The AEP is coming to a close and I'm in need of focusing on selling Final Expense due to its quicker payout vs selling medicare products. The majority of my sells have come from Medicare Adv, while I've sold a few FE policies but by no means am a pro at it. I've talked to Douglas Massi (love his videos) about joining his team to focus on FE. My question is what can I expect when transitioning from Medicare sales to FE?? I've never really bought leads so investing 2K or more off the top is quite a jump for me, but I'm open to knew opportunities regardless of my comfort level. I'm hoping that selling final expense can not only be lucrative, but also allow me to build a pipeline/cross sell opportunities for Medicare products. I'm in Norman OK and would love to hear anyone's advice for getting started selling FE, when coming from Medicare sales...
Selling FE/Medicare products
- Thread starter Ro-Bear
- Start date
- 16,880
You'll love FE. It's much more pleasant than Medicare Advantage with all the crazy rules and regulations.
Don't underestimate the need for leads. They are key. And direct mail is the only way to go. You only put your money in initially. Once you get going your business account pays your lead bill and pays you a nice income on top of that.
Doug is a good guy. If he's your man, commit 100% to learning his way. This forum will have you spinning n circles with everyone's opinion about how to do everything. Filter everything out except YOUR mentor/upline and do it his way.
- 2,370
I agree with Newby. Direct mail still works. There are no magic bullets or special industry secrets. It is just a matter of getting in front of prospects and then talking about life insurance. Of course, there is more to it than that, but don't stall your progress with overthinking it. I am not familiar with Doug's system, but if Newby says he is a good guy, I would trust it.
I would look into emotional selling as well. Life insurance is more emotional than health insurance. I have not read this book yet, but it is on my list: Sales EQ by Jeb Blount.
I would look into emotional selling as well. Life insurance is more emotional than health insurance. I have not read this book yet, but it is on my list: Sales EQ by Jeb Blount.
- 18,987
Get with someone that knows about selling FE and then listen to them. When people that do not sell FE give advice, like one response you got here already, throw that crap out. Don't give them 1 second of your time.
Doug actually sells FE for a living. And he has proven production. That's the people to listen to. A marketer that has never been a producer in FE will never be able to teach you to sell FE.
I know you said that most of what you sold was Medicare Advantage, which many times does fit in with the FE market. You will find some cross-sell opportunities, but not as much as when selling Med Supps and cross-selling FE.
When it comes to income filters on direct mailers, you're probably going to use a bottom income level of $0, whereas dropping for Med Supps you would use a bottom income level of $20K or so. That puts you in a different category of the clients you're marketing to. It will be different to say the least. Now, if you are used to marketing to the very low income with the Medicare Advantage products, then you may find the clients are exactly the same.
Everyone is correct about using Direct Mail for marketing. You can use telemarketed leads, but only for a while. You'll run out of data quickly if you are ONLY using TM leads. So, bottom line is that you can use TM leads in the very beginning to get yourself going quickly, but start ordering DM leads just as soon as you can. Make DM leads your mainstay and pepper in TM leads here and there. TM leads are usually cheaper, just not sustainable.
When it comes to income filters on direct mailers, you're probably going to use a bottom income level of $0, whereas dropping for Med Supps you would use a bottom income level of $20K or so. That puts you in a different category of the clients you're marketing to. It will be different to say the least. Now, if you are used to marketing to the very low income with the Medicare Advantage products, then you may find the clients are exactly the same.
Everyone is correct about using Direct Mail for marketing. You can use telemarketed leads, but only for a while. You'll run out of data quickly if you are ONLY using TM leads. So, bottom line is that you can use TM leads in the very beginning to get yourself going quickly, but start ordering DM leads just as soon as you can. Make DM leads your mainstay and pepper in TM leads here and there. TM leads are usually cheaper, just not sustainable.
