Door To Door In Delaware

[gerano]

The first six years of my career were in life sales (The Equitable and Metropolitan Life) to families. I enjoyed it but I found favor with group health sales which then allowed me to sell life plans to the employer and his employees after the installation of the group health plan. I loved it. As a matter of fact, I loved it so much that I even moved to Delaware in 1990 because of the exodus by group health carriers and group trusts after small group reform in the states of New England. I did well in Delaware but then Delaware introduced small group reforms and, again, many of the small group (under 100 employees) carriers left Delaware. Still, I did well. Until the general election of 2008. In 2010 I decided to vacate group and individual health sales and focus on Buy-Sell Agreements. I did alright but central Delaware is a very small and agrarian community with an average group size of only 8 employees. I had read that final expense sales was a great market so I contracted with good quality carriers but tried to generate leads in the quantities indicated by the lead companies. I had read that a 4% to 6% return rate was common and if I could get 40 to 60 leads from a mailing of 1,000 cards then that would be a great start. I have, however, discovered that a rate above 1.1% was the highest that I could expect from this area. I've tried SEVERAL lead companies yet 1% was all that I could expect. I recently tried a lead program from one of my carriers after hearing that they were achieving numbers well above industry norms. The disappointing fact was that after a mail drop of 3,300 at a cost of $1,100 all I received were 17 final expense leads and the leads were the worst ever. I've never wasted so much time in shanties, shacks, and weathered trailers. I had requested a minimum income of $30,000 but apparently that didn't matter to the lead folks. The incomes of the people that returned the cards were well under $12,000 annually. In any case, I'm learning with every step that I can not rely on lead generators. I enjoy knocking on doors but I must learn from others what works best. I'm still a jacket and tie agent and I find it hard to go without the jacket but I'm discovering that the mere presence of a tie means that I'm rich.

Though it's been many years, I've always enjoyed door knocking even when I was a kid selling vacuum cleaners door to door at night. I would just like quality leads. It worries me that these people are barely meeting their monthly expenditures. I've always had a persistency in excess of 90% and I don't want to see any lapses. I'd just like better quality leads or a better market. I do believe that Medicare Supplement leads would produce better quality leads but, again, I'm still only averaging .9% (under 1%) on the return of cards. I plan to leave Delaware soon but while I'm here...

 

[Newby]

The first six years of my career were in life sales (The Equitable and Metropolitan Life) to families. I enjoyed it but I found favor with group health sales which then allowed me to sell life plans to the employer and his employees after the installation of the group health plan. I loved it. As a matter of fact, I loved it so much that I even moved to Delaware in 1990 because of the exodus by group health carries and group trusts after small group reform in the states of New England. I did well in Delaware but then Delaware introduced small group reforms and, again, many of the small group (under 100 employees) carriers left Delaware. Still, I did well. Until the general election of 2008. In 2010 I decided to vacate group and individual health sales and focus on Buy-Sell Agreements. I did alright but central Delaware is a very small and agrarian community with an average group size of only 8 employees. I had read that final expense sales was a great market so I contracted with good quality carriers but tried to generate leads in the quantities indicated by the lead companies. I had read that a 4% to 6% return rate was common and if I could get 40 to 60 leads from a mailing of 1,000 cards then that would be a great start. I have, however, discovered that a rate above 1.1% was the highest that I could expect from this area. I've tried SEVERAL lead companies yet 1% was all that I could expect. I recently tried a lead program from one of my carriers after hearing that they were achieving numbers well above industry norms. The disappointing fact was that after a mail drop of 3,300 at a cost of $1,100 all I received were 17 final expense leads and the leads were the worst ever. I've never wasted so much time in shanties, shacks, and weathered trailers. I had requested a minimum income of $30,000 but apparently that didn't matter to the lead folks. The incomes of the people that returned the cards were well under $12,000 annually. In any case, I'm learning with every step that I can not rely on lead generators. I enjoy knocking on doors but I must learn from others what works best. I'm still a jacket and tie agent and I find it hard to go without the jacket but I'm discovering that the mere presence of a tie means that I'm rich. Though it's been many years, I've always enjoyed door knocking even when I was a kid selling vacuum cleaners door to door at night. I would just like quality leads. It worries me that these people are barely meeting their monthly expenditures. I've always had a persistency in excess of 90% and I don't want to see any lapses. I'd just like better quality leads or a better market. I do believe that Medicare Supplement leads would produce better quality leads but, again, I'm still only averaging .9% (under 1%) on the return of cards. I plan to leave Delaware soon but while I'm here...

You were WAY mislead on returns. 1 to 2% is the norm on FE lead returns for the past 10-years.

If you want to do FE right you need to get with an FE IMO. Get on a lead program where you have a contained cost on a contained number of leads, training and the right company selection. You can do this but you have to learn how to sell to lower income seniors. People with money don't need to insure against $10,000.

Lose the coat and tie and go with khakis and polos.

Take a look around the FexContracting.com website and see if you think we could help you.

 

[gerano]

Newby, I enjoy SOME of the people that I'm meeting and helping as a result of final expense sales but I dislike having to worry about my well-established persistency. I want to meet people with an income of no less than $20,000 and preferably more than $25,000. These are the people for which I've had my best success. They've been buying final expense plans and when I find a good healthy candidate for a fully underwritten plan I'll even invite them to apply for the best of all plans. I'm an old school agent. I still deliver every policy that I sell and I even provide them with a nice policy wallet and their name(s) engraved or embossed on the policy wallet at the time of policy delivery.

I really enjoy the door to door approach. I don't like using the phone, it's not my style and I find it to be counterproductive. I enjoy it whether it be to individual homes or businesses. I am planning a partial return to businesses so that I can meet the people with greater discretionary dollars during the morning hours. I'd like to see seniors in the afternoon and evening but I don't know how seniors will receive me if I stop in on them during the waning hours of the sun.

If you'd like to give me a quick call regarding FexContracting I'd be happy to explain.

 

[WinoBlues]

This is going to be an interesting thread.

 

[goillini52]

This is going to be an interesting thread.

Yep...........damn sleazy door knockers!

 

[Newby]

Newby, I enjoy SOME of the people that I'm meeting and helping as a result of final expense sales but I dislike having to worry about my well-established persistency. I want to meet people with an income of no less than $20,000 and preferably more than $25,000. These are the people for which I've had my best success. They've been buying final expense plans and when I find a good healthy candidate for a fully underwritten plan I'll even invite them to apply for the best of all plans. I'm an old school agent. I still deliver every policy that I sell and I even provide them with a nice policy wallet and their name(s) engraved or embossed on the policy wallet at the time of policy delivery.

I really enjoy the door to door approach. I don't like using the phone, it's not my style and I find it to be counterproductive. I enjoy it whether it be to individual homes or businesses. I am planning a partial return to businesses so that I can meet the people with greater discretionary dollars during the morning hours. I'd like to see seniors in the afternoon and evening but I don't know how seniors will receive me if I stop in on them during the waning hours of the sun.

If you'd like to give me a quick call regarding FexContracting I'd be happy to explain.

If you read through my old posts you will find that you are me a few years ago. I wore a suit and tie every day. I only wanted to work with higher income than the majority of FE agents do. I door knocked all my leads and hated calling for appointments.

Here's where I am now.
1. The suit and tie won't kill you but a khakis and polos are better.
2. I still like a little higher incomes but I run leads now that are targeted to $0-$50,000 incomes. The harder it is for someone to come up with $10,000 cash at the drop of a pin (or a death in the family) the more they recognize the need for an FE policy. Poor doesn't bother me. Disfunctional does. I just cut bait on the dysfunctional ones pretty quick.
3. Even though I hate calling and setting appointments, it is WAY more efficient than drive bys. WAY, WAY more efficient. You will make way more sales by setting appointments. And I'm a good door knocker that enjoys door knocking.

 

[WinoBlues]

If you read through my old posts you will find that you are me a few years ago. I wore a suit and tie every day. I only wanted to work with higher income than the majority of FE agents do. I door knocked all my leads and hated calling for appointments.

Here's where I am now.
1. The suit and tie won't kill you but a khakis and polos are better.
2. I still like a little higher incomes but I run leads now that are targeted to $0-$50,000 incomes. The harder it is for someone to come up with $10,000 cash at the drop of a pin (or a death in the family) the more they recognize the need for an FE policy. Poor doesn't bother me. Disfunctional does. I just cut bait on the dysfunctional ones pretty quick.
3. Even though I hate calling and setting appointments, it is WAY more efficient than drive bys. WAY, WAY more efficient. You will make way more sales by setting appointments. And I'm a good door knocker that enjoys door knocking.

>>Poor doesn't bother me. Disfunctional does.

Love that!

 

[thomasm]

I want to meet people with an income of no less than $20,000 and preferably more than $25,000.

If you want to work with people with a higher discretionary income, and you want to door knock, The easiest approach in your state would be, "Would you like to find out if you qualify for a rate reduction on your Medicare Supplement?"

Here's a break down of how many seniors age 66-75 with incomes of $15,000 and up are in your state:

Kent 14,824
New Castle 43,198
Sussex, 26,134

And here's the best part! Very low MA penetration rates!

Joining Chris Westfall's (DaytonaGuy) site and Rick's (Greensky) site will get you up to speed on Medicare really quick!

Then get with a good upline that knows how to do both Medicare & FE cross-sells.

Keep in mind, you don't have to worry about FE persistency so much when you just saved them $50-$75 a month on their supplement!

 

[gerano]

Yes, it sounds as though we have similar backgrounds. I can get used to the change in "professional" wear. I guess I'm just very disappointed in the many changes that have occurred in our society in recent years. It wasn't long ago when I can remember when a knock on the door brought a response from the dweller. I can remember when a ring of the phone meant a cheerful "hello". It's all very disappointing. I went to JC Penney the other day to purchase some new dress slacks. When I asked what happened to the large selection of men's dress clothes I was told that jeans are the new professional wear. Good grief!

Anyway, It would save me countless hours if I could call the individuals on the 9-11 lead cards received per 1,000 mailed but I know from experience that, generally, they will not answer the phone nor will they call back if I leave them a message. I would hate to burn through those measly 9-11 cards in a matter of minutes by way of the phone and get nothing for my efforts. It's all very perplexing. How are you getting beyond the voicemail? What do you do when you hear "We're sorry. The number you have dialed is not in service at this time"? I'm of the belief that if they can't pay their phone bill then don't waste my time.

Would you mind telling me what it is that you say when you have a live one? Your help would be greatly appreciated.

 

[goillini52]

Yes, it sounds as though we have similar backgrounds. I can get used to the change in "professional" wear. I guess I'm just very disappointed in the many changes that have occurred in our society in recent years. It wasn't long ago when I can remember when a knock on the door brought a response from the dweller. I can remember when a ring of the phone meant a cheerful "hello". It's all very disappointing. I went to JC Penney the other day to purchase some new dress slacks. When I asked what happened to the large selection of men's dress clothes I was told that jeans are the new professional wear. Good grief!

Anyway, It would save me countless hours if I could call the individuals on the 9-11 lead cards received per 1,000 mailed but I know from experience that, generally, they will not answer the phone nor will they call back if I leave them a message. I would hate to burn through those measly 9-11 cards in a matter of minutes by way of the phone and get nothing for my efforts. It's all very perplexing. How are you getting beyond the voicemail? What do you do when you hear "We're sorry. The number you have dialed is not in service at this time"? I'm of the belief that if they can't pay their phone bill then don't waste my time.

Would you mind telling me what it is that you say when you have a live one? Your help would be greatly appreciated.

I know it'd be too much of a change and too soon on your work attire, but one of the biggest FE producers on the Forum wears shorts on his appointments. He's in Texas and it's hotter there, so probably more acceptable. I'd like to try it, but I don't have the legs for it.