Networking with Other Professionals
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All too often agents overlook the possibilities associated with networking with other professionals as a source for additional leads. These professionals include Lawyers, CPA's, Doctors, Tax Professionals, & even other Insurance Agents. Most of these professionals are just like you in regards to the fact that they need new customers just like you. Also the prospects that you receive from them trust their referral recommendations or otherwise they would not have done business with them to start with.
To begin with a Lawyer will be your best ally. They can supply you with people who have just gone through a divorce, started a trust, started a new business, and closed on a house. Many times when people go through a divorce one of the spouses will be dropped from the others coverage or will be court ordered to take out a Life policy to pay for expenses to cover a child associated with one's death (i.e. loss of child support). People who draw up family trust are most often looking for a way to transfer large sums of money tax-free, and usually have large sums of extra income. When starting a new business many people will begin as partnerships, and therefore have a need to fund Buy/Sell Agreements. Of course when a Lawyer helps to close on a house they have that prospect a lead for mortgage protection before that person's information goes to a courthouse and can be picked up by a lead company. Basically almost everyone who sees a Lawyer will have a need to talk to an Insurance agent.
A CPA & a Tax Professional will generally deal with higher income clients. These are people who would be at a traumatic loss if their income was to suddenly disappear because of a Disability or if they were to suffer from a Critical Illness. In addition their spouses would usually not be able to deal with a higher financial burden that often comes with higher income. These prospects definitely have a need for Life Insurance, Disability Coverage, & Critical Illness Coverage. They will also prove to be a great resource for referring clients who need Annuities and Single Premium Whole Life's.
Doctors will see people that are on COBRAA Health Insurance, & may need a cheaper or better plan. They will also see people with health issues and a greater need for coverage, or maybe people who have just had a traumatic event (i.e. Heart Attack, Stroke, diagnosed with Diabetes) and now see a greater need for coverage all of the sudden.
There are a lot of Insurance Agents that only do one or two types of Insurance. For example a P&C agent who doesn't do Life & Health, a Life agent that doesn't do Health, and visa versa. A trade of client databases with these professionals can prove to be a gold mine, or better yet spend a day a week calling from the others office.
Please remember the key to building these referrals is going to be all about building relationships. It is going to be best to start with other Professionals that you already have a relationship with, and always hold up your end and send them referrals whenever possible!
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