New Agent- 2 FE questions

[Will S]

Is it now politically incorrect to avoid high crime areas? If it is I'm guilty of that one.

I don't blame you, bud.

 

[Mike Siegal]

I really only work Philadelphia but there are a few extremely low income areas I exclude for lack of people with bank accounts. But you can't fear the job before you even start it

(newby to FE)

Hi Baseball...

,...does this mean that 'only ppl with bank-accounts' GET FE?'

THANKS!

 

[Mike Siegal]

I sold a policy in an area were 1 block away a person was shot dead the day before . It's the chance we all take although I've never felt threatened . But I'd never advise a woman to go to the places I go . Last week dk'ed a man . He had padlocks on his front door . He opened them. I looked down and he's in a wheelchair with no legs smoking a cig . Dog crap on the floor and no carpet . I actually went in and he's telling me how people after him . I stopped the bs immediately and asked him can you afford $25 a month . He said no and I said ok and walked .

$25 mth ?

What company writes policies at $25/th ?

(pretty cheap)

 

[rousemark]

$25 mth ?

What company writes policies at $25/th ?

(pretty cheap)

Many of them.. Depending on the age might not buy but $2-$3K but that will pay for a cremation.

 

[Mike Siegal]

Many of them.. Depending on the age might not buy but $2-$3K but that will pay for a cremation.

I didn't think about that...thanks!
(better to sell them something)

 

[DonP]

If you start writing a lot of policy's on direct monthly you won't be in the business long. If you write a lot of policy's with green dot or prepaid cards you won't be in the business long . A lot of people only want to be cremated so $3k-$5k plenty

 

[rousemark]

If you start writing a lot of policy's on direct monthly you won't be in the business long. If you write a lot of policy's with green dot or prepaid cards you won't be in the business long . A lot of people only want to be cremated so $3k-$5k plenty

I have had good experience with direct monthly.... Never wrote a green dot or prepaid card.. If you don't want to write those types, hook up with a debit agent that does home service and work out a referral arrangement with him.

 

[Mike Siegal]

If you start writing a lot of policy's on direct monthly you won't be in the business long. If you write a lot of policy's with green dot or prepaid cards you won't be in the business long . A lot of people only want to be cremated so $3k-$5k plenty

I have had good experience with direct monthly.... Never wrote a green dot or prepaid card.. If you don't want to write those types, hook up with a debit agent that does home service and work out a referral arrangement with him.

Not getting you Guys...

1. Are you saying 'its a waste of time' to write low pmt policies
2. IF you write Direct Monthly policies---you won't make it?
3. What is the Green Dot System?

Please expound...

Thank you!

 

[rousemark]

Not getting you Guys...

1. Are you saying 'its a waste of time' to write low pmt policies
2. IF you write Direct Monthly policies---you won't make it?
3. What is the Green Dot System?

Please expound...

Thank you!

A $15 monthly premium pays $180 annual commission at 100%. You will have to decide for yourself if it is worthwhile

As for direct monthly, many people experience very bad persistency with it. You would need to use a company that does not emphasize persistency. If you are on advance most companies will pay as earned. If you write a $50 per month plan, collecting the first month's premium with the app. you will be paid $50 when it is issued. If it pays the second month, you will be paid another $50 and $50 each month through the 12th. month. So, it it pays 4 months and lapses, you will have made $200. Personally, if I have spent the time to call and interview the person, I will take a monthly direct bill before walking out with nothing. If it only pays one month at least I have made something for my time. If it stays for a year so much the better. As I said, I have had good luck with monthly direct bill.

Green Dot cards are prepaid Visa debit cards. You deposit money on them and then when you have spend the amount you deposited you cannot use it until you deposit more... I think you can see why that would create problems with low income folks having insurance premiums drafted against the card.

 

[Todd King]

. Personally, if I have spent the time to call and interview the person, I will take a monthly direct bill before walking out with nothing. If it only pays one month at least I have made something for my time. If it stays for a year so much the better. As I said, I have had good luck with monthly direct bill.

I know many agents won't even bother to write them. I've never figured out why. If you're in the home, write it! If you don't write it, you automatically lose.