Federal / Postal Market

[midwestbroker]

Are there any agents serving this market?

I have an opportunity to start in with this market...I have been serving the senior market since 2006 and with all the new rules, regulations, etc I think I need to broaden my portfolio...

I spoke with a FMO and all seems on the up and up, but before I sign the dotted line, I would like to see what the market it like.

This FMO focuses on the postal employees and does preset appointments, which I like since I have no contacts in the postal system.

Thanks

 

[arnguy]

Back in March, "dfielder" posted in the thread titled "Annuity Prospecting System" that he was putting together a training program for agents interested in working this market. In other posts on the same thread he indicated that this market is doing quite well. Some agents complained in that thread that they have not heard anything back from "dfielder" and that there is no contact information for him. I checked his bio and indeed there is contact information,viz., his website: www.fedbenefits.net. He is located in St. Louis, MO and owns an agency that caters to the Federal market. Midwest, is that the FMO you have been in touch with?

Some years ago I worked the Fed market through Globe Life Insurance. It was pretty good except for the fact that the agency manager was a sleaze bag. I had heard that this guy at one time trespassed into the Social Security Field Office in Philadelphia and was escorted out in handcuffs.

 

[midwestbroker]

Thanks for the reply...

This is a different agency...EIS (Employer Information Service or something like that) out of Dallas. They use Colorado Bankers for some stuff, and I am not sure who else they use.

I have spoke with the agency manager over my area and he seems like a decent guy. They offer a draw against commission type program. I put the pencil to paper on it and it is decent.

 

[somarco]

A buddy of mine worked this market years ago pushing mostly GPM life. He was doing FEGLI conversions mostly and some pension max. He also had a deal with some carrier (don't recall who) for STD.

This was before 9/11 and anthrax scares. He would go to the front desk, ask for the PM then be escorted back into the workers area where he had free reign to talk to anyone who would listen.

Made decent money. Doubt they do much on premises marketing any more.

 

[Mr. Bill]

Tom Marshall used to do this gig, it was one of those "I guarantee you'll earn an extra $100,000 this year" things and now, he's pushing college funding. Go figure.

 

[Bob_The_Insurance_Guy]

There was a guy from Madison National that stopped by and explained it to us (through an FMO I was with at the time). I signed up, went on two appointments, and was going to go back to collect the final forms from the two folks, but the FMO and Madison National ended their relationship before I could.

It was a fair Life Insurance Policy with an Annuity built in. Not a great deal, but you could then cross sell.

That lady who works second shift at the Main Post Office in Atlanta is probably still waiting for me.

 

[somarco]

That lady who works second shift at the Main Post Office in Atlanta is probably still waiting for me.

Not really.

I went by to see her. Told her I was the REAL Bob Levine and that other guy was an imposter.

 

[M*R]

Can someone explain what the Federal/Postal Market is? When entering this discussion, I thought it was regarding the opportunity or market for life insurance sales to Federal and Postal service employees, but it does not seem to be.

 

[Bob_The_Insurance_Guy]

Not really.

I went by to see her. Told her I was the REAL Bob Levine and that other guy was an imposter.

Thanks, #1. I don't feel too comfortable going to Cleveland Avenue too often.

 

[The Hunter]

Federal employees have a 5 year increasing term group policy ,that reduces to a very small amount of coverage after they retire.