The I Love Selling FE "February to Remember" Thread

[benneaf]

Okay...so I got real hyped while reading the, "The I Love Door Knocking "December to Remember" Christmas Extravaganza Thread (powered by bacon)." Most of my business over the last 6 yrs has been Life insurance and Medicare Supplements. Year 1 (January 2013) was with Modern Woodmen of America (MWA). "List everyone you know and go sell 'em something...get out there...sell, sell...ra, rah...we got nothing to help you with." That was 2013. Through their general agency I got set up with BlueCrossBlueShield of TN and suddenly people wanted to meet with me. The marketplace was opening that fall so I saw an opportunity. My regional manager with MWA made it clear he did not want me to use the office to write health insurance (despite the fact MWA was taking a big chunk of commission) so in the middle of open enrollment I quit. That's when I learned about vesting and assignment of commissions. I had signed up 72 people on the marketplace by the time I quit and never saw a dollar of commission on them and of course the commission from any life insurance I sold disappeared as well.

So January of 2014 it's like I'm starting from scratch, got reappointed with all my carriers, and went back to helping people on the FFM. I still was able to enroll another 70 or so people and that was most of my income in 2014. I sold a little life insurance along the way, but not much.

2015 & 16 were much like 2014 but I sold more on the marketplace and sold a little more life. I was probably up to about 48K in gross commissions. Then in 2016 all the insurance carriers (but one) announced they were pulling out of the FFM in my area. The one that was left decided not to pay commission. Lovely. That was probably about September when we found that out. I had already added Medicare stuff to my mix, but really hadn't done much with it...but now I made it my thing.

2017 I was finding out that finding people that were turning 65 was not very easy. I did some direct mail, but I was having commissions paid as earned and, as you probably know, the math just doesn't work out. It barely works out if you are getting advances.

2018 I moved my contracts to an agency that gave set appointments and full commissions...but the leads were garbage. I'd show up and the people would say some thing like, "what's this all about?" They had no idea why I was there. I ran those appointments for about a month to six weeks and sold maybe 2-3 Advantage plans. The agency referred to them as "opportunities" ...not appointments. I decided to save my gas and not run them. So during OE for Medicare and Health Insurance I did some part D reviews, did some new business, and did a little health insurance (there are paying carriers in my area again) and I also read the "December to Remember " thread.

 

[benneaf]

The world of FE seems almost too good to be true. Buy the leads, set appointments, write the business, rinse and repeat. I talked to a lot of the guys that spend time on this insurance forum. I called and spoke with the legendary John Dugger (I think that's his name). I talked with the FEX guys and Dave Duford (his video's and articles are freakin' every where). And I decided to give it a shot.

I am using TargetLeads for lead generation. I've used them before for direct mail and they have the boring little FE mailers that look like everyone elses. I don't buy 20 leads a week I buy direct mail every week. I am dropping 1650 - 2200 pieces a week (for the last 3-4) weeks. The reply cards get posted on their CRM site and the hard copies are batch mailed to me. The leads have just started coming in on the first mailing.

So my plan is to call the leads and set appointments and door knock the ones with no phone number or who don't answer. That's it...pretty straight forward. That much mail should generate an average of 20+ leads a week as they start rolling in so we'll see what happens. Is FE sales doable for me? Can I do the work? Is the money really there commission wise? Do the policies stay on the books or does it roll off and I end up in bankruptcy over it? Stay tuned in and we'll see.

Also over the last few years I've liquidated my retirement savings, now have credit card debt, and got a loan to afford the mailers...so if this doesn't work I'm up shit creek.

 

[goillini52]

The world of FE seems almost too good to be true. Buy the leads, set appointments, write the business, rinse and repeat. I talked to a lot of the guys that spend time on this insurance forum. I called and spoke with the legendary John Dugger (I think that's his name). I talked with the FEX guys and Dave Duford (his video's and articles are freakin' every where). And I decided to give it a shot.

I am using TargetLeads for lead generation. I've used them before for direct mail and they have the boring little FE mailers that look like everyone elses. I don't buy 20 leads a week I buy direct mail every week. I am dropping 1650 - 2200 pieces a week (for the last 3-4) weeks. The reply cards get posted on their CRM site and the hard copies are batch mailed to me. The leads have just started coming in on the first mailing.

So my plan is to call the leads and set appointments and door knock the ones with no phone number or who don't answer. That's it...pretty straight forward. That much mail should generate an average of 20+ leads a week as they start rolling in so we'll see what happens. Is FE sales doable for me? Can I do the work? Is the money really there commission wise? Do the policies stay on the books or does it roll off and I end up in bankruptcy over it? Stay tuned in and we'll see.

Also over the last few years I've liquidated my retirement savings, now have credit card debt, and got a load to afford the mailers...so if this doesn't work I'm up shit creek.

 

[benneaf]

The leads started coming in so I decided that this would be my first day in the field focused on FE. I've had 11 lead cards returned and 8 of those had phone number. Of those 8 with a phone number 5 answered and I got 3 appointments. Two of the three appointments had a husband and wife in the household. I was pretty stoked over those three appointments I gotta tell ya. They all seemed like they were glad I called and they were ready to see me. This was starting to look easy.

The first appointment was at a well kept doublewide with two newer cars under the metal carport. They both had insurance and wills and were wanting a brochure to make sure they had not missed anything they needed to do. I tried multiple times to quote against what they had, but the husband was, very nicely and tactfully, having none of that. The wife even suggested she could go get their current policies out of the safe and he shot that down. We talked Medicare a little and I tried to plant some seeds there for the future, but nothing today.

At the second appointment I got met at the door by an older man smoking a cig looking like he'd done a bit too much crack with Lindsey Lohan 5 years ago. He said his wife was too sick today and could he reschedule? We did tentatively reschedule for next Monday, but I'll call first and see what that looks like.

3rd appointment had a lot of FE insurance 3-4 policies! Wow...replacement opportunity...but not. She had secured them all in the 2 yrs after her husband died with no insurance 10 years ago...and since then she'd developed a myriad of health issues herself. She had policies from Lincoln, Trans, AARP/MetLife, and someone else. With all her current issues I looked like Trans was probably the carrier to go with...but the estimate wasn't even competitive. Then I looked at Family Benefit and with all the meds she was on I would have expected a graded policy and even with them the total was only $10 off. I didn't think moving someone with existing policies to graded was a good move so I didn't push it too hard. It could have been (just now thinking of this) that the 1035 exchange amounts could have swung a larger premium difference...but it would have still likely been a no or a graded policy. Oh well. So that was my 3 appointment and then I went to door knocking.

1. Don't remember sending anything in and no interest.
2. Lead with no phone number also had a fence around their house with a remote opener at the driveway, no gate in the fence for walk ups, and a big dog. Maybe I'll write them a follow up letter and let them know I'll quote them if they can find a way for me to get into their castle.
3. Doesn't remember sending anything in, no interest, no job, no income, applying for disability, angry at the world.
4. One car in driveway, but another set of ruts in gravel/mud. Knocked several times no one came to door.

The 11th lead came in off the second mailing in a different area geographically so I'll pick it up when I hit that area.

I got to see some pretty countryside, but other than that it was a pretty crappy start to selling FE.

 

[Newby]

The leads started coming in so I decided that this would be my first day in the field focused on FE. I've had 11 lead cards returned and 8 of those had phone number. Of those 8 with a phone number 5 answered and I got 3 appointments. Two of the three appointments had a husband and wife in the household. I was pretty stoked over those three appointments I gotta tell ya. They all seemed like they were glad I called and they were ready to see me. This was starting to look easy.

The first appointment was at a well kept doublewide with two newer cars under the metal carport. They both had insurance and wills and were wanting a brochure to make sure they had not missed anything they needed to do. I tried multiple times to quote against what they had, but the husband was, very nicely and tactfully, having none of that. The wife even suggested she could go get their current policies out of the safe and he shot that down. We talked Medicare a little and I tried to plant some seeds there for the future, but nothing today.

At the second appointment I got met at the door by an older man smoking a cig looking like he'd done a bit too much crack with Lindsey Lohan 5 years ago. He said his wife was too sick today and could he reschedule? We did tentatively reschedule for next Monday, but I'll call first and see what that looks like.

3rd appointment had a lot of FE insurance 3-4 policies! Wow...replacement opportunity...but not. She had secured them all in the 2 yrs after her husband died with no insurance 10 years ago...and since then she'd developed a myriad of health issues herself. She had policies from Lincoln, Trans, AARP/MetLife, and someone else. With all her current issues I looked like Trans was probably the carrier to go with...but the estimate wasn't even competitive. Then I looked at Family Benefit and with all the meds she was on I would have expected a graded policy and even with them the total was only $10 off. I didn't think moving someone with existing policies to graded was a good move so I didn't push it too hard. It could have been (just now thinking of this) that the 1035 exchange amounts could have swung a larger premium difference...but it would have still likely been a no or a graded policy. Oh well. So that was my 3 appointment and then I went to door knocking.

1. Don't remember sending anything in and no interest.
2. Lead with no phone number also had a fence around their house with a remote opener at the driveway, no gate in the fence for walk ups, and a big dog. Maybe I'll write them a follow up letter and let them know I'll quote them if they can find a way for me to get into their castle.
3. Doesn't remember sending anything in, no interest, no job, no income, applying for disability, angry at the world.
4. One car in driveway, but another set of ruts in gravel/mud. Knocked several times no one came to door.

The 11th lead came in off the second mailing in a different area geographically so I'll pick it up when I hit that area.

I got to see some pretty countryside, but other than that it was a pretty crappy start to selling FE.

If you are getting leads off your 2nd mailing and only got 11 leads, that means you are paying $66 per lead? And you are going it alone with no training? And working with a tight budget? This is a recipe for an unhappy ending unless I’m missing something.

I don’t recall speaking with you but have spoke with a lot of people over the past couple of months. I’m not sure what could have been more attractive at going solo over getting with us or Dave. Getting your lead cost contained is huge. And getting good training and advice is much more important (especially at your stage) than people realize.

Feel free to reach out tomorrow. I actually have several areas in Tennessee with overstock leads. If you are in one of those areas I can help you on your lead cost if nothing else.

 

[benneaf]

The leads get posted as they come in. They don't hold them and post them in batches. From past experience they keep trickling in for weeks. So 11 came in right away, but there'll likely be that many or more still show up.

I have my contracts with you all and Dave. I've watched tons of Dave's video's and have rearranged my Friday schedule so I can get on the FEX conference calls.

 

[Newby]

The leads get posted as they come in. They don't hold them and post them in batches. From past experience they keep trickling in for weeks. So 11 came in right away, but there'll likely be that many or more still show up.

I have my contracts with you all and Dave. I've watched tons of Dave's video's and have rearranged my Friday schedule so I can get on the FEX conference calls.

Yes some scraggler leads come in late. I actually have had a lead come in 2-years after the mailing. But the majority come in the first week and then a lesser amount in the 2nd week. Just one or two after that.

 

[Todd King]

The leads get posted as they come in. They don't hold them and post them in batches. From past experience they keep trickling in for weeks. So 11 came in right away, but there'll likely be that many or more still show up.

I have my contracts with you all and Dave. I've watched tons of Dave's video's and have rearranged my Friday schedule so I can get on the FEX conference calls.

Going back to the Medicare side of things, it honestly sounds like you need some training and to also not focus on T65s. You would probably do better with ages 67 and up.

 

[DayTimer]

I called and spoke with the legendary John Dugger (I think that's his name)

Legendary?

Never heard of him ... he sells FE?

 

[goillini52]

Legendary?

Never heard of him ... he sells FE?

Isn't John Dugger the name of the pirate in Treasure Island?