The Typical FE Client Demographic

[gordon112]

Bad neighborhood or good, I am adding a FE company that offers bank draft on Debit cards that way it eliminates the need for a checking account and is taken directly out. There is no over draft like there is on a checking or savings account.

The only bad thing I heard from 5star is that they have a lousy % rate, so I am not sure how it is going forward.

Back to the original post, Again, the key is common sense, if you have a lead you don't want to work in a neighborhood you know is bad, then stop mailing or turn off the dialer for that zip code. I have worked Detroit, probably one of the worst hit areas from the downturn and I managed to do fine. It was making sure you manage your time and verify information, after all we work an intangible product that everyone wants to putt off.

 

[digfesales105]

All I know is I'm not going to drop in the most ghetto neighborhood on the face of the planet in my town -- not because they are black, but because most have no checking account.

I don't care how bad these people need insurance and "believe" in it, but if they don't have a checking account -- black or white -- they aren't qualified, period.

That's not racism. That's just good business acumen.

How do you find out where the "good" business is? You either have to drop mail and find out through trial and error. Or, drive through the neighborhood yourself. If it looks like a run-down ghetto, re-direct your marketing capital to a better area of town (but not too good).

Personally, after working both urban and rural areas, I prefer going about an hour's drive from my house into the woods to peddle. Why? Less competition and generally friendlier folks. Most have bank accounts, too.

Also, for you newbs reading this, if you're dropping mail without income filters with the major FMOs, expect your average persistency to be between 75% to 80%. This is average and characteristic of the demographic you're targeting.

What everybody else is telling you is abnormal, or attests to someone who is a long-term pro.

Again, totally agree for the most part as far as the rural areas. GREAT market but you usually do a TON of driving and again, I know I look like an agent basher and I don't mean to be but most agents would immediately complain about gas and miles etc... in those areas. But then they won't go work the urban areas because the "clientele"? Damn if you do...

As far as the mailers, I was thinking exactly what you said in the end when I read this? When I order mail, which I don't anymore, I tell them my income range? Driving through a neighborhood can't tell you if they have a bank account or not? I've sold many policy's where there were holes in the friggin floor and they wrote me a check for that day?

But to each his own though.
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I just reread my post and don't think it was overly racist at all. I believe everything I said was quite true. As a kid growing up I was exposed to many things that gave me the beliefs that I still hold true today. Many of them have to do with things I was forced to deal with in college.

Selling FE just re-inforces those veiws. For the first time in my life I am considering getting a concealed weapons permit. The areas I have been working over the past couple of years are not safe for wasps like me.

My winter beater and work vehicle used to be a 99 black 740il. I don't feel safe driving it to work anymore. When I would park it on the street to go to a clients home there would be fully grown black men riding bikes circling it like vultures. I got stopped on two or three occassions by the police for doing nothing at all. It was obvious they thought I was dealing drugs.

Obama the other day called Romney dumb. If the roles were reversed Romney would be called a racist. ABout 7 years ago I worked for a mortgage company that was being bought out by Al Sharpton. Before he bought it we held a coctail party for him so he could get to know the people working there. When he came he had a possey of about 8 to ten big black men waring huge gold chains. He stated he brought them for protection.

Its ok for him to say it but when I say it, I am a racist.

Again...never said anything about being a racist. I said "politically incorrect". That's exactly what this thread is. By all means not racist. But that is exactly what is wrong with our society! Everything else you just said I COMPLETELY AGREE! Things can said to one person but turn it around and all hell breaks loose! It's bullshit! Just like this thread. I just pointed out the hypocracy(sp?) in this Thread and it turns into being called a "racist".

For the record...no one is a racist nor ever was called one. So let's go ahead and put that one back in the trunk please.
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Bad neighborhood or good, I am adding a FE company that offers bank draft on Debit cards that way it eliminates the need for a checking account and is taken directly out. There is no over draft like there is on a checking or savings account.

The only bad thing I heard from 5star is that they have a lousy % rate, so I am not sure how it is going forward.

Back to the original post, Again, the key is common sense, if you have a lead you don't want to work in a neighborhood you know is bad, then stop mailing or turn off the dialer for that zip code. I have worked Detroit, probably one of the worst hit areas from the downturn and I managed to do fine. It was making sure you manage your time and verify information, after all we work an intangible product that everyone wants to putt off.

I live in Columbus and used to LOVE the chance to go and train agents in Detroit! Def wake call I'll tell you that much but I never left Detroit under $3K in AP. Since talking about that...I am not some big dude as one likes to point out from time to time but I was working Detroit. Window was open in their kitchen...the school next door just let out. Next thing you know..pop, pop, pop and people running. Now, in my mind I was like "WHAT THE F#$@!!!!!!" LOL But the guy didn't flinch. So...I kept going with my sale and walked out to my black hummer with black tinted windows through all the police cars and just went about my day. A little shake'n but...it's our business. The hummer comment? I've never, ever had an issue with anyone messing with my rides in those areas. If they did, that's what you have insurance for.
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I agree. Don't deal with people that you do not want to deal with on an ongoing basis. The natural FE market is poor people and people that have been world class procrastinators and/or poor planners. Thatter tend to have more money than the poor but are harder to deal with, in my experience, because of a lifetime of not dealing with it.

The above come in all colors and sizes. When I said "those are my people" I take that to heart. It wasn't a slam. I love dealing with the FE market. I love dealing with people in the projects. I have more issues in the white projects than I do in the black projects and I'm a white guy. I get most of my referrals from my black clients.

It is more work to keep the low income stuff on the books and I do a lot of service work. I stay in touch with my clients and help them when they need help. But, I enjoy that interaction.

Maybe it's because I'm not an insurance lifer and only got into this business later in life and after working 18 years in a factory and 11 years as a field rep for the union? I was also a poor planner about life insurance before I got into this business and only had what life insurance the company gave me. Thank God nothing happened to me back then. I can relate to my prospects because of my life experiences. I have lived paycheck to paycheck in the past and "run out of money before running out of month".

Our life experiences define us all. Mine unknowingly prepared me for this market I work.

I love it!

I know this is def going to shock the HELL out of most of you as I think I may be drunk right now(I'M JUST KIDDING AND HAVING SOME FUN JD!!) BUT....I actually agree with this entire post. I think along the exact same lines. If it wasn't for this career path, I would not even be as set up financially as I am.

Not even close! This career I think in a way saved my financial life.

Alright...I've taken up enough of the posts on here. I'm putting this Thread to bed and get'n the hell outta to grab some wings and some football.

 

[Cory]

I've been in some neighborhoods that my gut told me to certainly no visit after dark. I've had FE policies lapse for sweet old ladies and people that appeared qualified. I've had to rewrite policies several times due to insufficient funds to one lady with whom has become a friend. And (like most of you) have written large policies to people that upon first meeting thought I'll be lucky to get a $20 premium. I've never considered race or social class... only the right product at the best price they can afford. If I knew of an appointment I would offer to buy them a cup of coffee or even lunch somewhere else that I felt more comfortable. You do have to think of your safety and I'll take a chargeback any day as long as I can conduct business safely, make a living and come home to the things and people we enjoy. I work to live...not live to work. Just my two cents...

 

[TDFnCali]

[/B]




Oh God...this is getting way out of hand. My friend...go back and high light where I said this thread was racist. See that's the problem. People are so, so afraid to say anything towards "race" because right away folks jump on saying "racist! racist!". LOL But, that will NEVER change. But lets slow our roll a bit. I never called anyone racist and I'd caution to think before you say something like that.

What I was pointing out, which I KNOW was not intended, was the fact the conversation was geared around selling in black neighborhoods or blacks being smart enough to see value in the product. yes...I will quote it next but I didn't want to go there to call anyone out.

MY POINT was simple. But I know a lot still won't see because most just wanna get their jollies off when there is any sign of fight instead of having a mature debate. But you'll have that on this Forum. My point finally is that everyone pukes about "I am an agent to help everyone I sit down with" blah blah blah. But then you have this thread about selling to blacks? Plain and simple fella's. There ya go. Hopefully you can understand it now???

As far as the nut bag comment....again...you see the word "racial" and you think that means only blacks? HAHALOL "Racial Activists" fight for all minority rights. And yes...when I see a group of folks standing in front a govt building or on a street corner interrupting traffic or screaming at me at a light so loud and I have to crank up my Howard...first thing I think is...GET A JOB!!! Next thing I think of is...what a bunch of NUT JOBS! My opinion. That's what's great about America. I can feel that way and they can spend their day bitching out in public.

Oooohhhh I got it now...

You state this thread is politically incorrect AND racial...and then state u wish an African American would chime in & defend your thoughts (not sure you're exact words, but close enough).

I, being whats called an African American, do chime in & point out that the OP's post wasnt racists, he just asked a question he heard & wanted people's opinion. And that maybe nfl's comments could be racists, but that was questionable & I didnt take it as such on 1st read.

But then I tell u that YOUR comments to us "African Americans" or any other minority here WERE DEFINITELY the most racists thing said in the entire thread bar none!! And your "come back" is telling me the definition "racial activists" means all races?? DUH...but thanks! The definition has NO BEARING on the fact that you PROUDLY called yourself "Not 1 of those nut bags (who fight for racial equality)!" Good to know where u stand..no need to defend it now, its been said & not even recanted when given the opportunity to do so.

I appreciate u telling me (and others) this thread is racial/politically incorrect, and upon hearing it wasnt & that u were the only 1 racists...then telling me, you werent but the post was! Gotta love the wht guy telling the black guy whats racists & what isnt...thanks again Massa white man, we blacks arent as smart as you & cant read!!

PS- You're about as clueless as the wht guy proclaiming "some of my best friends are black" to defend his racism!

 

[WinoBlues]

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.

I am one of the agents that took offense. I am very profesional. I only work by refferal or my own book of business. Where did any of us say anything negitive about Blacks? I have four cases in pending at the momment. All are refferals from current long time clients. Again, point out were this is a Black bashing ur unprofessional thread.

BTW, my do not care comment was because you seem to have some kind of history with a couple of the other guys. As far as I am concerned it is not with me.

 

[Mattschmidt]

I have a feeling that next time I log into forum, this thread will be in the fight club...good grief...

 

[tins]

Oooohhhh

I can't read any of your posts without thinking about the Boondocks.

 

[nfl72]

When I order telemarketed press one leads I give them an area coad and my leads will be within a 30 mile radius of that area code. I take the good with the bad as far as areas are concerned. I would guess about 65 to 70% of my business is black. I will go just about anywhere to get some business.

I don't do this job because I like too. I do it because I need to make money and don't like working more than 2 or 3 days a week. The mortgage business spoiled me along with thousands of other salesmen. I prefer not to deal with idiots but when your selling FE policies its comes with the territory.

 

[Norwayguy]

Wow 6 pages....Sam needs to change this to "As the insurance-forum.net turns"

 

[GreenSky]

Although I don't sell FE, I do sell MA plans and many are duals. I'll go anywhere in CA except Fresno.

Rick