Question (newer agent here)

[HoosierLife]

Are you talking about FE agents selling annuities to their clients making this?

I didn't believe it either. No way will you find any money in these FE houses. 95% barely have 2 pennies to rub together, but if you ask the right questions in EVERY house, you'd be surprised how much money you'll find.

Guys working as janitors all their lives sitting on $300k in a 403b.

About to turn 70.5 and needing to take RMDs right now. He can't put his money into the market at that age and no Edward Jones guys are knocking on his door. CDs make nothing. Annuities are the perfect product for a guaranteed income stream for life.

 

[Tahoe Ray]

I didn't believe it either. No way will you find any money in these FE houses. 95% barely have 2 pennies to rub together, but if you ask the right questions in EVERY house, you'd be surprised how much money you'll find.

Guys working as janitors all their lives sitting on $300k in a 403b.

About to turn 70.5 and needing to take RMDs right now. He can't put his money into the market at that age and no Edward Jones guys are knocking on his door. CDs make nothing. Annuities are the perfect product for a guaranteed income stream for life.

He also can't put all of the 300k into an annuity with a GLWB.

The average annuity sale is 130k but that includes MYGAs/SPIAs.

You're being VERY optimistic with your numbers.

 

[Jose Arteaga]

I have heard people say even if you suck at the sales aspect but excel in the work aspect, as in putting in abserd amounts of time, you'll make it regardless in this business.

That statement is only true if everything else is in order. Appearance, grooming, posture, professionalism etc. Then yes, work your arse off and you will put food on the table.

A hard worker will always survive, so you will survive there as you do were you work now.

I thought you wanted to change your life financially. If so I would research a little more.

 

[Valetic]

I thought you wanted to change your life financially. If so I would research a little more.

I do but this is only the start. I have little experience in business and sales. I have to get out of my day job first and this will be the vehicle to get me there. Then when I am ready to take the next step I will do so.

Sort of like the old saying, "How do you eat an entire elephant?"

Easy. One bite at a time.

 

[shonceman]

This comment irks me the wrong way for some reason...

Sorry it irks you. I didn't mean to be offensive. Just poking fun. But I hope if it irks you maybe it'll help you "snap out of it!"

The Koolaid comment is an oft used joke on this forum regarding the typical nature of many new LH agents that come on here. They, like you, seem to be asking for advice. But, like @jerryrut said, they really just want validation for a decision already made, and start debating when they don't get it.

So, just for the record, I contracted with them long before anybody knew who they were. In fact they had a different name back then. But I promise, the name may have changed, but the negatives about the company haven't changed. I've got issues with the company because of the way I was treated, and I'm far from alone. I won't go into details here. If you really want to know, you can PM me.

All I can say is you've been given wise counsel here. It's your choice. I will say I did learn a few things from them. But I would have learned the same elsewhere with a more pleasant outcome. If I had it to do over again, I would go a different direction.

But if you're a hard worker, and you're on a good team (there are a couple good LH teams) then it is possible to be successful there. It's just that it's easier to be successful elsewhere.

Oh, and FWIW, I'm not a recruiter. I'm a feet on the street agent.

 

[Valetic]

The Koolaid comment is an oft used joke on this forum regarding the typical nature of many new LH agents that come on here.

I hope it's not racist because the group I'm in is predominately black. The boot camp I went to had 80 recruits attend, and I was one of 3 white people there. Ironically when the founder of UBI showed up and gave a speech, he made a comment about that and said when he first started he was the only black man in the room. I don't mean anything by this, it just is what it is.

But if you're a hard worker, and you're on a good team (there are a couple good LH teams) then it is possible to be successful there.

I'm basically one or 2 people under the president. My team is great from what I can tell.

 

[shonceman]

I'm basically one or 2 people under the president. My team is great from what I can tell.

I hope, for your sake, that your assessment is correct. I wish you nothing but the best!

 

[Travis Price]

I hope it's not racist because the group I'm in is predominately black. The boot camp I went to had 80 recruits attend, and I was one of 3 white people there. Ironically when the founder of UBI showed up and gave a speech, he made a comment about that and said when he first started he was the only black man in the room. I don't mean anything by this, it just is what it is.



I'm basically one or 2 people under the president. My team is great from what I can tell.

Kool-aid being racist? Bruh, you're being way too sensitive.

"Drinking the Kool-aid" comes from cults that commit suicide, like Jim Jones or Heavens Gate. It means you're buying into drinking something sweet that's actually poison.

Secondly, most insurance companies sell naive, new agents on their amazing training and sales system. If it's so great, why the heck do 90% of the agents wash out of this business in two years?

Sad part, I was you 14 years ago and we're probably around the same age. However, as astutely pointed out, you want validation, not reality.

You want to make changes one step at a time. However, you should try to make the right steps. I don't know how much research you really did, but it clearly wasn't enough.

Good luck.

 

[Valetic]

Kool-aid being racist? Bruh, you're being way too sensitive.

"Drinking the Kool-aid" comes from cults that commit suicide, like Jim Jones or Heavens Gate. It means you're buying into drinking something sweet that's actually poison.

Secondly, most insurance companies sell naive, new agents on their amazing training and sales system. If it's so great, why the heck do 90% of the agents wash out of this business in two years?

Sad part, I was you 14 years ago and we're probably around the same age. However, as astutely pointed out, you want validation, not reality.

You want to make changes one step at a time. However, you should try to make the right steps. I don't know how much research you really did, but it clearly wasn't enough.

Good luck.

K this comment really hit home with me. No I haven't done my research on final expense, i used to watch Dave duford when I did warm market life insurance sales and realized I would probably be better off cold knocking prospects instead. That's when a connection of someone I know was introduced to me. And now I'm going for it. But once I build up my confidence and skill set and see I can do this to live on, I can just opt out right?

Yeah they starting me out on a 75% contract. Don't really know if that's good. I forget how big the renewals are. I think like 10% or something, I'll ask again. Btw, don't companies usually stop giving renewals after like 10 years or something? Or decrease them over time?

Also I'm just a bebe, I'm only 26 years old

 

[HoosierLife]

He also can't put all of the 300k into an annuity with a GLWB.

The average annuity sale is 130k but that includes MYGAs/SPIAs.

You're being VERY optimistic with your numbers.

No and that's why our average is about $125k.