Thinking About Getting into Final Expense Sales

quackattack99

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I initially posted this in another forum, but think it may be more appropriate for this forum..but think it may be more appropriate for this forum. Thanks!!

Hello, I am new to this forum, and just looking for some info. I initially became interested in selling final expense insurance about two years ago. I talked to some folks from Lincoln Heritage, and even spent a day with one if their agents, shawdowing him on his sales calls. As I recall, he had a pretty successful day, as he wrote two new policies. He was a very nice guy, and seemed sincere about the income he was making. I believe it was in the $60,000 annual range. Another opportunity came up, and I took it. Thus, putting the final expense sales idea on the back burner. I am now reconsidering it, and have talked to a few different companies. My questions are this; How hard is it to make it in this field? What is the washout rate?. Not looking to get rich here at all, but would like to make a decent income. Do most agents make a decent income, in the $50 to $60K range annually, after they pay for leads, gas, chargebacks, etc? What are some of the better companies to go with? I have been pretty impressed with Lincoln Heritage so far, but not locked in at this point. I apologize for the long post, and sincerely appreciate any straight advice anyone on here may be albe to offer..
 
Lincoln Heritage? Seriously? You should do a search on here and see what the general concenses is about them.

Are you looking to be captive or independent?
 
I am serious, that is the reason for the question. It seems like Independent is the way to go. But, again, just exploring here and trying to find the best way to go. Thanks for your reply.
 
Independent IS the way to go....unless....you need hand-holding on learning how to sell. It really depends on the experience of the agent as to where they should start.
 
Yes, you can make $50-60k after lead costs in the first year. You will need to place about four per week to make FYC of $60,000 after leads. In year 2 you will get the bulk of the as-earned portion and some renewals. FE should be viewed as a multi-year income because of the renewals. By year three it gets much better. But your commission level and lead cost are big variables.
 
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