Archive for the ‘Agents Marketers’ Category

How to Find the Best Deal on Mortgage Insurance in Ottawa, Canada

Wednesday, July 15th, 2009

Mortgage insurance in Ottawa, Canada grew into a lucrative business over the past few years.  In response, the Canadian government passed legislation that would ensure safety and sanity for the average consumer.

Every time a mortgage on a house closes, the mortgage dealer is required to offer insurance.  The borrower is not required to purchase unless the amount of the loan financed is over 80%.  So, if you don’t put down 20% on your home purchase, you’ll have to get a mortgage insurance policy.

Another interesting detail concerning mortgage insurance is that most lenders will finance up to 95% of the loan if mortgage insurance is purchased.  For this reason, more people are looking for an affordable mortgage insurance policy.

Until recently, the majority of people that financed their homes were offered the option of mortgage insurance by the lending bank.  This type of insurance is called “collective” or “group” mortgage insurance.  The advantage to this type of insurance is that it’s quick, and you don’t have to do much to get it.

Unfortunately, the disadvantages are many.  For one, the insurance is written in the lender’s name.  The insurance company can choose to cancel without notifying the borrower.  Plus, the application isn’t even reviewed unless a claim is made.  At this time, you could find out your application is invalid after paying on it for a long period of time.

There’s been a lot of racket about this type of insurance because homeowners are left in a lurch.  What could be worse than losing a loved one and simultaneously finding out that the mortgage insurance claim was denied due to a minor glitch in the application?

Try investing in personal mortgage insurance.  The quotes are competitive.  It’s as easy as going online and finding several different quotes at the same time – no pressure.

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Sales forecasting is easy when you know how

Wednesday, July 15th, 2009

sales forecasting software

Collating the basic sales forecasting information you must have

Every business should have a sales forecasting process. Sales forecasting should receive just as much attention as cash flow management. Sales are the life blood of any business as cash is the oxygen supply. The cash flow and sales forecast reports are inextricably linked. The adoption of good sales forecasting software and a well enforced sales forecasting policy can make an significant difference to the health and performance of any business.

Key inputs

There are three key inputs or factors to consider when creating a sales forecast. The sales person, the customer and the product. Good sales forecasting software enables you to sort,correlate and present these inputs and give you a clear vision of the activity in your sales pipeline and what is and isn’t going to come in when.

1. Getting sales people to gather accurate sales forecasting information.

Sales people vary in their levels of skills, experience and knowledge of your target market or industry. But with a small amount of training, encouragement and discipline they can be made to submit accurate sales forecasts. Teaching your salespeople what information should be obtained from the sales activity is all about ensuring that they ask the right questions of the right people in the right order at the right time. Therefore the first discipline sales people should have drilled into them is planning. Each and every call or interaction with the customer should have a plan. The plan should contain what information is needed and what questions will be asked in what order. Their call plan should be recorded in the sales forecasting software for later review. I am consistently disturbed by the number of poorly trained sales people who dont prepare questions or take notes.

2. Gathering Customer information

Keeping detailed information about the customer’s organisation, the market they operate in and the progress they are making is really useful when it comes to assessing the basis for the salespersons sales forecast assumptions

A good example of this is the customers credit rating. Customer records should be stored and available in the sales forecasting software. Therefore every sales person should develop a habit of finding out as much as they can that is in the public domain about the customer. Naturally this information is good content for conversation when the sales person interacts with the customer. It will always lead to questions and most customers are impressed by sales people who appear to have a genuine interest or good working knowledge of their customers. Remember the art of the sale is about solving the customer’s problem. The more problems you can spot in your customer’s business, the more creative you will become and the more you might sell if what you have can address these problems.

3. Educating the Customer

This is where the third factor, the product comes into play. The easiest way to sell a product or a service is to make sure your customer is educated as much as is possible about what you do. I am not talking here about thrusting brochures into their hands. Here I would recommend using the timeless art of the story. Good story tellers will always get an audience’s attentions. Stories about how other customers have uses your products and services to solve their problems are invaluable. Testimonial or case study or reference doesn’t have the same appeal as the term story. These terms are tired and worn. You will get so much more information back from a customer if you tell detailed and carefully woven stories as they paint good pictures of the possible outcomes of using your product or service.

All of this information rigourously fed into a good sales forecasting software system should give you the vital data to make higher quality decisions and avoid errors of judgement in cash management.

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Save Money with Mortgage Insurance B.C.

Wednesday, July 1st, 2009

Mortgage insurance in B.C. (British Columbia) is a competitive field these days.  Savvy consumers know that there are more options than the bank mortgage insurance that mortgage brokers offer upon closure.  According to Canadian law, a mortgage broker is required to offer mortgage insurance in B.C. In fact, if the mortgage is for more than 80% of the home value, it’s required. 

Keep in mind that there are two types of mortgage insurance.  You have the collective or group mortgage insurance that most consumers purchase at closing, and then there is personal mortgage insurance. 

There are many advantages and disadvantages to the type of mortgage insurance you purchase.

• Collective insurance can cancel the policy anytime. 
• Personal insurance may not cancel coverage.

• Collective insurance will raise your rates without notification.
• Personal insurance will notify you of any rate increases first.

• Collective insurance policies are held by the lender and all premiums are paid to the lender.
• Personal insurance puts all the power in the consumer’s hands and issues all premiums in their name.

• Collective insurance only pays off the mortgage.
• Personal insurance pays the mortgage off and any money left goes to those left behind.

• Collective insurance is cancelled if you go in arrears.
• Personal insurance stays intact even if you are late on payments.

• Collective insurance is known for having unforeseen reasons to deny a claim.
• Personal insurance discloses everything upfront.

• Collective insurance is not required to train their staff.
• Personal insurance has licensed professionals.

With this in mind, it is no wonder that more people are making the switch to personal mortgage insurance in British Columbia.

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Mortgage Protection Sales: Rewarding and Challenging

Wednesday, July 1st, 2009

You might be an insurance sales person frustrated by the difficulty of obtaining new prospects. The problem of having to cover those hundreds of miles in your car to reach your prospects and not having them being home when you get there is minuscule compared to having to spend your evenings in someone’s living room convincing them of the different reasons why they should buy mortgage protection insurance only to find out that it was a waste of your time.

You surely won’t want to feel the irritation or the expense of going out of your way to obtain mortgage protection insurance leads ahead of your competitors and then finding they were bad leads. Let’s face it – your time is valuable and so is your prospect’s time.

Prospects’ Interpretation
The majority of your leads will likely have been generated by homeowners making a response to direct mail advertising. Direct mail campaigns are sent out to motivate prospects toward fast action and prospect will often interpret these differently than the facts would indicate.

For example, they may see the offer that promises that a medical examination is not necessary to qualify and think that because of that a pre-existing condition is not a consideration. In that case, you would have worked these mortgage protection insurance leads and find out after all your hard work that the prospect will be declined.

Some of them might get declined for insurance because they do certain unacceptable types of work. In the same way, many prospective clients have the idea that they do not need to obtain a greater value policy when they obtain disability or other insurance for major sickness.
Obtaining waivers of premium while unemployed is often creates confusion about supplemental unemployment benefits, something not paqrt of the mortgage protection insurance policy.  Some will even think that they don’t need any additional insurance and that they are well covered already.

Wouldn’t it be nice to get mortgage protection insurance leads that are already prescreened so that you can get rid of any sales disappointment? 

Selling Insurance Products In This Economy

If you are rejected by a prospect, it may be that the mortgage protection insurance that you are selling is not something that your prospect needs at the time. If the prospect understands how important it is to secure coverage, then that is a hot prospect and you can immediately close the deal.

A few individuals will always believe that their other monetary issues loom larger than mortgage protection insurance, because they think it will only be needed at a distant future date. Convincing those people can be very difficult especially in these economic times when people are more concerned with losing their jobs and trying to manage their household budget.

When you can be presented with mortgage protection leads that have already been screened that involve individuals who know exactly what they want and how important it is to have this type of insurance today in this economy, it will take the hassle out of being a salesperson offering a product that is not so popular.

Provide Solutions, Don’t Create Problems
Providing prospects with a plan suitable to their needs will save you time and enhance the value of the product to your new clients. Make sure that you explain all the details and answer the questions that concern your prospective clients truthfully.

Mortgage protection insurance leads will become lifetime clients if you give them the option that best suits them in their current situation. Age, profession, or gender makes no difference. Prospects are anxious in these preilous financial times and you can offer answers for many of their most disturbing concerns.

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How Does Long Term Health Care Insurance Work?

Wednesday, June 10th, 2009

Long Term Care Health Insurance refers to the need that many sick or injured Americans are experiencing due to old age, debilitating illness, or due to an accident that has left them unable to care for themselves for a long period of time.In nursing homes this type of insurance is going to take care of some of the cost incurred. An assisted living facility or even care given to you in your own home.

As the American population ages, those over the age of 85 are now found to be the fastest growing group and they almost all need long term cheap health insurance plan. Unfortunately the odds of having to enter a nursing home grow alarmingly high. Very Unfortunate also that the fact of the cost of long-term is already very expensive.

Of course regrettably, Medicare pays some of the costs associated with long term care but they do not pay for long term care, only short term care, however the rules are stringent. Generally families end up paying for long term care, until their money dwindles and the patient then can qualify for Medicaid. No one knows what the future will hold for long-term care, But this is why Long Term Care Health Insurance may be one of the most important insurance policies you will hold.

Coverage for long term life insurance policies vary tremendously, but some even have waiver of premium should you need the care. The initial cost of the premiums also can differ tremendously the amount of time of receiving the long-term care that allowed to be spent.

Alzheimer’s and other cognitive disabilities are covered in long-term care health insurance; as such disabilities often require 24-hour watches. Regarding a preexisting clause, usually the preexisting clause in no longer enforceable if after six months have passed you are not needing long-term care.

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Introducing Car Insurance Quotations

Wednesday, June 10th, 2009

Have you ever wondered how insurance companies come up with your Car Insurance Quotations? Though it may looked random, but the truth is a few factors are taken into consideration. Here are several factors that go into account when it comes to car insurance quotes. You’ll find some factors you can change while others are out of your hands.

Your Age

Older people will have lower car insurance ratings than teenangers who just earned their licenses. Statistically, young and inexperienced drivers have higher accidents rates.

How your Vehicle is Used

One thing that becomes an important factor is your annual mileage, whether your car is used for daily commute or business purposes. If you seldom use your car, then you will pay less for your car insurance. Obviously, if you seldom use your car in a week, for example, you will be less likely to have an accident than those who are more often use their cars.

The Car You Drive

When it comes to car and insurance, its safety statistics are important, and the average cost of repairs for your make and model figure in as well. An expensive import car will cost more to insure than a crossever or minivan.

Driving Record

If you have a better driving records you will surely pay less for car insurance than people with many tickets on their records. In other words, those with more moving violations will pay more for their car insurance quotations.

Where You Live

Insurance companies want to know where you live: what kind of neighborhood it is, how densely populated it is, and how busy the streets are. If you live in a city your Car Insurance Quotations will probably be higher than if you live in a rural area.

History of Your Credit

It is not seldom that your history of credit is factored into your car insurance. Some people have claimed that those with better credit history have fewer car insurance quotations. It is also important to note that Car Insurance Quotations can vary widely between providers, so you are wise to get four or five quotes before choosing one of them.

 

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Mortgage Protection Lead Success

Friday, May 29th, 2009

Mortgage protection leads are important to any insurance agent who wants to do well in the business and who wants to offer good service to their clients.

However, not all leads are good and sometimes the agent has to work much harder to secure a closing than anticipated. This occurs due to people changing their decisions because of changing circumstances.

Most agents know that the insurance business is a hard sell and that prospects have the concept that they can get this vital piece of resource at a later date.

It is when they are caught in awkward situations such as losing a job, becoming permanently disabled or dying do they or other family members realize how important it is to get protection.

An agent who does not use mortgae protection leadslikely has to do a good deal of cold-calling. After appointments are set agents use their personal autos, often travelling long miles to the prospect’s home only to find thatthey’ve forgotten the appointment and isn’t there.

If the client is home then the agent can educate and instruct him, yet that does not guarantee closing as a prospect must be ready to accept and decide to be protected.

Other Issues Arise
Current circumstances of the prospect are another factor. A good agent uses that circumstance yo help a prospect realize the legitimate need for insurance. In the current economy, people have a tendency to draw back and be more conservative with their decisions.

An agent’s task is to use the situation so a prospect can visualize the importance or insurance, and the likely outcome if they did not.

Having leads affords an agent some flexibility, and results in handling a prospect with increaqsed confidence. The individual or family would probably have enough information to know the importance involved with insurance.

Educate Your Prospects
An agent can make the decision to provide information to the prospect without any sales aggression or coercion. When a prospect is reluctant intially, it does not mean you must give up on closing a sale. Your prospect may require a little time to consider things. A spouse is usually involved so make certain they will be present when an appointment is set. Both parties must agree prior to completing a sale.

The mortgage protection leads allow the agent to deal with prospects that are more willing to work with and are also willing to trust the expertise of the agent.  If the agent seems to have the best interest of the prospect at heart, the prospect will give the agent the opportunity to prove that.

People prefer an insurance agent who is a straightforward individual. An agent who provides both the adavantages and disadvantages of owning insurance reassures his prospect who then increases his confidencein in deciding correctly.

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