Altig Orlovic Agencies with American Income Life
Interviewer: Michael Jordan, what is your greatest disappointment in sports? Jordan: I haven’t had any disappointments. Sports is a tool that teaches. It teaches bad things and it can also teach you good things – it is how you perceive them. I’ve looked at every experience I’ve had – negative and positive – and taken it as a positive. I wouldn’t change a thing because it would have altered some of the other things that happened. So when I look back, I can’t say I’ve had any bad things happen. Sure you don’t want bad things to happen, but you deal with that. You can’t have good without bad.
If you were hired and coded in the past couple months, this is the best time in the history of American Income Life to start your career. That is not just me being positive. I’m not just applying Michael Jordan philosophy (thanks Dustin for putting our day in perspective every morning). I’m talking very literally. Mathematically if you will. Let me make my case.
First of all, this is the easiest time you could ever be hired to make it to Convention. This year, it’s in San Francisco. If you’ve never been, it’s a very West Coast cosmopolitan experience. The foods, the sights, the sounds, the smells, all very unique, you won’t find the combination anywhere else in the world. And this is the absolute best time to start because AIL gives you a head start on qualifying. If you were coded since June 1, 2013 you only have to write $42,000 in ALP. That’s half the regular standard. Suddenly this turns from a haul to a sprint. $42,000 in 7 months. That’s $6,000 a month or less than $1,500 a week. Even if you started in July, you need $2,000 net ALP a week. For a the time of your life this spring? Timing is everything.
Then…Scott Smith, the president of American Income announces another Bonus. If you started in June, they’re paying an extra $500 if you write $4,000 Net ALP for the month of August. If you started in May, you can get $750. In April? $1,000 extra. See the Agent Resource Center on-line for details.
We’re talking Return On Investment. What’s the ROI on that? Let’s see, you hand them $4,000 in ALP in August, they give you a $1,000 check. That’s an extra 25%. Let’s take the minimum $500 new Agent Bonus and do the quick math on it. If you write $1,200 per week in August, and there’s 4 weeks. That’s $4,800 in ALP. Advance on that is (50% X 65% advance or $1,560). 15% bonus is $720; that’s just straight multiplication. 4 weeks with $175 Guaranteed Advance is $700. AND now the $500 New Agent Bonus. So $1,560 + $720 +$700 + $500 = $3,480. You hand them $4,800 in business, they had you $3,450 in cash. What’s your return? 72.5%. That’s not 100% (dollar for dollar) but getting pretty close. This is the best time in history to start your career. $1,200 is one big deal or two smaller ones in a week. I hate setting the bar that low, but that’s where AIL has set the minimum. Minimum wage has been in the news a lot this week. AIL has established their minimum wage. Do the math with me. $3,450 in four weeks is $862.50 a week. Or about $42,000 a year. Before renewals. That’s over $20+/hr. Minimum. But Altig has never been about minimums. Set yours at least $2,400 a week. That’s about three sales. That’ll put between $1,400 and $1,500 in your pocket. That’s the Altig Minimum.
Top territories. Washington State jumped out into a strong lead a few weeks ago and have not relinquished. $42,232 in NEW agent production. That’s agents in their first six months. We’ve got a few territories that didn’t break that mark in Total Production. How do you change that? Hire some new agents. You’ll get huge MGA bonuses, you’ll get additional production, you’ll get back-up on your existing structure in case someone goes down. But one of the main reasons to always keep a steady flow of new hires: Your EXISTING agency. They can get stale and lose their zing if you don’t always have someone or something new happening. All the NFL teams are in training camp this week and you know whose working hardest? Well, yes, the rookies, who have something to prove and are trying to make the team. But the VETERANS. Suddenly a new bunch of 22 year-olds are coming in, giving 100%, and pushing them for their starting positions. Several Seahawks said they are getting in the best shape of their life. You know what else is happening? Teams are re-negotiating contracts with some of their veterans that have cheaper rookies out-performing them in camp. Sound cruel? That’s the environment we all work in, welcome to 2013. The days of putting your feet on the desk because you paid your dues left when your grandfather exited the workforce.
Back to Washington State. They were strong in POS. POS. Point of Sale. No. Piece of Stuff. No. Policy Owner Service. Yes. As a member of Altig, you have access to one of the largest data bases of buyers in the world. These are people that love our company, love our products, already bought some of it. Their life changed and they need more. How did their life change? Everyone’s life changes. Added a spouse. Changed a spouse. Added kids. Changed kids (kidding). Added a job. Added grandkids. Added a mortgage. Increased a mortgage. Increased pay bracket. Increased disposable income. There’s a million ways a person’s life changes. And people don’t automatically think (slap on forehead) Life Insurance! No, that’s YOUR job to remind them of that. Maybe the previous agent went in and didn’t sell them the right size of insurance. This might sound like a strong statement but you have a moral obligation to make sure that they have the right size insurance for their family.
It’s like the times I’ll try on a shirt or pants and my wife will tell me, “That doesn’t fit you well anymore.” Maybe it went through the wash a few too many times. Maybe it’s that pesky In-N-Out Burger they just put in down the road. It doesn’t matter why. The fact of the matter is that it doesn’t look good anymore. I need to put on another pants or shirt. And I appreciate my wife looking out for me. And that’s just a shirt. How much more critical is a family’s life insurance policies? You’re talking about a family’s future here.
I’ll give you one last reason to sell POS. It’s highly lucrative and profitable. Washington went 30 for 93 this week or 32%. Almost 1 out of three. Their tenured agents were 28 for 59 or 47%. Almost half agreed they needed to increase their policies or the coverage on their existing policies. And it gets better. These are generally long-term policy holders so when they add or increase policies, they tend to keep them…you got it. Long-term. That helps your quality numbers. Washington also did great on referral presentations. 44 out of 164 or 27%. You’ll almost always go better than 1 out of 4 on referrals.
Washington wrote $114,000 in Total ALP. High activity, $942 ALP per sale, and closing one out of 4. They are sending them out in pairs in Redmond and it has made huge difference. Nick Lorence topped $34,000 just on his own. I’m sure we’ll get to hear his insights at the Board or SWAT meeting next week. I can’t wait. Hunter Houvener is doing a great job out in Lynnwood. Their average sale is $1,263 apiece, so don’t think too small. Spokane under David Nham; Tacoma with Andrew Aaron, and Vlad Derevyanny in Renton had between $10K and $15K. Good work.
#2. Utah. $29,915 in new agent production. That’s 150% of standard. Their new agents are 14 out of 56 on referrals. Exactly 25%. Their tenured agents were 15 of 60. Exactly 25%. You will generally always go one out of four on referral presentations. They’re doing 12-13 presentations and selling $1,200 deals; that was too strong for most offices to keep up with. Agents in Utah average $3,000 in ALP. Bump that up to 20 presentations and they’d be turning in $5,000. Now you’ll never have a management challenge again. Except helping your agents properly handle their money. Patrick Rieger led the state with $28,000 out of his MGA-ship. Trevor Mayer topped $20,000 to come in a close second in Salt Lake City North.
#3. Hawaii. $20,415. Their new agents had 68 referral presentations. And 1 response card presentation. They’ve already figured out where the gold is. Blake Higuchi is the lead dog right now with $18,780 in ALP, with Jonathan Emura on his heels in Maui. Waipahu under Kimo Collins and Ualena led by Daven Hermosura are also over the $10,000 mark.
#4. Virginia. $19,887. Another office that is now doing more referral presentations that anything else. 27 coded agents and every one of them wrote. That’s great work ethic. Virginia Beach topped $20,000 and Manassas and Richmond bested $10,000. Jon Maust is making it happen in Virginia Beach, and Steve Marker and Ryan Tucker set the pace in the rest of the state.
#5. Alberta. $19,884. #3, 4 and 5 were all within $600 of each other. That’s close. Calgary was one of the top offices in the company. They have the dueling talents of John McGrath ($17,000) and Melinda Rae Lyse’s MGA-ship at ($14,500). Melinda Rae make sure it happens in that part of the country.