FE - Shady Niche? Advice..

[bboman23]

1st, ignore any marketers that PM you, they have something to hide and can't be trusted. The reason they don't comment on the open Forum is because they know the experienced agents will call them on their BS and low contracts.

If you get offers through your e-mail, run them past the Forum, that's one of the functions of the Forum.

Final Expense is where the quick money's at, Medicare Supplements are where the long term money's at. If you go the Med Supp route, Final Expense is a nice tie in and allows for not only cross selling FE, but other ancillary products too.

If you want to talk to somebody that'll give you an honest opinion and shoots straight, contact Ben Boman. He specializes in FE and also has Med Supps. Insurance Forums - View Profile: bboman23

Good luck and welcome to the Forum.

Thank you for the shout out!

Feel free to reach out to me and I can give you some advice.

[email protected]

 

[goillini52]

How about the opioid epidemic? Big Pharma is poisoning America and all they want to do is point fingers at the the Taliban and Mexican drug cartels. Gee, I wonder why? But not too many people who pick on other industries would turn down a well paying job with them, would they?

I don't know if I could be another Jim Bakker or Jimmy Swaggart. Especially if I had to look at Tammy Faye's clown face every day...may she rest in peace.

 

[Prtzl]

Thanks for the input.. I hadn't considered MS until you brought it up. The leads in FE are something I did not know existed. I assumed there would be a fee but when I read peoplpe making 200K but spending 70K on leads -- wow!

I knew charge backs would be inherent but it seems there's a high turn over rate for customers.

Anyway.. appreciate the food for thought..

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No loose 10K here. Appreciate the time.

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Awesome - I'm still in the beginning stages - so much contradictory info from "seasoned gurus" - Not knocking anyone, I like to hear everything. Good luck as well!

 

[bboman23]

Thanks for the input.. I hadn't considered MS until you brought it up. The leads in FE are something I did not know existed. I assumed there would be a fee but when I read peoplpe making 200K but spending 70K on leads -- wow!

I knew charge backs would be inherent but it seems there's a high turn over rate for customers.

Anyway.. appreciate the food for thought..

It seems you've been talking to the wrong people. If you write the correct companies and use SS billing you'll only lose about 10%.

You CAN spend 70k on DM but 99.9% of agents here don't. And an agent spending 70k should be hitting 350k range.

 

[LostDollar]

Thoughts for a Newbie considering a career change to FE?

This is a strictly personal opinion which I am not going to try to defend in any way. There are 2 or 3 things settling down in my mind about final expense-my first choice is below.

After watching a lot of threads pass by, If I got an insurance license and if i wanted to consider selling final expense, I would talk with Newby about selling final expense at a funeral home.

 

[jdeasy]

This is a strictly personal opinion which I am not going to try to defend in any way. There are 2 or 3 things settling down in my mind about final expense-my first choice is below.

After watching a lot of threads pass by, If I got an insurance license and if i wanted to consider selling final expense, I would talk with Newby about selling final expense at a funeral home.

While that could be a good choice, that is not the same thing as selling FE. Probably many of the agents selling preneed from a funeral home are also selling some FE? Many refuse to sell FE.

And in some states you have to be a licensed funeral director to sell preneed plans.

 

[Prtzl]

FE can be a great career choice or it can be a terrible choice. A lot of that depends on you but a lot depends on who you work with.

I'm going to disagree with Doug about the previous sales experience. What I've seen over the years is that people with prior sales experience come in behind the 8 ball because they so much to unlearn.

Selling FE is different than any other sales. Including other insurance sales. Selling FE is about learning the market and understanding the market.

The real problem with that is most of the companies in the FE arena don't understand the market either. So you can't get company training.

Most of the IMO's view FE as a sideline so they can't help.

Anyone you are looking at to contract under just ask them a simple question, are you actively selling FE now? If the answer is no then move on. If the answer is , yeah, back in the day, move on.

If the answer is yes. Ask how much they are selling and ask for proof. No proof, move on.

Once you think you have decided then ask to talk to some of their producers. Not fellow uplines or trainers. The producers of that IMO. That's where the truth comes from.

Can a person come into FE and make $100K after expenses in their first year? Yeah, it's happened. But it's pretty damn rare and it's not something to count on happening.

Another thing to watch out for, if there is even a hint of you recruiting now or in the future don't just move on, run away!

Scott has done a very good job of putting free content at fexcontracting.com.

I would recommend spending some time reading that free content before contacting any IMO and getting serious. You may very well read that and decide FE is not for you? It's good to learn that now if so.

And no matter which way you decide to go, a release upfront is mandatory. If you talk to any IMO that balks at that and you continue the conversation then shame on you. The release if your protection in the event you make a wrong choice.

There's some agents with FEX now that can't write certain companies because they chose wrong previously and are stuck in contracts with their other IMO.

Having to be released from a contract you never signed is one of the dirtiest secrets of this business.

Yes, I'v learned there's dirty tricks in this field.. Kinda weird considering this business is all about "helping" people.. $ trumps all-I guess.

Seems MS is a good route.. But I don't know. Truthfully, I get confused..

Appreciate the input.

 

[LostDollar]

While that could be a good choice, that is not the same thing as selling FE. Probably many of the agents selling preneed from a funeral home are also selling some FE? Many refuse to sell FE.

And in some states you have to be a licensed funeral director to sell preneed plans.

(One of the other things in the top 3 was to talk with you a bit.)

Ok, I see there's a lot I don't know. It's just that the windshield time you and sprinkbokh and agentguy5 imply would likely be quite difficult for me.

 

[goillini52]

(One of the other things in the top 3 was to talk with you a bit.)

Ok, I see there's a lot I don't know. It's just that the windshield time you and sprinkbokh and agentguy5 imply would likely be quite difficult for me.

There's always telesales LD.

 

[Prtzl]

If you want an industry devoid of scams and enjoys a stellar reputation, you could always get a job on Wall Street. I mean, if you had an opportunity to make big bucks doing that, would their "ethics" even cross your mind?

Yes... I would not build wealth on dirty money. For the record, I'm not saying the FE industry is corrupt. I am surprised at the level of under handed tactics by some Agency's.. Obviously no industry is clean - My journey will continue..

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Another would be T.V. Evangelism. I can't recall any scams or unethical happenings in that industry.

Interesting.. seems as though I'v ruffled some feathers - I'll pass on being shady regardless of the industry.