MrProvidence
Expert
- 20
I became a licensed agent in January 2002. At the time I was working for an air charter company full time and part time for a group of funeral homes doing removals (picking up bodies). While helping in the funeral homes one of the directors told me that he thought I would be very successful selling pre-need funeral plans.
I began selling pre-need funerals in March of 2002 and was an immediate succes. I sold $100,000 in the first month (note - this is not premium, it is the cost of the funerals). My annual sales was between $500,000 and $600,000 each year. After only 9 months with the original group of funeral homes, I went independent and started representing a Family Owned Funeral Home rather than corporate. Things were great and I was earning between $60,000 and $70,000 each year. But something happened.
In funeral sales, holidays STINK. You can forget pre arranged funerals being part of someones mindset during the holiday unless death is imminent, and then they needed the director, not me. We had enough money set aside to survive the holidays of 2004 and were very excited about the new year. We had partnered with the funeral home to purchase a rather extensive mailing campaign and were very anxious to reap the rewards of hard work. However, on Jan 15, 2005 I received a call that my mother, age 52, had been taken to the hospital and they thought she was having a heart attack. After a short time in the ER, it was determined that there was a mass to be concerned about. Several days in the hospital yielded grave results. My mother was diagnosed with Small Cell Lung Cancer and was given 2-6 months to live.
When my mother was released from the hospital, she came to our home so that my wife and I could aid in her care. Little did we know how involved this would be. The other family offered no assistance and we wore thin rather quickly. During the 6 weeks that mother was at our home, I could not concentrate on selling funerals. As a representative of our funeral home, I handled all the pre-arrangement and all the after-care and often assisted with other tasks. I found myself cripled at the thought of my mothers pending death and the SUBJECT of funerals gripped me with fright. After her death, I tried and I tried to pull myself up by my boot straps and MAKE IT HAPPEN. I would break down and cry in my office for no appearant reason. I hated being at the funeral home. On top of that, we went a total (including the holidays) of 8 months with no income. We never did get caught up once I started selling again. We lost the cars, the house and credit was screwed.
As a result of the above "sob story", I left the commission world in June of 2007. I hated to leave the industry, because I absolutely loved helping people, but I was crippled with fear. I began to work for another air charter company and although the pay was low, $35,000/yr - I felt like I could COUNT on that income to always be there. I never again wanted to be without SURE income. On July 21, 2008 I went to my SECURE place of employement and was informed that I was part of a "Staff Reduction". I could not believe it. I was now unemployed for the first time in my life.
Well, now to cut to the chase. My wife and I have considered our options. We have 11 children and one due in Feb. I can sit and collect my measley $362/wk from unemployement and look for ANOTHER "SECURE" job or I can put my license to work for me again and begin doing what I love - helping people. I don't wish to get back into the funeral arena as I feel that field is way to limited. I have found a broker that will allow me to sign and they will have me appointed with several top rated companies such as Golden Rule, Assurant, Humana, and others I can't even remember at this time. They will not hold me captive and every piece of business I write is "MY" book of business from the very start. There are no annoying meetings or quotas, etc... and I am very excited about the opportunity.
My contact has not promised me "pie in the sky by and by" and I know this industry requires hard work, determination and a desire to help others. Here are the numbers I was shown and I need to know from you experience folks if this is realistic. I will primarily be life and health at this point but in the future would like to add P&C.
Commission is 20% of premium (is this good?)
10-15 appts / wk
7-8 presentation / wk
3-4 apps / wk
Average premium $300/mo
3 per week x $900 x 20% = $180 x 9 mo (avg) advance = $1620 per week = $84240/yr + residuals.
Is this a realistic picture. With my experience, as I have explained it to you, is 3 apps a week a realistic expectation? Is it high? low? I need to know what you think.
Thanks for reading my sob story. I just felt you needed to know my background to give an accurate opinion.
Mike R.
Mr. Providence
THE CLOSED DOOR IS AS MUCH GOD'S PROVIDENTIAL CARE AS THE OPEN DOOR!
I began selling pre-need funerals in March of 2002 and was an immediate succes. I sold $100,000 in the first month (note - this is not premium, it is the cost of the funerals). My annual sales was between $500,000 and $600,000 each year. After only 9 months with the original group of funeral homes, I went independent and started representing a Family Owned Funeral Home rather than corporate. Things were great and I was earning between $60,000 and $70,000 each year. But something happened.
In funeral sales, holidays STINK. You can forget pre arranged funerals being part of someones mindset during the holiday unless death is imminent, and then they needed the director, not me. We had enough money set aside to survive the holidays of 2004 and were very excited about the new year. We had partnered with the funeral home to purchase a rather extensive mailing campaign and were very anxious to reap the rewards of hard work. However, on Jan 15, 2005 I received a call that my mother, age 52, had been taken to the hospital and they thought she was having a heart attack. After a short time in the ER, it was determined that there was a mass to be concerned about. Several days in the hospital yielded grave results. My mother was diagnosed with Small Cell Lung Cancer and was given 2-6 months to live.
When my mother was released from the hospital, she came to our home so that my wife and I could aid in her care. Little did we know how involved this would be. The other family offered no assistance and we wore thin rather quickly. During the 6 weeks that mother was at our home, I could not concentrate on selling funerals. As a representative of our funeral home, I handled all the pre-arrangement and all the after-care and often assisted with other tasks. I found myself cripled at the thought of my mothers pending death and the SUBJECT of funerals gripped me with fright. After her death, I tried and I tried to pull myself up by my boot straps and MAKE IT HAPPEN. I would break down and cry in my office for no appearant reason. I hated being at the funeral home. On top of that, we went a total (including the holidays) of 8 months with no income. We never did get caught up once I started selling again. We lost the cars, the house and credit was screwed.
As a result of the above "sob story", I left the commission world in June of 2007. I hated to leave the industry, because I absolutely loved helping people, but I was crippled with fear. I began to work for another air charter company and although the pay was low, $35,000/yr - I felt like I could COUNT on that income to always be there. I never again wanted to be without SURE income. On July 21, 2008 I went to my SECURE place of employement and was informed that I was part of a "Staff Reduction". I could not believe it. I was now unemployed for the first time in my life.
Well, now to cut to the chase. My wife and I have considered our options. We have 11 children and one due in Feb. I can sit and collect my measley $362/wk from unemployement and look for ANOTHER "SECURE" job or I can put my license to work for me again and begin doing what I love - helping people. I don't wish to get back into the funeral arena as I feel that field is way to limited. I have found a broker that will allow me to sign and they will have me appointed with several top rated companies such as Golden Rule, Assurant, Humana, and others I can't even remember at this time. They will not hold me captive and every piece of business I write is "MY" book of business from the very start. There are no annoying meetings or quotas, etc... and I am very excited about the opportunity.
My contact has not promised me "pie in the sky by and by" and I know this industry requires hard work, determination and a desire to help others. Here are the numbers I was shown and I need to know from you experience folks if this is realistic. I will primarily be life and health at this point but in the future would like to add P&C.
Commission is 20% of premium (is this good?)
10-15 appts / wk
7-8 presentation / wk
3-4 apps / wk
Average premium $300/mo
3 per week x $900 x 20% = $180 x 9 mo (avg) advance = $1620 per week = $84240/yr + residuals.
Is this a realistic picture. With my experience, as I have explained it to you, is 3 apps a week a realistic expectation? Is it high? low? I need to know what you think.
Thanks for reading my sob story. I just felt you needed to know my background to give an accurate opinion.
Mike R.
Mr. Providence
THE CLOSED DOOR IS AS MUCH GOD'S PROVIDENTIAL CARE AS THE OPEN DOOR!
