Am I Charge Back Hell?

[Rearden]

Your probably right, but the last thing I would ever suggest to a new agent is to start your final expense career pimping insurance in the ghetto.

There are more agents who have closed shop due to the inherent difficulties of working the hood versus those who have survived.

It's much better to drop mail in Rural or Small Town America starting off, instead of working the hood.

If you are to work the ghetto, at a minimum, I would put an income floor of $15k on -- that will cut out a lot of the garbage business you'll run into.

I would say they are the same neighborhoods. People are the same everywhere. I wouldn't think there would be much difference in the hoods from Northwest Tn thru Western Ky to Southwest In from the hoods in Southeast Tn and Northeast Ga.

Maybe they are? I would doubt it though.

 

[deadhead]

Your probably right, but the last thing I would ever suggest to a new agent is to start your final expense career pimping insurance in the ghetto.

There are more agents who have closed shop due to the inherent difficulties of working the hood versus those who have survived.

It's much better to drop mail in Rural or Small Town America starting off, instead of working the hood.

If you are to work the ghetto, at a minimum, I would put an income floor of $15k on -- that will cut out a lot of the garbage business you'll run into.

Love the sarcasm......................

 

[jdeasy]

Your probably right, but the last thing I would ever suggest to a new agent is to start your final expense career pimping insurance in the ghetto.

There are more agents who have closed shop due to the inherent difficulties of working the hood versus those who have survived.

It's much better to drop mail in Rural or Small Town America starting off, instead of working the hood.

If you are to work the ghetto, at a minimum, I would put an income floor of $15k on -- that will cut out a lot of the garbage business you'll run into.

I don't agree with that. I don't see the reason new agents fail being where they work. New agents fail at this at over a 90% rate regardless of where they work.

New agents fail because they don't know how to sell, they were fed a bunch of BS about how easy this is and/or they are using FE as a stepping stone to the real riches of insurance.

It's kinda like the argument over what kind of lead to use and what the card should say on it. New agents do need the lead card to do more for them.

I've seen just as many agents wash out that were working the better class neighborhoods as were working the hoods.

The key is not overselling. I just replaced a CL this week that I couldn't beat the price on enough for the lady to change. But she had a $17,000 policy and was going to drop it. I asked her how she arrived at $17,000. She said she really only wanted $10,000 but he kept telling about how funerals were going up and $10,000 wouldn't pay for it. I sold her a $10,000 policy. Now, he made a $75/mo sale. I made a $40/mo sale. Guess which one will stay on the books?

Funeral homes will tell you they can't keep preneed agents. They are working the higher incomes.

Sure it would be nice to only deal with the nicer neighborhoods and be able to cross sell more med sups but then I would have to cross off about 70% of my business. Then we can talk referrals. Almost all of my referrals come from what most would call the "hood".

Agents are always looking for excuses. There's one on here now blaming his appointment setter for the bad business he wrote.

 

[GoCubsGo]

A Western Southern agent is getting a charge back because he sold a lady in public housing a policy she couldn't afford. She made one payment in December but couldn't make the January. I replaced it with one that was less then half. She agreed to an amount higher at first but I pressed her after the ap and POS were done to be sure it could fit in her budget. She said it will be tight so I talked her into a lower amount. Now it has a better chance of not lapsing. Something is better then nothing. She got excited after that saying now she has something "good".

 

[limitless84]

Or they are paid as earned.

----------

Charge-backs come with the territory. If u ever meet a FE agent who says he/she doesn't have charge-backs they're either lying or they don't write any business.

or they are paid as earned.

 

[jdeasy]

Or they are paid as earned.

----------



or they are paid as earned.

Even as earned gets chargebacks. Just smaller.

 

[Rearden]

I agree with you.

Allow me to clarify.

If I had two agents of equal selling prowess -- with one working Rural America, and one dodging bullets on MLK -- I will wager the agent working Rural America will on par do better than the Urban Warrior, due to:

1) A better appointment completion ratio.
2) Better business persistency.
3) Overall better quality of clients

That's why -- after a half-dozen mail drops over 3 years in the 'hood where I live, I have totally moved my marketing campaigns away from there, now more into the Rural Areas -- less drama, better clientele, and more time for me selling.

On the other hand, I think working "Suburban America" can be as much of a struggle as working Urban America, just in a different way.

Bottom line -- new agents have a tremendous learning curve in the FE business. Do yourself a favor; let yourself learn the business in areas that yield better business -- stay out of the ghetto.

I don't agree with that. I don't see the reason new agents fail being where they work. New agents fail at this at over a 90% rate regardless of where they work.

New agents fail because they don't know how to sell, they were fed a bunch of BS about how easy this is and/or they are using FE as a stepping stone to the real riches of insurance.

It's kinda like the argument over what kind of lead to use and what the card should say on it. New agents do need the lead card to do more for them.

I've seen just as many agents wash out that were working the better class neighborhoods as were working the hoods.

The key is not overselling. I just replaced a CL this week that I couldn't beat the price on enough for the lady to change. But she had a $17,000 policy and was going to drop it. I asked her how she arrived at $17,000. She said she really only wanted $10,000 but he kept telling about how funerals were going up and $10,000 wouldn't pay for it. I sold her a $10,000 policy. Now, he made a $75/mo sale. I made a $40/mo sale. Guess which one will stay on the books?

Funeral homes will tell you they can't keep preneed agents. They are working the higher incomes.

Sure it would be nice to only deal with the nicer neighborhoods and be able to cross sell more med sups but then I would have to cross off about 70% of my business. Then we can talk referrals. Almost all of my referrals come from what most would call the "hood".

Agents are always looking for excuses. There's one on here now blaming his appointment setter for the bad business he wrote.

 

[HoosierLife]

I agree with you. Allow me to clarify. If I had two agents of equal selling prowess -- with one working Rural America, and one dodging bullets on MLK -- I will wager the agent working Rural America will on par do better than the Urban Warrior, due to: 1) A better appointment completion ratio. 2) Better business persistency. 3) Overall better quality of clients That's why -- after a half-dozen mail drops over 3 years in the 'hood where I live, I have totally moved my marketing campaigns away from there, now more into the Rural Areas -- less drama, better clientele, and more time for me selling. On the other hand, I think working "Suburban America" can be as much of a struggle as working Urban America, just in a different way. Bottom line -- new agents have a tremendous learning curve in the FE business. Do yourself a favor; let yourself learn the business in areas that yield better business -- stay out of the ghetto.

Yeah but what I think JDs saying is that some folks speak ghetto poor.

I know I do. And there's no reason to dodge bullets on MLK. Just bring your own .

I work some pretty shady areas. There's not a week goes by that I'm watching the news at night and see a story about a murder at some apartment complex...that I had just visited recently.

Maybe some day I'll share my rules for working the urban ghetto.

 

[deadhead]

Yeah but what I think JDs saying is that some folks speak ghetto poor.

I know I do. And there's no reason to dodge bullets on MLK. Just bring your own .

I work some pretty shady areas. There's not a week goes by that I'm watching the news at night and see a story about a murder at some apartment complex...that I had just visited recently.

Maybe some day I'll share my rules for working the urban ghetto.

Once you become gramma's inshorance man you are safe.

 

[HoosierLife]

Once you become gramma's inshorance man you are safe.

It's 'surance man to you!