Selling Annuities With Duford Insurance Group!
- Get 1-on-1 coaching and mentoring from annuity industry veteran, Stephen Burgess
- Learn how to uncover annuity opportunities in your existing book of business or lead system
- Weekly group coaching and training opportunities
Annuity Sales Frequently Asked Questions
What Are Annuities?
Annuities are life insurance products that eliminate the risk of principal loss on an insured’s money while exposing his money to gains in the market.
At DIG, we primarily market retirees for this using what’s known as a fixed index annuity, granting the retiree upside market gain potential while guaranteeing no risk of loss due to a bad stock market.
Who Is Our Target Market?
Our target market for annuity sales is the Senior Citizen/Baby Boomer demographic.
Roughly, this refers to people 50 and older who have low to moderate levels of income. The vast majority of our market is either:
- Disabled and cannot work, or,
- Retired and chooses not to work.
We love this demographic because of its long-term fundamental strengths, and believe there exists decades of sales opportunity for agents who commit to it.
Some benefits of the Senior Citizen/Baby Boomer market include:
- 11,000 people turn 65 each DAY between 2020 and 2030.
- The 65 and older population will increase 50% from 2020 to 2040 (from approximately 50 million to 75 million).
- Social Security pays our prospects no matter what the economy does, providing sales opportunities to prospects with less income sensitivity compared to working people.
- Medicare supplemental insurance companies invest millions upon millions of dollars to promote purchasing Medicare Advantage and Medicare Supplement policies, which conditions Medicare recipients into thinking buying an additional Medicare policy is a must-have purchase.
- Social Security and Medicare are political third rails. Few politicians will risk their careers attempting to reform either program as voters in older age brackets will vote them out if either program is even threatened.
Which Annuity Carriers Do We Offer?
Since DIG is an independent broker, we offer a variety of insurance carriers for agents to select from.
We usually start agents with either:
- Athene or,
- American Equity,
…but have access to several other annuity carriers, as well.
What Kind Of Results Do Duford Insurance Group Annuity Agents Get?
While results vary, we have documented many success stories on agents who have successfully cross-sold annuities to their existing insurance lead program.
Your success is our primary directive, and we want you to know many have come before you who have experienced success.
Why Should I Sell Annuities With The Duford Insurance Group Versus Another Agency?
At the end of the day, it comes down to one thing:
Training and support!
Most people have access to annuities with many other agencies, but they have very little opportunity to learn how to actually sell annuities. This is not the case with the Duford Insurance Group.
As a Duford Insurance Group annuity agent, you’ll partner with Stephen Burgess, who has sold millions of dollars in annuities over his almost decade-long experience in the insurance business.
Stephen not only knows how to sell annuities effectively to his prospects but also how to teach it so that you’ll understand why an annuity is a good product and what hot buttons to press with your clients to get them and convince them to buy from you.
I sell Final Expense, Mortgage Protection, and/or Medicare At Another Agency. Can I Still Sell Annuities With The Duford Insurance Group?
In short, yes.
We’re happy to have you come aboard and exclusively sell annuities to your existing lead system even if you have other relationships with other agencies.
The only obligation we ask of you is to do all of your annuity business with us in exchange for us training you on how to uncover the opportunities and how to close them.
How Does Onboarding Work For Annuity Agents New To DIG?
The standard on-boarding process for agents new to annuity sales involves the following:
- Review the detailed fact-finder training module above. Implement what you learn to uncover annuity sales opportunities. Click here to download the Annuity Fact-Finder.
- Stephen Burgess will personally reach out to discuss the viability of the opportunity, and what steps you need to take regarding carrier selection to offer the ideal product to your prospect.
How Has Covid-19, Recessions/Depressions Affected Selling The Senior Citizen/Baby Boomer Market?
Believe it or not, little to none!
In fact, some agents’ sales results have only improved since the Covid-19 pandemic began.
Here’s a few reasons why pandemics, recessions, and Depressions have less impact in our market than others:
- Guaranteed Income. Almost all our clients receive Social Security income payments. The US Government has never been late paying Social Security at any time since its inception nearly 100 years ago. And this means when the economy goes bad and workers lose their jobs, our prospects continue to get paid, on time and without reduction. This translates into a business model with less swings up and down and more consistency.
- Gaps In Medicare Coverage. When a senior turns 65 and starts Medicare, most feel additional coverage is necessary to fill the gaps in their coverage. And naturally, being older and closer to life’s end, there is more concern (especially as we’ve seen during the pandemic) about having quality health insurance coverage than in earlier years.
- Business Model Flexibility. For final expense and Medicare, we can successfully sell either face-to-face or over the phone. If there is some sort of lockdown or restrictions face-to-face, it is within reason to sell over the phone with similar success.
What Kind Of Experience Is Required To Join Duford Insurance Group?
First, if you are a NEWLY licensed insurance agent, we welcome you to consider joining DIG.
In fact, David Duford has always focused on recruiting and training new agents into top producers.
Experienced agents are welcome, too =).
Other than that, pedigree, resumes, and work history DO NOT MATTER.
All we care about is the following:
- An appetite for action
- Ability and willingness to invest in leads
- A can-do attitude
- Not a whiner/complainer
- Passion for helping people
- Significant work-ethic
If you possess these traits, it’s likely Duford Insurance Group is a perfect fit, no matter your work history.
How Do Annuity Leads Work With The Duford Insurance Group?
Because most annuity lead programs are very expensive (think $400 plus per lead), annuities are typically cross sold in our agency utilizing some sort of existing lead programs such as:
- Final Expense leads,
- Mortgage protection leads,
- Medicare leads, or,
- Cross selling to your existing network of friends and family.
If you do not have an existing lead or prospecting methodology, we do not recommend that you join the Duford Insurance Group to sell annuities, since the nature of how we teach you how to sell annuities extends from an existing lead system.
Do I Need A License? If So, What Kind?
For the annuities we sell, in most states, all you need is a life insurance license. Some states require additional testing. You do NOT need a financial advisor certification as we do not sell variable annuities.
Click this link to get more specific directions on how to get your insurance license, and where to get pre-licensing started.
NOTE: Get $150 off of your pre-licensing exam for life and health here.
Expect this process of licensing to take 2 to 3 weeks for the average person.
Is This MLM, Pyramid Scheme?
NO, this is NOT a multi-level marketing pyramid scheme. You NEVER have to:
- Recruit other agents
- Sell your friends and family if you don’t want to, or
- Attend annoying Kool-aid rah-rah conferences.
If anything, the Duford Insurance Group is the “anti-MLM” agency.
Do You Work With Part-time Agents?
Yes! DIG founder David Duford started selling final expense part-time in 2011.
Part-time DEFINITELY works, but you need to have a FULL-TIME mentality to make it work optimally.
All About Numbers
What’s The Average Annuity Case Size?
Annuity sales range widely in size.
We’ve seen small, $25,000 annuities and up to $1,000,000 plus annuities close in our agency.
If there is an average, we’d say the average annuity case size is around $100,000.
How Does DIG’s Annuity Sales And Marketing Training Work?
Here’s how annuity training works at Duford Insurance Group:
- Free Fact Finder Training. We train agents to first find annuity opportunities in their existing lead systems. See the fact-finder video at the very top for a full breakdown on how to uncover annuity opportunities. Once you find an opportunity, the next step is to submit the fact-finder to us. Then, my annuity trainer Stephen Burgess will call you to go over the viability of the opportunity and explain what would happen next.
- One-on-one coaching. You have access to Stephen Burgess directly to help design your annuity case for your client, in addition to coaching you personally on the best practices of following up and getting the annuity issued.
- Direct access to David Duford. As a DIG agent, you’ll get David Duford’s personal cell phone whenever you need help with anything. Just call and/or text and David is at your service.
I Want To Sell Annuities With Duford Insurance Group. What’s The Next Step?
1. The first step in working with DIG to sell annuities is to find a prospect!
Use the Annuity Fact Finder above, then reach out to us on our Contact page.
Stephen will reach out and begin the process of reviewing your opportunity.
If there’s any questions about this process that you have, you can reach out to us here.
I’m happy to assist with any particular questions that you’ve got.
Look forward to doing business with you!