Old American Insurance Co.
- Thread starter sissymary
- Start date
- 17,072
What is attracting you to them?
They have an FE product but aren't one of the real popular options.
- 19,647
I love to run across people that have Old American. That is probably even better than their having LH or Bankers or Physician's Mutual.
Can't remember ever not being able to replace OA.
- Thread starter
- #4
- 17,072
sissymary said:
Free leads, reduced price leads, etc. is the most expensive way to get leads. You give up commission. You give up freedom. And you give up having a competitive product to offer your clients. And if you aren't competitive you sell less and you get more cancelations on the sales you make.
FE is very easy if you don't get started wrong and make someone else rich while you go broke. Once you are a few months in, you would NEVER consider that offer. Not in a million years.
Newby.. I have been reading with interest the differences in the way JD and Reardon source their leads and work them.
Do you primarily work leads? If so what type, internet, DM ? Do you set appointments or door knock? Qualify over the phone before setting appointment, etc.? Do you lead with FE or med supp?
- 19,647
While Newby does FE and is very good at it, he is not a final expense agent only. He does many other lines of business.
If he did dedicate his time to primarily FE I would hate to see it.
As for the method of pre qualifying, it is just not how it's done for the top FE producers that work face to face appointments.
I'm talking about the $150,000 ap and up per year FE producers. I know most of them and know of the rest. Not a single one of them pre qualifies on the phone, not one!
If there are any top FE producers that pre qualify by phone they are the ones that finish the sale on the phone. I don't know of nor have I ever heard of a $200,000 ap telemarketer. And, if there is one out there they are spending north of $75000 per year on leads.
Doesn't matter if this is right or wrong. It's how it is. There is one agent on the forum that used to be with EFES. He now does a two appointment close. He will readily tell you that he doesn't do near the production now, but is happier working that way.
If someone is goin g to dabble in FE then prequalifying is the way to go.
- 17,072
My FE sales are kind of the opposite of JD and Reardon.
I buy mail leads but only in a very small area. I don't drive very far from my offices. I have an office in Indiana and one in Kentucky but they are only about 10-miles from each other.
I usually only set 1 or 2 appointments a day if any. I let my appointments run way too long. Usually two or three hours if they go well. But I usually end up being their life insurance, Medicare, and sometimes their annuity agent over the course of a year or so. I don't market to as low of income levels as most FE agents. A fair amount of mine are very wealthy. Most are middle-class.
I also do funeral Preneed which are most often wealthy. I sold plans to a retired judge this month that told me he doesn't need to do anything because he has many millions. I still kept the appointment on track and asked for the check at the end and he did buy.
I don't prequalify anyone. If they re willing to meet and listen, I'll go talk to them. And usually they will come around but not always.
I buy mail leads but only in a very small area. I don't drive very far from my offices. I have an office in Indiana and one in Kentucky but they are only about 10-miles from each other.
I usually only set 1 or 2 appointments a day if any. I let my appointments run way too long. Usually two or three hours if they go well. But I usually end up being their life insurance, Medicare, and sometimes their annuity agent over the course of a year or so. I don't market to as low of income levels as most FE agents. A fair amount of mine are very wealthy. Most are middle-class.
I also do funeral Preneed which are most often wealthy. I sold plans to a retired judge this month that told me he doesn't need to do anything because he has many millions. I still kept the appointment on track and asked for the check at the end and he did buy.
I don't prequalify anyone. If they re willing to meet and listen, I'll go talk to them. And usually they will come around but not always.
Thanks to you and JD for your replies.. It is always interesting to see how many different ways there are to accomplish the same basic goals.
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