Final Expense Phone Qualifying Is Working

[Newby]

My advice to any agent entering FE is to make sure he has a product that is priced competitively, pays good first year AND renewals.

Don't get into this market if you don't have $5,000 in seed money to get you going. You probably won't need that much before you cash flow but don't try it on a shoe string.

Don't be married to one company. Have three companies that cover all age and health situations.

Have a database from your 1st sale on. ACT is a good one. YIO is a good and very simple one. There are others that some are free. But track your leads, prospects and sales (clients).

I advise agents to work close to home base. Why drive all over tarnation if you don't need to.

If you are paying full price for leads, you should never have less than a 150% commission contract and should have some at 175% (10-year totals). If you are getting discounted leads, you have to make allowances on your commission levels.

If the product you are selling is WAY over priced, you will often get replaced. That is an indisputable fact. If it happens to State Farm it can happen to ANY lesser known FE company regardless of what your upline is telling you. (And I replace quite a bit of State Farm).

Your upline USUALLY doesn't make that six figure income selling. Most of them make it by giving new agents slashed commissions and recycled junk leads.

 

[nfl72]

pretty good advicd Newby. unfortunately most agents will not follow it; like me. I have an ACT program that is great for storing leads and sales etc. I am just too damed lazy to do it. So here I sit buying 25 to 30 leads every three or 4 weeks.

Just like when I sold cars I never expected to be there very long so I never did things the right way as in followup ect. It was always a part time job until I found a job using my DEgre. I sold Toyotas for 14 years. Haaving a 14 year book oof business would have been very very handy.

Good advice Newby

 

[Oneputt]

My advice to any agent entering FE is to make sure he has a product that is priced competitively, pays good first year AND renewals.

Don't get into this market if you don't have $5,000 in seed money to get you going. You probably won't need that much before you cash flow but don't try it on a shoe string.

Don't be married to one company. Have three companies that cover all age and health situations.

Have a database from your 1st sale on. ACT is a good one. YIO is a good and very simple one. There are others that some are free. But track your leads, prospects and sales (clients).

I advise agents to work close to home base. Why drive all over tarnation if you don't need to.

If you are paying full price for leads, you should never have less than a 150% commission contract and should have some at 175% (10-year totals). If you are getting discounted leads, you have to make allowances on your commission levels.

If the product you are selling is WAY over priced, you will often get replaced. That is an indisputable fact. If it happens to State Farm it can happen to ANY lesser known FE company regardless of what your upline is telling you. (And I replace quite a bit of State Farm).

Your upline USUALLY doesn't make that six figure income selling. Most of them make it by giving new agents slashed commissions and recycled junk leads.

Thanks for the post.......all good info!

 

[javajnky]

You are independent with EFES.

JD, like your posts and advise, but that's a little disingenuous. Like any IMO that supplements the cost of leads (EFES included), you're expected to sell their products and carriers. It's only fair. PHR is exactly the same way. Are you technically "captive"? No. But tell your manager you're going to take the leads and sell XYZ Unaffiliated Insurance company with them and you'll very quickly find out how independent your are.

 

[jdeasy]

JD, like your posts and advise, but that's a little disingenuous. Like any IMO that supplements the cost of leads (EFES included), you're expected to sell their products and carriers. It's only fair. PHR is exactly the same way. Are you technically "captive"? No. But tell your manager you're going to take the leads and sell XYZ Unaffiliated Insurance company with them and you'll very quickly find out how independent your are.

You are still independent with EFES. I write for may companies that are not carried by EFES.

I had my MoO, Gerber and Forethought contracts under Frank. I have my 5 Star contract with another GA. I had my Shenandoah contact under another IMO and still have one under NAA.

You couldn't have any of that if you were captive.

 

[BenS]

You are still independent with EFES. I write for may companies that are not carried by EFES.

I had my MoO, Gerber and Forethought contracts under Frank. I have my 5 Star contract with another GA. I had my Shenandoah contact under another IMO and still have one under NAA.

You couldn't have any of that if you were captive.

I think it's safe to say you are the exception to the rule with EFES. When I spoke with them it was quite clear that if I were to use their mailers, then all business needs to be written with their carriers.

 

[jdeasy]

I think it's safe to say you are the exception to the rule with EFES. When I spoke with them it was quite clear that if I were to use their mailers, then all business needs to be written with their carriers.

Not so at all. I know of many EFES agents that have contracts elsewhere.

Yes, you are to use EFES companies when you use their lead to get the business. I wouldn't think of not doing that anyway. But, I do not have to use their leads and can get leads elsewhere if I chose.

 

[BenS]

Not so at all. I know of many EFES agents that have contracts elsewhere.

Yes, you are to use EFES companies when you use their lead to get the business. I wouldn't think of not doing that anyway. But, I do not have to use their leads and can get leads elsewhere if I chose.

Of course if you develop the lead, then yeah, you can write it with the carrier of your choice. But I think java was referring to people on the lead program.

 

[rousemark]

Posted by Josh

"We're not talking about going a few miles of the speed limit, we're talking about violating a law that comes with a fine of up to $16,000 per *call*.


I asked before at least twice, give me just one name where an agent buying leads from his upline had to pay a fine of any amount let alone the $16,000 per call you insist on throwing out there.

You sound just like the local prosecutors who charged a local highschool girl with a 20 year felony for a cherry bomb. Your scare tactics are getting very boring to me and the others who are pming me.

Put up or shut. Its just like putting fear in people with Foresters contracts because they are a fraternal order. Nothing moe than scare tactics.

What Fraternals can or cannot do is not a scare tactic. It has happened before:

Companies that have sent me flyers

 

[RonRoberts]

If you are paying full price for leads, you should never have less than a 150% commission contract and should have some at 175% (10-year totals). If you are getting discounted leads, you have to make allowances on your commission levels.

Are you talking about dropping your own mail drop? What do you consider full price for leads?