insurance sales planning and organizing

1. MODULE ON
PLANNING AND
ORGANIZING
“How to Get More Done,”
with Better Results, in Less
Time.”

2. PLAN COOPERATIVELY

3. INTRODUCTION
As a PHILFIRE agent, you are NOT ONLY a
professional salesman BUT ALSO a business owner.
And so, ultimately, your success depends on how
well you run your business. It is impossible to enjoy
the rewards of your own business without accepting
and living up to the responsibilities of running that
business.

4. THE BUSINESS PLAN
Becoming a successful businessman, however, begins with
a solid foundation in place, that is, having a good business
plan.

5. GENERAL OBJECTIVES
After taking this module, you should be able to:
 Learn the steps
necessary to develop a
sound business plan of
your own and use the tools
other successful agents
have developed;

6. GENERAL OBJECTIVES
 Put your plan into action to become organized and productive;

7. GENERAL OBJECTIVES
 Know where you are now, where you want to be and what you must do to
get there.

8. SPECIFIC OBJECTIVES
Specifically, you should be able to:
 Learn how to fill out properly the “My Money Needs” Form, thus further
enabling you to establish realistic income goals;
 Translate your money needs into how many number of sales, prospects,
approaches and closing interviews you will need to conduct each week in
order to reach your goal;
 Learn how to use the “Weekly Plan Sheet,” the “20 Points – A – Day
Checklist,” thus, further enabling you to organize your activities.

9. INTRODUCTION
OBJECTIVES
CHAPTER 1: Developing a Good Business Plan
Step 1: Determine Your Income Goal
Step 2: Determine What You Need to Do to Reach Your
Income Goal
CHAPTER 2: Organizing for Success
Step 3: Put Your Plan into Action
Tools
Action Project
“How to Get More Done, with Better Results, in Less Time.”
TABLE OF CONTENTS

10. Chapter 1
Developing a Good Business Plan
Developing a good business plan begins by
answering 3 important questions:
“Where am I now?”

11. Developing a Good Business Plan
 “Where do I want my business to be
in the next few months or years?”

12. Developing a Good Business Plan
“What is the best way
to get there?”
or “How can I
surely get
there?“

13. What is planning?
 deciding in advance WHAT TO DO, HOW TO DO, and WHEN TO DO IT.
 a process that helps you get more done, with better results, in less time
 provides you with a map of where you want to go and the best way to get
there
 allows you to be in control of your business rather than be controlled by it
 making a commitment to action to achieving specific objectives

14. Why plan?
It saves time.
It makes decision making easier.
It provides a standard to measure results.
It helps you get more done, with better results, in less time.

15. Characteristics of a Good
Business Plan
There are written goals which are
simple and easy to understand

16. Characteristics of a Good Business Plan / There are
specific activities necessary to reach those goals

17. 3 Steps of Putting a Sound Business Plan
Together
 determine your income goal
 determine what you need to do
to reach your income goal
 put your plan into action

18. Step 1: Determine Your Income Goal
As a businessman in your professional underwriting
career with PHILFIRE, you did not have to come up
with a big cash outlay to start a business. But, just
like in any other business, it is important to know
how much money you will need.

19. MY MONEY NEEDS
The first step in planning for greater success is to find out how much
income you need.
MONTHLY TOTAL TOTAL
MONTHLY ANNUAL
I. PERSONAL NEEDS
A. LIVING EXPENSES
Food……………………………… _________
Clothing………………………….. _________
Personal Expenses…………….. _________
Auto/transportation Expenses…. _________
Spouses Expenses……………... _________
Medical…………………………… _________
Special Purchases……………… _________
Others (contingency)…………… _________
P _____________ P ___________

20. MY MONEY NEEDS
MONTHLY TOTAL TOTAL
MONTHLY ANNUAL
I. PERSONAL NEEDS
B. FIXED EXPENSES
Rent or mortgage payments…_________
Utilities: gas……………….….. _________
Electricity …………….. ………_________
Water………………….. ………_________
Telephone……………………. _________
Tuition fees…………………… _________
Salaries – household ……….. _________
Social security…………………_________
Taxes…………………………..._________
Others…………………………. _________
P _____________ P ___________

21. MY MONEY NEEDS
MONTHLY TOTAL TOTAL
MONTHLY ANNUAL
I. PERSONAL NEEDS
C. SAVINGS AND ACCUMULATION
Life insurance………………………….…_________
Savings Account………….…………….. _________
Debt reduction (other than mortgage)…_________
Investment……...……………….. ………_________
Others (contingency).……………………. _________
P __________ P __________

22. MY MONEY NEEDS
MONTHLY TOTAL TOTAL
MONTHLY ANNUAL
I. PERSONAL NEEDS
D. MISCELLANEOUS
Churches and Charities………………._________
Club & Association Dues………….…. _________
Entertainment/Theatre/Amusement… _________
Club and Lodge Dues …………………_________
Gifts and Services.……………………. _________
Vacation……………………………….. _________
Others…………………………………. ._________
P __________ P __________

23. MY MONEY NEEDS
MONTHLY TOTAL TOTAL
MONTHLY ANNUAL
II. BUSINESS NEEDS
Sales advertising ……………………._________
Periodicals………….………………... _________
Phone, stationery, postage………… _________
Business travel & auto expense……._________
Secretarial Services.…………………_________
Others………………………………… _________
P __________ P __________

24. MY MONEY NEEDS
TOTAL
ANNUAL
1. Total Annual Income Required …………………………….. P __________
2. Less Estimated Annual Renewal Income ..……………….. P __________
* Sub-total…....P __________
3. Less other sources of income
(spouse’s earnings, outside income, etc.)…………………………..P __________
4. First year Commission Required for the Year………………………P__________

25. Converting the First Year Commission Goal into
Weekly Activities – Worksheet
1. First Year Commissions Required……………………. P _______________
(From My Money Needs)
2. Submitted Premium……………………………………. P _______________
(Divide First-Year Commission by .45)
3. Submitted Premium/Week……………………………. P _______________
(Divide Submitted Premium by 46)
4. Number of Sales/Week………………………………. P _______________
(Divide Submitted Premium/Week (/5,000))
5. Number of Sales Interviews/Week………………… P _______________
(Number of Sales x 3)

26. Converting the First Year Commission Goal into Weekly Activities –
Worksheet
6. Number of Contacts/Week…………………………… P _______________
(Number of Sales x 10)
7. Number of Prospects/Week…..………………………. P _______________
(Number of Sales x 20)
8. Number of Referrals/Week………………………….. P _______________
(Number of Sales x 5)
9. Thirteen – Twenty Four Month Renewal Goal….. P _______________

27. Step 2: Determine What You Need To
Do to Reach Your Income Goal
Figuring out Your Weekly Sales Activity Requirements
(Action Plan)
One of the most effective business formulas to remember to
succeed as PHILFIRE Insurance agents is:
Figure out what you have to do to reach that goal
SALES = ACTIVITY + SKILLS
Calculate the number of sales you need to do each week

28. Daily Activity Formula
Names> Contacts> Sales Interviews> Sales> Referrals
20 10 3 1 5

29. Definition of Terms
Contact – an actual conversation that takes place, either face-
to face or by telephone, to try to set up either a sales
appointment.
Sales Interview – A face-to-face meeting where you recommend
a product and try to close the sale.
Referral – name and address of an individual, provided to you by
a prospect or client, who can be contacted for an appointment to
discuss the purchase of life insurance.
Prospects - names and address of an individual who can be
contacted for an appointment to discuss the purchase of life
insurance.

30. Steps to follow to figure out the minimum amount of sales activity
you need each week:
Step 1. Write down the Number of Sales you need to make each week.
Multiply that number by your own closing ratio, or use the worksheet’s
factor of 3.
Step 2. To figure out how many Contacts you need to make each week,
use your own ratio or take the number of sales you need to make each
week and multiply it by the worksheet’s factor of 10.
Step 3. To calculate the minimum number of names and address of
Prospects/Week you will need, use your own ratio or the worksheet’s
factor of 20 and multiply it by your Number of Sales/Week goal.
Step 4. Finally, write-in your weekly minimum Referral goal. On the
average, you should try to get at least 5 names for each sale you
make.

31. Number of Sales/Week 1
(Divide Submitted Premium/Week by P _______
Number of Sales Interview/Week 3
(Number of Sales x 3)
Number of Contacts /Week 10
(Number of Sales x 20)
Number of Referrals/Week 5
(Number of Sales x 5)
(13-24 Month Renewal Rate) 66%

32. Chapter 2
Organizing for Success
“While a good business plan can help you decide what you want and
need to do to get it, organization is the key to actually getting it
there.”
What do you do with the time you have?
Ask yourself:
 “Do I often find myself saying – if only I had more time?”
 “Do I find myself forgetting things?”
 “Do I find myself starting each morning and ending each day
with a lot of things left undone?”
 “Do I find myself each morning asking – what should I do
today?
Whom shall I talk to today?

33. IF the answers are YES to the previous questions,
then better get organized with your time.
So the problem is not time – it is not how much you have to do – but
what you do with the time you have. And the only way to get the
most out of time is to get organized.
The Best Kept Secret
“The best kept secret to being successful is not working more
hours, but in making the hours work harder for you.”
So, the key to make the most out of your time is ORGANIZATION.
What should you do to help yourself better organized?
“Plan Your Week and Work Your Plan.”

34. Here are seven tips from successful agents that you can use to
get more out of your time:
Do not procrastinate
Sell five or six days a week
Make appointments: 2 + 2 rule
(2 in the morning and 2 in the afternoon)
Keep records
Set priorities
Break weekly goals into daily objectives
Plan each week one week in advance

35. Step 3: Put Your Plan Into Action
To put your plan into action is to use a simple scheduling system
and activity recording tool that works well week after week.
Weekly Plan Sheet
- a time management tool that gives you a snapshot of all your
activities in a six-day week
It will help you:
 Calculate your own personal weekly activity formula.
 Organize all your weekly activity on a daily basis.
 Summarize the results of all that activity
 Compare your weekly results to your activity goals.
 Track your year-to-date progress toward reaching your goals.

36. In the order of importance, there are at least eight areas
in which your work should be scheduled, as follows:
2. Contacting prospects for appointments (approaches)
1. Prospecting
3. Making sales appointments
4. Conducting sales interviews
5. Conserving overdue business
6. Policy deliveries
7. Policyholder service calls
8. Record keeping
9. Study and family time
10. Planning and organizing

37. Uses:
1. Provides you with a minimum, non-negotiable performance
standard (“given goals”) that comes with the job.
2. Provides you with an important diagnostic tool.
An essential activity tracking tool designed to ensure that
you are involved in a minimum number of the kind of
activities (supporter goals) needed to generate sales.
20 Points-A-Day

38. Points are rewarded as follows:
Each referred lead 1 point
Each approach 1 point
Each appointment kept 2 points
Each seen call 2 points
Each closing interview 4 points
Each sales made 5 points
Each annual policy review 5 points

39. For example, on Monday, you:
Asked for and received 3 referrals 3 points
Made 5 approaches 5 points
Set up 2 appointments 4 points
Made 2 seen calls 4 points
Conducted 1 closing interview 4 points
Made 1 sale 5 points
Grand Total 25 points

40. 20 POINTS-A-DAY CHECK LIST
(WEEKLY GOAL)
AGENT: ______________________ Remember, 20 points-a-day minimum - everyday
BM: __________________________ Don’t stop, work without it!
DATE: ________________________
ACTIVITY MON TUE WED THU FRI SAT SUN
WEEKLY
TOTAL
Referred leads
1 point each
Approaches
1 point each
Appointments
1 point each
Seen Calls
2 points each
Closing Intrvw
4 points each
Annual Pol Rvw
5 points each
TOTAL POINTS
No. of Sales
Annualized
Premium/ANP

41. PLANNING & ORGANIZING TOOLS
MODULE 1

42. MY MONEY NEEDS
The first step in planning for greater success is to find how much income you need.
I. PERSONAL NEED
A. LIVING EXPENSES
Food ………………………………..………… P______________________
Clothing………………………..……………… ______________________
Personal Expenses…………………………. ______________________
Auto/transprtation Expenses………………. ______________________
Spouses Expenses…………………………. ______________________
Medical………………………………………. ______________________
Special Purchases………………………….. ______________________
Others (contigency)…………………………. ______________________
P______________________ P______________________
B. FIXED EXPENSES
Rent or mortgage payments……………….. P______________________
Utilities: gas…………………………………. ______________________
Electricity…………………………………….. ______________________
Water…………………………………………. ______________________
Telephone……………………………………. ______________________
Tuition fees…………………………………… ______________________
Salaries - household………………………… ______________________
Social Security………………………………. ______________________
Taxes…………………………………………. ______________________
Others………………………………………… ______________________
P______________________ P______________________
C. SAVINGS AND ACCUMULATION
Life insurance………………………………… P______________________
Savings Account…………………………….. ______________________
Debt reduction (other than mortg.)……..….. ______________________
Investment…………………………………….. ______________________
Others (contigency)…………………………. ______________________
P______________________ P______________________
MONTHLY
MONTHLY MONTHLY
TOTAL TOTAL

43. D. MISCELLANEOUS
Churches and Charities………………….. P______________________
Club & Assoication Dues………………… ______________________
Entertainment/Theatre/Amusement…….. ______________________
Club and Lodge Dues…………………….. ______________________
Gifts and Services………………………… ______________________
Vacation…………………………………… ______________________
Others……………………………………… ______________________
P______________________ P______________________
II. BUSINESS NEEDS
Sales advertising…………………………. P______________________
Periodicals………………………………… ______________________
Phone, stationery, psotage……………… ______________________
Business travel & auto expense..………. ______________________
Secretarial services………………………. ______________________
Others……………………………………… ______________________
P______________________ P______________________
1. Total Annual Income Required…………………………………………………………………………….. P______________________
2. Less Estimated Annual Renewal Income………………………………………………………………… P______________________
Sub-total……………..…………………………………………. P______________________
3. Less other sources of income (spouse's earnings, outside income, etc)…………………………….. P______________________
4. First year Commission Required for the Year……………………………………………………………. P______________________
MONTHLY TOTAL TOTAL
MONTHLY MONTHLY

44. Converting the First Year Commission Goal into Weekly
Activities – Worksheet
1. First Year Commission Required………………………………………………… P ___________
(From My Money Needs)
2. Submitted Premium………………………………………………………………………. P ___________
(Divide First-Year Commission by .45)
3. Submitted Premium/Week……………………………………………………………… P ___________
(Divide Submitted Premium by 46)
4. Number of Sales/Week……………………………………………………………… P ___________
(Divide Submitted Premium/Week by P__)
5. Number of Sales Interviews/Week………………………………………… P ___________
(Number of Sales x 3)
6. Number of Contracts/Week………………………………………………… ….. P ___________
(Number of Sales x 10)
6. Number of Prospects/Week …………………………………………………… P ___________
(Number of Sales x 20)
7. Number of Referrals/Week …………………………………………………… P ___________
(Number of Sales x 5)
8. Thirteen – Twenty Four Month Persistency Goal………………… P ___________%

45. AGENT:_____________________________Plan next week's activity by WEEK OF: ______________________
BM:________________________________Saturday of this week DATE REVIEWED: _________________
MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY SATURDAY SUNDAY
5:00
6:00
7:00
8:00
9:00
10:00
11:00
12:00
13:00
14:00
15:00
16:00
17:00
18:00
19:00
20:00
21:00
22:00
23:00
0:00
1:00
WEEKLY PLAN SHEET
"Plan your week and work your plan."

46. 20 POINTS-A-DAY CHECK LIST
(WEEKLY GOAL)
AGENT: ______________________ Remember, 20 points-a-day minimum - everyday
BM: __________________________ Don’t stop, don’t work without it!
DATE: ________________________
ACTIVITY MON TUE WED THU FRI SAT SUN
WEEKLY
TOTAL
Referred leads
1 point each
Approaches
1 point each
Appointments
1 point each
Seen Calls
2 points each
Closing Intrvw
4 points each
Annual Pol Rvw
5 points each
TOTAL POINTS
No. of Sales
Annualized
Premium/ANP

47. Referred Lead – the name and address of a prospect given to you by
a client, friend or another prospect.
Approach – a telephone or face to face effort to secure an
appointment now or at a future date.
Appointment – an arrangement made in advance to meet a client or
prospect at a particular time and place.
Seen Call – an appointment that actually takes places.
Closing Interview – an appointment in which two or more serious
efforts are made to get the prospect to purchase a PHILFIRE
Insurance policy.
Sale – a pre-paid and submitted non-life insurance application
Annual Policy Review – a review of the Annual Policy Statement
together with the Quality Check-up Form.
DEFINITIONS:

48. ACTION PROJECT
After completing this project, you will know exactly how much income
you want and need to earn for the year (or balance of the year), the
amount of weekly sales activities required to reach that goal, and
create a written Performance agreement with your manager to help
you get started.
Directions:
Obtain a copy of the “My Money Needs.” Complete each line item
according to the instructions found in this module.

49. CONVERSION WORK SHEET
Obtain a copy of the Conversion Worksheet. Transfer your
First Year Commission Goal to line one of the worksheet.
Then, follow the directions establishing both the number of
sales as well as prospects, approaches, and closing interviews
you will need to conduct each week in order to reach your
goal.
Provides copies of your conversion worksheets to your
manager. Discuss both your weekly sales goals and activity
levels with him. Together create a written Performance
Agreement identifying what you and your manager will do for
the coming week in order to help you reach those goals.

50. END OF MODULE 1
PRESENTATION