Ramiz i think what you haven't said is American Amicable has a rop that pays full comp that about 50% of GI people will get. The only problem is it has a 3 yr wait i believe 65 and under . What % of your business is rop?Also what % of your leads are direct transfer tv leads? I know Many of the direct transfer leads out there are outbound callers doing telemarketing and those leads aren't nearly as good as direct Transfer tv leads.
Final Expense Telesales Tips - The Reboot!
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That's an interesting point. I remember that JD always just gave them the MOO phone number. But I'm curious about a couple of your conclusions. 1) persistency - My persistency on GI products sold F2F is actually pretty high. Are you saying that I would have a different experience if they were sold by phone? 2) commissions - the lowest GI contract I have is about 50% of my other FE commission. How do you arrive at 20-30%?
- 5,973
I adopted that also for the most part. The only GI cases I write are otherwise healthy HIV folks, since those folks seem to have as normal a life expectancy as any of us these days, for the most part. But active cancer, COPD on full-time O2 (unless they are willing to try the Bacon Diet), recent open heart surgery with multiple morbidities - I tell them to call MOO.
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When I first learned that JD was sending people to MOO, I thought I'd give it a try. The first time I did that, I was working a case by phone on a couple where the wife was in her 50's and in good health, but the husband was older and in extremely poor health. I sold her a good immediate benefit policy at preferred rates, but gave her the MOO number for her husband. She called back the next day to cancel hers because MOO, besides taking her husband, had also written her a full benefit policy for about a half dollar less!
After that, I got set up with Gerber. But I usually only write it if I think they've got a decent chance of making it past the 2 year mark. Otherwise, I recommend they go over to the funeral home to set up a payment plan.
- 5,973
I guess you've identified one of the dangers of phone sales ... if you had wrote her up in person, I wonder if she'd have been inclined to even ask MOO for a quote, much less take their policy for a $6/year savings. But, who knows, some people ....
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The product I sell with AmAm is my own (North Star Legacy) and it only has a two year ROP. I can't speak for other AmAm products, I literally only sell one product.
Its about 33% ROP and 66% Immediate. And yes, I get no reduction in comp for ROP.
TV is cyclical, although right now is amazing. Usually March Madness, election cycle, or major events that have broadcast channels covering 24/7 will kill TV (like the impeachment trials).
We fluctuate from 90%+ TV all they way down to 0% sometimes based on the season.
Digital ads can easily supplement TV and ramp up very quickly. Digital cost is way down too.
- 1,912
I can only speak to Telesales.
AmAm has confirmed that our quality of business is higher than what they are seeing face to face.
Also the 20% figure is made up of 50% the normal comp and 50% the regular quality.
To be fair, I've sold Great Western, NGL, and Kemper for GI... all three were a total disaster.
I can't speak for AIG or Gerber but have heard those too have their own shortcomings.
It's also important to point out that servicing your clients virtually is important for telesales. Some of these GI companies will let you sell over the phone, but require a wet signature to service.
That's just stupid.
- 1,912
I guess you've identified one of the dangers of phone sales ... if you had wrote her up in person, I wonder if she'd have been inclined to even ask MOO for a quote, much less take their policy for a $6/year savings. But, who knows, some people ....
Definitely a risk, but I never worry about one policy here or there, I'm worried about writing the most I possibly can and maximizing my time.
In the process you will lose some clients for sure.
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Despite my apparent reputation, I wasn't "trolling" or trying to be unduly negative. Just making conversation. I don't think you took it that way, but just in case ...
- 1,912
Despite my apparent reputation, I wasn't "trolling" or trying to be unduly negative. Just making conversation. I don't think you took it that way, but just in case ...
It's all good.
Although you haven't been the most civil in the past with me, this is not one of those times.
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