Finding Info on Selling Final Expense by Phone

[myinsurebiz]

Re: Finding Info. on Selling Final Expense by Phone

When it comes to selling over the phone, Senior Life really does have it figured out.

Their rates are way to high. They pay crumbs on their modified and easy issue plans. They have a "pass through" account that takes 20% of your advance commission - and you will never see it.

They do have phone sales down - but why sell for 80 or 90% when you can make 100 - 115% ?

Good luck tho . . .

I don't do phone sales myself, I believe in face to face BUT if you want to do phone, Assurant is rolling out their online enrollment next month. You sell over the phone, do a 3-way call for the health questions, INSTANT approve or decline.

You hit send on your computer and the policy gets issued. No mailing, no wet signature.

I have a good contract on them and can put most agents at a 115% contract with 8% renewals for life. If you have proof of high production, I can give you a higher contract.

Assurant? Interesting.

My FMO called Baltimore Life and I was told that Baltimore Life only does phone sales IF you have a dedicated call center with supervision. Otherwise you still need a signature. If this is not true, please elaborate.

Depends. There are only a few select groups that can sell it over the phone. I thought you and I talked already?

Tom

 

[insuragent]

Re: Finding Info. on Selling Final Expense by Phone

My FMO called Baltimore Life and I was told that Baltimore Life only does phone sales IF you have a dedicated call center with supervision. Otherwise you still need a signature. If this is not true, please elaborate.

I called today, they did not tell me anything like that. You have to do In-Speed and do a webinar. They have 3 coming up over the next 3 weeks.

 

[medicarebenefitsdirect]

Re: Finding Info. on Selling Final Expense by Phone

Their rates are way to high. They pay crumbs on their modified and easy issue plans. They have a "pass through" account that takes 20% of your advance commission - and you will never see it.

They do have phone sales down - but why sell for 80 or 90% when you can make 100 - 115% ?

So, you are saying they do not pay the money they owe you? Why do you say this? Have you had experience with Senior Life. I have actually heard a lot of good things about them from several people who currently use them...just curious about your experiences...

 

[Todd King]

Re: Finding Info. on Selling Final Expense by Phone

I definitely have experience with this. What he's talking about with the Pass-Through is the first year's residual commissions after the advance is paid out. They do it differently (better) at Senior Life. It's a 65% advance and the rest is paid out in months 7-12. Here's the important part, though: any chargebacks you encounter will be paid out of the pass-through account from the sales that stay on the books. This means that they do not take a full chargeback out of your next advance check. They just look to the 7-12 month, as earned residuals to recover any chargebacks. This is because this insurance company is owned by agents that spent 17+ years in the field selling final expense.

The family (Powell's) that own the company are invested with their own "blood, sweat and tears" into the company and, as such, are not going to give away the store with premiums too low to substantiate the business or risky investments in their reserves to go out of business - both of which we've seen of late. They're also not going to sell the company out from under the agents that have brought it to where it is.

Say what you will, but you'll have no expertise from which to form an opinion on doing final expense by phone until you, yourself, are invested enough to try it. By reaching 3 to 5 times the number of seniors you could in an ordinary day (with most of that spent driving) in the field, you'd be amazed at what you can accomplish!


Christopher Westfall
www.FinalExpenseByPhone.com

So you are substantiating this by using the example of one company (Shenandoah) out of the many companies that are out there. Hmmm, not a valid argument.
The second thing is, do you really think you (and Senior Life) are the only ones out there that sell FE by phone? Your assumptions are making you look ignorant of the world around you.

 

[Todd King]

Re: Finding Info. on Selling Final Expense by Phone

Wow, no I don't make assumptions, sir.
There were six companies doing final expense by phone, now there are about two. This company has it figured out. That's not an assumption, but my personal experience - which is what we're on this board to share. Not sure where the hostility comes from.

It's not hostility, sorry if it came across that way. I just wondered how you assumed that the person to whom you were replying has no experience in selling by phone.
So what are the two companies selling by phone now?

 

[insuragent]

Re: Finding Info. on Selling Final Expense by Phone

Assurity kind of sells by phone.

 

[gprosperity]

I work for both Lincoln and Senior Life and I have done both in the field and by phone. I much more prefir by phone, for several different reasons, one you do not have to drive and spend gas all day, and two in the time it takes a agent to meet with five people during the course of the day I can close more people and talk to more people, and sales is all a numbers game, the more people you talk too the more people you can close.

 

[SeniorInsuranceGuy]

Re: Finding Info. on Selling Final Expense by Phone

I just called Oxford and they said all their plans must be sold face to face. Help? I'd be interested in this and am in California

 

[Daytona_Guy]

Re: Finding Info. on Selling Final Expense by Phone

We represent both Foresters and Oxford and both allow sales over the phone. Give me a shout if you want more info.

{removed old links that are no longer valid}

Better to sell medicare supplements by phone.

 

[maroonman]

I am interested in Final Expense Telesales. I want feedback on them, good or bad. Thanks.