New agent with Final Expense questions

[Rakeon]

I know things can vary based upon zip code, etc but I would like to primarally find companies that are the cheapest in the industry for the most coverage to give people the best deal

 

[goillini52]

I know things can vary based upon zip code, etc but I would like to primarally find companies that are the cheapest in the industry for the most coverage to give people the best deal

I suggest that you give Todd King a call. He handle Med Supp, MA and FE. He's a straight shooter.

https://insurance-forums.com/community/members/todd-king.3501/

 

[theinsuranceman]

You mean for lead generation?These were all senior life's leads.37 bucks a piece and supposed to be wonderful.Not as promised.

Hey friend, I'm also with Sr Life and they don't have leads for $37. The most expensive leads they have are Spanish TV leads.

Your agency manager, who is just getting his feet wet in the FE arena, is buying the leads from SL and then marking them up and then selling them to you so he/she can make a profit off the leads.

Just so you know how bad your agency mgr. is screwing you:

English TV leads are $34
English direct mail leads are $32 ($35 in Fl.) and they are filtered to eliminate PO Boxes, and also filtered for incomes of $50k and less, ages 50-80.

Ask your agency mgr. why he is marking up the leads before selling them to you? What I've just shared with you is not secret info. Agency mgr.s like yours gives companies, like SL, a bad rep.

 

[Thedude]

First, your manager is ripping you off.

Second, it doesn't seem like FE is for you.

 

[theinsuranceman]

I suggest that you give Todd King a call. He handle Med Supp, MA and FE. He's a straight shooter.

https://insurance-forums.com/community/members/todd-king.3501/

When did Todd start financing leads for his agents? Other than that he could offer a wealth of info and experience.

 

[Jose Arteaga]

Which is why I am curious who the best providers are and not solely off of comissions, but primarally in the least cost to the consumer

I Always write the client the best rate I can.

I just got my life and health license a couple of months ago.The agency thst I am working for wants me to specialize in final expense.
6 QUESTIONS TO ASK YOUR AGENCY

1. What are my commission levels?
Most new agents get contracted at very low commission levels. Why does this happen time and time again? Lack of readily available information. In the real world, if 3 companies are hiring for the exact same position and one company pays $20/hr, one pays $25/hr and one pays $55/hr, all things being equal which one would you choose? It's not so obvious in the job postings for final expense agents. Most are vague using phrases like "you can make over 100,000" and "top commissions paid." Of course they are not going to advertise "we have low commissions" come join our team. This is one of the most important, if not THE MOST IMPORTANT factor that should be taken into account when you are looking for a place to land. Quality leads are not cheap. Gas and vehicle expenses add up quickly. You absolutely must be getting the top contracts to make it in this field. We hear of many agents getting 70-80-90% contracts and wonder how they survive. No wonder the failure rate for new agents is so high. You MUST have some carriers that pay 115%, 120% or more and we aren't talking about those high priced carriers that pay high because their rates are high. This is your business, your vehicle, your lead cost. Your agency should not be taken most of your commission. We have nothing to hide, here's our commission levels.


2. Will they hold my contracts if I decide to leave?
We thought this to be a ridiculous question before the experiences we have had. Some contracting agencies will not release your contracts if you ask to leave. What does this mean for you? Let's say you are contracted with Insurance company A, B, and C. Well if you want to leave your agency and go write insurance company A,B and C under a different agency they will not let you. Most often times you are held hostage for 6 months before you can re-contract again and during the 6 month period you are not allowed to sell any policies for those agencies just like the story we at the top of this page, it really can and does happen. This is why it is so important to get all the information up front in writing. What will your contract levels be? Will they sign a release for you. We sign releases, although no one has yet to ask for one. Hint, hint this is a really good sign!



3. What type of Leads are available?
Believe it or not when you get your insurance license, people aren't lined up at your door begging for life insurance. In fact mention life insurance to most folks and they cringe. It's not an easy sale and most people do not want to talk about it. That's why high quality leads are so important and they are your lifeblood as a final expense agent. We have all the top lead carriers out there, whether you want direct mail leads or telemarketed leads while you are waiting for your direct mail leads to come in.



4. What type of training will I receive?
When is the last time the agency representative you are speaking with actually sold a Final Expense Policy? Is their primary focus recruiting agents or actually out in the field practicing what they teach. Although it may look like a relatively easy sales process there is a lot that goes into it. Make sure you are learning from a top producer. The two partners, Jose Arteaga and Jeff Hall sold over $300,000 and $250,000 in final expense premium in 2017 and are continue to be in the field on a full time basis. We offer ride alongs, group text and chat for when you are in the home and need help fast, Company underwriting guidelines so you know where to place your case, a full presentation and phone script that works and most importantly we are always available by phone and text, unless we are in an appointment of course!



5. If I decide Final Expense is not for me, what happens to my future commissions?
Make sure you are "vested" from day 1, which means that if you leave your upline will not keep your future commissions. What's worse than using your gas, wear and tear on your vehicle, your leads and your time only to have your upline keep any future income you are due and earned! This practice is unfair and we agree. You are 100% vested from day 1 with us, no tricks here.



6. What if I'm in a home in the middle of a sale and need help immediately?
What if I"m running an appointment and need an answer fast or I may lose the sale? What if it's a weekend? There's a lot to know in this industry, and what you don't know becomes immediately apparent in your first few months of appointments. Believe us, we've been there. You have an interested client who gives you all her medication. As you look across the coffee table full of 18 different medications with names like hydrochlorothiazide, you realize you need help! Relax, we are here to help.

How do I get started?

 

[goillini52]

When did Todd start financing leads for his agents? Other than that he could offer a wealth of info and experience.

Never said Todd offered leads. There are plenty of places he could buy leads a lot cheaper than $37 each. He also said that he's more comfortable selling Med Supps/MA. Doesn't sound like SL's a good fit for him.

 

[Jose Arteaga]

I just copied and pasted that of our website so don't mind the hyperlinks but the questions you should be concerned about are real.

You should not continue in a agency where you cant trust your upline, That's just stress you don't need.

feel free to reach out if you have any questions, and welcome to FE.

 

[Rakeon]

Sorry 34 dollars I stand corrected, and no the agency owner is not ripping me off, he paid for my leads and worked them along side me.They were not quality leads.

That is a line of bs that these people make 50 to 80k either senior life is lying or the people who called in are lying.The areas that I went to half of them are the areas of the city where the majority of the shootings occur, and where most people do not want to drive through.

These people were on welfare.I had some ask if i could do payment with their access card.Don't tell me they made 50 to 80k a year and insult my intelligence.

 

[HoosierLife]

Sorry 34 dollars I stand corrected, and no the agency owner is not ripping me off, he paid for my leads and worked them along side me.They were not quality leads.

That is a line of bs that these people make 50 to 80k either senior life is lying or the people who called in are lying.The areas that I went to half of them are the areas of the city where the majority of the shootings occur, and where most people do not want to drive through.

These people were on welfare.I had some ask if i could do payment with their access card.Don't tell me they made 50 to 80k a year and insult my intelligence.

Well this may not be the niche for you.