Getting Sick of FE.....

Discussion in 'Final Expense Forum' started by Ksutton, Aug 6, 2017.

  1. Ksutton
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    Ksutton Well-Known Member

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    Hello,

    Been a while since I've posted. Anyways... FE has been financially fruitful for me. I'm just getting sick of the people, the smoke, the driving, the smells, etc.... Anything out there to transition to, from FE, that is just as financially beneficial and with the same amount of freedom?
     
  2. Newby
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    Newby Well-Known Member

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    Med sups, traditional life sales to businesses, open a brick and mortor office, P&C would be 4 that come to mind.
     
  3. SPUR CITY
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    SPUR CITY Well-Known Member

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    Mortgage protection is where I came from. They are people with jobs typically who just bought a mortgage or refinanced and middle class and above normally. If you did med supps only you would probably take an income hit.
     
  4. rousemark
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    rousemark Well-Known Member

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    Supplemental health such as Cancer, CI.... Wider prospect pool, especially on the cancer.. Basically ages 18-85 (depending on the company) and if they haven't had cancer HIV?AIDS they qualify. Decent first year commission and much better renewal income possibilities. You will probably have to learn new prospecting methods as I don't know of anyone making it with DM for cancer. Might be possible but I just don't know of anyone who has seriously tried it.
     
  5. Newby
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    Newby Well-Known Member

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    Thats a concern if you are starting fresh. But a guy who already knows how to sell FE will still sell a tom of FE to his Med Sup people. Even though they are a little higher end they still buy AARP, or having crashing ULs or take horrible offers through their employer.
     
  6. ExProgrammer
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    ExProgrammer Well-Known Member

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    Do they tend to buy higher face value policies than regular FE prospects?
     
  7. KRobby
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    KRobby Well-Known Member

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    Surprised you didn't mention preplans at a funeral home! Or maybe that's not recommended for kenny.

    Wonder what niche market approach typical sees the overall highest sale/lead %, FE, MS, or MP.
     
  8. Broker4Ever
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    Broker4Ever Well-Known Member

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    I have sold MP & FE and will tell you from my experience that the closing percentage per lead is about the same.

    Now, profitability is a different story. The business model of MP is by far more profitable than FE because of the higher life premiums, most are couples , & most importantly the annuity roll overs. My manager back in my MP days made over 100k per year off cross selling annuities ALONE (& not including trails).

    Problem is MP IMO's are popping up every 5 minutes so leads are SCARCE. The real MP demographic is peanuts compared to FE. Most MP IMO's will bait & switch agents into selling FE after awhile. Which is how I got introduced to final expense! :cool: LOL.
     
  9. KRobby
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    KRobby Well-Known Member

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    Yeah, I'm not sold on using MP for annuity rollovers...although I'm sure there's some doing well. First, the regulation is tougher now on qualified money. Plus I don't see the MP demographic as having large enough balances to be close to the prime demo for annuities other than small account job changers. (and then you have the age issue with that if using annuities to fund qualified $)

    Your change to fe makes sense!

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    Also this thread got me thinking, I'd imagine MS on the other hand would be be the King of cross sales. One of these years I'll have to learn that line.
     
  10. Newby
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    Newby Well-Known Member

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    When it's coming from a crashing UL they are often very large. On the others it's mostly $50 to $100 monthly.

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    Preneed would be another good choice. Not many preneed agents come from the insurance world though. It would be a natural for an FE agent looking for a more professional enviroment and clientel. You give up a lot of independence and freedom though.
     
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