Final Expense vs Term Insurance Sells via Phone

[shooter]

There was a time, in the past where everyone was marketing term
insurance online or via phone sells.

Now, it seems that Final Expense is the route that most people are
getting into.
Commissions are higher, maybe it is easier to place a case.

120% Final Expense or more versus 90% to 100% on term,
plus, not getting paid for the policy fee on a lot of term products.
could contribute as well.

Is there less competition now for term sales?
Thinking out loud as I look to move in one direction are the other.
Final Expense vs Term.

Shooter

 

[theinsuranceman]

There was a time, in the past where everyone was marketing term
insurance online or via phone sells.

Now, it seems that Final Expense is the route that most people are
getting into.
Commissions are higher, maybe it is easier to place a case.

120% Final Expense or more versus 90% to 100% on term,
plus, not getting paid for the policy fee on a lot of term products.
could contribute as well.

Is there less competition now for term sales?
Thinking out loud as I look to move in one direction are the other.
Final Expense vs Term.

Shooter

Final expense pays fast.
Term pays slow.

 

[Tahoe Ray]

There was a time, in the past where everyone was marketing term
insurance online or via phone sells.

Now, it seems that Final Expense is the route that most people are
getting into.
Commissions are higher, maybe it is easier to place a case.

120% Final Expense or more versus 90% to 100% on term,
plus, not getting paid for the policy fee on a lot of term products.
could contribute as well.

Is there less competition now for term sales?
Thinking out loud as I look to move in one direction are the other.
Final Expense vs Term.

Shooter

As theinsuranceman said, comp and speed (simplified term can pay fast but is pricey and even no exam stuff can require APS/phone interviews etc.) are two reasons.

Another one is the availability of leads.

 

[billyb]

Years ago I sold a lot of term over the phone. I was affiliated with TermProvider. Leads were cheap and exclusive. Cost skyrocketed and leads are sold to multiple agents. If you are the first agent who calls you have a chance but if you are the 5th get ready for an earful. I would not want to sell term or FE by phone now.

 

[goillini52]

As theinsuranceman said, comp and speed (simplified term can pay fast but is pricey and even no exam stuff can require APS/phone interviews etc.) are two reasons.

Another one is the availability of leads.

Integrity sells term leads.

 

[Tahoe Ray]

Integrity sells term leads.

I'm sure they do.

You can certainly buy them, but acquisition costs and quality are not as strong as FE (from my understanding).

 

[goillini52]

I'm sure they do.

You can certainly buy them, but acquisition costs and quality are not as strong as FE (from my understanding).

I haven't bought any, but they seem to have a lot more term than FE.

 

[walthamny]

WIth a 72 year old, you dont have to argue if they are going to die or not. They attend a funeral of someone they know every month. Its sometimes timing, but you call someone who has come back from a funeral, its easier to close. For a 32 year old, they have no plans to die, they do not want to pay more than walmart prices because they are buying something that is not urgent or needed. And they rarely attend any funerals in their daily lives.

 

[jdeasy]

There was a time, in the past where everyone was marketing term
insurance online or via phone sells.

Now, it seems that Final Expense is the route that most people are
getting into.
Commissions are higher, maybe it is easier to place a case.

120% Final Expense or more versus 90% to 100% on term,
plus, not getting paid for the policy fee on a lot of term products.
could contribute as well.

Is there less competition now for term sales?
Thinking out loud as I look to move in one direction are the other.
Final Expense vs Term.

Shooter

Two completely different markets. Which one can you get leads for? Doesn't matter if you have 200% contracts with no one to sell.