Page 52 - One Thousand Ways to Make $1000

That was the importance of telling the truth about the mutual benefit policies.
Later on, I learned another and that was to learn all there is to know about the
policies and the protection they provided. I spent almost seven weeks
learning everything I needed to know about them. Meanwhile, I wasn’t
selling many memberships.

“As time passed, though, I became convinced that I could sell them. The
thing that was holding me back was not knowing where to find prospects who
needed protection. Usually, the man who is able to carry old line insurance is
not a prospect for mutual benefit policies. But those who have been forced by
circumstances to drop their old line policies are in need of some protection.
The mutual benefit plan is a godsend to them, inasmuch as the cost of this
protection is relatively small, compared with the cost of regular life
insurance. These benefit policies require no medical examination, and pay
benefits up to a thousand dollars. The monthly cost is only one dollar, which
most people can afford to pay.

“I struck up an acquaintance with an old line insurance solicitor one
afternoon, and we talked about business. He told me that many of his
customers were forced to give up their big policies, and were carrying only
small industrial policies. That made me curious to see these people. I asked
him if he would tell me the names of a few new lapsed policies on his debit,
and he did this readily. I called on them. Being careful not to say anything
that would be looked upon as knocking the old line company, I explained that
this mutual policy was actually replacing the larger old line insurance in
many instances, where the family could not afford to keep up their premiums.
I then pointed to the low cost, and the safety features of the benefit policy I
was selling. I sold each one of them and in a day or so called back offering
two dollars commission for each policy I sold to friends they recommended.
They took advantage of my offer and gave me the names of friends and
relatives. Within a week I had signed up fifty-four memberships from those
recommended. These in turn recommended a number of others and within a
short while I had all the prospects I needed.”

Unique Cigarette Dispensing Humidor