It Began on October 3, 1977

[billyb]

I was a 20 year old who didn't want to go to college so since my Dad had always made a good living in the insurance business I decided to join him as a debit agent with Liberty National Life. Went door to door collecting premiums and selling mostly life and cancer polices. The first full year I was there I made $19,922. Lots of money in 1977 for a 20 year old with no college degree.

Look back 40 years and wish I had done some things differently. Left Liberty National after 14 years. Sold in numerous markets since. Made a good living, but I am not rich. Saved some money and spent most of it on educating my kids and getting them married. Going to start receiving SS at 62. At 65 will get a pension and start taking distributions. Will work at least part time till I am not able to do it any longer. Life is good.

 

[ncaggie]

I was a 20 year old who didn't want to go to college so since my Dad had always made a good living in the insurance business I decided to join him as a debit agent with Liberty National Life. Went door to door collecting premiums and selling mostly life and cancer polices. The first full year I was there I made $19,922. Lots of money in 1977 for a 20 year old with no college degree.

Look back 40 years and wish I had done some things differently. Left Liberty National after 14 years. Sold in numerous markets since. Made a good living, but I am not rich. Saved some money and spent most of it on educating my kids and getting them married. Going to start receiving SS at 62. At 65 will get a pension and start taking distributions. Will work at least part time till I am not able to do it any longer. Life is good.

What would you have done differently? Any advice for us in our youth that's struggling?

 

[billyb]

As far as the insurance business goes I would have sold many more Medicare Supplements along the way. After I lost over half of my renewal income in 2001 I quit targeting that market.
What I really should have done is get an education before I began my career. A lot of the people that I graduated high school with are retiring now with as much monthly income as I make working.

 

[SammyJ]

I bet 20% of Fe not on the books in 5 yrs due to either death and taxes .Obviously as cell phone use has exploded and land lines die getting people to answer the phone getting tougher . I door knock a lot and I've noticed more and more people who are home not answering the door . My appt setter has been calling nationwide for 5 yrs and is pulling her hair out. Throw in reduced dm response rates and it will be much tougher as the yrs go on .Ive slowly been making the move to med sups the last yr . Obviously some parts of the country easier than others.

 

[billyb]

I posted last week asking about under age 60 leads. You said I ask stupid questions, but when almost half of the leads you receive are in this age bracket I was concerned. I have door knocked, called myself and had my appointment setter call and I still have 100 leads that I haven't contacted. My setter has set 5 appointments in 2 weeks and I sold 1, a GI with Gerber. Yesterday pulled up to this $1M beach home in PC. The man thought it was something for free. Mailer was misleading in his opinion.

 

[SammyJ]

You were asking a question you have no control over .If you mail 55-79 and 90% of the leads are under 60 there's nothing you can do . I'm making a factual observation on what I'm seeing on the ground and how things have changed. I was responding to how you've seen a change in 40 yrs . I don't care if the leads 55 or 75 people are more and more not answering the phone or door . It's irrelevant why . It's the cards we are dealt . We either find a solution ,another line of insurance or exit the business .

 

[billyb]

I have worked 4 days this week in the field trying to make contact with these leads. Only managed to write 3 policies, 2 GI and a GDB with Assurity. Last week I saw a 66M in Destin on Tuesday who was hooking up his boat to go offshore. Said he was interested and to check with him today. He fished 2 days and then was going out of town for a few days. I stopped by today and his wife was out in the yard. She told me another agent stopped by earlier this week and sold him a $200,000 Midland National GUL for $412 monthly. My heart sank like a rock. I really needed a sale like that. Don't reply with comments about how you could replace what he bought because you can't. All I can hope for is he will let me submit an application to Lincoln National and see who comes back with the lowest rate. The MN agent quoted P+ and I am not sure he can qualify for that because I don't write with them. I think LN is more aggressive.

 

[jdeasy]

I have worked 4 days this week in the field trying to make contact with these leads. Only managed to write 3 policies, 2 GI and a GDB with Assurity. Last week I saw a 66M in Destin on Tuesday who was hooking up his boat to go offshore. Said he was interested and to check with him today. He fished 2 days and then was going out of town for a few days. I stopped by today and his wife was out in the yard. She told me another agent stopped by earlier this week and sold him a $200,000 Midland National GUL for $412 monthly. My heart sank like a rock. I really needed a sale like that. Don't reply with comments about how you could replace what he bought because you can't. All I can hope for is he will let me submit an application to Lincoln National and see who comes back with the lowest rate. The MN agent quoted P+ and I am not sure he can qualify for that because I don't write with them. I think LN is more aggressive.

I wonder why so many agents are driving into such a poor return area?

I wonder how so many competing agents are getting leads in such a poor return area?

Reminds me of my EFES days. They stopped mailing my favorite county because the returns were so bad. They really didn't even want to mail Ky and preferred I work Indiana. So I did.

Now 4 years later I get more leads in my favorite county than I can work. I never get leads in Indiana as they don't need to mail Indiana for me.

I still work Indiana sometimes, including today, because I have so many clients there from my EFES days. I get referrals from them and I have a little service work to do.

It's odd how different mail houses get far different results in the same areas.

 

[billyb]

Never said I had a problem getting my weekly lead order filled or that this was a poor return area. I have stated that I receive more under age 60 leads than I would like, but little can be done about that. I also don't know why so many agents work the panhandle. Didn't know that many did until I started working DM 6 months ago.

 

[KRobby]

The man thought it was something for free. Mailer was misleading in his opinion.

It is free, unless you charge for advice! #upfrontfeesftw

Are you talking price at the door?

As far as the insurance business goes I would have sold many more Medicare Supplements along the way. After I lost over half of my renewal income in 2001 I quit targeting that market.

Wow that really sucks, I can see why you'd shy away after that.