Avergage Comm. in Final Expense ?

[Todd Preston]

Hi Friends,

Forgive a Newby for asking a simple question...i'm not even sure there is a definate answer BUT

I'm a brand new licensed agent in Fla. and was trying to get an idea on how much FINAL EXPENSE co's are paying these days. I'm gonna keep my day job and do this PT until i get moving and figure where i fit in.

On average i was hoping for some answer to the following:

1. I WAS HOPING someone would be so kind as to tell me how much avg. comm. are when selling a Final Expense Plan.
2. Aprox. how much do they advance you and when?

...sure do appreciate the input.

thanks!

 

[tins]

Hi Friends,

Forgive a Newby for asking a simple question...i'm not even sure there is a definate answer BUT

I'm a brand new licensed agent in Fla. and was trying to get an idea on how much FINAL EXPENSE co's are paying these days. I'm gonna keep my day job and do this PT until i get moving and figure where i fit in.

On average i was hoping for some answer to the following:

1. I WAS HOPING someone would be so kind as to tell me how much avg. comm. are when selling a Final Expense Plan.
2. Aprox. how much do they advance you and when?

...sure do appreciate the input.

thanks!

1) I've heard many times that it will average out to around $40-50/month premium for the average FE case. Obviously, individual cases will vary, greatly.
2) There is no average on this. It will be up to whatever the agent and upline work out. Nothing is set.

 

[HoosierLife]

Average $50/mo in AP. Say 100%+ comp at 9 mo advance = $450 in commish up front.

 

[jdeasy]

Hi Friends,

Forgive a Newby for asking a simple question...i'm not even sure there is a definate answer BUT

I'm a brand new licensed agent in Fla. and was trying to get an idea on how much FINAL EXPENSE co's are paying these days. I'm gonna keep my day job and do this PT until i get moving and figure where i fit in.

On average i was hoping for some answer to the following:

1. I WAS HOPING someone would be so kind as to tell me how much avg. comm. are when selling a Final Expense Plan.
2. Aprox. how much do they advance you and when?

...sure do appreciate the input.

thanks!

Hard to figure on the average but EFES have over 1000 agents contracted and the average monthly premium there is $40.

So $480 annual. What's your commission? At 100% then a 9 month advance would be $360.

Some companies used to do a 100% advance. Forethought and 5 Star come to mind. I don't know if they still do that or not.

But knowing the average is about as useful as knowing a major league player's batting average.

 

[rousemark]

Hard to figure on the average but EFES have over 1000 agents contracted and the average monthly premium there is $40.

So $480 annual. What's your commission? At 100% then a 9 month advance would be $360.

Some companies used to do a 100% advance. Forethought and 5 Star come to mind. I don't know if they still do that or not.

But knowing the average is about as useful as knowing a major league player's batting average.

Only useful if you are the opposing manager trying to decide whether to pitch to him or not?

 

[DecisionMan]

Averages are helpful for benchmarking oneself to industry best practices.

You only get what you track.

 

[HoosierLife]

Averages are helpful for benchmarking oneself to industry best practices.

You only get what you track.

Yeah everyone always told me that $50 was the average. My average is $47. Close enough for maths sake.

 

[Ryan Caras]

I just ran our averages for July and it is right at $56.74 per month nationwide

 

[WinoBlues]

I just ran our averages for July and it is right at $56.74 per month nationwide

That probably is an important factor. Average premium in Arkansas vs California. Or even Urban vs Rural. Cost of living and incomes are very different.

 

[Ryan Caras]

That probably is an important factor. Average premium in Arkansas vs California. Or even Urban vs Rural. Cost of living and incomes are very different.

you may very well be right, I would have to analyze specific regions but in my 8+ years of doing this it at my end it has always ranged around 550 - 650 annually... no matter where the agent is...