Final Expense IMO's for a Beginner

[whatsthis]

You must not be familiar with our agency at all. We have about 50 of what you would call unicorns. We never subscribed to the buy a million leads per week club. When we read about some of you guys buying 40 to 60 leads weekly we were shocked in the other direction. We figured that you guys never took a day off or something to run that many leads.

But it comes down to this. Our group usually runs 20 to 25 leads weekly. A few take 30. Most call Saturday morning to set appointments for Monday. Monday is a field day. All day. 100% focused on selling. If you hit your goal of $4,000 on Monday Travis says to toss the rest of your leads away and take the rest of the week off because you hit goal. Most agents (me included when I was in the field) aren't going to do that. They are going to go out again on Wednesday.

So Monday was a field day. Tuesday is an office day. You process your sales and call to set your appointments for Wednesday. Wednesday is a field day just like Monday was. 100% focused on sales. If you still havent hit your $4,000 by the end of the day on Wednesday then you go back out on Thursday. Some of them on Thursday might be cold door knocks.

Friday is the Agent call. And then you rinse and repeat for next week. UNLESS you haven't hit your $4,000 on Friday. If you haven't hit goal by Friday you keep going until you do. Death before disgrace.

This model has worked for a whole lot of people over the years. Not for two unicorns. The unicorns are the guys like Tim Winders and Matt Mungia selling huge numbers in their record years. What JD and Jose do are good but pretty standard for agents who work an effective system. And they do it at a pace that they have a LOT of family time and can keep it going long term. All these guys run the Travis Tubbs model that he layed out years ago. It still works today just like it did 10 years ago.

What a blessing this would be

 

[jerryrut]

It's so hard to understand what a IMO does. Why are they hard to get into, and why are there bad ones? We're contracted through my daughters father in laws IMO but he's a jerk, why do we have to go through him? What's a good contact and what's a bad one. Trying to understand?

IMO = Independent Marketing Organization; they function as the recruiting/marketing/training arm for some insurance companies; a few do a good job with all of that but many do little more than get you contracted; most are easy to hook up with as long as you're not a credit risk since they're on the hook for your advanced commissions; do your research before you jump in; you don't have to go thru him, there are a lot of options out there.

 

[Newby]

Just a quick explanation,
Father in Law (Chris) want to take 85% of my commissions and 80 of my daughters why would I ever do that? Noway right?

I would be shopping for a new Father-in-Law as well as a new IMO.

No your Upline should not be taking 80% of your commission unless you are just office help that gets a slight bonus when you help with a sale.

If you are stirring up your own leads and creating your own sales then you should be making in the vicinity of 115%. If your father-in-law is handing you leads and field training your and helping you all the way through the sale your cut could be as low as 50% of the 1st year annual premium. Anything less is getting into taking advantage of a relative.

 

[rousemark]

Just a quick explanation,
Father in Law (Chris) want to take 85% of my commissions and 80 of my daughters why would I ever do that? Noway right?

Do you get paid directly by the companies or have you assigned commissions to you FIL?

 

[jerryrut]

Well, right now we get directly paid by the companies. But, with the deal he's offering he'd move all or our contacts and we'd be paid through the agency. The leads are from a offshore vendor they partnered up and do a 50/50 split on the profits,. It wasn't thought out very well, but That's another story. Lol I can get leads allllll day long offshore there's 1000's of vendors. Honestly, anyone can do the same thing. I have a meeting this morning with a guy. They're writing around 200 apps a month with 4 agents, 3 are hourly and one is paid 45% commission. Do the math the profits are huge and his pipeline is building. Last week they wrote 22 app in a day. Not bad. I hope this helps some of you out there. Like I always say there's enough to go around

Which companies are they doing all this business with?

 

[goillini52]

Just a quick explanation,
Father in Law (Chris) waned t to take 85% of my commissions and 80 of my daughters why would I ever do that?

You wouldn't/shouldn't.

 

[jerryrut]

Good Morning Mr Jerry
They primarily try to focus on maybe 6 to 10 companies but, they're appointed with several more. I'd say Royal , Liberty, Moo, AIG, Great Western, and Limico.

I'm a little skeptical about those numbers but I'm skeptical about everything, being an auditor in a former life

 

[goillini52]

I can't figure out this form lol the #s are definitely spot on I've been there and watched them sale. But, when I have time I'll explain more in detail how the leads come in. I'm off to get ready and I'll feel you in on our meeting when I return home, California traffic lol it's a beast! Someone hit my daughter aka (illegals) yesterday and when my daughter who has a bad heart and is very ill approached them they tried to beat her up and took off! They were on something my poor kid, if you only knew what she's been through.

Being in California, I'm surprized that your daughter wasn't arrested. Nothing makes any sense there anymore. It's a backwards world.

Hope your daughter's ok.

Build That Wall!!!

 

[rousemark]

Well, right now we get directly paid by the companies. But, with the deal he's offering he'd move all or our contacts and we'd be paid through the agency. The leads are from a offshore vendor they partnered up and do a 50/50 split on the profits,. It wasn't thought out very well, but That's another story. Lol I can get leads allllll day long offshore there's 1000's of vendors. Honestly, anyone can do the same thing. I have a meeting this morning with a guy. They're writing around 200 apps a month with 4 agents, 3 are hourly and one is paid 45% commission. Do the math the profits are huge and his pipeline is building. Last week they wrote 22 app in a day. Not bad. I hope this helps some of you out there. Like I always say there's enough to go around

I would never assign my commissions to anyone. That can develop into a very bad situation.

 

[WinoBlues]

They're writing around 200 apps a month with 4 agents, 3 are hourly and one is paid 45% commission.

If they can write 40 - 50 applications a month why in hell world they not keep all of the comp?

Assigning comp, no day one vesting and not owning the business. Is asking for an unpleasant ride.