Why Specialize in FE?

[Tahoe Ray]

Nothing actually drew me to to FE. That's just where my career path took me from captive to mortgage protection to the MA field to FE.

It allows me to make the money I want to make and run the schedule I want to run. Contrary to how others say they want to help people I don't do this for the philanthropy. I do this to help my family. If by chance doing my job well helps others then that's just a cherry on top.

No matter your market, I would wager that this is the business model for most. There is the occasional person who plays for the love of the game, but most play for the rewards.

If you can enjoy what you do and provide for your family (to the extent that all of you want to live it), then all the better. The best part is that with what we do, you can run your own business, make a lot of money AND be helpful with the end result.

 

[digfesales105]

I buy telemarketed leads and most of them come from fairly poor neighborhoods. Most of them have very little money and its all they can do to just pay for FE. They can't pay for an annuity or critical illness policies. From what I hear med sups don''t pay all that well.

I have sold FE for 4 years and in that time have sold two term policies and two traditional whole life policies. I try to avoid anything but FE. Not saying it's right or wrong its just how I prefer to work. Some people would suggest I am leaving money on the table but most people that know me think I am doing pretty good.

I like leaving a home knowing they are approved, which might also be why I am not enthrawled with Americo. There are many different ways to make money in this business. Some people cross sell. I don't. I like things to be as simple as possible. If I go on the road for two days I expect to sell 4 to 8 FE policies. My brain is too small to clutter it with med sups, universal lilfe, term life mortgage insurance etc. If they seem to have a need or a want for FE I will work the hell out of them anything else and I lose interest.

1. You could get better quality customers if they raised their demo's on who they telemarket too. Don't get me wrong, it sounds like it's working for you. But we control our own data and raised the bar. It does take a little longer to develop a qualified lead but we never run into customers who can't afford our product. Ask them to raise the income level and deal only with 50-80 and you will see a slight difference.

Next, as far as the Thread starter. FE is very lucrative if you simply just focus on it. Limiting income one said? It's 100% commission. You can make as much as you want? That's confusing.

I always explain like this....if you had heart trouble...would you go see a pediatrician? No. You see a heart specialist. Every once in a blue moon you might sell something else but JD is correct in saying if you are running lead cards developed for FE...you will rarely get anything else except a request for renters insurance. You just have to make up your mind and stick to it. Either learn everything or focus on one. Nothing in the middle or it will be a sink hole for you regarding your success.

 

[Newby]

FE agents, along with Mortgage protection. are the bottom feeders of the insurance agency. Imagine being trained to show a pic of a widow holding out a cup for dontations as people enter the funerak parlor? sad, but that is how the FE agents are trained.

You are very misguided. I'm sure there are some terrible sales trainers out there. But that is not the norm.

 

[rousemark]

FE agents, along with Mortgage protection. are the bottom feeders of the insurance agency. Imagine being trained to show a pic of a widow holding out a cup for dontations as people enter the funerak parlor? sad, but that is how the FE agents are trained.

In 41 years I have never seen a pic like that. It is not a true representation of the facts. However, in my cancer presentation I have a photo of a jar sitting on a store counter with a sign requesting donations. That is a true scene that you see played out every day by people who do not have enough money to pay the medical bills and daily living expenses.

Over the years, I tried to be a general practitioner because I wanted everyone to be a potential prospect. However, the people that I see who have made exceptional incomes in this business have been basically one trick ponies...They specialized.. Some in estate planning, others in FE or specific supplemental health coverages, such as either cancer, CI, med supp, etc. There were a few agency owners with UI making $1M per year in the 70s selling nothing but cancer plans. Some individual agents were making $200K

 

[Cory]

The senior market is a solid market to specialize or for your foot-in-the-door to cross-sell other products. They are a more mature crowd and if they don't have the money recognize the importance of setting aside the money for these products. Can be done... if done right. Good luck!

 

[supersupps]

I believe ???? I got that pic of the collection cup from Asurea..

 

[WinoBlues]

I believe ???? I got that pic of the collection cup from Asurea..

I would compare my professionalism with you any day.

 

[captain94]

FE agents, along with Mortgage protection. are the bottom feeders of the insurance agency. Imagine being trained to show a pic of a widow holding out a cup for dontations as people enter the funerak parlor? sad, but that is how the FE agents are trained.

I have never seen nor been trained to "show a picture" and my guess is you know very little about the FE business and even less about Supplements

 

[nfl72]

In regards to DigFE105's comments

I have never been involved is setting up criteria in regards to the leads I purchase. I have been told they already use the age group of 50 to 80. Do all of the leads fall in that group no, but the vast majority do.

In regards to income I am not sure what they are using and I have never given it much thought because I have alwasy been under the impression the financial data is a guess at best.

In regards to buying FE leads I am under the impression that income is not all that relevant anyway. Most of my business is written with people who are on a very fixed income. And I am not sure I would want it any other way. If I was going to start looking for Anuities I might want them to up the income but I don't plan on doing that any time soon.

Currently when I buy 25 leads 8 to ten normally pan out quite well. What is most tiring is working the other 15 to 17 flakes.

Bottomline for me is I am not 100% sure what kind of criteria they are using when they get me the leads but my thought process tells me if i want an improvement in my production I should be looking more at getting a better sales presentation and less at the quality of my leads.
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Also, Is there something wrong with being a bottom feeder?

 

[rousemark]

In regards to DigFE105's comments

I have never been involved is setting up criteria in regards to the leads I purchase. I have been told they already use the age group of 50 to 80. Do all of the leads fall in that group no, but the vast majority do.

In regards to income I am not sure what they are using and I have never given it much thought because I have alwasy been under the impression the financial data is a guess at best.

In regards to buying FE leads I am under the impression that income is not all that relevant anyway. Most of my business is written with people who are on a very fixed income. And I am not sure I would want it any other way. If I was going to start looking for Anuities I might want them to up the income but I don't plan on doing that any time soon.

Currently when I buy 25 leads 8 to ten normally pan out quite well. What is most tiring is working the other 15 to 17 flakes.

Bottomline for me is I am not 100% sure what kind of criteria they are using when they get me the leads but my thought process tells me if i want an improvement in my production I should be looking more at getting a better sales presentation and less at the quality of my leads.
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Also, Is there something wrong with being a bottom feeder?

What is the difference between a catfish and a lawyer?

One is a bottom feeder and the other is a fish.