Final Expense Program

[CT1984]

I have been in the Final Expense market over 10 yrs. 1st 7 years in the field face 2 face, last 3 yrs. EVERYTHING handled over the phone. No meeting the prospect and can be done from your home or office. You do NOT even have to mail the app to the prospect for a signature, everything is handled with a digital recorder. Chargebacks NEVER come out of advanced commissions, they are deducted from your unearned commission. Therefore, your advance commissions are based ONLY on the production turned in, not affected by chargebacks. Also, husbands/wives can take a plan out on their spouse and you never even have to talk to the proposed insured..the spouse answers all health questions for the proposed insured! I know this post looks like an ad..but anyone interested in being successful in the FE market would benefit from this type of contract. Very agent friendly. The leads that I and my group work are pre-qualified to have a bank account so we don't waste any time talking to people who do not have a bank account, we want to talk with prospects where we can get advace commissions if a sale happens (and have better persistency). If anyone is interested in finding out more about this opportunity feel free to email me or call Greg 252-292-3350.

Would this work for brand new agents?. I'm currently not licensed yet, but will be.

 

[Daytona_Guy]

To answer your question, yes, final expense sales by phone still works.

Our agency philosophy, though, is that paying an agent 65% or 90% or even 100% for doing the work is almost criminal. The agent is taking all of the risk himself in doing the mailings and/or ordering leads. The agency has no risk in that whatsoever.

We believe in paying agents fairly, so that they can get the highest return on their investment when doing final expense in person or on the phone. This means the agent is more likely to succeed and stay with us. If they're barely making their lead cost back (remember that leads are a FIXED cost for everybody, regardless of contract level) then we'll lose them for sure. That's why so many agents can't make it with agencies paying these types of commissions.

When working over the phone for burial insurance, it makes persistency way higher due to solidified credibility when you mail the partially-completed application to the client for their signature. This avoids the objections of them not wanting to give out their social security number and checking account numbers, etc. over the telephone. When they see, in the mail, information on your company along with an application on a state approved form, they know you are legitimate. When they sign their name that they are applying for coverage, they are WAY less likely to cancel that policy - especially before it's even issued.

"Not taken" policies and early terminations run rampant in telephone-only sales. When someone from the home office calls to verify everything with the client, as they almost always do, that's when the cancellations happen. It does not happen like that when the application is actually signed by the client.

CW

 

[ginnajohns]

Same Problem is with me

 

[Daytona_Guy]

Would this work for brand new agents?. I'm currently not licensed yet, but will be.

Absolutely. Visit the final expense by phone agent site.

 

[FEinsguy]

I have been in the Final Expense market over 10 yrs. 1st 7 years in the field face 2 face, last 3 yrs. EVERYTHING handled over the phone. No meeting the prospect and can be done from your home or office. You do NOT even have to mail the app to the prospect for a signature, everything is handled with a digital recorder. Chargebacks NEVER come out of advanced commissions, they are deducted from your unearned commission. Therefore, your advance commissions are based ONLY on the production turned in, not affected by chargebacks. Also, husbands/wives can take a plan out on their spouse and you never even have to talk to the proposed insured..the spouse answers all health questions for the proposed insured! I know this post looks like an ad..but anyone interested in being successful in the FE market would benefit from this type of contract. Very agent friendly. The leads that I and my group work are pre-qualified to have a bank account so we don't waste any time talking to people who do not have a bank account, we want to talk with prospects where we can get advace commissions if a sale happens (and have better persistency). If anyone is interested in finding out more about this opportunity feel free to email me or call Greg 252-292-3350.

Sounds like Sr Life. Anyone using this system successfully?

 

[magagent]

I think it is Lincoln Heritage.

 

[Daytona_Guy]

Sounds like Sr Life. Anyone using this system successfully?

No.. tried with my agents but the compensation is just too low to justify lead costs, etc. with Senior Life. There are lots of other threads here discussing agent experiences with them.. none fond of them except for Greg and his recruiting efforts for them.

 

[wkc62851]

Lead cost is $10 a lead. There is no cost for the telesales part, no recording devices needed, ect.

You are right, agents are beating down the door for this product. Even with a great product, you still have to advertise; so I spent the 2 min. and put a post on this board.

I am intrested in this company you mention. I tried to email you but was unsuccessful. Could you send me info?......THX!!!

 

[boardhugg]

United Heritage has a great final expense program to meet the needs of your clients. The Final Expense market is described as middle to low income, death benefit needs under $25,000, and those individuals between the ages of 45-85. Our final expense products are designed to be competitive in price, quick in underwriting, and pay a great commission as well. We have two final expense products; Protector Whole Life and Protector Graded Benefit. Both are simplified issue type products . The PWL/PGB are non-illustrated products so you will not have to try to explain an illustration to your client. A rate book, an application, and a prospect are all you need.

 

[WinoBlues]

United Heritage has a great final expense program to meet the needs of your clients. The Final Expense market is described as middle to low income, death benefit needs under $25,000, and those individuals between the ages of 45-85. Our final expense products are designed to be competitive in price, quick in underwriting, and pay a great commission as well. We have two final expense products; Protector Whole Life and Protector Graded Benefit. Both are simplified issue type products . The PWL/PGB are non-illustrated products so you will not have to try to explain an illustration to your client. A rate book, an application, and a prospect are all you need.

Absolutely agree

The PWL is 35K max. Also have a Mod product ROP+ Xs 2 years. Not a price leader. App is short. If they answer all nos to a tier they qualify for that product. MIB, Script, MVR. Point of sale PHI in multiple languages. Faxed apps.

But one of the easier to work with. You can Talk to the underwriters and they will listen. They pay at issue. Great customer service people.

They also have Preneed. But you can write FE or preneed. Not both.

Just my 2 cents