New To This World.. Crazy World Is It..?

[Prtzl]

Hello everyone. I stumbled across this forum while doing research on a career in FE. I have no experience in this industry and the FE research has been quite the ride already.

I originally looked into Lincoln Heritage/Golden Memorial. Researching them I learned about being a captive vs non captive agent, the incredible amount of money leads cost, the residuals/renewals, the high charge back rate and some "bad" reviews. I take them with a grain of salt considering I have yet to come across a company without negative things written about them. The good is they front you leads(which come out of future earnings)..

This lead me to How Insurance Services - same thing.. some bad reviews, some good. Then I came across "trainers" who you pay to mentor you and contract with them as a non captive agent. Some commission are extremely low with them, especially if they are helping with leads. Plus there seems to be an MLM element to their structure.

Somehow telesales came into my world.. ex field agents selling me on the idea of no commuting, leads provided etc.. Not so sure this is a good route as I see most FE agents making good money in the field.

I'v been listening to a few audios from Fex Contracting and Final Expense Superstar. I'm a little confused with their set up-looks like a training site but you contract under them. I guess my payouts would come from the Insurance carriers themselves. I don't know.

Since my journey began I have now been introduced to Medicare supplement insurance as being a fantastic way to go vs FE. I don't know as I read sell both, concentrate on one, in the end MS will offer a more secure residual/renewal base.. I don't know.

Then of course there's the agencies who offer Annuities, Mortgage, FE, and MS. I can't go that route - I need to ride one horse.

So this is where I'm at in my journey with the insurance world.

 

[goillini52]

Hello everyone. I stumbled across this forum while doing research on a career in FE. I have no experience in this industry and the FE research has been quite the ride already.

I originally looked into Lincoln Heritage/Golden Memorial. Researching them I learned about being a captive vs non captive agent, the incredible amount of money leads cost, the residuals/renewals, the high charge back rate and some "bad" reviews. I take them with a grain of salt considering I have yet to come across a company without negative things written about them. The good is they front you leads(which come out of future earnings)..

This lead me to How Insurance Services - same thing.. some bad reviews, some good. Then I came across "trainers" who you pay to mentor you and contract with them as a non captive agent. Some commission are extremely low with them, especially if they are helping with leads. Plus there seems to be an MLM element to their structure.

Somehow telesales came into my world.. ex field agents selling me on the idea of no commuting, leads provided etc.. Not so sure this is a good route as I see most FE agents making good money in the field.

I'v been listening to a few audios from Fex Contracting and Final Expense Superstar. I'm a little confused with their set up-looks like a training site but you contract under them. I guess my payouts would come from the Insurance carriers themselves. I don't know.

Since my journey began I have now been introduced to Medicare supplement insurance as being a fantastic way to go vs FE. I don't know as I read sell both, concentrate on one, in the end MS will offer a more secure residual/renewal base.. I don't know.

Then of course there's the agencies who offer Annuities, Mortgage, FE, and MS. I can't go that route - I need to ride one horse.

So this is where I'm at in my journey with the insurance world.

Medicare Supplements and FE are a great tie in. You need to learn one or the other 1st...learn it well before adding the other.

If you go FE 1st, Med Supps aren't good for cross selling that clientele very often...most of them can't afford it.

If you go Med Supp 1st, then FE's great for cross selling. You can use the money you save your clients on a Med Supp to pay for the FE.

 

[Prtzl]

Medicare Supplements and FE are a great tie in. You need to learn one or the other 1st...learn it well before adding the other.

If you go FE 1st, Med Supps aren't good for cross selling that clientele very often...most of them can't afford it.

If you go Med Supp 1st, then FE's great for cross selling. You can use the money you save your clients on a Med Supp to pay for the FE.

Well, thank you.. I'm glad we got past the Taliban..

My first thought with Med Supp is with the health insurance laws being changed with the previous and now new administration - how it affects the industry. With FE, I don't believe it would have any effect.

Any companies you can recommend?

Cheers.. Oh, please leave Tammy Faye out of it.. TY..

 

[goillini52]

Well, thank you.. I'm glad we got past the Taliban..

My first thought with Med Supp is with the health insurance laws being changed with the previous and now new administration - how it affects the industry. With FE, I don't believe it would have any effect.

Any companies you can recommend?

Cheers.. Oh, please leave Tammy Faye out of it.. TY..

The Med Supp companies are all Standardized. That means that their coverage is exactly the same. Plan F is Plan F, no matter what company it's with...they just charge different premiums...some are twice as much as their competitors. I recommend the ones that are competitive in the area that you sell. It varies from state to state.

You also need some that have lenient underwriting for the unhealthier prospects. All companies have different underwriting and some have niches that make them easier to work with.

I wouldn't worry about laws changing. If anything they should get easier, as Trump plans to get rid of a lot of regulations that hold back the economy...when he's not hunting down the Taliban.

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[myinsurebiz]

Hello everyone. I stumbled across this forum while doing research on a career in FE. I have no experience in this industry and the FE research has been quite the ride already.

I originally looked into Lincoln Heritage/Golden Memorial. Researching them I learned about being a captive vs non captive agent, the incredible amount of money leads cost, the residuals/renewals, the high charge back rate and some "bad" reviews. I take them with a grain of salt considering I have yet to come across a company without negative things written about them. The good is they front you leads(which come out of future earnings)..

This lead me to How Insurance Services - same thing.. some bad reviews, some good. Then I came across "trainers" who you pay to mentor you and contract with them as a non captive agent. Some commission are extremely low with them, especially if they are helping with leads. Plus there seems to be an MLM element to their structure.

Somehow telesales came into my world.. ex field agents selling me on the idea of no commuting, leads provided etc.. Not so sure this is a good route as I see most FE agents making good money in the field.

I'v been listening to a few audios from Fex Contracting and Final Expense Superstar. I'm a little confused with their set up-looks like a training site but you contract under them. I guess my payouts would come from the Insurance carriers themselves. I don't know.

Since my journey began I have now been introduced to Medicare supplement insurance as being a fantastic way to go vs FE. I don't know as I read sell both, concentrate on one, in the end MS will offer a more secure residual/renewal base.. I don't know.

Then of course there's the agencies who offer Annuities, Mortgage, FE, and MS. I can't go that route - I need to ride one horse.

So this is where I'm at in my journey with the insurance world.

Chargebacks are a cost of doing business. Write good paper and that will help minimize them . . .

 

[jdeasy]

Hello everyone. I stumbled across this forum while doing research on a career in FE. I have no experience in this industry and the FE research has been quite the ride already.

I originally looked into Lincoln Heritage/Golden Memorial. Researching them I learned about being a captive vs non captive agent, the incredible amount of money leads cost, the residuals/renewals, the high charge back rate and some "bad" reviews. I take them with a grain of salt considering I have yet to come across a company without negative things written about them. The good is they front you leads(which come out of future earnings)..

This lead me to How Insurance Services - same thing.. some bad reviews, some good. Then I came across "trainers" who you pay to mentor you and contract with them as a non captive agent. Some commission are extremely low with them, especially if they are helping with leads. Plus there seems to be an MLM element to their structure.

Somehow telesales came into my world.. ex field agents selling me on the idea of no commuting, leads provided etc.. Not so sure this is a good route as I see most FE agents making good money in the field.

I'v been listening to a few audios from Fex Contracting and Final Expense Superstar. I'm a little confused with their set up-looks like a training site but you contract under them. I guess my payouts would come from the Insurance carriers themselves. I don't know.

Since my journey began I have now been introduced to Medicare supplement insurance as being a fantastic way to go vs FE. I don't know as I read sell both, concentrate on one, in the end MS will offer a more secure residual/renewal base.. I don't know.

Then of course there's the agencies who offer Annuities, Mortgage, FE, and MS. I can't go that route - I need to ride one horse.

So this is where I'm at in my journey with the insurance world.

A little clarification for you, LH is an insurance company. A very over priced insurance company but an insurance company nonetheless.

Howe, FEX, 360, etc. are IMO's. They are the middle man between the agent and the companies. Some IMO's offer training and support and leads. Some offer some of that or none of that and are just contract carriers.

With some IMO's you assign your commissions to them and they pay you. That is a very bad idea. For the agent, that is.

With most IMO's the agent is paid direct by the insurance company.

It's easy to chose wrongly on an IMO. That's why releases are important. With an upfront release you can get out of a bad decision and not have a waiting period of 6 to 12 months to write a particular company.

Very, very few IMO's offer upfront releases. DO NOT deal with one that won't.

Of the ones you mentioned, Howe will not release. You said you got some "good" on them? That's a mystery. I've never heard a good word about them. I'm not sure who you mean by the Final Expense Superstar. If you are talking about Doug Massi then he will release.

There's a huge difference between dealing with the insurance companies direct and dealing with an IMO.

As for advice earlier in this thread, it was spot on about cross selling FE and med sups.

If you lead with med sups then FE is a natural cross sell. If you lead with FE and run FE leads then the cross selling opportunities for med sups are few and far between. MA plans are a natural cross sell to FE but that's a whole nutha can of worms.

 

[goillini52]

A little clarification for you, LH is an insurance company. A very over priced insurance company but an insurance company nonetheless.

Howe, FEX, 360, etc. are IMO's. They are the middle man between the agent and the companies. Some IMO's offer training and support and leads. Some offer some of that or none of that and are just contract carriers.

With some IMO's you assign your commissions to them and they pay you. That is a very bad idea. For the agent, that is.

With most IMO's the agent is paid direct by the insurance company.

It's easy to chose wrongly on an IMO. That's why releases are important. With an upfront release you can get out of a bad decision and not have a waiting period of 6 to 12 months to write a particular company.

Very, very few IMO's offer upfront releases. DO NOT deal with one that won't.

Of the ones you mentioned, Howe will not release. You said you got some "good" on them? That's a mystery. I've never heard a good word about them. I'm not sure who you mean by the Final Expense Superstar. If you are talking about Doug Massi then he will release.

There's a huge difference between dealing with the insurance companies direct and dealing with an IMO.

As for advice earlier in this thread, it was spot on about cross selling FE and med sups.

If you lead with med sups then FE is a natural cross sell. If you lead with FE and run FE leads then the cross selling opportunities for med sups are few and far between. MA plans are a natural cross sell to FE but that's a whole nutha can of worms.

www.FinalExpenseSuperstar.com - Blog It's not Doug. I guess JG interviewed him last year. I must've missed that one.

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He has a terrible list of companies that he offers.

 

[linsignorelli]

I want to sell Medicare Supplements as well. I have no idea where to begin I'm brand spanking new. Any advice on how to start being an Independent Agent would be appreciated.

 

[goillini52]

I want to sell Medicare Supplements as well. I have no idea where to begin I'm brand spanking new. Any advice on how to start being an Independent Agent would be appreciated.

Why do you want to sell Med Supps?

BTW, welcome to the Forum.

 

[linsignorelli]

goillini52
Hi and thanks I'm glad to be here. i want to sell Med Supps because 1st- I love the older people. Mostly because both of my parents while they were living; were on very fixed incomes and they had medicare w/ a medicare supp. Seriously the supplement took care of everything that medicare didn't and they both were able to get the best of care during their last years. So, it's near and dear to my heart. i want to help the older people.