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A History of Blood – Vol. 3, Chapter 19

A chapter that summarizes all the notes from my first week working with Link Management.

Below is all the notes from Training Days 1-5 while working with Link Management, a project management firm in Tampa, FL. I work with them as an Insurance Agent, teaching sales to their Account Executives and providing employee benefits.

A History of Blood – Vol. 3, Chapter 18

My first social event since moving to Tampa, FL and partnering up with Link Management.

Déjà vu

I’ve been in the Insurance space for about 8 years now, with my career beginning on April 16, 2018, and since then, I’ve spent a lot of time working with different sales and marketing firms while adjusting to the extremely high learning curve involved with selling life insurance and annuities and/or building high volume sales teams. Over the course of said career, I’ve attended a lot of social events, but last night was still special for a few different reasons.

A History of Blood – Vol. 3, Chapter 17

Finalizing a deal to open an office in Tampa

Introduction

For those of you who are new to this blog, my name is Daquan Tyrell Pean, an Insurance Agent with PHP Agency. PHP stands for “People Helping People”.

PHP is what’s called an FMO or Field Marketing Organization in the Insurance space. They connect Independent Insurance Agents, like me, with the different carriers I use, such as Mutual of Omaha, Forester’s Financial, and National Life Group, and they also help with licensing. In addition, they also provide training, compliance, support, a CRM, and personalized marketing materials.

There is a one-time cost to get started with PHP. That cost is either paid for by the agent, or by the person sponsoring the agent, depending on the agent’s desired level of independence.

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A History of Blood – Vol. 3, Chapter 16

A game used to make the Insurance Business more fun and productive, typically used in combination with the “One Card System”.

Activity over Emotions

Yesterday was a somewhat productive day, highlighted by three specific things:

1. Completing my application for the Florida 2-15 license (life, health, and variable annuities)
2. A new (charcoal gray) blazer I purchased from the thrift store
3. A business meal with the Brandon Missionaries of the Church of Jesus Christ of Latter-Day Saints

This article is essentially going to go over why each of these expenses wad important, what I did right, and what I did wrong.

A History of Blood – Vol. 3, Chapter 15

I had a business meal and checked out two office spaces, before realizing my current career trajectory.

So today I checked out two different businesses which both had really cool concepts. The first was a Consulting Company that I’ll likely partner up with and the second turned out to be one of my competitors.

A History of Blood – Vol. 2, Chapter 13

After moving to Tampa it dawned on me that I would need a new business plan. While my old business plan focused on a hyperlocal marketing strategy, my new business plan focuses more on travel, quiet luxury, and the lifestyle of a successful insurance agent.

If my life was a movie

If my life was a movie there are really only three possible plot lines: my wife’s birthday, our wedding and or our anniversary, and the annual conference, highlighting the difference between the conference and my everyday life.

The annual conference takes place once a year in Vegas, and is the type of event that it’s worth renting a super car for. The reason being is simple, a huge networking and marketing opportunity where most of the agents committed to the business will gather, and the super car allows for a spectacular first impression.

Renting a McLaren 720S costs about $2,000 per day. Renting it for the conference has the added benefit of being a business expense, but I suppose you could say the same thing about renting the car or any other day, especially the conference just has the added benefit of being the most visible while still being the most relevant.

A History of Blood – Vol. 2, Chapter 12

The last two chapters I’ve talked about the products I sell, Life Insurance and Annuities. This chapter will be a bit more about the sales process and one of the most important documents to review with a potential agent or client: the Financial Life Strategy, also known as a fact-finding.

The Financial Life Strategy (FLS) is a document unique to PHP Agency, but the concept of fact-finding interview (sometimes called a needs-analysis) is an industry standard. This document is the bridge between a business prospect and a new client, and it sets the stage for a successful agent-client relationship, by introducing some of the core concepts that different insurance products address.

A History of Blood – Vol. 2, Chapter 11

Moving to Florida means transferring my resident insurance license, updating my contact information across a dozen different accounts, rewriting my business plan and registering it Florida, among other things. The end result will simply be my main office being based in Tampa, Florida, as opposed to Baltimore, Maryland.

Life Insurance AND Annuities

When most people hear the title, “insurance agent” they usually don’t think of retirement options, which is why I love teaching people about annuities

An annuity is a contract between you and an insurance company where you pay a lump sum or series of payments, and in return, the insurer provides regular income payments either for life or a set period of time.