Is my 60% Contract Worth It?

[FinalExpenseDojo.com]

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[DHK]

You received training and you've got a discounted lead program that is attributed to your success.

Could you prospect without that lead program? Who else would you see?

120% contracts have no handholding and no leads. Agents are truly independent and either do their own prospecting, use their own lead program, or buy leads through 3rd parties.

Having required daily meetings is odd for an IMO. (The "I" in IMO stands for Independent, meaning you set your own schedule. Otherwise, you're just working for an agency that offers multiple selling contracts and you're "captive" to them.) I'd schedule appointments instead and if they ask where you are, just say "I took an app." You could probably double your production if you could set morning selling appointments.

BTW, I fill out my own apps.

You're successful. I wouldn't necessarily rock the boat, unless you could replace everything they were supplying for you.

 

[FinalExpenseDojo.com]

By the way, here's some examples of my contract...

MoO FE: 61%
MoO TLE: 65%

American amicable SI term: 70%
American amicable FE: 65%

Transamerica lb: 50%
Trans FE: 55%

UHL FE: 50%

Phoenix SH Express: 60%

Americo Hms 125: 70%
Americo Eagle FE: 55%

North American GUL: 65%
North American builder IUL : 65%
North American 20 term: 70%
30 term: 80%

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You received training and you've got a discounted lead program that is attributed to your success. Could you prospect without that lead program? Who else would you see? 120% contracts have no handholding and no leads. Agents are truly independent and either do their own prospecting, use their own lead program, or buy leads through 3rd parties. Having required daily meetings is odd for an IMO. (The "I" in IMO stands for Independent, meaning you set your own schedule. Otherwise, you're just working for an agency that offers multiple selling contracts and you're "captive" to them.) I'd schedule appointments instead and if they ask where you are, just say "I took an app." You could probably double your production if you could set morning selling appointments. BTW, I fill out my own apps. You're successful. I wouldn't necessarily rock the boat, unless you could replace everything they were supplying for you.

Thanks for the feedback. I appreciate it. Maybe it's not a imo, I am captive to writing biz through them..

I am just thinking, if I can buy my leads on my own and get a 120% contract if I'll make more money. Or I'm wondering if it's common for agencies to give full admin support...

 

[Newby]

I have been with an IMO for 4 months or so now. I've gotten 70 clients (not including couples as 2) so far which I'm pleased with. But here's the thing, I'm working 60 hours a week! They don't give me any support with applications and pushing biz. I dial 15 hours a week for appointments, run appointments 15 hours, and do paperwork push biz and follow up 15+ hours. The rest is spent in meetings and at the office (required to be there at 9am no matter what).

I was given some really good training, which I am pleased with, but after I was out on my own my manager and IMO hasn't done anything to help me besides give me good leads.

I have a 60% contract and get $13 A leads. I have the potential to move up to 90% contract & $18 leads with high production. I'm moving to 70% at the end of the month... But My question is if they're not helping me fill out apps and push biz is this contract worth it? I hear some on this forum talk about 120% contracts. I'd be willing to take less if I can just set appointments and sell. I feel like the monkey work is a waste of my time! Thoughts??

You are in a bad place. You are paying a TON for your leads. There are several agencies right on this forum that give FE agents a fair deal. How in the world does any agent in this day and age fall for that stuff.

Let me describe what new entry level agents have at our agency and you do the comparison.

120% commissions for EVERYONE with Royal Neighbors, Oxford and Mutual of Omaha. When you count the lead credit bonuses you are at that level with SNL and 125% with Settlers.

115% commissions with most other companies.

Training- I don't know who you are with but I suspect that we offer MORE training and hand holding than you are currently getting. Agents come to us from all over and always tell us that they never had this level of training anywhere else.

Leads- Our leads are more expensive. Ours are $26 for brand new direct mail leads mailed in the counties and zips that YOU select. They say life insurance right on the lead card and you ONLY pay for leads that are between the ages of 55-79. Anyone younger or older is FREE. Blank cards are FREE.

Want cheaper leads? How about Avatars for $6.50? Live telemarketers for a little more.

I don't know how anyone in this day and age can look at all the great offerings available today and ever think that "maybe moving up to 80%" is EVER going to be attractive.

Your eyes should be opened wide by now as to what real FE agencies start their agents at. Cut bait and choose wisely this time. Check ours out here: Who we are

 

[folistin]

what agency you working with

 

[FinalExpenseDojo.com]

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[Newby]

Newby that sounds good but I'm not working FE leads. I'm doing MP. MP leads cost about $50 each. If y'all were doing MP with those contracts I'd jump on board today.

No, I'm not an MP expert. But the few policies I've sold are through Assurity and Americo and they pay at least 125% street.

You might check with Twilight here on the forum. He would be a better place for you.

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Newby that sounds good but I'm not working FE leads. I'm doing MP. MP leads cost about $50 each. If y'all were doing MP with those contracts I'd jump on board today.

I guess my other question is...why?

Do you LIKE working nights and weekends and paying that much for leads?

Come into the light. Why aren't you selling FE?

 

[Glen Shelton]

what agency you working with

I would bet $ it's Asurea.

 

[FL P&C Broker]

MP leads cost $50 to generate?

 

[goillini52]

By the way, here's some examples of my contract...

MoO FE: 61%
MoO TLE: 65%

American amicable SI term: 70%
American amicable FE: 65%

Transamerica lb: 50%
Trans FE: 55%

UHL FE: 50%

Phoenix SH Express: 60%

Americo Hms 125: 70%
Americo Eagle FE: 55%

North American GUL: 65%
North American builder IUL : 65%
North American 20 term: 70%
30 term: 80%

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Thanks for the feedback. I appreciate it. Maybe it's not a imo, I am captive to writing biz through them..

I am just thinking, if I can buy my leads on my own and get a 120% contract if I'll make more money. Or I'm wondering if it's common for agencies to give full admin support...

Must be a FMO instead of an IMO. With that contract you will be Broke4Ever.

It looks like you're posting with 2 accounts (Zeuve & Broker4Ever)...careful, that'll get you banned.