Final Expense Telesales Tips

[goillini52]

Didn't Hakim also reveal a fraud arrest to the board?

Bobby Knight? Yep, he's quite the detective.

 

[Newby]

Whats the difference in placement and/or persistency with them v. another carrier you think?

It's very high with both. But our agents prequalify people before they choose which company to apply with. They aren't going to write an app on someone who obviously won't qualify with that company. Around 85% placement.

We have more not takens due to people just deciding not to buy the insurance than we do with underwriting declines.

The nice thing about having great rates is retention. Our 13th month retention with both Trinity Family Benefit and KSKJ is over 90% agency wide. And many agents have 95% retention. I just don't feel that that it's possible if you sell companies that are 10 to 15% higher in premium. So even though those companies start agents at higher commission levels if the persistency is much lower you lose the benefit of the higher commission.

 

[indiana260]

I became pretty wealthy selling on price. Never felt I needed to know anything different. I've never set out to be the worlds greatest salesman. But somehow I've earned many sales awards. I'm nearing my 40th company convention. I've been a member of MDRT for many years when I was in the field. I've earned presidents club with several companies. Now my agency is or has been the #1 IMO in the country (competing against much, much larger IMOs) with three of the more competitively priced Final Expense companies Oxford in recent past, Trinity - currently and KSKJ- currently.

So I would say yes, I have always sold companies that offer a better price/value and if that makes me a weak salesman, I can live with that.

Agents call me up all the time and asked me what's the underwriting niche for Trinity/ Family Benefit or KSKJ? I tell them those companies have the most common niche you run across on your appointments. The niche is: people who prefer to get more death benefit for the amount of monthly premium they are paying.

The excitement from both Jeff Root's agents and James Campbell's agents about getting Trinity recently doesn't come from being excited about "living benefits" or other gibberish that agents pitch. It's excitement because they can now offer a lower price than that could before. It's real! It's an advantage. And your customers are actively looking for it.

I'll end by saying I'm not on here insulting or shaming agents who want to sell other companies for whatever reason you have. But you make it easier for agents who lead with more competitively priced companies. That's simply a fact. It's not to say you are doing something wrong. But the further away you get on premium to what the customer can find elsewhere the more chance you have of them canceling on you. Or not buying in the first place -also known as the old I'm going to think about it.

The excitement for me with Trinity is

1. I like Alvin
2. I like the company as they are extremely easy to work with
3. Their telesales process is as easy and fast as they come
4. True SS billing
5. Price- We will make an extra sale or two by beating someone's price here or there.

I was a f2f price guy for many years. I was shocked when we started a call.center with North Star and our policies stuck on the books just as good as the Trinity policies stuck in f2f. I would have bet $1,000,000 that would not have been the case but it was.

 

[rousemark]

It's very high with both. But our agents prequalify people before they choose which company to apply with. They aren't going to write an app on someone who obviously won't qualify with that company. Around 85% placement.

We have more not takens due to people just deciding not to buy the insurance than we do with underwriting declines.

The nice thing about having great rates is retention. Our 13th month retention with both Trinity Family Benefit and KSKJ is over 90% agency wide. And many agents have 95% retention. I just don't feel that that it's possible if you sell companies that are 10 to 15% higher in premium. So even though those companies start agents at higher commission levels if the persistency is much lower you lose the benefit of the higher commission.

Just curious, if you sell on price how come you never mention Standard Life and Casualty?

 

[Newby]

Just curious, if you sell on price how come you never mention Standard Life and Casualty?

We do. That's one of our carriers. They just won't approve as much as the other companies.

 

[rousemark]

We do. That's one of our carriers. They just won't approve as much as the other companies.

Yeah, I knew you had them. Shouldn't they be the go to for insulin dependent diabetes with no complications?

 

[DonP]

Newby failed to mention Trinity and Kskj take tons of ailments at great prices many carriers won't place. Trinity will take far far apps level than American amicable. Trinity is an A-1 carrier and super easy to do business with.

 

[Newby]

Yeah, I knew you had them. Shouldn't they be the go to for insulin dependent diabetes with no complications?

They are too unpredictable to be a main. All of our agents make 5% more on them than they do on KSKJ. And they are free to write any company they want. Yet KSKJ gets 10x more apps than Standard Life. There is a reason they choose to do that.

 

[Newby]

Newby failed to mention Trinity and Kskj take tons of ailments at great prices many carriers won't place. Trinity will take far form apps level than American amicable. Trinity is an A-1 carrier and supper easy to do business with.

True. I was told by an agent yesterday that his large IMO tells agents that Trinity is an awful company and will try to steal their downlines if they appoint their agents with it. Ha, ha! The BS tactics people will use to push other companies.

If they just offer both on an even playing field (but with higher commissions on the higher priced companies) the agents will still end up favoring Trinity. Some IMOs have to learn the hard way. Why drive against traffic? Go with the flow. It makes life easier.

 

[somarco]

OK someone asked me how to finds clients to call outside of starting a the As in the *file cabinet.

I worked with a guy who couldn't find anything in the filing cabinet without reciting the alphabet.

Hey, Bill get me the Harry Thomas file.

OK . . . A B C D E . . . .

To make matters worse he pulled out every drawer until he got to the T's.

We show Daisy Mae as the primary beneficiary.......

More fodder for the old guys file