Family First Life

[HoosierLife]

I don't understand why you guys keep asking this person how much he's been paid when he's already told you he's on a 100% contract? Are you that stupid or did you just start in insurance last week? We all know if you're on a 100% contract you get paid 100% of premium annualized over the advance months which are typically 9 unless you specifically chose less months to start getting paid residual sooner. Hello? McFly? The math isn't difficult. The real question is, what was your lead cost as opposed to pocketed earnings? I know several agents working at FFL who are all grossing over 200K as first year agents but they're all spending 50K to 80K on leads. Still not a bad net earnings.

That was always my goal when I was in the field.

I'd write $180-$200k off of $50-$60K a year in leads.

And I worked 3 days a week from 10-4pm lol.

Appointment setters are worth it IMO.

Worth their price in gold. Hard to find a good one.

Automation and A.I. are great, they'll help and grab a lot of the low hanging fruit, but nothing beats a person on the phone.

 

[HoosierLife]

$80,000 on leads and assuming they pay $30 each will get them 2667 leads. $200,000 AP and average sale is $600AP equals 333 sales. 333 sales from 2667 leads is a 13% close ratio. Well below average.

Time value of money. I closed around that and made decent money, but had time to do what i wanted, to build, and hang with the family more.

 

[HoosierLife]

So, you know for a fact he is on 100% with those particular companies? And that he gets 9 months advance.. You are really more brilliant that any of the other folks posting here. I had not seen him address those issues for fact. However, most of us know that FFL has a 140% contract but they pay that on very few companies.. Most pay less.. Would it not be reasonable to assume the same is true of a 100% contract.. But then, I haven't been in the business very long myself. So, I will ask you since you know.. How much has he been paid on those cases?

If they're at 100% with FFL, it's 80-90% for most FE products.

 

[Fire]

Few talk about quality of life. If there's no end game like recruiting or selling medicare with great renewals your a hamster on a wheel for life.

 

[Cornelius]

Few talk about quality of life. If there's no end game like recruiting or selling medicare with great renewals your a hamster on a wheel for life.

Also Integrity Deal of a potential buy out.

 

[HlthLfeMdcrSales]

Your calculations are flawed. If you're on a 100% contract you're earning 100% of the annualized premium. This means if you write 500,000 annually you're earning 75% of that amount upfront advanced as 9 months then receiving the remaining amount in as earned throughout the remaining months 10, 11, and 12. So you would've been advanced 375,000 over a 9 month period then paid as earned in the remaining 3 months. If you're spending 80,000 on leads and receiving at least that 375,000 in an advance throughout the year, you're still cash flow positive 295,000.

 

[HoosierLife]

Your calculations are flawed. If you're on a 100% contract you're earning 100% of the annualized premium. This means if you write 500,000 annually you're earning 75% of that amount upfront advanced as 9 months then receiving the remaining amount in as earned throughout the remaining months 10, 11, and 12. So you would've been advanced 375,000 over a 9 month period then paid as earned in the remaining 3 months. If you're spending 80,000 on leads and receiving at least that 375,000 in an advance throughout the year, you're still cash flow positive 295,000.

Well remember, they're not usually getting 100%.

With FFL, 100% is only for a few Mortgage Protection products. The Fe products are 10-30% lower.

You're also not taking into account chargebacks.

And when you're writing that much business, you have little time for conservation. And if you take time for conservation, you're adding a ton of extra work a week.

 

[Newby]

I don't understand why you guys keep asking this person how much he's been paid when he's already told you he's on a 100% contract? Are you that stupid or did you just start in insurance last week? We all know if you're on a 100% contract you get paid 100% of premium annualized over the advance months which are typically 9 unless you specifically chose less months to start getting paid residual sooner. Hello? McFly? The math isn't difficult. The real question is, what was your lead cost as opposed to pocketed earnings? I know several agents working at FFL who are all grossing over 200K as first year agents but they're all spending 50K to 80K on leads. Still not a bad net earnings.

Because at most IMOs if you are on a 100% contract it means you multiply your annual premium X 100% and that is the commission you get paid during the first year on that case.
But at FFL it is 100% in name only. With most of the FE carriers you are paid much less. You really only make like 80% on their "100% level" on most of your FE carriers. So if you average $4,000 weekly you are going to make $800 per week less or $42,000 per year less with an IMO that does that than going with an IMO that pays a real 100%.
That just seems like a horrible way to start off your relationship with all your new agents. As soon as they sell their first case they find out you over promised and under delivered. Then you have to try to convince them that all the other IMOs do that. Then they ask around and find out that's not true.
Not a good start to a relationship.

 

[Tony Hardwick]

I'm on a 90% contract. Those sales brought me just under $2K. I have spent around $300 on leads. I'm only doing this part time. My main focus will be real estate once I take my licensing exam.

 

[Tony Hardwick]

Each carrier I write with pays a different % according to my % with FFL. For example, at my 90%, a sale with AIG would bring me 75%.