How Do New York Life Insurance Agents Find Leads?
New York Life Insurance Company (NYLIC) founded in 1841 is now the third largest life insurance company in the US.
When it comes to the question of how New York Life Agents find leads, the answer is simply: By using their existing network of family and friends. Some people also mention getting access to “orphaned accounts” or accounts that no longer have an agent. But in general being a New York Life Insurance Agent is a 100% commission job with a monthly stipend only if you reach your monthly quota.
Many people complain about the mental and financial stress of having to get started with little to no assistance. Few mention the benefits of comprehensive training, and one person shared how they actually find their leads. It is done not by randomly calling people and trying to push a life insurance product on them, but by trying to understand needs and problems and provide a solution.
This agents method is as such:
Sends out a letter to people they know telling them that they started a new career and welcoming them to call if they need anything.
After about 2 weeks, gives them a call asking if they got the letter and offering to do a free 30 minute financial consultation.
Some people are hesitant but most agree to meet and some find that thy have financial problems they didn’t recognize.
A few key takeaways from this method are:
This person is a professional starting a new career, they have the credibility of a licensed agent and the expertise to actually provide financial advice. They are also truly excited about this new career and it makes honest sense for them to want to share it with friends and family.
The process takes time, it could be a month or more from inception until a policy is actually sold.
This is a template, other more modern versions of the first step could be posting on social media, email, etc.
To conclude, at New York Life insurance agents find leads by themselves but have the backing of a great brand and products and the expertise to identify and solve financial planning problems.