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    Business without Capital: Insurance Selling
    Business without Capital: Insurance Selling
    Business without Capital: Insurance Selling
    Ebook106 pages1 hour

    Business without Capital: Insurance Selling

    By Bobby Madrid

    4.5/5

    ()

    Read preview

    About this ebook

    The Philippine insurance industry's Bobby Madrid leads the reader through the simple process of engaging in a business that needs no capital but dedication and determination. As he himself has continuously undertaken, Madrid outlines the steps that lead to success—including the “triggers” needed to turn challenges into incentives.

    LanguageEnglish
    PublisherAnvil Publishing, Inc.
    Release dateSep 21, 2017
    ISBN9789712729140
    Business without Capital: Insurance Selling

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    4.5/5

    4 ratings2 reviews

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    • 5/5
      It is very Informative and inspirational for advisors and managers. What else could I say?
    • 4/5
      It's a good read and very inspirational for insurance agents to have different perspective of what a life-insurance business is all about.

    Book preview

    Business without Capital - Bobby Madrid

    Business Without Capital

    Insurance Selling

    Bobby Madrid

    Business Without Capital: Insurance Selling

    By Bobby Madrid

    Copyright to this digital edition 2013 by

    Carlos Palanca Foundation Inc. and Anvil Publishing, Inc.

    All rights reserved. No part of this book may be reproduced in

    any form or by any means without the written permission of the

    copyright owners.

    Published and exclusively distributed by

    ANVIL PUBLISHING, INC.

    7th Floor Quad Alpha Centrum Building

    125 Pioneer Street, Mandaluyong City

    1550 Philippines

    Trunk Lines: (+632) 4774752, 4774755 to 57

    Sales and Marketing: Loc 809/813/816

    marketing@anvilpublishing.com

    Fax: (+632) 7471622

    www.anvilpublishing.com

    Editing by Alfred A. Yuson

    Book design by Francis Manio (cover) and Jo Pantorillo (interior)

    Folio photos from the personal collection of the author

    ISBN 9789712729140 (e-book)

    Version 1.0.1

    This book is dedicated to all aspiring and current career agents, and to anyone pondering on how to start a successful and financially rewarding career today.

    Know your triggers and persevere.

    All of God’s blessings for me and my family came from this business without capital — and none of them would have happened without His wisdom and guidance.

    Contents

    The I Did It, So Can You

    book series

    The Carlos Palanca Foundation — which has run the much-admired institution that the Carlos Palanca Memorial Awards for Literature has become in its over six decades of existence — now evolves a publications series that should inspire generations of Filipinos to emulate the steps taken by individuals who have risen to the top of their careers.

    As a wide-ranging series, the books are envisioned to instill confidence and resolve among readers in any field of endeavor.

    This first book in the series highlights the how-to steps as outlined by insurance guru Bobby Madrid, who rose from his modest beginning as a sales agent to a manager in his own esteem, and eventually as CEO and Chairman of the Board of several life insurance entities that he has propelled to the highest ranks in the industry.

    Commitment, dedication, and discipline have been his only investment in this business that requires no financial capital.

    From Salesman to Chairman has been his success story — certainly one worthy of emulation.

    You can do it, too.

    Acknowledgments

    There are several people whose help I want to acknowledge.

    First is Bob Morris, former general manager of Manulife Philippines, who taught me the principles of how to be a professional career agent.

    Next is Gary Dick, former general manager of Manulife Philippines and successor of Bob Morris, who was instrumental in my being chosen as the first Filipino president of Manulife.

    I also thank Mark Tucker, former group chief executive of Prudential UK and current AIA group executive chairman and CEO, for trusting me and my head of sales Vic Español to build Pru Life UK in the Philippines.

    Carlos Palanca III, who made this book possible — as well as Sylvia Palanca Quirino and her team, who graciously guided it through all the trials.

    Krip Yuson and his team who helped me write this book.

    And lastly, to my wife, Baby (Deen-Osmeña), and our four children — Martin, Maddy, JV, and Mai Mai — who have stood by me and supported me throughout my career. You are my triggers that inspired me to succeed. I love you all very much.

    Part 1

    An Excellent Business

    Selling insurance is a business that can give you the life that you have dreamed of — for yourself and your family!

    It is a business, and I say it’s an excellent business, because the monetary rewards have no limits. It does not require much training. It does not require tenure.

    You can be a millionaire in an instant!

    The only investment it requires is your commitment, dedication, and discipline. No cash, no capital is required!

    Some people may think of life insurance as death insurance, and they do not like the thought of dying.

    But it is correctly called life insurance because it gives life to the people who are left behind when a breadwinner passes away.

    The basic necessities of life — which are food, clothing, shelter and education — will still be given to a family even if the breadwinner is no longer there.

    In other words, he still gives life even after he’s gone. And, what is that life? That life is security for the family.

    The dreams and aspirations of parents for their children can still be fulfilled even though they’re no longer around, because of this wonderful product called life insurance.

    So if we look at insurance as not being related to death but rather related to life, then we view it from a different perspective.

    Looking at life insurance from this point of view will erase whatever negative impression some people may have of it.

    Educating the insurance agent

    The first thing I tell any insurance agent is never to go out to meet clients without being prepared. They should know the product very well. And they must have carefully studied and reviewed the financial advice they will give clients.

    It’s the marketing side that’s important, the selling part of it. If the person who is selling or offering this wonderful product has studied the product well and what it can do, then he is a professional in a real sense.

    It’s like telling a quack doctor from a

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