Changing from Final Expense to...

[Ksutton]

Hello everyone,

To save everyone’s time I’ll make this brief and to the point. I sold Final Expense as an independent agent for about 3 years. I was very successful but I quickly became burnt out. I took some time away from insurance altogether, (about 1.5 years). I’m considering getting back into insurance and was wondering if someone can relate to my experience and also give me some guidance to another route I can take.

Thanks,

Ken

 

[DHK]

I’m considering getting back into insurance and was wondering if someone can relate to my experience and also give me some guidance to another route I can take.

Who do you want to be a hero to?

Amazon product ASIN B07WX2GPNN
What market do you see yourself making a difference for?

Who are you already set up to serve in a profitable way? Or do you need additional training and skills?

 

[Todd King]

Hello everyone,

To save everyone’s time I’ll make this brief and to the point. I sold Final Expense as an independent agent for about 3 years. I was very successful but I quickly became burnt out. I took some time away from insurance altogether, (about 1.5 years). I’m considering getting back into insurance and was wondering if someone can relate to my experience and also give me some guidance to another route I can take.

Thanks,

Ken

If you do somewhat like the senior market, then go with Medicare. It's a different thing to cross-sell FE to a Medicare client. The Medicare market is (or shouldn't be) a one and done and then on to the next, type of thing. Several cross-sell opportunities.

 

[Travis Price]

So, I agree with DHK.. You need to find a market with the clientele you want to work with.

I HATE the normal FE market. I hate having to talk people into things.

Medicare doesn't pay as much up front and it can be crowded to prospect for, you need to know Medicare, and you're working at the whim of the government at times, however.. there's not a lot of "selling", residuals are way better and the book is relatively sticky.

For most states, after 3 years of only closing 2 cases a week you're at 100k in commissions.

If you can build your business on them calling you.. it's probably the easiest insurance specialty you'll find.

Most of your time is service and relationship building. A lot of that you can automate.

That being said, you have to be able to effectively explain complicated concepts to people that have never shopped for insurance before.

 

[BarryNY]

Hello everyone,

To save everyone’s time I’ll make this brief and to the point. I sold Final Expense as an independent agent for about 3 years. I was very successful but I quickly became burnt out. I took some time away from insurance altogether, (about 1.5 years). I’m considering getting back into insurance and was wondering if someone can relate to my experience and also give me some guidance to another route I can take.

Thanks,

Ken

Hey Ken...you were successful but got burnt out. What I'd want to know is why the burn out?
Did you do F2F or telesales?

For F2F - I can see getting burnt out.
For telesales if you're using the wrong leads (outbound dialing) I'm shocked you lasted the 3 years...with outbound dialing I think you'd burn out in 6 months...

 

[Ksutton]

Thanks for all the feedback thus far - I did F2F for about 2.5 years and I did tele sales for maybe 6 months.

So, I agree with DHK.. You need to find a market with the clientele you want to work with.

I HATE the normal FE market. I hate having to talk people into things.

Medicare doesn't pay as much up front and it can be crowded to prospect for, you need to know Medicare, and you're working at the whim of the government at times, however.. there's not a lot of "selling", residuals are way better and the book is relatively sticky.

For most states, after 3 years of only closing 2 cases a week you're at 100k in commissions.

If you can build your business on them calling you.. it's probably the easiest insurance specialty you'll find.

Most of your time is service and relationship building. A lot of that you can automate.

That being said, you have to be able to effectively explain complicated concepts to people that have never shopped for insurance before.

I don’t have a problem with effectively communicating concepts and making them simple to understand. Although, I’m not interested in diving back into the same clientele. I’d like to work with a different clientele I’m just not sure who that is at this time.

A large part of me wants to help out families with mortgage protection.
Another part of me thinks I should do some more research on the different markets / clients that are out there before I commit.

 

[Travis Price]

Thanks for all the feedback thus far - I did F2F for about 2.5 years and I did tele sales for maybe 6 months.




I don’t have a problem with effectively communicating concepts and making them simple to understand. Although, I’m not interested in diving back into the same clientele. I’d like to work with a different clientele I’m just not sure who that is at this time.

A large part of me wants to help out families with mortgage protection.
Another part of me thinks I should do some more research on the different markets / clients that are out there before I commit.

I mean, run your business your way. It's easier to sell to an existing client than a new one.

After 6 years working in a pita, complicated job... I like when a client calls me and wants to buy a policy vs having to find someone new and convince them to buy from me.

 

[Ksutton]

I mean, run your business your way. It's easier to sell to an existing client than a new one.

After 6 years working in a pita, complicated job... I like when a client calls me and wants to buy a policy vs having to find someone new and convince them to buy from me.

I’m not throwing anything out the window - and yes I agree, I would much rather have people calling me to buy something. That would be awesome.

 

[Travis Price]

Oh, on my end.. I'm not trying to convince you of anything...

Mortgage protection is fine if you want to do it. So is any other form of insurance.

For me, Medicare is easy. So I enjoy it.

I couldn't imagine grinding to make a living, but again.. that's me.

 

[Ksutton]

Oh, on my end.. I'm not trying to convince you of anything...

Mortgage protection is fine if you want to do it. So is any other form of insurance.

For me, Medicare is easy. So I enjoy it.

I couldn't imagine grinding to make a living, but again.. that's me.

I’d be interested to learn more. I’ve heard this before from people but I have just never got my health insurance license.

do you have your business set up that people call you rather than you going out and prospecting / calling ?