Name: Insurance leads
Brand: Dial Haul

Short answer

These are the 51 words a new life insurance agent hears most in the first month, in plain English. Learn advance, chargeback, persistency and the three health classes first: level, graded and guaranteed issue. They decide what you earn and what you sell.

New agent? Start with Rookie: 250 leads for $199.

What do these words mean?

Advance: Part of a year’s commission paid up front when a policy is issued. If the policy lapses early, you may owe some back.
Aged lead: A quote request more than 30 days old. It costs less than a fresh lead and picks up less often.
Annual premium: What the client pays for a policy over one year.
Annuity: A contract that pays income over time, often used for retirement.
Appointment: A carrier’s approval for you to sell its products. You need one before you write business with that carrier.
Bad number credit: A credit Dial Haul gives when a lead’s phone is disconnected.
Beneficiary: The person who receives the money when the insured person dies.
Burial insurance: Another name for final expense coverage: a small policy for a funeral and final bills.
Callback: A call set for a time the lead picked.
Calling hours: The hours you may call a lead under federal and state rules, in the lead’s own time zone.
Captive agent: An agent who sells one company’s products.
Carrier: The insurance company that issues the policy.
Chargeback: Commission taken back when a policy lapses or cancels inside the chargeback window.
Chargeback window: The months after a sale when a lapse can trigger a chargeback.
Close rate: The share of full talks that turn into a sale.
Contact rate: The share of dials where a real person answers.
Continuing education: Classes you take to keep your license active. Your state sets the hours.
Contract level: Your commission level with a carrier, often set by your agency.
Cooling off period: Another name for the free look period.
Coverage amount: How much the policy pays out. Also called the face amount.
Dial: One call attempt to one lead.
Disposition: How a call ended: no answer, callback, sale, do not call and so on.
Do not call list: A list of numbers you may not call for sales. There is a national list, state lists and your own list.
Draft date: The day the client’s premium is taken from their bank account.
E and O insurance: Errors and omissions coverage that protects you if a client says you made a mistake.
Face amount: How much the policy pays out when the insured person dies.
Final expense: Small whole life coverage, often $5,000 to $25,000, for a funeral and final bills.
FMO: Field marketing organization: a larger version of an IMO.
Free look period: Days after delivery when the client can cancel the policy and get back every premium paid. Your state sets the length.
Fresh lead: A quote request under 30 days old.
Graded benefit: A policy that pays a partial benefit if death from illness happens in the first years.
Guaranteed issue: A policy with no health questions. It usually costs more and has a waiting period.
IMO: Independent marketing organization: gives independent agents contracts with many carriers.
Independent agent: An agent who contracts with many carriers.
Lapse: When a policy ends because the premium was not paid.
Lead: A person who asked for an insurance quote and agreed to be contacted.
Level benefit: A policy that pays the full benefit from day one.
License: Your state’s permission to sell insurance. You need one in each state where your leads live.
Monthly premium: What the client pays each month.
Nonresident license: A license to sell in a state where you do not live.
Objection: A reason the lead gives not to go ahead, like "send me something".
Opener: The first lines you say on a call.
Persistency: The share of your policies still in force after a set time, often 13 months.
Pipeline: Your leads sorted by where they are: new, callback, appointment, sold.
Policy: The insurance contract between the client and the carrier.
Premium: The price of the policy.
Referral: A new lead given to you by a happy client.
Shared lead: A lead sold to more than one agent. Fresh leads are usually sold 1 to 5 times. Older aged leads can be sold 6 to 10 times, and they cost less.
Term life: Coverage for a set number of years, like 10, 20 or 30.
Underwriting: How the carrier checks health and history to decide whether to issue a policy and at what price.
Whole life: Coverage that lasts for life and builds cash value.

Life insurance terms for new agents.

What do these words mean?

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