Why 20 a week?

[shonceman]

What's the script when a 30 yo answers? I mean for me since I'd be focusing on FE and not term or anything else. I've done several IUL presentations before but for the sake of the final expense specialist rookie, what happens when the young guns answer the door? Or do we try to sell them the term? Lol

"Are your parents home?"

Seriously, though, I'm not strictly FE, so I can go a lot of directions. One of those directions is home service, so if I've got a genuinely interested 30 yr old single mom in a lower income urban neighborhood, I'll probably write the debit "family plan" (which is SIWL with a child rider). If it's a 30 year old professional, I'll go to term, or even FU Whole Life if it's feasible, or a combination. I'm not really a fan of IUL at younger ages.

But for most of the neighborhoods I'm in with FE, if they're a 30 year old blue collar or service worker, I'm probably showing them whatever version of FE I can write on that age group (being extra cautious, though, because persistency at younger ages is a real problem!).

But be careful about adding too many product lines at first. Learn your FE products inside and out, then branch out later if appropriate.

 

[Newby]

"Are your parents home?"

Seriously, though, I'm not strictly FE, so I can go a lot of directions. One of those directions is home service, so if I've got a genuinely interested 30 yr old single mom in a lower income urban neighborhood, I'll probably write the debit "family plan" (which is SIWL with a child rider). If it's a 30 year old professional, I'll go to term, or even FU Whole Life if it's feasible, or a combination. I'm not really a fan of IUL at younger ages.

But for most of the neighborhoods I'm in with FE, if they're a 30 year old blue collar or service worker, I'm probably showing them whatever version of FE I can write on that age group (being extra cautious, though, because persistency at younger ages is a real problem!).

But be careful about adding too many product lines at first. Learn your FE products inside and out, then branch out later if appropriate.

^^^ Yes! I would never assume this young person wants a flexible premium UL policy. I'm sure those have their place but I assume it's going to be a more sophisticated high income business owner that you are going to do annual reviews with every year. Not a young mother doing an impulse buy because an agent knocked on her door and said the right stuff.

I would either do an FE policy if small amount or a Traditional participating WL with a convertible term rider.

And if you young bucks think finding Lincoln H policies is good inventory, wait until you are 20-years plus in the biz and start getting nice conversions from term to whole-life IF you laid your groundwork with good convertible term policies in your early years.

I personally like LaFayette, KSKJ and RNA for convertible term. When you are in the field and run across someone who bought a mortgage term policy (very common) do a price comparison of a LaFayette Heritage WL for $10,000 or $15,000 with a 20-year term rider in the amount of their MP policy. That's a fun appointment!

And it's extra fun 20 years down the road when they call you as the term is ending and want to keep a large chunk of it as WL. It's guaranteed issue regardless of their current health but rated as the health rating they got 20- years earlier and you get paid full commission on it. It's a beautiful thing.

 

[WinoBlues]

And it's extra fun 20 years down the road when they call you as the term is ending and want to keep a large chunk of it as WL.

Dabbler!

 

[jerryrut]

I'd like to get a good iul carrier if I do. I learned a lot about that one. Could end up running into an MP close?

I don't know much about anything but most of the highly successful insurance agents seem to find their niche, become an "expert" and focus on it to the exclusion of all other products.

 

[Valetic]

I don't know much about anything but most of the highly successful insurance agents seem to find their niche, become an "expert" and focus on it to the exclusion of all other products.

Seems to be the trend.

 

[shonceman]

That is true, but it's been interesting to watch some guys on the FE forum, who used to be strictly focused on FE, stretching out into other areas of the life insurance business. My friend Joshua Jones (@HoosierLife) moved into Medicare, then mortgage protection products. I even saw him discussing annuities in a thread the other day. Then this morning I got an email from Dave Duford with a video on annuities as well. We better start policing ourselves or we'll end up becoming real insurance men like @WinoBlues!

 

[jerryrut]

Seems to be the trend.

Not so much a trend, that's the way it's been for a long time. I've known my whole career that that is the best route but I was so stupid that I wanted to be all things to all people and to have the absolute perfect plan for everybody; if somebody wanted something, I wanted to be able to provide it; huge mistake. All that does is fragment your efforts and make you inefficient. If you focus on FE, you will inevitably run across med supp biz and you can cross sell that with ease but that's about as far as I would go; but only after I got FE down pat. That's what I would do if I could have a do over. Just my opinion. You don't have to work 24/7 to make a really good living with this.

 

[UKTX]

With time comes experience. And with experience comes the ability to pivot to other products/markets if so desired.

However, with that said, 15 years in I only sell FE and the occasional MAPD. I didn't start out selling FE though.

I guess my best advice is don't try to be everything to everyone. That is perfectly OK.

I once had an ADT or Cable guy come knocking at my door when I was about 28. He asked if my Dad was in! I quickly got rid of that person off my porch!

 

[billyb]

The OP is from Georgia. I am not sure from what county, but he will be lucky to get 20 leads a week from that state. Some vendors won't even mail in Georgia.

 

[Rob Lion]

OK. I just re-read your post and see what you said. I took it wrong.

Yes, that is what we and every agency I know of has always preached. If you are going into business for yourself and you don't have around $4,000 seed money, do NOT do it. The timing is not right for you.

It's crazy to think you can go into business completely broke. Spend a few months building up capitol. Deliver pizzas. Mow lawns. Whatever you need to do to build up your money before starting your business. Or you will fall victim to the "free-leads" "financed leads" scams that so many broke agents fall into.

Not at all free lead programs are scams lol, a lot of people hate buying leads and dont mind a 30% contract .