Need Advice

[rodman28]

OK here I go. I have been in Insurance for awhile used to do a lot of Individual Health and Group Insurance. We all know where commission have gone there in 2010 worked exclusive with company in P&C did very well until they left state. When they left they didn't pay commission on what was sold and took all renewals long story short left me not good off.
Looking to get into final expense seems to be a shot to make decent income if you put the work in. I have been looking at numerous companies to team up with but every time I find one I check here they have terrible reviews. My question is I know how much better it is to be independent better comm. and all but lead cost to get started is a little hard right this second until I can get some sells if I go captive I see some places have free leads other expensive leads but terrible reputations.
I'm looking for some good advise on which way to go. I read a lot of all of your advice and its good so help me out.

 

[jdeasy]

Personally I think EFES is the best place for the fulltime FE agent and especially for a newcomer.

They have training, regular incoming leads, access to many companies and office support.

The level of training and support and contracts is very manager specific so you do have to do your homework on that.

fexcontracting is also a great new resource but I think they are more for the agent with experience. However, they say differently and believe they are for the new agent.

I would look at both.

OK here I go. I have been in Insurance for awhile used to do a lot of Individual Health and Group Insurance. We all know where commission have gone there in 2010 worked exclusive with company in P&C did very well until they left state. When they left they didn't pay commission on what was sold and took all renewals long story short left me not good off.
Looking to get into final expense seems to be a shot to make decent income if you put the work in. I have been looking at numerous companies to team up with but every time I find one I check here they have terrible reviews. My question is I know how much better it is to be independent better comm. and all but lead cost to get started is a little hard right this second until I can get some sells if I go captive I see some places have free leads other expensive leads but terrible reputations.
I'm looking for some good advise on which way to go. I read a lot of all of your advice and its good so help me out.

 

[rodman28]

I will check it out.

 

[Todd King]

Just remember, there is no such thing as a free lead. You are going to pay for it one way or the other. If you have someone else pay for your lead, then you are really the one paying dearly for it.

If you can find a way to pay for your own, that's the best way to go.

You might find this an interesting read: View attachment The True Cost of being Captive.pdf

 

[rodman28]

Thanks Todd I know your right. I have been trying to put together a game plan. Usually not a problem to buy some leads but this Insurance Co. me hit me with no warning. When I was on the health side I would just go out to Business or whatever and market products but with this not sure exactly how to do that to make a couple sales then start buying leads. I also need to get some contracts but didn't want to do till I knew the way I was going.

 

[HoosierDaddy]

Personally I think EFES is the best place for the fulltime FE agent and especially for a newcomer.

I respectfully disagree, maybe it was 5 years ago, but I'm not so sure it would be now. A new agent will probably have to start at 80% contract with EFES. The new agent will be forced to run leads that do not say "life insurance." Then factor in the PPL changes like the 20% deduction off the top that is not credited towards PPL along with the 3 month retro PPL chargeback if biz falls off. Then they require you to buy 15 leads a weak which often times drowns new agents.

Their training consist of recordings of agents who have moved on to something else.

I like EFES and they are honest people. Just a lot of variables out of a "new agents" control that really can impact their odds of success.

 

[jdeasy]

I respectfully disagree, maybe it was 5 years ago, but I'm not so sure it would be now. A new agent will probably have to start at 80% contract with EFES. The new agent will be forced to run leads that do not say "life insurance." Then factor in the PPL changes like the 20% deduction off the top that is not credited towards PPL along with the 3 month retro PPL chargeback if biz falls off. Then they require you to buy 15 leads a weak which often times drowns new agents.

Their training consist of recordings of agents who have moved on to something else.

I like EFES and they are honest people. Just a lot of variables out of a "new agents" control that really can impact their odds of success.

Well I did say it was "manager specific". You are probably right that you can't start at higher than 80-85% there now. I'm sure I wouldn't have started at the level I was at if I had not been under you.

Since you are no longer there the homework I told him to do woill be much more difficult.

 

[rodman28]

Thanks Guys I do see the benefits of being Independent the cost of leads are just so expensive. Like I said usually wouldn't be an issue but thanks to a un named Insurance Company taking money and running , I may have to go captive to get back on feet. I have sold some final expense in the past but more of just helping out a client wasn't my market then. Are there any reputable career companies out there you would think is worth a look.

 

[Thad.Sipple]

Just remember, there is no such thing as a free lead. You are going to pay for it one way or the other. If you have someone else pay for your lead, then you are really the one paying dearly for it.

If you can find a way to pay for your own, that's the best way to go.

You might find this an interesting read: View attachment 1496

Good read and correct. I have a question, the $200 for the leads thru the captive company, do I pay that now or out of future commissions?

 

[HoosierLife]

MOST everyone thinks their company is the "BEST"...TRUTH is there is no "BEST" company out there. Each agent has different needs, so while one company might be a GREAT fit for one agent it might be a poor choice for another.

Yeah, but there's definitely good, better, bad and worse...