Final Expense As a Career

[Biggin]

The answer, IMHO, to the poster's question is FE can be a good career, but FE has some unique (I would think) issues attendant to it that no other (or at least not many) lines have:

1) higher rate of NTOs, lapses, etc........for obvious reasons

2) your clients need constant massaging after the sale......drop-ins, small notes written to say thanks, postcards for no other reason other than to say thanks.......you must keep your name in front of them long after the sale on a much more frequent basis....otherwise they'll lose their fire after the sale and spend it foolishly on material goods

3) they will also give you more referrals than other lines.......you'll be much more likely to sell the whole house

I wonder if the above is more of a "regional" thing. My experience shows the exact opposite of these things. 90% persistancy and I never stop by or send letters (that is something I know I should do, however). I have sold for some carriers that just never seem to stick, though. That might have something to do with it.

 

[Hopwood04]

FE can be a very lucrative career. Just check the rates against some of the other companies, read your contract and make sure you don't get yourself into a trick bag.

 

[ActingBoss]

There is no way to identify blue collar, white collar or no collar people.

I'm certain they are identifying "blue collar" as people with a reported income that is extremely low. Most likely in the zero to $10,000 range. When prospecting, one of the first questions you will probably have to ask is whether or not they have a checking account.

If this is the case there will be very few cross selling opportunities. FE first year commissions are attractive but renewals are usually extremely low.

"There is no way to identify blue collar, white collar or no collar people."

What......surely you don't mean this

 

[gmcarter]

I have an opportunity to contract with a company paying 110% first year. I was told I will get no less than 20-30 leads per week at $20 per lead, targeting blue collar families. I anyones experience is this a viable opportunity or should I run like an antelope? Thank you in advance.

Blue Collar: Folks working, or did work non-professional jobs. They live in older neighborhoods. Houses are older. Cars are older. Income level- 15,000 to 30,000.
White Collar: Professional jobs. Manicured lawns, nicer homes. Newer cars. 30,000 - up.
I have focuses on blue collar and am pleased with how it's going. I don't buy leads, I pick a neighborhood and start knocking. My goal is to knock on 50 doors a day to set appointments for next day. So far, I've booked 4 appointments before I reach 50.

 

[nfl72]

I was always taught to work smarter, not harder. Knocking on 50 doors a day sounds like the wrong approach to me, as opposed to buying leads.

Just out of curriosity how long does it take to knock on 50 doors and if you knock on 50, how many are home and how many would be interested in what you have to say, on the average of course?

 

[Frank Stastny]

I was always taught to work smarter, not harder. Knocking on 50 doors a day sounds like the wrong approach to me, as opposed to buying leads.

Just out of curriosity how long does it take to knock on 50 doors and if you knock on 50, how many are home and how many would be interested in what you have to say, on the average of course?

Do you sell FE?

Who do you buy your leads from? How many do you purchase at a time and how much do you pay for them? Of the ones you purchase how how many appointments do you set and of the set appointments how many apps do you write?

 

[VolAgent]

I was always taught to work smarter, not harder. Knocking on 50 doors a day sounds like the wrong approach to me, as opposed to buying leads.

Just out of curriosity how long does it take to knock on 50 doors and if you knock on 50, how many are home and how many would be interested in what you have to say, on the average of course?

Really? Sounds like a winner to me. What is your lead cost? $20, $25? Let's just be generous and say $20.

How many leads does it take for you to book 4 appointments? 5, 6? Again, let's be nice and say 5.

So you spent $100 to get you 4 appointments.

As long as this guy has time to burn, his plan sounds like a winner. I seriously doubt he spends $100 in fuel and wear and tear on his vehicle and shoes to generate his 4 appointments. In fact, he says he generally does it before reaching 50 doors. And if he's smart, he's working a neighborhood, so all he really is doing is driving to one neighborhood, and then maybe to an adjacent one.

 

[nfl72]

I buy leads 25 at a time for around $400.00

On the average I can get 12 to 15 f2f meetings. Most of them will be set appointments. 2 or 3 will be stop bys.

Out of those meetings I expect to close 8 to 10.

I'd rather spend $400 for 2 weeks worth of leads than spend 4 days prospecting going door to door.

I can make more moiney per hour selling than prospecting. I probably average $1350 a day in the field selling. I average 6 days a month in the field.

Time is money and I'd rather spend my time selling than prospecting. I think what the guy is doing is great. I also believe he would make more money buying leads as opposed to going door to doo,r cold calling. I may be wrong. Thats why I asked him how long it takes to knock on 50 doors etc.

 

[Frank Stastny]

I buy leads 25 at a time for around $400.00

On the average I can get 12 to 15 f2f meetings. Most of them will be set appointments. 2 or 3 will be stop bys.

Out of those meetings I expect to close 8 to 10.

I'd rather spend $400 for 2 weeks worth of leads than spend 4 days prospecting going door to door.

I can make more moiney per hour selling than prospecting. I probably average $1350 a day in the field selling. I average 6 days a month in the field.

Time is money and I'd rather spend my time selling than prospecting. I think what the guy is doing is great. I also believe he would make more money buying leads as opposed to going door to doo,r cold calling. I may be wrong. Thats why I asked him how long it takes to knock on 50 doors etc.

It sounds like a good plan and it is working for you. That's what this business is all about, finding something that works for "you" regardless of what it is.

 

[gmcarter]

I was always taught to work smarter, not harder. Knocking on 50 doors a day sounds like the wrong approach to me, as opposed to buying leads.

Just out of curriosity how long does it take to knock on 50 doors and if you knock on 50, how many are home and how many would be interested in what you have to say, on the average of course?

I can average about 15 doors an hour. I would say about a one out of three I get an answer. This was the only way I come come up with to turn some business and get some cash flow started. Once money starts turning I'd love to buy leads. Hope to be doing that within the month, but until then, I'm a knockin!!
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I can average about 15 doors an hour. I would say about a one out of three I get an answer. This was the only way I come come up with to turn some business and get some cash flow started. Once money starts turning I'd love to buy leads. Hope to be doing that within the month, but until then, I'm a knockin!!

I'm told it takes about 3 weeks for leads to start coming in. I was just afraid to sign on the line and commit to buying 20-25 leads a week til I had a little cushion. As soon as I start buying leads, I'll let you know which way is most profitable for me.