E-Financial Pros and Cons

[redsquash]

I'm new to the life insurance, and have been considering going with E-Financial. I have gone through the other threads which provide very valuable info. I still have some confusion:

1) is it true, with e-Financial, the agent (myself) do not get any renewal commission?

2) What is their minimum commission (for the new agent)

3) Do I have to use ALISS?

 

[Medigap]

Their leads are decent although some are generated via email spam campaigns. You can close a good deal of business. If you're going to do it you should definitely take Barry Malloy's training. DO NOT use their back end administration. Do your own paperwork. Their admins are great people but definitely overworked and you'll issue very little business with them overseeing it. I know this is concise but is from experience. You might also consider getting Vicki Gunvalson's training book. It's about $500 but definitely worth it ... even if you don't go with EFinancial but want to do phone sales.

 

[HealthGuy]

Nice - a $500 training book? What?

 

[Medigap]

It's worth it. There are alot of bogus training services out there for much more money $$$. This book is not only training material but scripts, objection handling, auto-responders, tools, processes (comes with an outstanding resource CD). It's exactly what Vicki Gunvalson uses to sell and the methods she trains her agents on and she's fairly successful.

If you're going to pay $1,000's or tens of $1,000's for marketing each year you should ensure you know what you're doing first.

This is just my humble advice. Take it or leave it.

I am not paid for this endorsement.

 

[redsquash]

Thanks for the info.

Do you know if EFinancial pays renewal commission (I'm sure they get from the carrier)? If not, is it standard industry practice?

It's worth it. There are alot of bogus training services out there for much more money $$$. This book is not only training material but scripts, objection handling, auto-responders, tools, processes (comes with an outstanding resource CD). It's exactly what Vicki Gunvalson uses to sell and the methods she trains her agents on and she's fairly successful.

If you're going to pay $1,000's or tens of $1,000's for marketing each year you should ensure you know what you're doing first.

This is just my humble advice. Take it or leave it.

I am not paid for this endorsement.

 

[Medigap]

They pay renewals under our contract for some of the simplified issue products. We work directly with them, though. We honestly found their contracts to be the best available. So, you might not have seen their commission structure or understand it. Give them a call. Couldn't hurt.

 

[JRoot]

There are no renewal commissions on term insurance. Well, at least not the carriers efinancial offers. Commissions % is performance based - they have a matrix to move up in pay scale. Not sure what the first level is - saw it over a year ago - I just know it's below street level.

 

[arnguy]

It's worth it. There are alot of bogus training services out there for much more money $$$. This book is not only training material but scripts, objection handling, auto-responders, tools, processes (comes with an outstanding resource CD). It's exactly what Vicki Gunvalson uses to sell and the methods she trains her agents on and she's fairly successful.

If you're going to pay $1,000's or tens of $1,000's for marketing each year you should ensure you know what you're doing first.

This is just my humble advice. Take it or leave it.

I am not paid for this endorsement.

How much is it on ebay?