New Life Agent for Lincoln Heritage FAILING AND NEED HELP!

Sep 28, 2015

  1. Renosausage
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    Hey everyone!

    I am so excited to be an Insurance Agent and so far I am enjoying the work. I started only 2 months ago and I am sure some of you will laugh because I know things are just gonna get harder and harder.

    I started off buying leads from Lincoln Heritage. They were $28 a piece and so far I have had no luck with any of them. I've tried 15 different paid leads, but I'm scared to keep increasing my debt with Lincoln.

    I decided to try cold calling prospects that I narrowed down using searches online by age, income, new house, new baby etc...

    I had more luck with these, but still found myself calling at least 30 people before reaching my first appointment.

    I guess overall everything seems overwhelming and I am not sure where to begin.

    I am an independent agent receiving 75% commission with Lincoln Heritage. My agency manager is fairly new at the business also and so we need some help, advice, counsel, wisdom... WHATEVER YOU HAVE!
     
  2. Rearden
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    Rearden, Sep 28, 2015
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  3. John Galt
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    Glad you are here and found us!! Thank goodness. If we can be of help let us know.
     
  4. Newby
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    You are going to get the same advice over and over from all of us.
    1. Your starting commissions should be 110% to 120%
    2. You should be selling people policies with much lower premiums than LH offers
    3. You should be selling companies that offer your less healthy clients 1st day coverage in a whole lot of cases that LH will only issue them sub-standard or graded coverage.
    4. For the price you are paying for leads, they should be brand new and never been worked before. If this was the case you would be making more sales if you are trying at all. Much of your problem with the leads is that you are buying reworked reject leads.
    5. Why do you have a dead weight manager making an over ride off you if he isn't able to show you exactly how he goes out and make a lot of sales every week?
    6. The FCGS is a sales gimmick. Your customers would rather have more coverage for their premium dollar than to pay huge premiums for this "free" benefit.

    Continue your education here: Getting Started with FE Sales
     
    Newby, Sep 28, 2015
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  5. rousemark
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    Things should get easier as you go, not harder. :yes: You are not in the ideal situation.. might be a little different if you had an up line that was a real pro and could teach you the business. Take Rearden's and Newby's advice. Not many would take the initiative to search out potential prospects and cold call them. That indicates you have what it takes to succeed if you are in the right situation.
     
  6. Iwillpay
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    If you are buying leads make sure they are fresh leads and demand that they are fresh, check the date stamp on them.
    Also try to buy your leads cash, leads on credit can be a disaster for any agent and even more so under a new manager trying to get some numbers.
    It is next to impossible to survive on 75% comp. (leads, car, food, clothes. household expenses, lapses, chargebacks). Your average comp will be less than 75% in any event based on the mixture of business placed.

    Lincoln Heritage model is designed principally for recruiters. If you think thats a good fit for you then you are in the right place.

    But if you read the Final Expense forum thoroughly you will find peace of mind and a wonderful opportunity.
     
    Iwillpay, Sep 29, 2015
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  7. Renosausage
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    I went to your link and called Scott and Travis.

    HUGE HUGE HUGE HUGE HELP!!!!!

    I really enjoyed my conversation with these guys and I have already started the process of getting appointed.

    It's gonna take at least 2 to 3 weeks before all the paperwork is finished, but I am so glad I have an opportunity to sell under some very professional agents.

    I will keep you guys updated on how well out company grows over the next year.

    We are a small independent agency in NC. We just started a little over a year ago.

    We are currently selling all lines of insurance, but each of us decided to concentrate on one line and so i'm only concentrating in Life.


    We are all young 27 or younger agents. We all gathered together with our experience and education in business/computer science/accounting/marketing.

    We are pumped and ready not only to make a career, but also become a very stable, honorable, and trusted insurance agency.

    Thank you for the advice. I promise it will not be wasted!
     
  8. WinoBlues
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    Take Louis, Me and a couple of the NAFEOAs out and I would say you are just under the average age. Which I am guessing is mid 30s.
     
  9. rousemark
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    Unfortunately the stats don't prove your assumption.. The industry is made up of a bunch of old guys.. The average age is up in the 50s.. One reason is when older folks get laid off, a lot of companies will not hire them but the insurance industry will take anyone who fogs the mirror.. and, why not? For the most part, the companies aren't paying a salary or investing in training the agent. The only expense they incur is the contracting expense and initial supply order.
     
  10. WinoBlues
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    I was talking more about the FE forum. And that is a pure guess. But I have heard those same numbers as to the aging of Life Agents as a whole. Which is a problem as I believe change and innovation is going to come from the younger guys. Look at the online sales guys. They mostly tend to be younger. Of course, younger is relative.
     
    Last edited: Sep 29, 2015
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