Very new to FE, Three questions.

[rousemark]

Hi everyone, first off..I'm a male - not that my gender matters/

Second: Thanks for the clarification on commissions and answer my [many] questions! For the record, my blended commission is about 75% , WL I'm paid more than TL and a few other products..

So my goal this calendar year is $130k in AP that will yield around $100k in gross earnings.

FE, I see a number of FE producers doing $5-10k AP per WEEK! by door knocking.

So if I focus more on FE, drive around town selling $5,000WL policies, I can literally make $200k per year?

That amazes me, honestly. I'm new to the insurance business, I knew there was money to be made but never thought several hundred k per year. In my previous world, I was flying around the US in a consulting role - away from family for 4 days a week, making a tad over $100k.

I dont know for sure but I would think the average FE policy is around $10K and the average annual premium is probably about $600 per year.. However, most of the agents that speak of door knocking are not canvassing neighborhoods but are knocking on the door of a prospect that has sent in a lead card requesting information...A lead which has cost them in the neighborhood of $30.. It seems from what others have posted over the year, they have lead costs of around $150 per sale... So if they sell a $600 policy at 110% that is $660 in commission , minus $150 lead cost equals a net of $510. If they manage to keep 80% for the year that is about $400.. So if you want $200K in first year commission alone, you will have to sell 500 policies per year or 10 per week.. Can it be done? Yes, but only the very elite producers do it.

 

[Jose Arteaga]

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?

Hi Honest,
Most people do fit with KSKJ. Preferred as you know is usually best price. Their standard for COPD or Insulin, is often better priced then most others preferred.

The faith requirement has never been an issue for me...well except for the two Jehovah's witness I ran into in about 4 years.

I find most seniors I deal with, do consider themselves to be Christian/Catholic faith.
Its not a problem.

The reason a lot of agents don't use KSKJ in my opinion is:

1. They don't have them.
2. Commission is to low, when can get more using other carriers.
3. For new agents they start them on as earned witch makes hard to keep cash flow to pay for leads. Although after some 3-6 months they can be on advanced. It is harder if starting in this biz.

My take, Advanced or not, since I was new agent and all up until today. I always give my customers the best priced carrier if it was KSKJ great, if it was Oxford or Family Benefit/Trinity, Awesome. I always kept the faith that if did right by them things would take care of themselves and by the grace of God they have much better than I could have planned.

feel free to reach.

 

[Jose Arteaga]

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

Personally in California I would contract with KSKJ Transamerica, Oxford, SNL, Gerber.

 

[NAF1138]

Kskj is actual garbage. Their product name is price buster fe. Certificate. Agents don’t tell their clients it’s a fraternal (yeah I have ran into this). Also most agents just replace with kskj. But sure if you want to lowball with something that is not guaranteed go for it. To me I view them as used car salesman. Most will replace anything. 2 dollar difference outside of contest. They train that.

Hey, if you aren’t educated with two baby mommas that is great for you then.

Jealous?

 

[goillini52]

Kskj is actual garbage. Their product name is price buster fe. Certificate. Agents don’t tell their clients it’s a fraternal (yeah I have ran into this). Also most agents just replace with kskj. But sure if you want to lowball with something that is not guaranteed go for it. To me I view them as used car salesman. Most will replace anything. 2 dollar difference outside of contest. They train that.

Hey, if you aren’t educated with two baby mommas that is great for you then.

Hey, if you don't gots at least 3 baby mommas, you don't gots it goin' on Dude.

 

[WinoBlues]

Just an FYI, Jehovah's witness are Christians. Most of the adult Witnesses I know are baptized. Not 'consider themselves Christian'.

No, I am not. I enjoy my vices.

 

[Thedude]

Jealous?

Of that strong koolaid you have ?

Yessss I am

 

[NAF1138]

Of that strong koolaid you have ?

Yessss I am

It's good. I can fit you for a loud plaid jacket while you drink it.

 

[NAF1138]

Just an FYI, Jehovah's witness are Christians. Most of the adult Witnesses I know are baptized. Not 'consider themselves Christian'.

No, I am not. I enjoy my vices.

JW have a problem with Kskj being "catholic". They are the only ones I have had object too. Actually wrote a lady with their par whole life and 3 days later she called me back out to write her a different company because she wanted the coverage but being associated with a company with Catholic in the name, even if they are not specifically Catholic anymore, was keeping her awake at night. So now she has mutual trust instead.

 

[Thedude]

JW have a problem with Kskj being "catholic". They are the only ones I have had object too. Actually wrote a lady with their par whole life and 3 days later she called me back out to write her a different company because she wanted the coverage but being associated with a company with Catholic in the name, even if they are not specifically Catholic anymore, was keeping her awake at night. So now she has mutual trust instead.

Catholics aren’t exactly highly thought of nowadays, that doesn’t surprise me.