Final Expense Companies With Best Commissions???

[Newby]

The last time I sold life insurance was back in 2009 and it was under Forethought Life and maybe one other company. I hear Forethought is no longer around. As I recall, they had a good advance commission scale.

I am working toward re-licensing. Which companies have a similar advance commission scale as Forethought did?

Most companies advance 75%. The companies may offer a set commission level but not every upline gives that same level out. You have to compare agencies. Get the grid from any agency that you are considering.

Here is ours: Final Expense Commission Levels

 

[Cybrspidey]

I would absolutely add in health products if you're working with seniors on a regular basis. Doing a combination of FE and health will build your renewal basis at twice the speed.

Without a doubt Peter! FE great front end... but boy oh boy, that Medicare, killer backend!

 

[Newby]

Without a doubt Peter! FE great front end... but boy oh boy, that Medicare, killer backend!

That is true. The Medicare has always been the easiest part. But so many agents are resistant to that easy cross sale. And the Medicare agents are resistant to cross selling FE. But once they get a taste of it it's a no brainer.

There is no better cushion than having 1000 Med Sups on the books. Gives you a lot of breathing room.

 

[Birdman300]

That is true. The Medicare has always been the easiest part. But so many agents are resistant to that easy cross sale. And the Medicare agents are resistant to cross selling FE. But once they get a taste of it it's a no brainer.

There is no better cushion than having 1000 Med Sups on the books. Gives you a lot of breathing room.

I started cross selling Medicare a couple of years ago just for supplements. Then added some advantage plans a few months later. FE is easy to learn compared to MA, but Newby is right...there's nothing more comforting that seeing your monthly salary grow slowly bigger and bigger. Sometimes the lowest lying fruit is those stupid Humana plans making AOR changes. I'm averaging two of those per week while working FE leads. Those take less than 5 minutes...lol. I only do those if they tell me they've had Humana for years and haven't heard from their agent once. Easy money.

 

[jdeasy]

I started cross selling Medicare a couple of years ago just for supplements. Then added some advantage plans a few months later. FE is easy to learn compared to MA, but Newby is right...there's nothing more comforting that seeing your monthly salary grow slowly bigger and bigger. Sometimes the lowest lying fruit is those stupid Humana plans making AOR changes. I'm averaging two of those per week while working FE leads. Those take less than 5 minutes...lol. I only do those if they tell me they've had Humana for years and haven't heard from their agent once. Easy money.

There's plenty of cross selling opportunities for MA if you are running FE leads and chose to carry MA plans. I chose to not.

There are very cross selling opportunities for med sups if running FE leads. I do chose to sell med sups and ask everyone who they have their med sup with. They all think they have a sup even when it's an MA plan.

I sell about 20 med sups in a normal year. Last year was not normal as I had a local plant stop carrying retiree medical and I had an in that sent people to me instead of AON.

I wrote about 50 med sups last year.

 

[JimmyUt]

I started cross selling Medicare a couple of years ago just for supplements. Then added some advantage plans a few months later. FE is easy to learn compared to MA, but Newby is right...there's nothing more comforting that seeing your monthly salary grow slowly bigger and bigger. Sometimes the lowest lying fruit is those stupid Humana plans making AOR changes. I'm averaging two of those per week while working FE leads. Those take less than 5 minutes...lol. I only do those if they tell me they've had Humana for years and haven't heard from their agent once. Easy money.

I agree completely with this. I have always advocated FE agents should offer medicare, whether it is all products like you and I or just med supps like JD. Make sure you don't get sold a bill of goods by folks who have never actually actively produced either. Marketers will tell you whatever you want to hear, but producers will explain the pitfalls and set you up for success.

 

[Birdman300]

I agree completely with this. I have always advocated FE agents should offer medicare, whether it is all products like you and I or just med supps like JD. Make sure you don't get sold a bill of goods by folks who have never actually actively produced either. Marketers will tell you whatever you want to hear, but producers will explain the pitfalls and set you up for success.

The toughest part is keeping that cash flow coming in from FE to pay the bills while slowly building up the renewals from Med Supp and MA. Jimmy is a perfect example of biting the bullet for a couple of years to make it happen. Dude worked harder than anyone I know...(myself included). Now he doesn't have to work much at all (but he's not one to sit still anyway).

Those MA plans all have a MOOP. I haven't tried it yet, but I believe there's an opportunity to sell Cancer/Heart Attack/Stroke plans to those people to help pay the coinsurance/copays/deductibles and added Rx costs. Again, I haven't tried it yet...would love to hear if anyone else is doing that succeesfully...and what they're doing...how they're doing it...and which carriers they're using.

 

[ExProgrammer]

The toughest part is keeping that cash flow coming in from FE to pay the bills while slowly building up the renewals from Med Supp and MA. Jimmy is a perfect example of biting the bullet for a couple of years to make it happen. Dude worked harder than anyone I know...(myself included). Now he doesn't have to work much at all (but he's not one to sit still anyway).

Those MA plans all have a MOOP. I haven't tried it yet, but I believe there's an opportunity to sell Cancer/Heart Attack/Stroke plans to those people to help pay the coinsurance/copays/deductibles and added Rx costs. Again, I haven't tried it yet...would love to hear if anyone else is doing that succeesfully...and what they're doing...how they're doing it...and which carriers they're using.

Did you see the training link that rousemark posted in the Senior Forum?

Good video explaining the reasons for Cancer/CI plan even if you have Medicare ot orther insurance.

https://youtu.be/EhDQL3enZLk

Maybe he'll be along to comment on carriers, etc.

Hey rouse. I had prostate cancer in 2011. I didn't like it, so I got rid of it. Would that make my rate higher for a cancer policy?

 

[rousemark]

Did you see the training link that rousemark posted in the Senior Forum?



Maybe he'll be along to comment on carriers, etc.

Hey rouse. I had prostate cancer in 2011. I didn't like it, so I got rid of it. Would that make my rate higher for a cancer policy?

You can't buy the majority of plans if you have had cancer within the last 10 years. There are some that will accept a person that is 5 years treatment free. Every plan I have seen is either accept or reject. No "rating" system in the case cancer history.

 

[FinalExpenseDojo.com]

Americo Eagle Premier pays some extremely high commissions. Street is in the 125% ballpark. Also, you can get a 8% bonus every 6 months on top of that.

They also have an instant approval e-app & you get paid the SAME DAY you write one. You gotta admit that's pretty cool.

Underwriting is pretty lax. Immediate level coverage for Afib, chew&cigar is non tobacco, & no age restriction on diagnosis of diabetes. (Email me for a full underwriting cheat sheet).

Doesn't get much better than this!