Trinity Life-Family Benefit Final Expense: Face to Face Requirement--6/1/202

[Newby]

Well, if they did not allow it and then did, even if temporary, and then go back to not allowing it I don't know what else you would call it. Compare to SNL that did not allow it, started allowing it on an emergency measure but now are proceeding full steam ahead saying they are going to continue to do so even after the "emergency" is over.

So in your view they shouldn’t have allowed it during the lockdown at all? I don’t agree. I think they did us a favor. But they have never changed paths at all. They listen to the requests of agents/agencies that put their business where their mouth is. It was a help to our agents when needed. It’s not needed anymore for the most part. So back to business.

If they just blindly jump in to telesales they would be putting one of the most competitive FE products on the market at risk of needing “tweaked.” And tweets are often not good. Best to leave it the way it is.

 

[Baseball7]

I think Alvin was very aggressive at an opportune time and I appreciate it personally.

 

[BibH]

Foresters is back in telesales I think your comment is a little in accurate now.

Foresters only got back in telesales due to necessity with covid . When they exited a yr or more ago there were many comments on here about how they had excessive death claims and persistency problems with telesales . There's no question to be successful with telesales you need a strong back office like Root and especially Ramiz . Ramiz having rates 20% higher than trinity and overriding agents making 100% on the front end and at least 10% on the back end has huge cash flow to have 5-10 people conserving business . He makes contact twice a yr, sends out a big packet on initial signup and takes care of everything for the agent . We'll see over the coming 12 months what sticks with the independent telesales agent from business written the last 2 months.

 

[rousemark]

So in your view they shouldn’t have allowed it during the lockdown at all? I don’t agree. I think they did us a favor. But they have never changed paths at all. They listen to the requests of agents/agencies that put their business where their mouth is. It was a help to our agents when needed. It’s not needed anymore for the most part. So back to business.

If they just blindly jump in to telesales they would be putting one of the most competitive FE products on the market at risk of needing “tweaked.” And tweets are often not good. Best to leave it the way it is.

That is not what I said.. I simply said originally they reverted back to the way they were doing it before.... and, that is what they did. However, whether they do it now or later, telesales seem to be not only the way of now but of the future. Not too long ago, people were saying that there was no way telesales would ever work for a company or an agent but I believe that has been proven to have been in error.

 

[Newby]

That is not what I said.. I simply said originally they reverted back to the way they were doing it before.... and, that is what they did. However, whether they do it now or later, telesales seem to be not only the way of now but of the future. Not too long ago, people were saying that there was no way telesales would ever work for a company or an agent but I believe that has been proven to have been in error.

I guess it’s schematics but you using the words “revert back” is what’s throwing me off. The agreed to allow sales by phone from April 1st to June 1st from the very beginning. The just did what they said they would. It’s not a change of course for their entire business. It was reacting to a national pandemic just like most businesses had to do.

 

[Tahoe Ray]

Trinity's #1 agent is a telesales guy.

Hopefully they progress to allow everyone to continue doing this type of business.

 

[Rob Lion]

Trinity's #1 agent is a telesales guy.

Hopefully they progress to allow everyone to continue doing this type of business.

I saw that lol, i was like damn he climbed up the leaderboards quick.

 

[theinsuranceman]

That is not what I said.. I simply said originally they reverted back to the way they were doing it before.... and, that is what they did. However, whether they do it now or later, telesales seem to be not only the way of now but of the future. Not too long ago, people were saying that there was no way telesales would ever work for a company or an agent but I believe that has been proven to have been in error.

Yep. I remember having spirited debates several years ago up here with numerous FE agents about FE telesales. I was the lone wolf up here saying FE telesales works, and works well, for a dedicated agent. I remember JD in particular saying it was a failed model...lol.

Here we are about 8 years later. Now FE telesales is becoming more and more popular with agents starting to sing its praises. And the nay sayers from years ago have disappeared...lol..

 

[Life Hawk]

Yep. I remember having spirited debates several years ago up here with numerous FE agents about FE telesales. I was the lone wolf up here saying FE telesales works, and works well, for a dedicated agent. I remember JD in particular saying it was a failed model...lol.

Here we are about 8 years later. Now FE telesales is becoming more and more popular with agents starting to sing its praises. And the nay sayers from years ago have disappeared...lol..

Not exactly... in the field, the right F2F guy will replace most of those telesales. As a matter of fact, I would go as far to say that someone who has already been sold over the phone (obvious criteria in place) is primed to be replaced.

The answer is in the emotion that drove the sale to begin with...

IMHO...

(And yes, I'm that guy... when the situation is primed, proper and present.)

 

[theinsuranceman]

Not exactly... in the field, the right F2F guy will replace most of those telesales. As a matter of fact, I would go as far to say that someone who has already been sold over the phone (obvious criteria in place) is primed to be replaced.

The answer is in the emotion that drove the sale to begin with...

IMHO...

(And yes, I'm that guy... when the situation is primed, proper and present.)

You are definitely allowed your opinion.

Here's my facts: I've been doing ONLY FE sales since 2009. I started doing FE telesales in 2005. My 13 month telesales persistency seems to be 2%-5% less than field sales after 13 months.

This 5 pt. reduction in 13 month persistency is more than compensated by the fact that I can eliminate all the wasted time of driving from pt.A to pt.B, as well as eliminating being stood up for an appointment, as well as doing multiple drive by's trying to catch someone home by door knocking leads. After all, when I hang the phone up with one presentation I dial the next number and I'm already at the next front door. Of course I would miss out on that juicy 58 cents per mile tax deduction for business use of a persona vehicle. And I would also miss out on Teeing the lead.

I can average more presentations per hour in a 40 hour work week via telesales because I've cut out the activities that waste time which makes this business model more efficient. Even if my closing % via telesales was 20% of contacted leads versus 30% of contacted leads face 2 face, I could still make more profit per hour, even though my ROI is less.

Concerning replacements: An agent's charisma, and "knowing how to salt the business down" after the sale has a lot to do with replacement reduction......telesales or face 2 face. Most agents, after they make the sale, are in a hurry to get off the phone (or leave the house if face 2 face) because they are afraid Ms. Jones will change her mind in the next few min. At this stage there is nothing for the agent to fear.

One last thought concerning the bold text in your post above: It's not the emotion that drove the sale....that only allows you to close the business up front. It's the emotion that keeps the sale.....the agent handling the warm down effectively and "salting the business down".

And when an agent can ALSO help Ms. Jones get her casket locked in for $1500 for the rest of her life with a selection of over 200 to pick from, along with savings on her vault and monument like Sr Life agents are doing, replacement becomes more difficult.

Especially when these same savings are available completely free for up to 4 other family members. Ms. Jones's mother could be 100 years old and too old to get insurance. But her 100 year old mother can be enrolled into Legacy completely free with this lower merchandise price in effect and if her mother passes away on the 1st day everything is issued then she (her family) still get these savings. It's like her 100 year old mother just got an approx. $4500 life insurance policy with immediate coverage....simply because of the Legacy savings. When Legacy is explained properly in the sales presentation, I don't have to tell Ms. Jones she needs this plan. She instead tells me "she wants this plan".

If Todd Doe agent comes along 6 months later with something $10 per month cheaper trying to replace my business, Ms. Jones will usually (though not always) say something like "I've already got my stuff picked out, I'm happy with it, and I'm not going to change anything". Not to mention she could lose the free Legacy savings on the 4 other family members if she cancels everything. This helps persistency....both telesales and field sales.

Legacy has been shown to improve 13 month FE persistency in the 9% range. That means more $$$ for the agent, more $$$ for the carrier, and more protected families. It's a win, win, win for all 3.

These are my conclusions based on my 21 years of selling ONLY FE. How much experience do you have with FE telesales, and with FE face 2 face sales, to form your opinions about this business model?

If anyone has any questions call me.