Final Expense Persistency: TELESALES vs F2F

[JRoot]

Final expense TELESALES 13 month persistency is the same or better than face to face. We'll show proof in this video.

We call out those perpetuating the myth and explain how that myth originated with a quick history of FE telesales.

You'll hear from the VP and President of a final expense life insurance company both say TELESALES is their best quality business.

We'll also show you where you should be persistency-wise and foundational tips to increase persistency.

 

[theinsuranceman]

Final expense TELESALES 13 month persistency is the same or better than face to face. We'll show proof in this video.

We call out those perpetuating the myth and explain how that myth originated with a quick history of FE telesales.

You'll hear from the VP and President of a final expense life insurance company both say TELESALES is their best quality business.

We'll also show you where you should be persistency-wise and foundational tips to increase persistency.

Good video.

 

[rousemark]

Final expense TELESALES 13 month persistency is the same or better than face to face. We'll show proof in this video.

We call out those perpetuating the myth and explain how that myth originated with a quick history of FE telesales.

You'll hear from the VP and President of a final expense life insurance company both say TELESALES is their best quality business.

We'll also show you where you should be persistency-wise and foundational tips to increase persistency.

Very informative

 

[DonP]

Final expense TELESALES 13 month persistency is the same or better than face to face. We'll show proof in this video.

We call out those perpetuating the myth and explain how that myth originated with a quick history of FE telesales.

You'll hear from the VP and President of a final expense life insurance company both say TELESALES is their best quality business.

We'll also show you where you should be persistency-wise and foundational tips to increase persistency.

The thing you said that’s the most important is the type of lead . When agents were running all telemarketing type leads that wasn’t the case . Now most agency’s running some type of lead that contacts them . Tv , streaming or digital leads that set up the appointment. The quality and type of client is higher . But then the question becomes what’s the avg cost of those type leads ? What am I netting at yr end ? The only person that makes money on the gross is your upline . But I still have zero doubt when a nsf hits I have a much greater chance of saving face to face vs over the phone . I’ve compared my success over the yrs saving nsf’s

 

[Newby]

I agree with most of what Jeff says here and he is definitely the agency I recommend when agents contact me that want to focus on tele-sales.

BUT, I have to disagree that the persistency is equal or better. Apparently with Liberty Bankers it was. But most face to face agents that are really going to have great persistency can keep the 13th month persistency up in the 90's many at 95% with their main carrier. We had one agent that had a last year's 13 month persistency of 100% with KSKJ and he wrote enough of that company to earn their convention. KSKJ actually gives me warning reports for any agent that falls under 85% persistency. And not many do. And a minimum of 85% 13th month persistency is a requirement to earn their convention trips.

With Trinity Life/Family Benefit Life they are very happy with the telesales persistency but it is not as high as the face to face sales persistency. I believe that Alvin told me there is around an 8% difference between the two over all. Those numbers could be drug down a bit since they opened the phone sales up to all agents a little over a year ago and many people try it with little or no training at it. But that's always been the case with face to face FE sales also.

But the take away I would take from Jeff's video is that persistency is a HUGE factor into which agency an agent should consider. Making sales is part of the total picture and the one everyone brags up. But keeping the business on the books is HUGE in how much money stays in YOUR checkbook.

I'm very certain that Jeff's agency is the best of the best at this for telesales. And I do think he is doing better than average and good face to face agencies for many reasons. But I don't think his numbers have yet hit the best of the best FE agencies for persistency. My opinion is that F2F agents still have a slight edge at building loyalty to the FE prospects as well as getting back in and saving the case if something falls off.

The numbers are close enough that an agent should choose to sell however he prefers to sell. Many agents prefer to sell by phone. Others prefer to get out and see the people. That should be your 1st decision. Which do you prefer?

 

[DonP]

I agree with most of what Jeff says here and he is definitely the agency I recommend when agents contact me that want to focus on tele-sales.

BUT, I have to disagree that the persistency is equal or better. Apparently with Liberty Bankers it was. But most face to face agents that are really going to have great persistency can keep the 13th month persistency up in the 90's many at 95% with their main carrier. We had one agent that had a last year's 13 month persistency of 100% with KSKJ and he wrote enough of that company to earn their convention. KSKJ actually gives me warning reports for any agent that falls under 85% persistency. And not many do. And a minimum of 85% 13th month persistency is a requirement to earn their convention trips.

With Trinity Life/Family Benefit Life they are very happy with the telesales persistency but it is not as high as the face to face sales persistency. I believe that Alvin told me there is around an 8% difference between the two over all. Those numbers could be drug down a bit since they opened the phone sales up to all agents a little over a year ago and many people try it with little or no training at it. But that's always been the case with face to face FE sales also.

But the take away I would take from Jeff's video is that persistency is a HUGE factor into which agency an agent should consider. Making sales is part of the total picture and the one everyone brags up. But keeping the business on the books is HUGE in how much money stays in YOUR checkbook.

I'm very certain that Jeff's agency is the best of the best at this for telesales. And I do think he is doing better than average and good face to face agencies for many reasons. But I don't think his numbers have yet hit the best of the best FE agencies for persistency. My opinion is that F2F agents still have a slight edge at building loyalty to the FE prospects as well as getting back in and saving the case if something falls off.

The numbers are close enough that an agent should choose to sell however he prefers to sell. Many agents prefer to sell by phone. Others prefer to get out and see the people. That should be your 1st decision. Which do you prefer?

I know kskj doesn’t have ss billing and according to jd ss billing doesn’t really factor into presistency . Me and 99% of agents would disagree with that . I thought about that . The reason that might apply to jd and kskj in general . Jd’s a self proclaimed replacement artist . He’s speaks constantly of loving people with ins already . Kskj is the ultimate replacement product. Great rates and super aggressive underwriting. Obviously people who already are paying for ins much less likely to lapse . I bet 40-50% of kskj’s business is replacement. I was wrong on kskj raising rates in 2022 . It’s got to be a combination of a 130-135% top payout and better persistency. That savings of 30% in commission must help more than I thought .

 

[jdeasy]

I know kskj doesn’t have ss billing and according to jd ss billing doesn’t really factor into presistency . Me and 99% of agents would disagree with that . I thought about that . The reason that might apply to jd and kskj in general . Jd’s a self proclaimed replacement artist . He’s speaks constantly of loving people with ins already . Kskj is the ultimate replacement product. Great rates and super aggressive underwriting. Obviously people who already are paying for ins much less likely to lapse . I bet 40-50% of kskj’s business is replacement. I was wrong on kskj raising rates in 2022 . It’s got to be a combination of a 130-135% top payout and better persistency. That savings of 30% in commission must help more than I thought .

Still living rent free in your head I see.

I agree that 99% of agents like you depend on SS billing.

But 100"s of agents writing KSKJ are not in your 99%.

FEX's persistency as a an IMO with KSKJ is over 90%. And while you may not realize it, I am not the only FEX agent writing KSKJ.

And there's no difference in my replacement persistency and my non replacement persistency. So you're gonna have to dig for another hypothesis.

Nick, whom heads up the FEX medicare dept, is also a $300K per year producers. Earns CEO level with KSKJ and also earns the Trinity trip every year. He says his persistency with Trinity, (SSB), is no higher than with KSKJ.

What you are missing is that FEX is a professional FE IMO. The best FE agents in the world reside with FEX. FEX agents are trained on setting appointments, presenting FE and following up on business.

Doesn't matter which company FEX agents chose to use. They are the top agents, production and persistency, with many companies. On various company trips there will be more FEX agents that earned their way there than with any other IMO's.

You don't have to search for answers. FEX has answered.

 

[noah]

If a skilled independent agent with strong companies in his bag gets into a house F2F and finds fresh overpriced or poorly underwritten business whether F2F or telesales he’s got a good shot at replacing that biz.

Reverse that…..if a skilled telesales agent with strong companies gets someone on the phone and finds that prospect with overpriced,poorly underwritten business what’s his chances of replacing that business ?

Tell us what the success rate of replacing that kind of business ?

Where’s the YouTube video of that ?

 

[DonP]

I knew that would get a response from you . Well you can debate all you want but for you to say ss billing not important is BS. You and your fex boys work the same leads we all do with rgi or one life . Ain’t no secret sauce . Your a replacement artist . I also find it curious people in every facet of insurance say yr by yr fewer and fewer people answer the phone due to telemarketers going wild . Yet you seem to have no issues with people answering the phone for appts . You must have a phone that says “ free goodies “ on when you call . Lmao

 

[noah]

I knew that would get a response from you . Well you can debate all you want but for you to say ss billing not important is BS. You and your fex boys work the same leads we all do with rgi or one life . Ain’t no secret sauce . Your a replacement artist . I also find it curious people in every facet of insurance say yr by yr fewer and fewer people answer the phone due to telemarketers going wild . Yet you seem to have no issues with people answering the phone for appts . You must have a phone that says “ free goodies “ on when you call . Lmao

It’s not only not answering the phone that’s a concern, it’s the fact that you are a total stranger to them when they do answer the phone. They get so many telephone calls you’re just another disturbance for the most part. You have literally fractions of a second to change that.What if the card sender is taking a dump ? Sick when you call ? Dodging bill collectors?

Very difficult to convince seasoned door knockers but easy to persuade greenies,newbies.