Prospecting for life insurance sales is my favorite. It's so easy. I find it hard to understand why others find it so difficult. 

Everyone who can fog a mirror is a possible prospect. It just requires a little imagination to ask for an appointment. All that's necessary is a quick mental assessment of each individual you wish to approach. If you're getting an MRI, isn't it probable that anyone in that department is exposed to radiation and a higher risk of cancer than most people? Then they are all prospects with good salaries. If you meet a federal employee, there FEGLI is more expensive than 30 year level term after age 55. That's also a great referral source. They are also pension Max prospects. Anyone who will start Social Security in the next 10 years is a target to replace a spouse” lost check at death.  

Anyone who has a new kid is a prospect to cover education and loss of income. Here's a great question to ask when you meet. "How long would you like your spouse to wait before he/ she is required replace the love of his/her life in the parent to your children?” I thought of that question years ago and it never fails to disturb the prospect.  

Another great question: "What's the best possible thing that could happen the week after a wife or husband passes away? Answer: “You have a check for $500,000.” 

Most agents lost the ability to prospect by disturbing. That's probably because they've either never done it or stopped doing it. Do you think you are offending people by opening the conversation that way? I'll tell you what's more offensive, the death of a father or mother who leaves the family destitute. Judge Zigler wrote a book called, Timid salesmen have skinny kids. He wrote that book 40 years ago, but it is still appropriate today. Prospecting isn't for the timid. Life insurance sales is a noble transaction and worthy of aggressive effort. You may have to thicken your emotional skin, but if you do, you'll be handsomely rewarded and your clients will love you for it. 

Just a thought on business sales. If you’re attempting to get started in life sales today and want large sales, I would go after business owners with term insurance. As an experiment I cold called small retail business owners. They are accessible with the right approach. Asking for the owner or when they will be in, after walking through their front door and securing their attention, start a conversation like this, "Mr. business owner, do you have an exit plan for your business? In other words, do you plan to sell anytime in the future?” When he says, not now, follow with "if you were to sell your business, what would you want for it?” Let's say $2 million was his answer. "Is that with or without your running it?” "What would it be worth if you were to die? I can give your family $2 million at your death for an affordable fee. May I have permission to work up some numbers for you?” 

If you put 20 business cards in your pocket and get rid of them every day by walking in the small businesses, you'll have a follow-up call log and 20 appointments by the end of the month. Just tell them you work with business owners by protecting their most important asset, their business. A 45-year-old male, $2 million worth of coverage will cost about $1600 per year. That's $1600 per day in commission for each sale. Not bad for a good start. Of course conversions can take place later as well. 

Any approach in prospecting is a good approach. Some are better than others. Activity clarifies best approaches. 

Kim Magdalein is a Jacksonville, Fla.-based advisor with 30 years of experience who has written extensively about prospecting for a variety of industry publications and websites. He co-founded Seminars For Less nearly 20 years ago, a family business that has served thousands of financial advisors, insurance agents and attorneys as a leader in the seminar marketing space. You can contact him at 800-909-9894 or visit www.seminarsforless.com.