’t a few that do, but the majority of that market was and is business owners.

And, the reason I know so much isn’t by reading a bunch of books. But, it’s by doing a lot of meetings. At my peak, I think I was doing something like 150-200 business owner meetings per year. Meetings with Advisors would be erased if I had a meeting with a client. That’s where I could make my greatest impact.

And I’ve met all sorts of people. People struggling to get by to those routinely ranked in the billionaire class here in Canada. They aren’t that different, the latter just have much bigger goals.

And in that time, I’ve reviewed more balance sheets and personal estate plans than most people see in a lifetime. That’s because I don’t have to do any of that pesky prospecting, I get right to business with lots of Advisors.

It’s been the nature of my role.

Here’s what I’ve noticed from a lot of these business owners over time.

They own 3 assets:

1. Their Business

2. Real Estate; and

3. Cash/GICs

Sure, they might have some outside market investments. But, it generally is a small % of their total assets. In many cases, the cash they hold is probably something like 10x their market investments.

This is a quandary in our business because entrepreneurs are known for taking risks. Taking more risk in the markets leads to great long-term gains. I don't think anyone can doubt that logic.

However, business owners don’t want to take risk for risk sake. And, they only want to take risks on things they understand AND control.

And that is the crux of the problem. They often don’t understand or TRUST the markets. But, they trust themselves. They bet on themselves. They’ll leverage up to buy business assets that they understand and CONTROL. Because, they know they will win.

But with investments in ETFs, they just don’t know. And it can’t be said enough: the Internal Rate of Return (IRR) on their business investments crushes the market rates.

So, they stick with what they know. And, that’s understandable.

But there is a place for life insurance in this mix. Because in many cases, it acts like cash (it’s liquid and there and not going anywhere) and they have access to it (to take advantage of those opportunities) and it’s a better rate of return than cash and it’s tax-efficient and it’s life insurance (which they need anyways) and it will take care of their MASSIVE future taxes.

It starts to be a MUST-own asset and not a WANT. Things I MUST own are quite different.

I’ve spent my career talking to these various business owners, taking every possible angle and I’ve had incredible success doing it.

Being able to understand how these individual approach this stuff and how you can position it in the greatest light so that they want to buy. You can’t sell them anything, they are targeted far too often. Instead, you need to paint the picture so that they can say yes (if it’s the right fit for them now).

I’ve realized that as much as I love writing these emails, there’s only so much I can do in email format. You need to hear me say these things.

So, I’m hosting, the first of it’s kind massive webinar (where I’m hoping to break the servers if possible), here are the details.

On September 26th at 11AM Eastern Time (8AM Pacific), I’ll be hosting a 100% FREE webinar for all Insurance Igniter subscribers (which is you).

I’ll be discussing some large cases I’ve closed in the last 12 months, how I positioned it, how I used IFA, how I talked to the business owner and how you can do it too (or how I can help you do it).

A lot of the stuff I’ll be sharing I haven’t talked about before.

Also, it WILL NOT BE recorded. So, if you can’t carve out 45 minutes from your schedule that day, unfortunately, you won’t have that info. And, I won’t be sharing it in any other platform, email and text. If you miss it, you miss it.

If you’re serious about growing your insurance business or if you want to start getting into this part of the market, you’ll want to join the call.

If you want to join the call, here is the link (copy and paste it into a calendar invite so you don’t miss it):

Have a great weekend and I’m looking forward to seeing you on the call in a few weeks.

All the best,

Andrew

P.S. If you want to join the event, here is the link. I’ll be sending more emails about it, in case you forget: