Why is $50mp and $10,000 the average in FE?

[rousemark]

"The policy that stays, is the policy that pays."

And, the policy that pays, is the policy that stays...

 

[HoosierLife]

We have a $65 monthly average. I attribute that to Brandon's $59, $79 and $99 ballpark close that we teach agents.

 

[rousemark]

Maybe that is my disconnect.

I don't ask about the price until after I find the problem that needs a solution. It is their problem, I have the solution, the solution has a price. Now, I may not be able to fix it all today. But I will be back.

If it is funeral and they just need something low my starting point is $15,000. Much lower than that they need to die soon or that will bury them shallow enough a puppy could dig them up.

You are in a much more expensive area than most of the folks. In this area the average funeral runs $8K and creamtion $3K.. Therefore most agents I know are talking in terms of $5K-$10K to allow a little buffer for inflation depending on the insured's desires. They talk more about the amount the prospects feels they need to accomplish what they want to accomplish rather than premium amount. The fixation on premium only occurs if they get an objection to the amount quoted..

 

[WinoBlues]

We have a $65 monthly average. I attribute that to Brandon's $59, $79 and $99 ballpark close that we teach agents.

So training.

 

[HoosierLife]

So training.

Not a lot of need based selling in the FE market.

We're trying to squeeze the max premium out of every house without going too high.

 

[WinoBlues]

They talk more about the amount the prospects feels they need to accomplish what they want to accomplish rather than premium amount. The fixation on premium only occurs if they get an objection to the amount quoted..

Sounds similar.

I ask the problem (big number), I find the solution (small number)

 

[theinsuranceman]

Not a lot of need based selling in the FE market.

We're trying to squeeze the max premium out of every house without going too high.

I agree the bold is what you want to accomplish. So how do you know what the max amount of premium you can squeeze from each lead is? Do you look at their bank statements? What's the secret?

 

[tikibarrister]

I wonder what percentage of the $10K the next of kin spends on Mildred's funeral vs. hookers & blow after she's gone. Quick stop at the drive-thru Earl Scheib crematorium and then it's off to all-the-Thunderbird-you-can-drink partytown...I bet it happens more than the Mildreds want to believe.

 

[goillini52]

I wonder what percentage of the $10K the next of kin spends on Mildred's funeral vs. hookers & blow after she's gone. Quick stop at the drive-thru Earl Scheib crematorium and then it's off to all-the-Thunderbird-you-can-drink partytown...I bet it happens more than the Mildreds want to believe.

 

[theinsuranceman]

I wonder what percentage of the $10K the next of kin spends on Mildred's funeral vs. hookers & blow after she's gone. Quick stop at the drive-thru Earl Scheib crematorium and then it's off to all-the-Thunderbird-you-can-drink partytown...I bet it happens more than the Mildreds want to believe.

My guess is it's a small %. What do other FE agents think?