Final Expense Brokerage in Ohio/Compensation and Leads

[Senior Market Man]

I'm doing some looking for 2020 to see if I can find another good option for my Final Expense business.

I signed up with Final Expense Brokerage in 2018 and spoke to a marketer named Michelle. She's been extremely helpful and actually answers the phone when I need to get a hold of her. I was tired of getting voicemails with my old IMO. I chose a few companies where I earn lead co-ops. My favorite is Royal Neighbors, but I write some with GPM and Liberty Bankers as well. In a nut shell, they are paying me 120% commissions with three companies and they pay $200 of each of lead orders. I'm only paying $270 for 1000 lead mailers and I'm getting about 15-18 leads on average per mailing. They have tv leads and telemarketed leads as well, but I prefer the direct mail leads.

I had my best year this year with $127,000 of premium and it's so much easier to pay $270 for each lead order instead of $430-470.

I am always looking for better deals. Any suggestions. What's working for you?

 

[DonP]

You're not getting a better deal than that. Your paying around $18 a lead and getting street commish . With anyone else your basically getting street also but paying $31 plus a lead . She used to have a gig were you paid $19 fixed cost lead if you did $100k or more

 

[Senior Market Man]

Michelle, at Final Expense Brokerage told me about that, but at the time I was writing some business through another IMO, so I chose the 120% with half of my leads paid for by them. I might try ordering a generic Medicare Supplement lead so I get more leads. Michelle said I can pick any type of lead that I want just so I keep writing life through FEB to earn the lead co-op. They have a bunch of Medicare Supplement, Hospital Indemnity and other products as well with top commissions. I just signed up with a few competitive Med Supp companies with FEB to get ready for next year.

What marketer do you talk to at FEB? Joanne has been helpful with my contacting so far.

 

[rousemark]

Their lead cost share seems to be strong.... Not many IMOs are doing this and still paying good commissions... FEB $200 Lead Co-Op Program — Final Expense Brokerage

 

[Baseball7]

Sounds like the best thing you can do is just increase the volume of people you're saying and find out how much of the business you're writing modified or guaranteed issue. There are definitely situations you cannot cover with just Royal neighbors, lbl and GPM.

 

[Senior Market Man]

Final Expense Brokerage has three GI companies with NO health questions and something like 10–20 other life companies with immediate benefits. They recommend writing the immediate benefit plan with the 4 CO's that pay 120% and half your lead costs. You can keep your lead costs low by focusing on those 4 CO's and using the other companies when you have a niche to fill. I can't remember the names of all of the CO's but their website is decent: finalexpensebrokerage.com

 

[tribetime32]

I'm in Ohio if you ever want to chat good sir. I don't know if I can help you, but I may be able to point you in the right direction. Hope you have a great end to your year.

 

[Bbqsteve]

I'm in Ohio if you ever want to chat good sir. I don't know if I can help you, but I may be able to point you in the right direction. Hope you have a great end to your year.

Good, Just sent you an email. What part of Ohio? I travel there often.

 

[tribetime32]

Mansfield

 

[TripleH]

Overall you are in a good situation and any move you would make, you would probably be making a unilateral one at best. It depends what you are looking for in terms of pain points. Do you want to build a team and is their system good for doing so?
Do you want to increase production?
Is the Direct mail card you are running and getting a good return on the quality you like and does it say life insurance on it?
127k in a year definitely earns high levels, great job closing out 2019 strong!