Final Expense Expectations & Advise for First Timer?

[Thad.Sipple]

Just remember insurance is a get rich s l o w business. S l o w means many many years.

 

[nfl72]

A good salesman that hustles in this business can make decent money right out of the chute, if he is willing to work hard. What I like about this business is the better you get the easier it becomes and the less hours you have to work to make decent money.

There is definitely a learning curve. I have been in the business for 4 years and I learn new things all the time. Many of those things have been learned from reading this forum.

I also think it is very similar to the mortgage business in that if your not that sharp you can still make decent money by working harder. I do believe if your going to make big money in this business you better be real good.

I knew guys in the mortgage business making big bucks that were not all that sharp and not even very good salesmen, they just put in a ton of hours.

The proof is in the pudding. 9 out of ten won't make it.

 

[Thad.Sipple]

A good salesman that hustles in this business can make decent money right out of the chute, if he is willing to work hard. What I like about this business is the better you get the easier it becomes and the less hours you have to work to make decent money.

There is definitely a learning curve. I have been in the business for 4 years and I learn new things all the time. Many of those things have been learned from reading this forum.

I also think it is very similar to the mortgage business in that if your not that sharp you can still make decent money by working harder. I do believe if your going to make big money in this business you better be real good.

I knew guys in the mortgage business making big bucks that were not all that sharp and not even very good salesmen, they just put in a ton of hours.

The proof is in the pudding. 9 out of ten won't make it.

When your right your right!

 

[TPAAgent]

It''ll take a year at least to understand how it works- You'll make a lot of mistakes- but they'll be valuable mistakes.

Know your products, and better yet, know your prospects-

Time is money-

 

[slushpuppyking]

New guy to Final Expense & was curious how to incorporate a system where I can build my business successfully. I have been reading several post on this forum and have noticed there are several FE writers that are very successful....If you were to do it all over again how would you have built the fondation of your business differently and what would you not change that has been working from day one?

I have made the decision to start with 20 leads a week at roughly $400 per week lead cost. with 80% contract with promotion based on production.

of those 20 direct mail pieces I prefer to door knock instead of use the phone (just my personal preference, I understand you can be successful either or)....By maintaining my activity with 10 door knocks a day or 50 per week using a cookie cutter style presentation with roughly 5-6 companies to offer including Guarantee issue what would be a realistic first month, 6 month, first year outcome of net income?

Also how soon would you start recruiting a team? and also should i recruit a team? Pros & Cons

I really believe that a strong foundation right off the bat will help the momentum of my business and make each month easier as i learn the business..

Any advise or tips on some good threads to check out will be very much appreciated as I look forward to participating in this forum.

It's a tough business. Anyone here will tell you that. It gets easier with time but the truth is very few make it long enough to experience that. If a new agent could expect a few incoming calls a week from people wanting to buy from you than everybody would be in this business.

This forum is awesome but as a new guy prepare to go through the standard cycle of:

• Spending too much time here
• Feeling like you need to be an expert before selling
• Asking about door knocking
• Then asking about direct mail leads
• Suggesting prospecting ideas everyone here has already tried
• Look at Medicare to help with FE
• Should I do phone sales?
• Where do you guys get your leads?
• A little bit of depression
• Committing to knocking on doors all next week
• Knocking on 1 door.....never again

Getting in front of as many people as you can and getting your name out there is the name of this game.

Welcome to the forum!

 

[Buck_I]

It's a tough business. Anyone here will tell you that. It gets easier with time but the truth is very few make it long enough to experience that. If a new agent could expect a few incoming calls a week from people wanting to buy from you than everybody would be in this business.

This forum is awesome but as a new guy prepare to go through the standard cycle of:

• Spending too much time here
• Feeling like you need to be an expert before selling
• Asking about door knocking
• Then asking about direct mail leads
• Suggesting prospecting ideas everyone here has already tried
• Look at Medicare to help with FE
• Should I do phone sales?
• Where do you guys get your leads?
• A little bit of depression
• Committing to knocking on doors all next week
• Knocking on 1 door.....never again

Getting in front of as many people as you can and getting your name out there is the name of this game.

Welcome to the forum!

Awesome post! Thanks!

 

[Buck_I]

So to sum it all up I guess what I am finding is that the subduction of money in the insurance business is short lived when it comes time to go out and hit the pavement. If most who fail would just work than they would succeed.

Like anything, you get out of it what you put into it. The difference with final expense insurance is it truly is a numbers game, See the people, show the plan, etc.. If you set your expectations relatively low and just work a consistent schedule day in day out, week in and week out then with time this old game of insurance selling becomes a part of your DNA allowing for the success to soon follow.

The moral of this thread seems to be summed up like this now dead football coach once said......"The Dictionary is the only place that success comes before work. Hard work is the price we must pay for success. I think you can accomplish anything if you're willing to pay the price."

Thanks for the welcome I can see I will be learning a lot from all of you.

 

[Todd King]

So to sum it all up I guess what I am finding is that the subduction of money in the insurance business is short lived when it comes time to go out and hit the pavement. If most who fail would just work than they would succeed.

Like anything, you get out of it what you put into it. The difference with final expense insurance is it truly is a numbers game, See the people, show the plan, etc.. If you set your expectations relatively low and just work a consistent schedule day in day out, week in and week out then with time this old game of insurance selling becomes a part of your DNA allowing for the success to soon follow.

The moral of this thread seems to be summed up like this now dead football coach once said......"The Dictionary is the only place that success comes before work. Hard work is the price we must pay for success. I think you can accomplish anything if you're willing to pay the price."

Thanks for the welcome I can see I will be learning a lot from all of you.

You were asked a few posts ago, who is the organization you're going with? That may be more relevant than you think.

 

[jerry176]

Subduction is that a new word?

 

[jdeasy]

While hard work is certainly helpful and probably won't succeed without it, that is not the hard the key to making it in the FE business.

I know of very hard working broke agents.

First, you have some basic knowledge of the product and second, and most importantly, you must have people to sell those products to.


Having leads is the most important thing in the business. I'm sure there is 100% agreement among successful agents on that. There is disagreement on how to generate those leads. Whether it's buying leads, buying lists, cold calling, cold doorknocking, referrals, etc.

However you get them, you must have them to make it.

Personally I think the most efficient manner to get leads is to buy them. I only know of one very successful FE agent that doesn't buy leads. She is an aberation in that she works almost exclusively from cold doorknocks and referrals. But even she does buy leads on occasion.

So you can try to replicate what the aberation does or you can do what the rest do.

So to sum it all up I guess what I am finding is that the subduction of money in the insurance business is short lived when it comes time to go out and hit the pavement. If most who fail would just work than they would succeed.

Like anything, you get out of it what you put into it. The difference with final expense insurance is it truly is a numbers game, See the people, show the plan, etc.. If you set your expectations relatively low and just work a consistent schedule day in day out, week in and week out then with time this old game of insurance selling becomes a part of your DNA allowing for the success to soon follow.

The moral of this thread seems to be summed up like this now dead football coach once said......"The Dictionary is the only place that success comes before work. Hard work is the price we must pay for success. I think you can accomplish anything if you're willing to pay the price."

Thanks for the welcome I can see I will be learning a lot from all of you.