Life Insurance Brokers - Anyone Hiring for Remote Telesales?

May 28, 2017

  1. JohnnyRain
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    JohnnyRain New Member

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    Yeah. Thing is I'm going back to school using a Post 911 Gi Bill. So I need to be part time. A lot of companies don't like that. Maybe I should be a field agent. That sounds more fun anyway.
     
  2. jeremyadam
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    jeremyadam New Member

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    In my mind it comes down to terminology. When you say "hired" are you talking about a w2 income job or a 1099 contractor position? Are you willing to pay for leads, licensing, phone, and other office expenses? If you are, you will have a lot more opportunities and flexibility. For what you are doing with college it would be ideal to be an independent contractor and work when you want. This will generally require purchasing leads of some sort or taking a lower commission through your agency or IMO. The way I am set up, I get high commissions but I have to buy my own leads. This is the most equitable way to do it in my opinion. Just don't over pay for leads or take a crummy commission level. Just be diligent.
     
  3. Pz951
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    Pz951 Expert

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    I've also been considering signing with Lifetel but the initial money upfront and the information about them isn't so desirable. Whats your opinion on them?
     
    Pz951, Oct 26, 2017
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  4. Pz951
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    Pz951 Expert

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    Pz951, Oct 27, 2017
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  5. JRoot
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    JRoot Guru

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    Everything. You're one on one with our sales manager daily until you feel comfortable with our systems. That includes scripting, product training (field uw, taking apps, quoting etc), crm/technology training and working our system successfully. He listens in on calls and provides feedback until you're hitting all your benchmarks.

    This is true. The alternative of buying leads and receiving full comp has a very low success rate though. And that's because agents don't have enough runway to make their lead buying profitable.

    Life insurance telesales is a cash flow business more than anything else. Fully underwritten policies take 4-6 weeks to get approved, then you need to place it and then get the commission deposited - so 6-8 weeks after you submit an app on average? This doesn't factor in how long it took to sell the lead, placement % and if it's paid 75% advanced or as-earned. Lots of variables.

    I say this to illustrate the point that most agents can't buy leads (or enough leads) before they finally start to become profitable, so taking a reduced comp isn't as bad as it sounds. Use that as a spring board into going independent. It's what I did 7 years ago.
     
    JRoot, Oct 30, 2017
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  6. CALTCAgent
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    Maybe you are talking about new agents. I can't see that this should be the reason for many experienced agents that have had success.

    I mean a good investment is a good investment even if it takes time to cash flow. Many businesses take a long time to cash flow.

    To me the benefit of the Life Insurance Telesales FMO would be the experience/knowledge since it is a unique way to sell.
     
  7. FE365
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    FE365 Expert

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    Can an agent make 75-100k on your free leads and reduced comp?
     
    FE365, Oct 31, 2017
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  8. JRoot
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    Yes. Our top agents are pacing to make over $100k in our VSA program.
     
    JRoot, Nov 3, 2017
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  9. FE365
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    Whats the persistency look like?
     
    FE365, Nov 4, 2017
    #19
  10. JRoot
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    It's high. Last check on our main instant issue term to $500k had over 94% 12 month persistency. Higher on anything fully underwritten. Lower on anything FE.
     
    JRoot, Nov 7, 2017
    #20
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