Cockroach Infestation -- The Joys of FE Sales

[SportsNut]

I met with a guy Friday who takes twice-a-month injections to keep his RAGE under control. He spent 19 years in a federal pen for manslaughter. He also tried out for Olympic Boxing in the 70s or 80s.

WTH were you trying to sell to him?

Hopefully you didn't make him angry. Wow.

Client: BTW, is my bi-weekly rage injection cover by the Part D plan...? It better be...........

 

[WinoBlues]

Well from my "Exp" (Exp being my MGA/IMO, other agents, things Ive read here & a well known guy whos been in Socal exclusively for 15yrs selling FE & lead sources) Ive been told, dont go after the bottom of the bottom (ppl making less then 10-15k) cause they wont pay the prem. You want ppl who's been say a mechanic all his life, making 25-40k all his life with very lil life ins or none at all (beyond group) and has nothing saved really. They can pay, yet dont have financial planners, etc and arent in a financial position to save anything. If you're in SoCal on $40k with a family, trust me, u dont have much....and I dont mean 40k ea spouse, I mean TOTAL household income!! Im going to stick with that since my IMO has mailed for agents out here before with those #'s.

We'll see!

That is my thinking as well.

 

[TDFnCali]

That is my thinking as well.

Glad Im not alone here....cause as a newbie, being alone is an awful feeling, lol!! Thx Wino

 

[Rearden]

Yup -- those are some of my best clients, too.

Retired/retiring "blue collar" workers in manufacturing-based communities.

That is my thinking as well.

 

[jdeasy]

Well from my "Exp" (Exp being my MGA/IMO, other agents, things Ive read here & a well known guy whos been in Socal exclusively for 15yrs selling FE & lead sources) Ive been told, dont go after the bottom of the bottom (ppl making less then 10-15k) cause they wont pay the prem. You want ppl who's been say a mechanic all his life, making 25-40k all his life with very lil life ins or none at all (beyond group) and has nothing saved really. They can pay, yet dont have financial planners, etc and arent in a financial position to save anything. If you're in SoCal on $40k with a family, trust me, u dont have much....and I dont mean 40k ea spouse, I mean TOTAL household income!! Im going to stick with that since my IMO has mailed for agents out here before with those #'s.

We'll see!

I don't have to wait to see. That is not the FE market. My average client has income of about $10,000 to $12000 per year. Many less than that. I do over 300 FE applications per year and I can count on one hand the clients that make more than $25000 a year.

 

[HomeService]

Wow, you guys are making selling FE NOT sound so promising.

I don't think I could bring myself to set foot inside someone's home if it was obviously a total scroungy filthy bug-laden dump. I would have to come up with an excuse or something.

Does this happen often to y'all?

Yes, I am in the lower to middle income market, so yes.

 

[jdeasy]

That is my thinking as well.

That would be a great demographic to work. It is not the FE market. Even in Ca. I have a friend that does FE there and does almost $200,000 per year ap. He sends me pictures every now and then of his prospects homes or areas where he is working that day. They look exactly like the one work. Only the weather is better!

He recently sent me a picture of a note the guy had nailed, that's right "nailed" to the door to the "insuranc man" saying he couldn't keep the appointment. I sent him one of mine that had an eviction notice on the door when I got there.

That is bare bones truth of the FE market. If people don;t know that going in and are willing to accept that as business as normal they will not make it as an FE agent.

 

[NovaGal]

Yes, I am in the lower to middle income market, so yes.

Ooo. Well I'm licensed for over 3 years, and ready to go & sell... not with an agency or appointed with carriers yet... still looking for the right fit.

What do you do in those situations?!? I would turn my car around and head outta there! I only post this, because I know in the rural areas in my home state there are a fair amount of trailer parks & old run down areas, say, within 60-75 miles of where I live.

As for only the low income folk needing FE... not so sure about that... I think FE is very marketable to anyone - the ease & simplicity of having everything budgeted and paid for when the time comes. You can even go so far as to visit the funeral home of your choice & have it all written out, I believe. Thoughts? Comments?

Thanks.

 

[jdeasy]

Ooo. Well I'm licensed for over 3 years, and ready to go & sell... not with an agency or appointed with carriers yet... still looking for the right fit.

What do you do in those situations?!? I would turn my car around and head outta there! I only post this, because I know in the rural areas in my home state there are a fair amount of trailer parks & old run down areas, say, within 60-75 miles of where I live.

As for only the low income folk needing FE... not so sure about that... I think FE is very marketable to anyone - the ease & simplicity of having everything budgeted and paid for when the time comes. You can even go so far as to visit the funeral home of your choice & have it all written out, I believe. Thoughts? Comments?

Thanks.

The FE market and the Preneed market are different. The preneed market is more middle class. It would be wonderful to only go to well kept homes of the middle class, even the lower middle class, but that is not where the bread gets buttered in the FE market. I wish it were different since FE is just about all I do. I've policies in homes that don't even have a front door. I had to go to a store in a town I was working last year and buy a new pair of pants to finish the day since the ones I left home in were soaking wet from sitting on a water logged coach from an unrepaired roof leak.

But, those are my people!!

 

[TDFnCali]

I don't have to wait to see. That is not the FE market. My average client has income of about $10,000 to $12000 per year. Many less than that. I do over 300 FE applications per year and I can count on one hand the clients that make more than $25000 a year.

Im not saying you're wrong JD, I certainly dont have live exp yet...and Ive written down or took mental notes of a lot of advice on here so far. But I dont think thats the only FE market, cause if thats the case why would equita recommend that for Calif agents who've worked here before AND how is that guy Alan Benedict being doing it here 15yrs & in his training specifically says go after 55-80yr olds & an income of 15-50k...he must know something!!