How to Make $1,000 a Day Selling Life Insurance (with Zach McElwain)

hey guys it's zach mcelwain with the life insurance academy and in today's video i'm going to walk you guys through on how to make a thousand dollars minimum each day selling life insurance now the first thing i want to let you guys know that it is possible okay it doesn't matter if you're a brand new agent or an experienced agent it doesn't matter if you have no training at all or very minimal training or you've been trained and you've done this for a while and it also doesn't matter if you're on a really high comp or a really low comp the principles i'm going to walk you through today will really break down on how you can make a thousand dollars a day minimum selling final expense life insurance now the first thing i want to talk about is why agents currently don't do this or if you've been out there if you're in the field and you may be thinking well i'm not selling a thousand dollars a day or i'm not making a thousand dollars a day well how can i do this well a couple of those main reasons of why agents aren't is number one is they're quitting on themselves and they're quitting on themselves because maybe they feel like they have a goal that is unattainable or maybe because they got sick for a few weeks or they had a family emergency that happened in their family and now they had a goal set up for the quarter or for the year and they feel that it's unattainable so they lose complete focus and they're not able to get back on task to achieve that and they're just kind of going through the motions the other way people do this is they may not have any goals at all so if they don't have that daily goal that weekly goal that monthly goal set already then they're gonna struggle when it goes through that um the second reason why agents can't make a thousand dollars a day is because maybe they don't work full-time um or they don't work a full week either one is the same thing and what i mean by that is you may be struggling at the beginning of the week or have a bad monday or a bad tuesday or or nobody's answering the phone or nobody's answering the door and then you start to get down on yourself and you let your emotions kind of take over now you may be struggling that week and you're like oh i'm just going to throw it all away and next week will be a good week next week i'll be more prepared this week i've dealt with a lot and you give yourself a lot of excuses there you could also quit and not work a full week if you're having a good week and what i mean by that is some agents out there really crush it on monday or crush it on tuesday and they've already hit really good daily goals or weekly goals and then they feel good about themselves but now they roll out and only work two days that week or they quit on wednesday or they don't even work a thursday at all because they've felt like they've achieved one thing we know in life insurance especially in the final expense side is it's a numbers game so it's all going to average out and it's going to be important to us to continue to move through that the other reason why you might not work a full week is because you may feel like you're the one with the flexible job or the flexible opportunity because you run your own business that you are in charge of you ink right now that could be from family members it could be from brothers it could be from sisters it could be parents it could be a spouse a girlfriend and all of a sudden any errand that needs to be run around town or anything that needs to be taken care of around the house all of a sudden you're the most available person to do that when in fact you need to set those boundaries you need to set an expectation in a work schedule so i'm going to walk you through three simple steps that's going to show you how you can make at least a thousand dollars a day selling final expense life insurance and the first one is very simple it's do the work now you may be thinking well of course obviously if we're going to do the work that's right but the first thing to do in the work is we have to show up we have to be there we have to clock in per se and we're not talking about clocking in my mindset and what worked for me is all about self-discipline so i created a schedule every single week and that schedule is when i went to work so personally it could be monday through thursday if that's your work schedule but what time do you start on monday is it 9 a.m to 9 00 p.m this is my work hours this is this is when i go to work this is when i'm focused in on taking care of families then that's what it needs to be each and every single week right monday through thursday maybe it is monday to wednesday for you because maybe you that's what works based upon your schedule but whatever schedule you create you need to decide and you need to understand that this is going to be my full work devotion my full focus is going into this work schedule we cannot base our activity on our emotions we can't base our activity on having a good week well i'm going to take these next couple days off where i had a bad week man this week was terrible i'm going to take the rest of these days off and i'm going to start again next week we cannot base our schedule on our emotions we have to base our activity on the schedule and that's really what's going to be the first thing of clearing your mindset and getting you in a rhythm getting you some good of that big mo on your team big momentum and get you rolling and making this the second thing i want to talk about is setting small goals okay setting small goals now you notice i didn't say huge goals because we probably already have those generally in our business we are going to be goal oriented we're going to have goals that we're already trying to achieve whether it's for the year if it's a production number if it's an income number if it's a carrier trip we're trying to go on if it's a sales leader awards we're trying to win within our company if it's the number one producer the number one team we all have these goals but if we don't break those down and translate what that goal actually means on a daily basis then before you know it we could be completely off path and off target and then again that leads to why agents don't achieve this is because they feel their goal is unattainable okay so what is our daily goal we have to create that personally my goal every single day was i was guaranteed that i was going to get an application fully taken care of before i ate lunch so with me having a schedule which was number one do the work my schedule i started at 9 a.m and i finished my day at 9 00 pm that didn't change no matter if it rained no matter if it snowed no matter if i worked out of the gym and i'm really sore no matter what happened that was the time i clocked in just like it would be if i had a corporate job somewhere and i had an expectation where i had to be there at a certain amount of time we have to hold ourselves accountable in that same very way so when i'm talking about setting small goals i had to have an app occasion every day before lunchtime so that made sure that i was out in the field if i'm door knocking i'm out there door knocking early because i want to get at least one or two sits in because if i'm closing half of them i'm eating lunch by noon but i also didn't give in on that because when if i didn't get that application then maybe i'm not eating until two or three the more hungry you get financially the more hungry you get you know as you're hungry as well so you really want to achieve that goal but what happens is you get in that mindset of starting that schedule every single day and you have that driven goal it's that morning goal man i gotta hit a nap before noon it tricks your mind into focusing and dialing in on what you need to accomplish even within one day so that was a goal i hit every single day beyond that my goal was to have a minimum of a thousand an annualized premium every single day of good business and i'll explain what that is in final expense life insurance there is a monthly premium that the client would pay for a policy for example 50 a month if we extrapolate that across 12 months of the year that the client is going to pay for that that's gonna give us an annualized premium of six hundred dollars okay as insurance agents we get paid our commission is based upon that annualized premium amount of six hundred dollars based upon the monthly premium so when we look at a thousand dollars of ap good business every single day and what i call good business is full day one coverage any waiting period coverage any modified benefits anything that isn't going to pay full commissions or has any type of waiting plan or doesn't have advances i'm not going to count that towards my daily goal of course i want to help those families of course i want to take care of those and of course it does build up an ad in my mind that is a hundred percent a bonus for me i want a thousand dollars of ap and good business every single day so that leads us to our third point okay so we need to set small goals that are achieved every single day which is going to be getting an application before lunch and then also making sure that i'm hitting my thousand dollar minimum every single day now i do want to clarify on that i'm not hitting a thousand and going home it's a minimum every single day so if i write two or three or five or ten thousand just in that one day that doesn't carry over to day three to day four to day five that doesn't let me hit my weekly goal okay it doesn't i know i've accomplished my goal for that day but guess what tomorrow's goal i'm back at zero and i have to do the same exact thing it keeps your mind sharp it keeps it hungry and it keeps it humble which is very important so when we lead to our third point that's going to help us get a thousand dollars each day which is going to be pretty simple which is don't give up now these seem to be very simple when you talk about don't give up my daily goal and you may be thinking well that daily goal is very low right that daily goal is very easily attained well that could be but what if you're struggling a little bit what if you're a brand new agent what if you're just new to this industry and you're trying to figure things out some reasons and we know why people don't achieve these goals is because they feel that goal is unattainable okay so if we know we're going to be self-disciplined we know we're going to go to work we know we're going to have small goals we need to make sure we hold ourselves accountable and not give up to make sure that we are actually accomplishing that goal and the cool thing is and we look at final expense the average final expense life insurance policy is 59 a month which equivalates to 708 dollars in annualized premium just the average policy so if you notice that is literally you can write one to two or depending on the family members you can write multiple policies in one house off one lead you also don't even need a lead to take care of a family when it comes to final expenses there's always neighbors there's always friends there's always family we call that warm market that you're able to help so we need to make sure we're going to achieve this goal no matter how we have to do it no matter what we have to do and we have to have that refuse to lose attitude with that so when we know that we have to hit a thousand dollars in annualized premium of good business each day and this which makes this so attainable and keeps you really hungry is that's only one 84 dollar a month policy one 84 a month policy or two 42 dollar a month policies so you could sit with one family or you could sit with one single client that's on a lead card and you write them one policy for 84 bucks a month or you can sit with a couple and they both get a very small minimal policy of 42 dollars a month either way the cool thing about that is you're going to achieve your daily goal but you're also going to make sure that that both of those scenarios can be accomplished on one lead on one phone call on one door knock and what that does for you mentally is it lets you know no matter what you went through during the day no matter how many doors got slammed in your face no matter how many phones hung up on you or said don't call me i didn't fill this out you got the wrong number no matter what you've went through that day you can't quit on yourself you keep going because your daily goal is fully attainable with one knock with one phone call with one opportunity all you have to do is show up and be there so you can't quit so you cannot allow yourself to not achieve this goal no matter what it's going to take to hit that during the day so the most important thing here is to know that every single day it's achievable and this is a minimum again it doesn't carry over until your next day this is achievable every single day and when you do that if you work three days a week you're at least gonna have a three thousand dollar week at least if you work four or five days a week you're gonna have a five to six thousand dollar week every single week because you're disciplined to your schedule your discipline to yourself and your business and that's going to generate consistency that's going to generate experience for you and you're going to be able to hit new levels in your final expense business if this video was helpful for you don't worry we have plenty more coming just hit that like button down here below and subscribe we are going to be walking through a whole training series going to be released to you guys very soon that's going to give you all the tips that you need in every single type of life insurance so stay tuned and we'll see you soon [Music]

Channel: LIFE INSURANCE ACADEMY

Views: 8,205

Keywords: final, expense, sales, final expense, final expense sales, life, insurance, life insurance, life insurance sales, mortgage, protection, mortgage protection sales, sales training, life insurance academy, life insurance sales training, life insurance training, life insurance agent, insurance agent

Id: unul8tswBDk

Length: 13min 20sec (800 seconds)

Published: Fri Mar 18 2022