Final Expense or Mortage Protection?

Discussion in 'Final Expense Forum' started by Jaymon, Aug 9, 2017.

  1. Jaymon
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    Jaymon Member

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    Which is more profitable?
     
  2. jdeasy
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    jdeasy Well-Known Member

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    I've done both. No comparison. I make more than double in FE. And my number one production year was in MP.
     
  3. BoJax
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    BoJax Well-Known Member

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    No renewals (or super low) with mp, right?
     
  4. jdeasy
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    jdeasy Well-Known Member

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    Pretty low. I get 1% from Shenandoah and F&G.

    But I wasn't talking about renewals.
     
  5. Broker4Ever
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    Broker4Ever Well-Known Member

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    I've sold both & will say hands down FE I a lot more profitable & enjoyable.

    Main reasons are
    1. MP is a tiny demographic so the cream of the crop leads are very scarce.
    2. You have to sell simplified Issue products to perfectly healthy people to make money. Very tough to do because if another agent comes in behind you they'll offer fully underwritten & blow it out of the water everytime.
    3. Underwriting is super inconsistent. High "does not qualify" ratio.
    4. Sales cycle takes way too long resulting in lost sales when they get declined or the carrier needs doctors records and/or medical exam.

    Final expense is pretty much the opposite of all that.
     
  6. FE365
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    FE365 Active Member

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    FE is easy bro.. buy 20 cards a week and only work 3 days a week..
     
  7. Jaymon
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    Jaymon Member

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    There seems to be some advantages to MP:

    - Higher premium average, almost 2x as much with about the same conversion
    rate (25%) as FE leads.
    - No door-knocking required, able to secure appointment on calls.
    - Everyone has checking accounts.
    - Higher retention rate.

    The challenge is getting 20 MP "A-leads" a week, it seems some IMO do not have "A-leads" available in some ares. I've been getting 30 FE leads a week and I'm going to start getting MP leads this week.

    I'll post after about my MP experience in a couple of months.
     
  8. jdeasy
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    jdeasy Well-Known Member

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    My premium average is higher with FE.

    And leads cost much less for FE.

    If someone wants to seriously look at MP then I would look up Twilight and have a long talk about it.
     
  9. KRobby
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    KRobby Well-Known Member

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    Always enjoy the compare and contrast different niche market threads. Seems the biggest drawback to mp is LEADS. Seems everyone goes through their imo and probably not getting them as fresh as advertised, which is fine if you're lucky and they haven't been worked. Cool marketing idea, but small market with lots of agents. I think skipper is the forum expert in this area if I remember right.

    Edit: jd beat me to it, meant Twilight.
     
  10. Agentguy5
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    Agentguy5 Well-Known Member

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    Just produced a video on why I like FE over MP:yes:

     
    Last edited by a moderator: Oct 8, 2017
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