Symmetry Financial Group: How to Sell Mortgage Protection Insurance and Make Money Doing It! docx

Symmetry Financial Group: How to Sell Mortgage Protection Insurance and Make
Money Doing It!
Published By: Symmetry Financial Group
Copyright Notice
Copyright © 2013 Symmetry Financial Group. Smashwords Edition.
Symmetry Financial Group.
Swannanoa, NC 28778
http:// www.sfglife.com
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Table of Contents
Preface
Chapter1: So You Want to Sell Mortgage Protection Insurance
Chapter 2: Getting Started in the Mortgage Protection Industry
Chapter 3: What You Need to Achieve Success
Chapter 4: Where to Find the Most Promising Leads
Chapter 5: The Secrets to Closing More Sales
Chapter 6: Help! I’m Stuck in a Sales Slump!
About the Author
Appendix
* * * * *
Preface:
Symmetry Financial Group specializes in selling mortgage protection insurance policies. Our agents
earn fruitful incomes in rewarding careers helping families to realize the benefits of mortgage

protection insurance. This ebook was created to provide insurance agents with a culmination of
insight and knowledge into achieving financial success in the mortgage protection business – gleaned
from over 50 years of real world, firsthand experience in the industry.
* * * * *
Chapter 1: So You Want to Sell Mortgage Protection Insurance
In its simplest form, mortgage protection insurance is an insurance policy that will pay the remaining
balance owed on your home in the event of a death. This benefit covers the outstanding principle
balance owed on the primary mortgage, making payment directly to the lien holder upon the
beneficiary’s death.
For those families in a two income household or where there is one primary bread winner, mortgage
protection insurance provides the piece-of-mind that in the event of a death, the family will not be held
to paying a mortgage they may no longer be able to afford. This benefit is particularly beneficial to
families whose home mortgages may be under water due to the current state of the housing market.
Unfortunately, while mortgage protection insurance offers an economical benefit for hundreds-of-
thousands of families across the U.S., it can prove challenging to sell. This type of insurance is often
misunderstood by consumers who mistakenly confuse it with the mortgage insurance premium they
pay on their FHA loan. Selling mortgage protection insurance requires an agent to be knowledgeable
about the misconceptions associated with this product and act not just as a salesman, but as an
educator and counselor.
Those who try to hard-sell mortgage protection insurance to unsuspecting leads will find little
success. But with the proper support system, motivation and education, agents can earn top
commissions and generate residual income for years to come.
* * * * *
Chapter 2: Getting Started in the Mortgage Protection Industry
Before you can begin making money selling mortgage protection insurance you will need to obtain a
license, purchase liability insurance and register yourself as an agent.
Anyone who wishes to sell mortgage protection insurance must obtain a license to sell insurance in
their state of residence. To get your license will need to pass an exam showing that you understand
the laws and regulations surrounding the sale and solicitation of insurance products.
You will also need to obtain errors and omissions coverage, commonly referred to as E&O. E&O is

professional liability insurance that protects you, the agent, in the event that a client suffers a financial
loss as a result of your mistake, such as a failure to disclose pertinent policy information. Check with
your state’s insurance department for a list of approved E&O providers.
Finally, you will need to register yourself as an agent with the provider or agency you wish to sell
insurance for and familiarize yourself with your product portfolio.
* * * * *
Chapter 3: What You Need to Achieve Success
The mortgage protection business is a competitive marketplace. But with the right attitude, motivation
and support system, agents can earn a lucrative income. The two factors that will have the biggest
impact on your success or failure in the mortgage protection business are:
1) The support system provided by your agency, and
2) Your attitude.
Building a Foundation for Success
A good insurance marketing agency will provide its agents with the complete tools, training and
support they need to achieve financial success. At a minimum, your agency should provide you with:
• Direct sales support
• Friendly, accessible managers
• A competitive portfolio of highly sought-after carriers
• Exclusive, internal leads
• Underwriting and new business support
At Symmetry Financial Group, we prepare our agents for success by providing each of the above, in
addition to:
• Full IT capabilities and agency support
• Website design and support
• Contracting and licensing assistance
• Weekly focused discussions from agency experts
• Continued education through webinars, teleconferences and live networking events
If offered by your agency, take advantage of the opportunity to attend trade shows, conferences and
meetings. Whenever possible, network with other insurance professionals in your field. These are
great places to make connections, learn from respected industry leaders and stay up to date on

industry trends.
Getting in the Right Frame of Mind
Even agents who have been given the best tools for success can find themselves failing in the field if
they are not in the right frame of mind. Selling mortgage protection insurance is NOT a one-size-fits-
all business. Those individuals who typically do well in the insurance industry are:
• Self-motivated
• Personable
• Comfortable speaking on the phone
• Comfortable speaking with groups of people (sitting face-to-face with families)
• Able to learn quickly
* * * * *
Chapter 4: Where to Find the Most Promising Leads
Digital Lists
In today’s digital world, there are no shortages of companies willing to sell you electronic lists of
harvested leads. However, you are best advised to stay away from these types of services,
regardless of the promises made. If you get lucky, the company selling you the leads may have
actually verified the mailing address, phone number or e-mail address provided for each contact
person. But for most digital leads, no such verification has taken place, leaving the buyer to assume
all the risk.
In addition to unverified contact information, many (if not all) of the leads on digital marketing lists are
unaware that they have even been added to such lists and are likely not in the market for mortgage
protection insurance. A more likely scenario is that the lead was searching for similar insurance, such
as flood insurance, entered their e-mail address into a website to receive a quote, and unknowingly
agreed to have their contact information distributed to third party affiliate marketers.
Cold Calling
While aggressively telemarketing cold calling leads is a marketing technique that many insurance
agencies encourage, this type of technique is intrusive, inefficient and time-consuming. Yes,
insurance agents who have the right personality-type for the job can close sales with cold calling, but
this type of prospecting is often emotionally draining and requires much more effort to achieve
success.

Ideally, agents should be working with a company that has done the prospecting for them and
provides the agent with verified, warm leads, allowing them to focus on selling – the real money
maker.
Direct Mail
At Symmetry Financial Group, we have found that the most effective method for cultivating leads that
will convert is through direct mail marketing. Direct mail marketing produces the highest quality leads
in comparison to other lead generation techniques. By completing and mailing back a direct mail
marketing piece, prospects are actively confirming their interest in obtaining mortgage protection
insurance. The leads arrive already warm, with a confirmed interest in the product and are
expecting to be contacted!
* * * * *
Chapter 5: The Secrets to Closing More Sales
As a mortgage protection insurance agent, you are in a sales career that offers multiple ways to grow
your business relatively inexpensively. While not every lead may convert to a sale, there are several
steps you can take to increase your chances of success.
Listen More, Talk Less
As tempting as it is to sit down and begin explaining all the benefits of your insurance policies and
plans, the best thing you can do is let the prospect lead the discussion. Instead of pitching your
product, sit down and ask the person you are speaking with about their lifestyle. Ask questions about
their family and concerns for the future, and let them tell you what it is they are looking for. Your role
is to be an insurance consultant, not an insurance salesman.
Don’t Sell Products, Provide Solutions
Instead of jumping into a sales pitch about the great discounts your agency offers on insurance plans,
explain to the prospect how what you are offering can help solve a problem they currently have, or
potential problem down the road. People are much more likely to purchase products that resolve
problems and provide them with peace of mind. You will only be able to do this successfully if you
understand the families’ needs and have followed rule number one: Listen More, Talk Less.
Highlight Benefits over Features
Rather than focusing on the technical aspects of an insurance policy (although you do want to be
sure the lead clearly understands this prior to purchase), first highlight how having insurance will help

them in terms they can relate to. For example, explain how the policy will help prevent them from
having to sell the home or possibly file for bankruptcy. Be sure to keep the lead and their needs at the
center of the conversation.
Leave Something to Remember You By
Most simple insurance sales – especially lead driven sales – can be a one sit close, but occasionally
families will need to weigh their options and put more thought into their final decision. This is certainly
the case with annuity sales or more complex life insurance sales. Be sure you are prepared with
specific company or product literature that you can leave behind. At the very minimum, be prepared
to leave a business card, because those who do buy may have questions after you leave and will
need a way to get in touch with you, especially if or when they need to use the policy.
Set Goals and Deadlines
Make sure that your goals are specific. What number of appointments are you going to set this week?
10? 15? 20? How many of those appointments will result in a sale? Be sure your goals are realistic.
Rather than aiming for a 100% close rate, aim to increase your insurance sales by 10%. Incremental
goals are much more achievable and create an atmosphere of success. Don’t leave your goals open-
ended. It’s not enough to say “I will increase sales by 10%.” Instead, give yourself a set deadline. “I
will increase sales by 10% every month.”
Ask for Referrals
Have a happy prospect that you’ve helped in the past? Don’t be afraid to ask for referrals. Word-of-
mouth is still a viable, and free, lead generating tool.
Learn Something New Each Day
Devote some time each day to improving your sales and marketing knowledge. Read a book, attend
a webinar or listen to an audio book, and try to learn something new about your field.
Associate with Successful Professionals
Surround yourself with successful, positive people. If you are surrounded by people who are meeting
their goals, it will help motivate you to achieve your own objectives. Talk to other professionals in the
insurance business about what does and does not work, and ask about their experiences when they
were in your shoes.
Love Your Job
In order to be truly successful, you have to love your job and believe in the product you are selling.

People who enjoy what they are doing experience less stress and a higher success rate.
* * * * *
Chapter 6. Help! I’m Stuck in a Sales Slump!
If you are in the mortgage protection insurance business, you will likely have those days, weeks, or
even months, where you feel like no matter what you do, you just can’t make the sale. You are not
alone. Even the most successful insurance agents and agency representatives have lost their selling
rhythm at one point or another in their professional careers. The key is to recognize that your sales
slump is a temporary situation and work to minimize it.
Take a Mental Break
When sales are low, the pressure to succeed mounts. If success is not achieved, it can be
discouraging and lead to lowered expectations and a lack of motivation. Don’t let a temporary rough
patch erode your confidence in your ability to achieve success. Instead, take a short break and focus
on something you enjoy. Rather than worry about whether you will close the next sale, give yourself
some time off and enjoy an outing with your family or friends. Surrounding yourself with people you
love and enjoy spending time with will be an instant mood booster.
Before heading back to work, be sure give your brain a mental reset. The past is the past. Go to your
next sales appointment with a fresh perspective. Don’t set yourself up for failure by expecting poor
sales. Instead, treat each lead as a new opportunity and go to each appointment with a fresh,
optimistic outlook.
Evaluate Your Lead Source
When leads aren’t expecting you or have no idea what you are talking about, it can be next to
impossible to close a sale, let alone get your foot in the door. Your agency should be providing you
with legitimate, verified insurance leads who know you are coming. Handling warm leads is much
easier than cold calling or randomly going door-to-door.
At Symmetry Financial Group, we cultivate our own in-house leads through a proven direct-mail
system. That means our agents are put in front of families who have requested their help and are
ready to buy.
Talk to Your Mentors
A good insurance marketing organization will provide its agents with a strong support system. In
addition to webinars, training videos and conferences, agents working with Symmetry Financial

Group are able to learn from mentors who have walked in their shoes. Reach out to a mentor and talk
to them about the challenges you are facing. Chances are they have faced the same challenges and
have successfully overcome them. Listen to your mentor and don’t be afraid to ask for advice.
Assess Your Body Language
Whether consciously or subconsciously, your body language tells a lot about you. Your body
language provides subtle signals to a lead that is used in forming their opinion of you and your
expertise. When you are feeling discouraged or are not confident, a poor posture and weak
handshake can be the result, and those will quickly give you away. When meeting with a lead, be
sure to take stock of your body language. Don’t clench your fists. Sit up straight, yet comfortable.
Extend a handshake. Try not to cross your arms and legs (this conveys you have something to hide).
Look at the person when they are speaking to you (don’t shift your eyes around the room). Don’t
fidget by tapping your feet, twirling your pen, doodling, picking at your nails, or otherwise.
Don’t Sell Anything
One of the worst things you can do when selling insurance is try too hard. When you have a lead that
is already interested in your services and has requested that you contact them, the sale comes
naturally. Instead of trying to sell a product, approach leads as a consultant. They are looking for an
expert to help them decide which type of insurance best suits their needs, finances and lifestyle. Don’t
talk over your lead. Let them drive the conversation. Listen to their needs; let them tell you what they
want, and be the expert consultant that they need.
A career in mortgage protection insurance sales is not for everyone, but if you have the motivation
and drive to succeed, it can be highly rewarding, both professionally and personally.
* * * * *
About the Author:
Symmetry Financial Group works with insurance agents and agency builders across the country to
help them achieve their personal and financial goals while bringing balance back to their lives. Agents
working with SFG earn a great living helping American families protect themselves from financial
hardships.
Did you download this eBook because you are considering a career in insurance sales? Contact
Symmetry Financial Group today to see how to get started in the career you’ve been waiting for!
* * * * *

Appendix
Federal Housing Authority (FHA) “FHA Requirements: Mortgage Insurance” (2012)
Guide to Lenders “Private Mortgage Insurance Available Again”, Gina Pogol (2013)
Insurance Journal “The Ins and Outs of Errors and Omissions Insurance”, Glenda Wertz (2004)
SFGLife “The SFG Business Model” (2013)
U.S. Securities and Exchange Commission (SEC) “Cold Calling” (2012)
SFGLife Blog “10 Tips for Closing Sales Every Insurance Agent Should Know” (Jan. 2013)
Symmetry Financial Group Blog “Get Your Career Back on Track with These 5 Tips for Increasing
Insurance Sales” (Jan. 2013)
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