FE Target Market

[wajiha]

I work in MD, what would be an ideal target market for Final Expense insurance, both age wise and income wise. (yes, Im new in this).

 

[JimmyUt]

I work in MD, what would be an ideal target market for Final Expense insurance, both age wise and income wise. (yes, Im new in this).

55 to 78
15k to 60k income.
Direct mail demographics are not perfect, so you will get ages both lower and higher as well as income.

 

[wajiha]

Thanks! lemme see how it works!!

 

[Rearden]

0 to 50k, 50 to 80.

Drive through the neighborhood before blowing a couple grand on bad mail drops.

 

[wajiha]

Oh Yeah, thanks for the tip!! Being in P&C, my experience is not good at all for mail drops and I dont believe in spending heck of money there and dont see any results...plus you dont have any control over people who you are sending it to except for sending another mail piece, which is insane

 

[houcoogster]

Can somebody explain something for me here....Why is that all of the big final expense outfits that were big 5, 10, 15, years ago are all washed out? What is it about FE that this stuff happens time and time again. If you look at how big EFES has gotten recently one can only wonder are they headed for the same fate of a say Parker & Assoc?

I'm just curious as to why it seems to work this way.

 

[Newby]

Can somebody explain something for me here....Why is that all of the big final expense outfits that were big 5, 10, 15, years ago are all washed out? What is it about FE that this stuff happens time and time again. If you look at how big EFES has gotten recently one can only wonder are they headed for the same fate of a say Parker & Assoc?

I'm just curious as to why it seems to work this way.

My theory is that these companies start out with a guy with a vision and history of success. As they get bigger and bigger, you get further and further away from that.

 

[captain94]

Can somebody explain something for me here....Why is that all of the big final expense outfits that were big 5, 10, 15, years ago are all washed out? What is it about FE that this stuff happens time and time again. If you look at how big EFES has gotten recently one can only wonder are they headed for the same fate of a say Parker & Assoc?

I'm just curious as to why it seems to work this way.

Park & Assoc downfall was getting out of FE and into the MA market. Now they are back in the FE with a new name.

 

[VolAgent]

Can somebody explain something for me here....Why is that all of the big final expense outfits that were big 5, 10, 15, years ago are all washed out? What is it about FE that this stuff happens time and time again. If you look at how big EFES has gotten recently one can only wonder are they headed for the same fate of a say Parker & Assoc?

I'm just curious as to why it seems to work this way.

In a word, greed. These companies are built on greed. "Make 5k working 2 days a week!"

Well, the agency starts to get bigger and suddenly managers and ownership is seeing 5, 10, 15 million in FYP going through the agency. Of course they are only seeing a fraction of that as most of it goes to the agent as FYC. So they start thinking about how to get a bigger piece of the pie.

Then the recruiting pyramid starts, higher lead costs, assigning commissions, keeping commissions low for newer agents, etc.

 

[smokin goose]

In a word, greed. These companies are built on greed. "Make 5k working 2 days a week!"

Well, the agency starts to get bigger and suddenly managers and ownership is seeing 5, 10, 15 million in FYP going through the agency. Of course they are only seeing a fraction of that as most of it goes to the agent as FYC. So they start thinking about how to get a bigger piece of the pie.

Then the recruiting pyramid starts, higher lead costs, assigning commissions, keeping commissions low for newer agents, etc.

What does assigning commissions mean?