Final Expense Chargebacks

[lleaoclark]

One can never over communicate with a client. I send several snail mail items to each of my clients every year. I don't use e-mail or a card service for things like birthday greetings, thank you's, etc. I prefer a more personal touch.

I send personalized, hand signed birthday letters and thank you letters, anniversary letters, etc instead of cards. They are so much more appreciated.

Like JD I don't ask for referrals. I have never found it necessary to do so. I get referrals based on what I do and who I am to them.

With that said, I only sell Med Supps and cross sell FE. It is probably more important with Med Supps since companies typically pay first year commission for the first six years.

Ok I get it. I read JDs last post first and was just about to ask him why Med Supp customers get the cards every year and not the FE. But I think you just answered it. More to lose with the Med Supp customers. Is that your reason too JD?
- - - - - - - - - - - - - - - - - -
I imagine that those cards help with the chargebacks too (getting back to the point of the thread!)

 

[jdeasy]

Ok I get it. I read JDs last post first and was just about to ask him why Med Supp customers get the cards every year and not the FE. But I think you just answered it. More to lose with the Med Supp customers. Is that your reason too JD?
- - - - - - - - - - - - - - - - - -
I imagine that those cards help with the chargebacks too (getting back to the point of the thread!)

Mostly yes. Med sup selling is more of a long term relationship. Not that FE isn't, but, it's just different.

For FE, I get my clients the best value and it stays that way. With med sups, the value today might not be the best value next year or the year after that. When companies change rates like they do, the clients are going to be looking for the best deal. I want them to shop it with me.

Most of my med sup clients are also my FE clients, so, it's works out well.

I am not a heavy hitter in med sups. I sold my first med sup just 3 years ago. I only sell about 20-25 med sups a year. Those are to my FE clients or to referrals. I do about 300 FE apps a year.

 

[GrassisGreener8]

At least 80% of your business should still be active after 13 months.

Some companies will even fire you for less than this.

Yeah right! Good luck with those figures. More like 53% of that business will chargeback in 12 months.

 

[Life Hawk]

Yeah right! Good luck with those figures. More like 53% of that business will chargeback in 12 months.

If your business is falling off at the rate of 47% in a 12 month period, you are dong something wrong. Are you face 2 face or are you over the phone?

 

[GrassisGreener8]

If your business is falling off at the rate of 47% in a 12 month period, you are dong something wrong. Are you face 2 face or are you over the phone?

No I don't sell Fex is a broke market. I do mortgage protection 100000000000xs better. No bs client stuck I have a 95% stuck ratio for the past 26 months. Every time I run FEX I'm finding myself going to trailer parks and selling against a pack of cigarettes! No thank you keep it!

 

[WinoBlues]

Yeah right! Good luck with those figures. More like 53% of that business will chargeback in 12 months.

If 50% is negative production. You are doing something wrong. I would walk away from that business. If I only had a 75% stick rate I would walk.

 

[Life Hawk]

No I don't sell Fex is a broke market. I do mortgage protection 100000000000xs better. No bs client stuck I have a 95% stuck ratio for the past 26 months. Every time I run FEX I'm finding myself going to trailer parks and selling against a pack of cigarettes! No thank you keep it!

Not to sound like a know it all, because those here on a regular basis know very well I don't. But your issue with FEX may be more related to your ability to solidify. A subject that is second only to being able to sale.

Just a thought.

 

[WinoBlues]

It is just Life Insurance.

 

[DonP]

On Monday I was in a trailer and felt something on my neck . Swatted at it and it was a roach . It fell to my clipboard and I squashed it . The guy goes " oh it's a roach". I didn't lose a step and wrote him . Few have the stomach to do what we do . That's why so many fail at this . 800 miles driving a week and roaches .

 

[Life Hawk]

On Monday I was in a trailer and felt something on my neck . Swatted at it and it was a roach . It fell to my clipboard and I squashed it . The guy goes " oh it's a roach". I didn't lose a step and wrote him . Few have the stomach to do what we do . That's why so many fail at this . 800 miles driving a week and roaches .

... If you started working for Orkin, you could kill two birds with one stone... or squish to roaches with one swat.