Very new to FE, Three questions.

hitch

New Member
15
Hi, I'm an under 1 year agent for a non captive firm. I was just contracted in January and have sold around $20k in AP. I'm thoroughly excited about the firm I work for. Our prospecting method is heavily through referrals, which I find to be pretty efficient.

That being said, as I was looking to supplement my time with leads to be more productive, I came across this whole thing of final expense, and final expense leads...seems like it's nothing more than cheap whole life? My current contracted company has a minimum of 25k whole life, that seems like it's on the high side for FE.

My primary question is around commission structure. I see around the forums mentioned around 110%-130% on avg. What is this % on? Is it on the annual premium? So if the AP is $500, is the commission 1.1 x $500 or $550? Then are the renewals around (AVG) 5% so .05% 500 = $25?

I'm currently paid 75% (or so) of AP, so I'm finding it difficult to understand/believe in FE you would get paid more than the first year premium..?


Second question:
How long does it typically take to get contracted with a FE company? Gerber, Assurity, etc. If you had to pick a top 5 that are goto companies that can satisfy most of your clients, which would those be? What is the processes like to get contracted? I'm currently Life/Health/LTC in multiple states and have E&O.

Thank you!
 
Sorry, I don't see how to edit the body of the post, only the title.

My THIRD question is, does telesales without F2F work with FE? Most of my business right now is over the phone or screen share for some more advanced folks.

Just seems like tele sales would be a little more efficient, instead of spending hours in the car running around a 50mi radius, you could be on the phone closing business.

Just curious!

Thanks a ton!
 
In reverse order. Telesales works with FE, sort of. I don't think it would work part time. The only people I know making it work work at it very full time.

It doesn't take very long to get appointed. Some of that varies by state. I live in one of the longer states to get appointments in and it's only about 3 weeks.

My favorite company is Family Benefit/Trinity. If you are super part time working referrals you might like Transamerica, Liberty Bankers, Mutual of Omaha, Americo or Royal Neighbors more. I also like Kskj a lot but there is some controversy with them at the moment and they aren't great for phone sales anyway.

Yes average comp is 110 to 120. 130 is high but not crazy. Why it works is probably more complicated than you care to actually get into, but it does. For what you are writing 75 isn't bad though (a little low) But it's very bad for FE.
 
She asked a lot of questions for me.

I have further questions:

I only want to focus my first year on 3 FE companies. I have KsKj and two more?

If KSKJ is the cheapest and can replace almost any company? Why don’t agents use them as a first option if it is “best for the customers” even if the commission is a bit lower for the agent. Something has to give?

Is it because they have the faith requirement ?

Do most clients qualify for KSKJ?
 
I know a gentleman who basically said screw it and went with KSKJ alone and made a fortune. Is that the best route to take?

What two companies are there besides them ... (In terms of pricing because I am in a market where people are stingy )
 
Comission is based on AP.. FE is nothing more than small face WL. However, the commissions tend to be higher than they are "regular" WL plans ... As to how long it takes to get contracted depends upon the company and the state. With most companies if a person is in the state of TN, they can send an application in with their contracting request..
 
She asked a lot of questions for me.

I have further questions:

I only want to focus my first year on 3 FE companies. I have KsKj and two more?

If KSKJ is the cheapest and can replace almost any company? Why don’t agents use them as a first option if it is “best for the customers” even if the commission is a bit lower for the agent. Something has to give?

Is it because they have the faith requirement ?

Do most clients qualify for KSKJ?

How do you know the poster is a "she" ?
 
She asked a lot of questions for me.

I have further questions:

I only want to focus my first year on 3 FE companies. I have KsKj and two more?

If KSKJ is the cheapest and can replace almost any company? Why don’t agents use them as a first option if it is “best for the customers” even if the commission is a bit lower for the agent. Something has to give?

Is it because they have the faith requirement ?

Do most clients qualify for KSKJ?
Have you ever Baptized anybody before? :err:
 

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