- 2,103
The more I look into it, the more questions I have. Something is strange about this somehow.
How is it strange? What questions do you have? They target middle america subdivisions and start knocking on doors..
Blackops44
Expert
- 42
Rouse can you forward me that info? Thanks
- 2,103
They seem to want to add a return of premium rider to everything, if the client wants it or not.
- 1,183
I talked to a manager for them about 10 years ago when I was trying to break into the business. They have some kind of connection with Combined Insurance, except IIRC with FH you are an independent contractor as opposed to W2 status with Combined.
Home Service is right with regard to ROP.
Home Service is right with regard to ROP.
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I am not sure about the Combined connection, I think you are mixing them up with Sterling, who did have a connection there. At any rate, that return of premium thing seemed to make the premiums go through the roof, it's a nice benefit but expensive, seems to me.
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agreed, we should. maybe time the time.
- Thread starter
- #18
- 114
Well I did take the job and the small business thing was a line of bull. The training was all about door knocking and when I got back and went out with my manager he told me residential would now be the main focus. I guess he wanted me to think the company changed their mind on the business thing. Could have been the case but who knows. Door knocking was not my thing at least not cold door knocking.(no leads) I went back to auto sales but now want to give it another shot. I'm thinking FE this time but would like to start part time at first so I can use my auto sales commission to help purchase leads. After some research sounds like EQUITA could be a good place to start. Not sure if they would be ok with the part time at first or not. Came across some videos from a Regional Manager named Joe Cicciao which peaked my interest. Anybody know anything about him?
- 1,183
There is a definite Combined connection that IIRC goes back beyond when Combined was connected with Sterling. The interviewer (who had been with Combined, as had I) told me that it was some kind of a spin-off from Combined. Hence, the similar marketing and focus on supplemental products. Combined focuses on businesses door to door, FH on door to door residential. (But in more rural areas Combined can end up being residential door to door as well.) If it wasn't a spin off of Combined, at the least there are many people who work there that were previously at Combined.
This is but one link I found when Googling with FH and Combined in the search box: Jarnot, Schmidt and Thurber Join Family Heritage| Family Heritage Life Insurance
Do that and you'll wonder who works there that wasn't previously employed by Combined.
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I see Family Heritage has a new owner--
Torchmark's Acquisition Of Family Heritage Life Insurance Is Nice Little Addition - Seeking Alpha
I put these companies on about the same level as Torchmark's so it just might fit like a glove.
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A manager for one of these companies lying through his teeth? Whoda thunk it? Cold call door knocking is pretty much their sole marketing strategy, at least so far as prospecting on the agent's part is concerned.
I don't know about FH (which perhaps doesn't spend the $$ upfront on the agent) but when you tell them you're quitting Combined after the lies have been exposed, they respond the way some overbearing cult would respond. That's admittedly a bit of an exaggeration, but they try to guilt you into staying. (This is based on my experience as well as that others have reported to me.)
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rdsoxfan58
Expert
- 23
I've been with Family Heritage 6 years so let me clarify a few of the questions/concerns here.
Family Heritage is not associated with Combined Insurance. They are both supplemental insurance that sell policies that pay money to people based on the illness/accident. Several old Combined agents have joined FH because of better commission structure, lifetime residual income, and a company that pays claims.
FH markets the products in several ways and each group can decide based on the market/candidate which is best. Most people are taught to cold call residentially first because this is the best way to get in front of many people quickly. A new agent can come out of training and make $1000 a week by selling a policy a day. B2B is a harder sale which I personally train once someone can sell well residentially. Ultimately the goal is to develop a referral based business which is by appointment only.
Commissions start at 30% for most people and can go up to 60%. Renewal is 2-7%. Someone who sells 1/day in their first year will make around $65K plus bonuses. After 2-3 years, that same sale/day and the individual will make over 100K when you factor in the residual. An agent a,so has the ability to build their agency immediately and earn overrides 5-20% and 1-7% residual. Agents also get TMK stock which grew nearly 100% in 2013.
Here's what I like- I'm independent but I have a lot of support locally and nationally. Underwriting is easy and FH is super fast and easy to get claims paid. I don't have to worry about telling a client something and wondering if FH will do what they say. I like that I only have to deal with 3 policies and that I make a very good income by selling 5-7 policies a week. I like that it's a 30-45 minute one close sale and easily generates referrals. I like the ROP because I have extremely good persistency with my business staying on the books. And the rates aren't much different from like Aflac's cancer policy which isn't ROP.
But it's not for everyone. You have to work hard initially to build your client base and build a completely referral based business. Leads aren't provided because you are taught how to get your own hence the reason why you have the ability to make more money. Two agents left my agency a year ago to work with two other national insurance companies (Conseco and NY life). Both just returned to my agency because they can make a lot more and are 100% vested in the lifetime renewals.
Family Heritage is not associated with Combined Insurance. They are both supplemental insurance that sell policies that pay money to people based on the illness/accident. Several old Combined agents have joined FH because of better commission structure, lifetime residual income, and a company that pays claims.
FH markets the products in several ways and each group can decide based on the market/candidate which is best. Most people are taught to cold call residentially first because this is the best way to get in front of many people quickly. A new agent can come out of training and make $1000 a week by selling a policy a day. B2B is a harder sale which I personally train once someone can sell well residentially. Ultimately the goal is to develop a referral based business which is by appointment only.
Commissions start at 30% for most people and can go up to 60%. Renewal is 2-7%. Someone who sells 1/day in their first year will make around $65K plus bonuses. After 2-3 years, that same sale/day and the individual will make over 100K when you factor in the residual. An agent a,so has the ability to build their agency immediately and earn overrides 5-20% and 1-7% residual. Agents also get TMK stock which grew nearly 100% in 2013.
Here's what I like- I'm independent but I have a lot of support locally and nationally. Underwriting is easy and FH is super fast and easy to get claims paid. I don't have to worry about telling a client something and wondering if FH will do what they say. I like that I only have to deal with 3 policies and that I make a very good income by selling 5-7 policies a week. I like that it's a 30-45 minute one close sale and easily generates referrals. I like the ROP because I have extremely good persistency with my business staying on the books. And the rates aren't much different from like Aflac's cancer policy which isn't ROP.
But it's not for everyone. You have to work hard initially to build your client base and build a completely referral based business. Leads aren't provided because you are taught how to get your own hence the reason why you have the ability to make more money. Two agents left my agency a year ago to work with two other national insurance companies (Conseco and NY life). Both just returned to my agency because they can make a lot more and are 100% vested in the lifetime renewals.
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