Are the Big Companies Our FE Competition?

[LonghornMark]

Newby said something on another thread that got me thinking. Keep in mind I'm new. My question is, do we compete against the allstates, state farms, farmers, etc. for final expense business? Is it something they do or can do? Some people I talk to are dead set against moving insurance elsewhere. They like the whole bundle idea with one company.

 

[rousemark]

Newby said something on another thread that got me thinking. Keep in mind I'm new. My question is, do we compete against the allstates, state farms, farmers, etc. for final expense business? Is it something they do or can do? Some people I talk to are dead set against moving insurance elsewhere. They like the whole bundle idea with one company.

Generally speaking the "Big" companies aren't your FE competition. Most do not have the appropriate products and underwriting.

 

[jdeasy]

Newby said something on another thread that got me thinking. Keep in mind I'm new. My question is, do we compete against the allstates, state farms, farmers, etc. for final expense business? Is it something they do or can do? Some people I talk to are dead set against moving insurance elsewhere. They like the whole bundle idea with one company.

No, they are not competition in the sense that we can't beat them. They are your competition in that they know about them and they don't know about you.

 

[LonghornMark]

Thanks guys. I think it would probably be a good idea if your hometown agent knew and trusted you. I'm sure he/she could refer some business your way.

 

[rousemark]

Thanks guys. I think it would probably be a good idea if your hometown agent knew and trusted you. I'm sure he/she could refer some business your way.

It is not necessarily teh captive agents like State Farm that will give you referrals but the Independent Agents who concentrate on P&C and do not bother with FE, I just received a nice referral from an Independent Agent that will result in about $2600 commission next week. Would have been yesterday but I have been fighting a flu bug this week.

 

[LonghornMark]

It is not necessarily teh captive agents like State Farm that will give you referrals but the Independent Agents who concentrate on P&C and do not bother with FE, I just received a nice referral from an Independent Agent that will result in about $2600 commission next week. Would have been yesterday but I have been fighting a flu bug this week.

Wow, that is awesome. That would be more than I make in a month at my old job. Good advice too!

 

[Rearden]

Your only competition is you.

 

[pcbinsurance]

Wow that's deep Reardon....and true.

 

[TDFnCali]

Your only competition is you.

Then I SUCKASS, lol!

 

[NCLS.us]

Newby said something on another thread that got me thinking. Keep in mind I'm new. My question is, do we compete against the allstates, state farms, farmers, etc. for final expense business? Is it something they do or can do? Some people I talk to are dead set against moving insurance elsewhere. They like the whole bundle idea with one company.

Newby is the man!

My two cents is that I would think that ALL the companies (agents) are competition IF the client is in good health and can qualify. IF they have issues, then FE companies are tailored for that business. (Is that what Newby said?)

Disclaimer: I'm not an FE specialist. I certainly defer to those who are - many experts on this board for whom we are greatful for sharing their knowledge!