Howdy, New Guy to FE Market Here

[theresthatguy]

Hello!

When I first learned about residual income, the idea changed my life. I found it with MLM but that wasn't for me. Now, here I am in desperate need to pay of student loans before I die an old man, find myself diving into the world of FE with a captive agency that I will no longer be moving forward with.

I am researching around this forum to find the best independent solution for me. Once I climb out of this hole I have currently dug, I'll go with one the suggested IMOs here I've been reading about. I've been enjoying a lot of the content that I've seen so far.

One thing, I wanted to ask was about the talk of "80-115% contracts". Does this mean for instance an 80% contract would be 80% X AP = Upfront Commission? Thanks in advance.

 

[Newby]

Hello! When I first learned about residual income, the idea changed my life. I found it with MLM but that wasn't for me. Now, here I am in desperate need to pay of student loans before I die an old man, find myself diving into the world of FE with a captive agency that I will no longer be moving forward with. I am researching around this forum to find the best independent solution for me. Once I climb out of this hole I have currently dug, I'll go with one the suggested IMOs here I've been reading about. I've been enjoying a lot of the content that I've seen so far. One thing, I wanted to ask was about the talk of "80-115% contracts". Does this mean for instance an 80% contract would be 80% X AP = Upfront Commission? Thanks in advance.

The average street level commission with final expenses 115% first year. So you take their monthly premium amount times 12 and that is the annual premium. (with some companies it will vary slightly) then multiply that annual premium amount by 1.15 to get your first year commission amount. Then multiply that figure by .75 to get the amount that they will advance you right up front when you make the sale.

The other parts with most companies are paid to you in months 1011 and 12 for the remainder of the first your commission renewal commission start in month 13.

----------

And whoever's telling you 80% contracts would be the norm that's not the norm. 100% would be the very lowest companies but most are one 115%. Some are 120%.

Check out the facts contracting.com website to learn more about what we offer.

 

[Rearden]

The average street level commission with final expenses 115% first year. So you take their monthly premium amount times 12 and that is the annual premium. (with some companies it will vary slightly) then multiply that annual premium amount by 1.15 to get your first year commission amount. Then multiply that figure by .75 to get the amount that they will advance you right up front when you make the sale.

The other parts with most companies are paid to you in months 1011 and 12 for the remainder of the first your commission renewal commission start in month 13.

----------

And whoever's telling you 80% contracts would be the norm that's not the norm. 100% would be the very lowest companies but most are one 115%. Some are 120%.

Check out the facts contracting.com website to learn more about what we offer.

The link to Facts Contracting corrected - the rednecks are rubbing off on you.

I also have a Final Expense YouTube Channel to help new agents to final expense as well.

 

[theresthatguy]

And whoever's telling you 80% contracts would be the norm that's not the norm. 100% would be the very lowest companies but most are one 115%. Some are 120%.

No one said it was the norm. It's just a number I've seen a couple times in mention with certain mentors here that start off their agents off at that lower percentage. Then on the opposite end of the spectrum, I read through quite a bit of your site Scott and saw the 115%, which is where I came up with that range of 80-115. Lots of great info on your site that I wish I had ever read before getting my license but whatever.

I was also wondering how you guys do the quotes. Right now I use a laptop with installed software for use offline. Everything I've read indicates that I'll need to be connected to the internet in people's homes. I do have a smart phone but I don't get reception everywhere and I don't have a hot spot on my plan either.

----------

I also have a Final Expense YouTube Channe to help new agents to final expense as well.

I've already watched 5 or 6 of your videos! I enjoy the way you speak and how you present yourself.

I spent the past 3 days or so lurking on this forum before I registered.

 

[Rearden]

No one said it was the norm. It's just a number I've seen a couple times in mention with certain mentors here that start off their agents off at that lower percentage. Then on the opposite end of the spectrum, I read through quite a bit of your site Scott and saw the 115%, which is where I came up with that range of 80-115. Lots of great info on your site that I wish I had ever read before getting my license but whatever.

I was also wondering how you guys do the quotes. Right now I use a laptop with installed software for use offline. Everything I've read indicates that I'll need to be connected to the internet in people's homes. I do have a smart phone but I don't get reception everywhere and I don't have a hot spot on my plan either.

----------



I've already watched 5 or 6 of your videos! I enjoy the way you speak and how you present yourself.

I spent the past 3 days or so lurking on this forum before I registered.

Good deal - most of the final expense agency outfits that participate on the board are "good people" that are current producers and care about training agents to succeed in the final expense business, so you are in good company.

 

[Newby]

No one said it was the norm. It's just a number I've seen a couple times in mention with certain mentors here that start off their agents off at that lower percentage. Then on the opposite end of the spectrum, I read through quite a bit of your site Scott and saw the 115%, which is where I came up with that range of 80-115. Lots of great info on your site that I wish I had ever read before getting my license but whatever. I was also wondering how you guys do the quotes. Right now I use a laptop with installed software for use offline. Everything I've read indicates that I'll need to be connected to the internet in people's homes. I do have a smart phone but I don't get reception everywhere and I don't have a hot spot on my plan either. ---------- I've already watched 5 or 6 of your videos! I enjoy the way you speak and how you present yourself. I spent the past 3 days or so lurking on this forum before I registered.

You won't need a laptop. Most of our agents use this quoter. http://fexcontracting.com/fex-quoting/

He will get free unlimited use of that version want you're contracted. There's also a paid version with more features that a lot of agents subscribe to. But you will want to carry rate sheets for each company and your presentation binder in case you don't have cell phone service.