I work for a company that offers a salary and commission, they provide leads at a good rate but these are not people that inquired about life insurance, most of the time these people think I'm from Medicare (I immediately clear that I am not with Medicare) we do senior benefit reviews and go over retirement; are they receiving ss, pen, 401k etc do they have direct deposit. Then Medicare; what supplement, hospitalizations, medical conditions (if their supplement is not right for them then I would send a specialist out to them) then prescriptions; how much are they paying out of pocket and I can offer them a savings card from script save if it would help. Then we go over final expense plans and we call the their carrier to see if it's right for them then I have to pretty much convince them to replace or sign up. My company provides training then the presentation which is pretty much my underwriting but I'm not making sales, im not sure if it's a confidence thing or the presentation just isn't working for me. I have thought about lead companies to find people that are looking for life insurance specifically but I'm afraid I will just end up wasting money. I write for 6 carriers all siwl or gi in Michigan.....I guess I'm just looking for some advice to help me succeed in this business!
Opinions on my Situation?
- Thread starter Kkeith
- Start date
- 6,142
If you want to make it in final expense, you are doing it completely wrong! That's a weak approach you're being taught. I bet it is with a large churn and burn IMO.
You need 110 to 120 point contracts, good lead flow, and some real training. You've come to the right place. There are many good options here. You can check out my website and see if what I offer intrigues you.
Finalexpenseservices.com
- 16,880
It sounds like you are with an old school agency that is taking half your commission and not spending any money on you for real leads or real training.
Do they really want you out there replacing policies with no real training?
Most successful new agents buy real leads. They can afford this because they start at a legitimate agency and starting commissions are 115%. And those agencies train the agents how to sell and run their business properly.
Most agents in your type of agency will fail out. It's just a churn and burn type of agency. They just want you to stir up free leads for their "specialists. "
I would almost bet they have the word "Bankers" in their name. If not they might be the Bankers spin off with the word "American" in their name.
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- 29,487
I haven't had my 2nd cup of coffee yet so help me out...Bankers Life has a spin off with the word American in it? What would the name of that spin off be?
- 16,880
I haven't had my 2nd cup of coffee yet so help me out...Bankers Life has a spin off with the word American in it? What would the name of that spin off be?
A few years ago Bankers managers left the company in several cities and formed Great American agencies. They sold a better mix of companies but operated just like Bankers Life operates. Later they dropped the word Great from their name.
- 29,487
But that's not a company, it's an IMO.
- Thread starter
- #8
I haven't had my 2nd cup of coffee yet so help me out...Bankers Life has a spin off with the word American in it? What would the name of that spin off be?
The company I work for is first Financial insurance group
- 16,880
That's not who I was thinking. You are probably in one of the NAA subgroups.
The problem is you are taking a small salary. When you do that they are justified in really putting the screws to you with everything else. Insurance sales don't have salaries. It's performance based. That's why it pays so well.
This sounds similar to how I started out.
If they think you're there for Medicare, then start there.
Forget about the financial stuff unless they bring it up, or after they become a client.
It easier to pivot to the life insurace talk right after you saved them money on thier supp.
I always assume they already have some coverage, so that's how I approach it
"Before I go, lets check your life insurance coverage, to make sure you're not overpaying on that as well."
They'll tell you whether they have something or not.
This approach will never be more than an occasional cross-sell. If you're looking to lead with Final Expense, then follow the advise of the others on here that have replied.
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