Realistic Final Expense Goals

[retread]

What does it take to write $2000 worth of annual final expense premium every week. Would love to hear from someone who does it consistently.

First of all, your question is a little ambiguous. One would assume you meant "$2000 worth of commissions from final expense policy sales" per week. If that is your question, then do the math.

Lets say a typical FE policy is about $5K. That will barely cover burial expenses. At about $5/k (a very low rate) yields about $250/yr premium, which at 100% commission on the first year (average) would return $250 per year, or if you get advanced, about $4.80/wk. $2000/ week is about $96,000/ yr taking into consideration holidays, etc., so you will need roughly 384 sales/yr to bring in this income. That's about 8 sales/wk (8x$250=$2000). Of course, if your premium or commission rate is higher, it would take slightly less.

I don't think I could make 8 FE sales per week, that's why I cross-sell. Not everyone that wants a Med Sup or MA plan will go for the FE. I will happily take 1 a week! That's only about $1000/mo., but it helps.

Now, if you meant $2000/week in PREMIUMS, ......

 

[tkirk97]

It's all about the numbers, send out 1500 leads per week, you should get roughly 18 back (my area), take the lead cards to the door, knock on the door and try to sit down with prospects on the spot or schedule an appointment from a later date, you should be able to sit down with at least 60% of the people as long as you get on the cards right away.

sell 50% of the ones you sit down with, avg prem. $30.

18*.6*.33=3.5 household sales. avg. 1.5 apps per house so 5.35 applications per week at an avg. of $30/month=$1,924. Depending on contacts, my final expense contracts are between 100-125% should put you about 2k in comm.

key to this is not calling for an appointment but actually going up to the house. Also, make sure to get referals, some of my agents will actually knock on the neighbors doors when they are done with the lead to try and cultivate more business since you are already there.

We get our final expense leads done for $200 per thousand using bulk mailing permits. The cards come back directly to our agents within about 7-10 days, one of our main companies picks up the cost for the printing paper, list etc. Our agents are only responsible for postage. So using those numbers you should net around $1,600 in comp for the week. If you do this for a couple of years you will have more business than you can work.

One of our agents has been using this system for 15 years, he sent a mailer for 5000 three years ago and never worked the leads because he doesn't have time, he is making around 100-130k and works on avg. 3 days a week and most of his appointments now call him through referals.

 

[Corey]

Do the math:

Lets say a typical FE policy is about $5K. That will barely cover burial expenses. At about $5/k (a very low rate) yields about $250/yr premium, which at 100% commission on the first year (average) would return $250 per year, or if you get advanced, about $4.80/wk. $2000/ week is about $96,000/ yr taking into consideration holidays, etc., so you will need roughly 384 sales/yr to bring in this income. That's about 8 sales/wk (8x$250=$2000). Of course, if your premium or commission rate is higher, it would take slightly less.

 

[midwestbroker]

Sell it with another product.

I consider final expense sales like bonus money.

 

[pencloser]

What does it take to write $2000 worth of annual final expense premium every week. Would love to hear from someone who does it consistently.

starving artist check out this final expense leads website

if you like the story call Chase on (214) 342-2010, he didn't bull***t me.

 

[mickeyma]

How does your final expense leads for $200? Everyone else is $360--450.

 

[myinsurebiz]

Well - this post is almost a year old - the artist may have already starved . . .

Tom

 

[mswebb06]

Equita will drop as many leads as they have to, to get you 15 leads every week, so this is very different from what everyone else does. They require you to come up with 75 zip codes to give them.

I worked from them, I do not have any postive or negative to say about them.

 

[myinsurebiz]

It seems they are not only in the lead business, but are also an Insurance Broker ?

So - in that case - does the mail card response go directly to the buying agent or is it filtered through them and distributed to the agent?

Tom

 

[mswebb06]

Lead card, goes to them first. Then they assign to the agent in that area. Depending up on your state, I believe they will only hire five agents per state.