The Typical FE Client Demographic

[Rearden]

As I continue to sell FE, I am more and more biased to take Rouse's and Newby's approach.

Target better quality prospects, accept a lower closing percentage, but in return, have better persistency, and an ability to cross sell MedSupps, Cancer Policies, etc.

 

[rousemark]

As I continue to sell FE, I am more and more biased to take Rouse's and Newby's approach.

Target better quality prospects, accept a lower closing percentage, but in return, have better persistency, and an ability to cross sell MedSupps, Cancer Policies, etc.

Always knew you a teachable young 'un!

 

[jdeasy]

If you choose to work the very bottom income strata, you find it easier to close the sale but you will also experience a much lower persistency. For the most part I avoid public housing with the exception of some very well kept senior housing we have in the area but then, I don't work full time in FE. If I did, I might be a little less discriminating. (but not much)

I do work FE fulltime and you are describing my people!

 

[rousemark]

I do work FE fulltime and you are describing my people!

Yeah.. But I wouldn't want to put in all the hours you put in. 3 days planning, doing paperwork, service work, making appts, etc. 2 days in the field and 2 days trying to figure out how to spend all the money you are making. That is seven days per week.. Just no rest for the weary

 

[HomeService]

He was talking about debit or home service.

 

[Justin Bilyj]

As I continue to sell FE, I am more and more biased to take Rouse's and Newby's approach.

Target better quality prospects, accept a lower closing percentage, but in return, have better persistency, and an ability to cross sell MedSupps, Cancer Policies, etc.

I was on the fence trying to decide if go T65 or FE as a primary route earlier this year, well after witnessing the potential for chargebacks and lapses in that market I am reassessing my focus and switching to T65 and cross-selling FE (as earned). Heading into the winter months and the holiday season where people don't like to buy insurance as much, I think the only crowd that is buying is the ones who have an X date or T65. Just sent out my last 2k FE mailers a couple weeks ago...

As far as the FE goes, I had to sit and think about ways I could increase retention and lower lapse, I came up with a few strategies, one of which is a specified SendOutCards campaign.

Dropped off two policies to my clients yesterday, one had taken out an additional LH policy and the other one an AARP, I blew them both up and canceled both over the phone with them there. Its like a battle!

I think from now on I will bring a print off of the AARP plans and the Q&A that shows premiums non-guaranteed and the term limits on policies people feel are permanent.

 

[captain94]

I stopped taking cc as payment for my agency. Bank accounts only that has helped a lot with charge backs

 

[Newby]

I'm pretty amazed that JD and I work in the exact same area (he works a much bigger radius than I do though) and we very rarely bump into each other's sales.

I do work more of a middle class prospect base and he likes the lowest income base the best. He makes more pure FE sales than I do. I do more cross selling.

There is more than one way to skin a cat.

 

[gordon112]

I would have to agree with the first assessment of the average FE lead. Many of them are black, low to no income, rent rather than own, very rarely have a computer and their elevator doesn't go to the top floor. If your selliing FE and don't live in an area like that you need to drive to one.

I just spent 2 days in Muskegon, which is two hours from my home. 90% of my leads fit that description to the T. Out of 12 leads, 6 were on Kidney Dialysis.

One of the bigest problems I am having working that area is many of the leads are just too dumb to realize you are saving them money. Like Ron White says, "you can't fix stupid"

Hey NFL, I see you are giving that area a try. I sold a lot of policies out that way but my lead source was mailers and got a mixed bag. Some out in small towns and some in the city, and some that just didn't have it all together like you said. Good luck with your journey, sometimes it worth it to hit a couple months out of the year if the drive is not that far.

 

[digfesales105]

This thread is so "politically incorrect" on so many levels some of you should really be ashamed of yourselves. I cannot believe I'm the first one to point that out. Most typically talk about having the "right" carrier to help everyone and give them the best product yet this post is literally degrading African Americans point blank as if they are not worth the time or are just energy.

Guys...and I'm sure some will take offense to my post but as I'm reading this thread I'm literally like WTF? Are these guys seriously saying these things out in the open?

Listen...my best clients are in lower income areas. Why? because they see death every single day. They believe in life insurance. You're gonna have policy's fall off no matter the "demographic". But this thread is throwing us as professionals back t the 1940's in a heart beat and frankly is embarrassing as a professional.

Sorry guys. Embarrassing.