Final Expense + Aged Leads + Knocking on Doors

[slushpuppyking]

I went to a Lincoln Heritage meeting today and I appreciated their time. As someone new to the industry I'm just soaking all this in. Been reading this forum for almost 2 months now just trying to learn and get advice. I was excited to go to the LH meeting because I wanted to see how everything I've learned would translate today in person. It went FAR better than that NAA recruitment joke of a meeting I went to 3 months ago

So the manager broke down the commission like this:
$50 Premium earns me:
$600-80%=$480x75% upfront-30% for Lead/Chargeback

Equals take home of $252.

That really doesn't sound all that great considering I've read on here if I hookup with Health Choice One they have also same day pay AND maybe I can get over 100%. Plus I assume the leads I don't close are still charged to me. Not sure if that part is correct but let's do some math:

20 leads a week at let's say $25 each is $500. If I close 7 of those I would take home after lead expenses about $1300 or something. Those numbers sound pretty horrible.

But I'm conflicted on what to do. I see suggestions on here for great places to buy leads and can even get them dirt cheap at Stellar Prospects for like $1.25 each. But one thing I really liked about LH was the door to door aspect. I don;t want to be at my house making phone calls. I do agree with the LH guy today when he said you ALWAYS have a better chance of closing a FE deal face to face. If they let you in their home and sit at the table with you to discuss it than you have little excuse for not making a sale if you have sales skills.

Do aged leads include the addresses of these potential customers? I have no problem going to someone's house and saying "Hi Mrs. Jones you filled out an online form for more information concerning FE. The company sent me out here to discuss that with you".

I'm just torn on what to do the more I think about it. As a rookie I see that LH will give me some training, let me follow a producer to learn the ropes, have no upfront lead cost, etc.

But as an independent I would make MUCH more per sale doing the same thing. It's just a matter of do average leads come with the address of the customer? If so I could spend like $150 for 100 leads and have plenty of doors to knock on.

 

[jdeasy]

Re: Final Expense + Aged Leads + Knocking on Doors ...

I went to a Lincoln Heritage meeting today and I appreciated their time. As someone new to the industry I'm just soaking all this in. Been reading this forum for almost 2 months now just trying to learn and get advice. I was excited to go to the LH meeting because I wanted to see how everything I've learned would translate today in person. It went FAR better than that NAA recruitment joke of a meeting I went to 3 months ago

So the manager broke down the commission like this:
$50 Premium earns me:
$600-80%=$480x75% upfront-30% for Lead/Chargeback

Equals take home of $252.

That really doesn't sound all that great considering I've read on here if I hookup with Health Choice One they have also same day pay AND maybe I can get over 100%. Plus I assume the leads I don't close are still charged to me. Not sure if that part is correct but let's do some math:

20 leads a week at let's say $25 each is $500. If I close 7 of those I would take home after lead expenses about $1300 or something. Those numbers sound pretty horrible.

But I'm conflicted on what to do. I see suggestions on here for great places to buy leads and can even get them dirt cheap at Stellar Prospects for like $1.25 each. But one thing I really liked about LH was the door to door aspect. I don;t want to be at my house making phone calls. I do agree with the LH guy today when he said you ALWAYS have a better chance of closing a FE deal face to face. If they let you in their home and sit at the table with you to discuss it than you have little excuse for not making a sale if you have sales skills.

Do aged leads include the addresses of these potential customers? I have no problem going to someone's house and saying "Hi Mrs. Jones you filled out an online form for more information concerning FE. The company sent me out here to discuss that with you".

I'm just torn on what to do the more I think about it. As a rookie I see that LH will give me some training, let me follow a producer to learn the ropes, have no upfront lead cost, etc.

But as an independent I would make MUCH more per sale doing the same thing. It's just a matter of do average leads come with the address of the customer? If so I could spend like $150 for 100 leads and have plenty of doors to knock on.

LH is a pretty bad deal for the writing agent. It's a boon for the already established agents in your area.

I believe the other one you mentioned is parker and Asses. LH is far better tan them. Why do you think Parker and Asses have to keep changing their name?

If you can get leads for less than a dollar a piece I would like to have some of that action.

 

[Newby]

Re: Final Expense + Aged Leads + Knocking on Doors ...

LH has been very good for me.

Bless you Slushpuppyking for all you are about to do.

 

[xrac]

Re: Final Expense + Aged Leads + Knocking on Doors ...

Talk to Frank or Hoosier Daddy.

 

[Hopwood04]

Re: Final Expense + Aged Leads + Knocking on Doors ...

Don't waste your time on Lincoln Heritage. Go to your local Craigslist website and look under jobs and you will find many FE opportunities. Watch out NAA advertises on there too!

 

[Mark]

Re: Final Expense + Aged Leads + Knocking on Doors ...

Don't waste your time on Lincoln Heritage. Go to your local Craigslist website and look under jobs and you will find many FE opportunities. Watch out NAA advertises on there too!

Your Joking right?

Go to Craigslist to look from an IMO or an Insurance Job?


Lmao! Your Joking Right?

 

[arnguy]

Re: Final Expense + Aged Leads + Knocking on Doors ...

No, I think he is serious, Mark!

 

[Hopwood04]

Re: Final Expense + Aged Leads + Knocking on Doors ...

Not that I have ever found a job on Craigslist but there are a lot of IMO's posting on Craigslist these days! NAA advertises final expense and Mortgage insurance sales positions on there all the time.

 

[ActingBoss]

Re: Final Expense + Aged Leads + Knocking on Doors ...

I went to a Lincoln Heritage meeting today and I appreciated their time. As someone new to the industry I'm just soaking all this in. Been reading this forum for almost 2 months now just trying to learn and get advice. I was excited to go to the LH meeting because I wanted to see how everything I've learned would translate today in person. It went FAR better than that NAA recruitment joke of a meeting I went to 3 months ago

So the manager broke down the commission like this:
$50 Premium earns me:
$600-80%=$480x75% upfront-30% for Lead/Chargeback

Equals take home of $252.

That really doesn't sound all that great considering I've read on here if I hookup with Health Choice One they have also same day pay AND maybe I can get over 100%. Plus I assume the leads I don't close are still charged to me. Not sure if that part is correct but let's do some math:

20 leads a week at let's say $25 each is $500. If I close 7 of those I would take home after lead expenses about $1300 or something. Those numbers sound pretty horrible.

But I'm conflicted on what to do. I see suggestions on here for great places to buy leads and can even get them dirt cheap at Stellar Prospects for like $1.25 each. But one thing I really liked about LH was the door to door aspect. I don;t want to be at my house making phone calls. I do agree with the LH guy today when he said you ALWAYS have a better chance of closing a FE deal face to face. If they let you in their home and sit at the table with you to discuss it than you have little excuse for not making a sale if you have sales skills.

Do aged leads include the addresses of these potential customers? I have no problem going to someone's house and saying "Hi Mrs. Jones you filled out an online form for more information concerning FE. The company sent me out here to discuss that with you".

I'm just torn on what to do the more I think about it. As a rookie I see that LH will give me some training, let me follow a producer to learn the ropes, have no upfront lead cost, etc.

But as an independent I would make MUCH more per sale doing the same thing. It's just a matter of do average leads come with the address of the customer? If so I could spend like $150 for 100 leads and have plenty of doors to knock on.

Disclaimor:

I'm an Indy but my main contract is with LH. I am just an agent, not a manager or a recuiter, and have nothing to gain from this post.

You will be bombarded (as you already have) on this post by sophomoric, juvenile, spastic comments/posters who have nothing but contempt for LH, the Londens, and anyone who's contracted with or works for them...this should bother you not in the least.

Here are the plain, unvarnished truths:

Lincoln is not the cheapest or the most expensive carrier for FE......it will very, very infrequently matter either way.

Your success (or lack of it) will in large part, outside of your own efforts of course, be determined by the agency you contract with. Most LH agencies will 85% you after 20 apps.....they did me.

The agencies with Lincoln are, in large measure, top flight. The training, all of it, is free, direct, valid, on-point, and without fluff or embellishment, and in my Agency's case, done by men and women who are multi-millionaires still active in the industry.

If you are young/inexperienced do not try to do this on your own....get an LH (or whomever) contract and be a sponge....Young and Indy=failure.

LH's leads are no better or worse than the others, but buying aged leads is fruitless.....you'd be better off doing door to door surveys, which are both free and an invaluable source of experience.......if you can stand the failure component, which is measurable.

In your breakout above, you're missing something....what I can tell you is this:

On a FE sale of $50/month from a checking account:

I earn $600 x .85% = $510

x .75

= $382.50 (forget about lead costs and chargebacks for now, just to gather the math and be able to project.

7 deals out of 20 leads ($500 spends in your example)

x $382.50

= $2677.50 in income in one week (presuming you'd buy your above 20 leads in one week)

x 4.33 weeks in a month

= $11593/month.....$139122 per year

on a lead cost of:

$500 weekly in leads x 4.33 weeks/month =$2165 spends

Think clearly on this for a minute..........if you close 7 in 20 you'll clear, under our assumptions, $9428 per month.

There are some other things to consider:

not every deal will be $50/month....my average policy is $45, and I've been with LH since July of 2010

not every deal will be paid by checking account......advances will be lower when they aren't

not every deal will be first day coverage....some will be 2 year Mods, etc..........advances will be lower when they aren't

not every deal submitted to underwriting will close, obviously

you will have NTOs and if your recruiter didnt mention that its not a big deal, I don't have many and you won't, either if you do it right

you will have lapses often and early......its the nature of the beast in FE......don't get excited about it (like I did)...and
my persistency %s are at 92 and 90, respectively

LH WILL write deals on first-day that others won't.

97.5 of my deals submitted to LH close on an as-submitted basis.

What you will discover very, very quickly is this:

TV leads are best

door knocks are tougher ( I still struggle with this daily....get on them immediately after you buy them and knock on the door)

Delivering the policies will prove an invaluable method of both maintaining persistencies and generating referrals....if you do it right, you won't even have to ask for referrals...so very few agents deliver policies customers really, really appreciate it when you do.

Involve a value-added in your presentation...I offer free Will Kits and Power of Attorneys with mine........very few of the folks you will see will have either or even have thought about it.

Have a short memory...whether yesterday you wrote 15 deals or talked to no one at all.....tomorrow act like whatever happened today didnt

In the end, you'll find out real quick what they're really buying is you......the product behind it is important, true, but the real issue is you.

When I started with my local LH agency, the trainer there told us all, in very clear, factual, real-life terms, that the first year and a half the business will test you.........if you can make it thru that, you'll be fine, but keep a level head, realize at times (if you're like the rest of us mortals) you will struggle........but keep your processes pure, don't be afraid to be told no, have a short memory and a clear focus.

If you'd like more, email me off-board.....Lincoln's not popular here (not that I care one whit) but I don't want this thread to degenerate into any further silliness by adding forum back-and-forth.

Best wishes.

 

[billberry12]

Re: Final Expense + Aged Leads + Knocking on Doors ...


[FONT="Verdana","sans-serif"]"Have a short memory...whether yesterday you wrote 15 deals ortalked to no one at all.....tomorrow act like whatever happened today didn't."[/FONT]

I have been in this business eleven years. That is the best one line of advice I've heard in a long time.