wburke99
New Member
- 16
Hey BarryNY, I was intrigued by you getting involved with providing Small Business owners with loans. How can I start something like that???
Best Final Expense lead providers?
- Thread starter SpruceBruce
- Start date
- 26,133
Primerica and WFG are the main ones I run into.
- 4,872
Sure that happens. And it happens because the manager doesn't know what he/she is doing as it relates to them running their business. Here's what I do:
_The new agent and I split the lead charge in half for 20 DM leads.
_We work the leads side by side for about 3 days.
_We split whatever we sell. If I sell it we split, if the new agent makes the sell we split
_After 3 days I give the rest of the leads to the agent to work solo to finish their week and they can keep all commissions they make working solo.
The above happens before an agent gets leads on credit with me being the cosigner. This way the agent is trained on what to do, how to do it, and when to do it. Now the new agent feels more confident getting leads on credit (whether they use their credit card or having me cosign for the lead charge to come out of advances 9 days later) and I feel comfortable cosigning for the agent to get leads on credit.
If an agent gets leads on credit with me being the cosigner and they flake out, I still have to pay for the leads since I'm the cosigner.
Lots of managers, if they have an agent struggling, will keep dumping more leads on the agent thinking that more leads is the answer. What the manager should be doing instead is cut that agent off from getting anymore leads because either they re not working the leads or just not cut out for this line of work.
Selling FE is not everyone. Or maybe, just maybe, take that agent out for another day of field training if the agent seems very serious about being successful and is coachable. This is one advantage of working with me. I don't believe brokers provide this type of hand holding which is ok. But this hand holding is what I can provide for agents on my team who work fulltime writing for Sr Life exclusively.
That's pretty good. I don't think LH did anything like that. I think they just kept dumping leads with no co-signer.
Of course, if the manager is able to work those leads, then they probably lose nothing.
You take the agent out for 3 days splitting both, the costs and revenue from 20 leads. Afterwards, you believe the agent should know enough to pay for all his leads, whether they are financed or not, and he should be off and running on his own two feet from there. That is clear and not unreasonable, for an independent agent.
Considering what you said previously about SL starting agents out at 90%, what else does SL, or you as the manager, provide an agent that explains why he should forego the additional 20-40% he could be getting elsewhere, assuming he has the hang of it after 3 days of training?
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- 1,832
How come none of his agents get on this forum and tell everyone how great it is to get that 20-40% reduction in compensation?
- 4,872
This is not all the training my agents get. We have 3 training calls each week, constant communication, and more. I believe the 3 day field training is much more than a lot of the recruiters, especially the ones up here on this forum, will do.
Some agents are better off being independent and some are better off being captive. We have both opportunities available. I have quite a few agent brokers on my team along with full timers who write only with Sr Life. No one is captive at Sr Life. I even have a P&C agent that writes 1-2 applications each month for people who don't qualify for her term offering and also to cross sell Legacy savings to her book of business. I also have a handful of Medicare agents that write with us when their enrollment season is over with each year. They like to introduce their books of business to Legacy savings and plain old burial life insurance.
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- 4,872
I do have agents on my team, right up here on this forum. They met me from this forum. I also have a couple of well know managers/imo's from this forum on my team. They have asked me not to publicize that they are contracted with Sr Life. I thought that part was kinda weird....maybe peer pressure....lol. But I respect their wishes.
The tele-sales agents love the fact that they can get live TV transfers 9am-9pm est Mon-Fri and 9am est -6pm est on Sat.....for only $44 each. What other carriers are doing this to help their agents write some business? Along with no 3rd part interference, script checks are done while on the phone with prospect, even the ability to verify the banking info while on the phone....including if there are enough funds for the 1st draft to clear!
A lot of agents like the simplicity of a one page app, one carrier to deal with, a true zero question GI that starts at age 0 and ends at age 85, group disability, group cancer, dental/vision. They also have group health insurance available but you need to average issuing $50k each month...which is tough without a team. I'm not aware of other carriers offering these things?
- 26,133
ABC
No hate, do you.
No hate, do you.
$44 a lead ? I thought they were $34? Please please don't mention your GI . The pricing is criminal . It's 50-60% more than Gerber or aig's . Many of yours and Lincoln's policys are issued gi . Honestly I run into a few sl every 2 months but tons of LH . I replace 95% of them . Show me 1 of your producer only making 120% on your super preferred. I bet you might have 1-2 . Sl , LH , ail based on recruiting. It's that simple
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