- 1,819
wow you are so smart !! I'm surprised goillini52! HahaMuslimism?
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
wow you are so smart !! I'm surprised goillini52! HahaMuslimism?
Smart AND a smart ass.wow you are so smart !! I'm surprised goillini52! Haha
At least you got one word out of five right...Smart AND a smart ass.
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!
Hitch - you get your answers?
HI Hitch,
Welcome to the FE world.
Are fimilar with Licoln Heritage?
https://www.lhlic.com/
Please chek out . I like to hear your feedback.
Create a Great Day!
Hello,
Thanks for asking. I did get my answers and had a conversation with a forum member.
I'm currently in the processes of getting appointed with a few carriers so that I can better serve my clients. Right now, my minimum WL policy is 25k face amount. I'm finding that in the FE world, a monthly budget for a life policy is between $20 and $50/mo, or a little higher if it's children paying for their aging parents.
That being said, I'm slowly pushing this through, I think this will be a great supplement to what I already have going on.
Question: How long does the appointment processes typically take?