FE Leads in Tennessee

[DonP]

Age 65 male $10k Age 72 Male $10k
FB- $53.75 FB-$78.01
Moo-$56.48 Moo-$83.99
SL(preferred)- $64.96 SL(preferred)-$96.41

I go in any house SL is in its history. In the first 3 yrs i can beat the price with Fb and in the first 5 yrs i can beat it with Lifeshield. If its 4 yrs are older i'll use Rpu and an additional policy or cash out and near the same price. Either way its gone .

 

[noah]

Are you contracting agents at 120% + like Todd,Newby give their crew ?

What’s better $375 per thousand and an 80% contract or $450 per thousand at 120% contract level ?

And I’m asking you what’s better for the agent,not the upline.

 

[theinsuranceman]

Are you contracting agents at 120% + like Todd,Newby give their crew ?

What’s better $375 per thousand and an 80% contract or $450 per thousand at 120% contract level ?

And I’m asking you what’s better for the agent,not the upline.

Todd gives you 120% and good advice and that's it.

I can give you 120% and good advice and I'll cosign for you to get leads on credit and I'll cosign for your charge backs so they come out of the back end (where you don't feel it) rather than coming out of your advances (where you do feel it and it can be painful for you).

I can also get you that 120% and let you pay $375 per 1000. Does Todd or Newby do that?
I don't think anyone up here does that.

 

[Newby]

Are you contracting agents at 120% + like Todd,Newby give their crew ?

What’s better $375 per thousand and an 80% contract or $450 per thousand at 120% contract level ?

And I’m asking you what’s better for the agent,not the upline.

That is a simple math problem. Easy to solve.
If the agent never sells a single policy they were better off paying $375 than $450.
If the agent only sells $1,000 of annual premium they would make $800 commission with the lower lead cost. Or $1,200 commission at the higher lead cost. Which is $400 more minus your extra lead cost of $75 so they pocketed $375 extra.

if 1,000 piece mailer returns 10 to 12 leads (around 1 to 1.2 response rate in most areas) you should be selling $1,500 to $2,000 in premium from that. So that would make it $800 additional commission minus the $75 extra cost so an extra $725 per week for the average agent.

if you spend that difference $725 per week in leads every week you should be getting around 20 to 25 leads which should have you selling close to $4,000 weekly on average which makes the difference in commission go to $1,600 per week.

Taking reduced commissions for discounted leads is only for people who are really bad at math or who do not believe they will sell even minimal amounts.

It’s not my opinion. It’s math.

 

[theinsuranceman]

Age 65 male $10k Age 72 Male $10k
FB- $53.75 FB-$78.01
Moo-$56.48 Moo-$83.99
SL(preferred)- $64.96 SL(preferred)-$96.41

I go in any house SL is in its history. In the first 3 yrs i can beat the price with Fb and in the first 5 yrs i can beat it with Lifeshield. If its 4 yrs are older i'll use Rpu and an additional policy or cash out and near the same price. Either way its gone .

65 Male $10k is $49.17 super-preferred; $46.06 ultimate preferred
72 Male $10k is $76.97super-preferred; $70.52 ultimate-preferred

You are wrong again! 2 points for you! lol

 

[theinsuranceman]

That is a simple math problem. Easy to solve.
If the agent never sells a single policy they were better off paying $375 than $450.
If the agent only sells $1,000 of annual premium they would make $800 commission with the lower lead cost. Or $1,200 commission at the higher lead cost. Which is $400 more minus your extra lead cost of $75 so they pocketed $375 extra.

if 1,000 piece mailer returns 10 to 12 leads (around 1 to 1.2 response rate in most areas) you should be selling $1,500 to $2,000 in premium from that. So that would make it $800 additional commission minus the $75 extra cost so an extra $725 per week for the average agent.

if you spend that difference $725 per week in leads every week you should be getting around 20 to 25 leads which should have you selling close to $4,000 weekly on average which makes the difference in commission go to $1,600 per week.

Taking reduced commissions for discounted leads is only for people who are really bad at math or who do not believe they will sell even minimal amounts.

It’s not my opinion. It’s math.

I agree. Top commissions and paying full price for fresh exclusive directly worded leads yields a decent or better closer the most profit per hour.

In fact, for the better producers, it's even more important to have top commissions while paying for fresh exclusive leads.

Numbers don't lie, but the mathematician might...lol.

 

[goillini52]

No. My 1st sentence above says they're $32 each. Another hit? lol

"Any agents that want to contract with me and enjoy 25+ DM leads per week in TN please call me. Other states also."

That looks like it could "suggest" that you can buy the leads from SL for $32, but if they contract under you they'll get 25+ free leads a week. Sounds a bit misleading?

I don't do hits anymore. Now that it's legal I do edibles.

 

[shonceman]

Are you contracting agents at 120% + like Todd,Newby give their crew ?

What’s better $375 per thousand and an 80% contract or $450 per thousand at 120% contract level ?

And I’m asking you what’s better for the agent,not the upline.

Todd gives you 120% and good advice and that's it.

I can give you 120% and good advice and I'll cosign for you to get leads on credit and I'll cosign for your charge backs so they come out of the back end (where you don't feel it) rather than coming out of your advances (where you do feel it and it can be painful for you).

I can also get you that 120% and let you pay $375 per 1000. Does Todd or Newby do that?
I don't think anyone up here does that.

If first year commission rates are equal, besides level of support as Greg points out, three other areas to consider are renewal rate, vesting, and chargebacks.

1) Renewal rate: I’m in this for the long term, so renewals are actually more important to me than FYC. So when comparing companies, I’m comparing 3 year, 5 year, and 10 year payout. It also matters what the lifetime service commission looks like after 10 years.

2) Vesting: How high is the threshold for vested renewals? For example, my Settlers Life renewals were vested as long as my total commissions exceed $25/month (or it may have been based on $300/year). But under my Life Of Boston contract (old name for LH), my renewals stopped if my comp dropped below $200/mo.

I lost the LOB renewals not too long after I stopped writing for them. I never wrote more than a half dozen cases per year with Settlers. They terminated my contract when I moved out of Virginia. So I haven’t written anything under that contract in over 15 years. But I’m still getting renewals which would have been long gone if the threshold was even a little higher. I got another contract later when they expanded into Texas, but wrote only a few cases before they finally shut down. So I would have lost those renewals immediately on contract termination if the vesting was much higher.

One other point on vesting: Besides the threshold for vesting, what other conditions does the company impose for the agent to be paid renewals? What can cause renewals to be lost or suspended? Losing renewals is understandable if an ethical violation is discovered. But what if the agent loses renewals for not meeting a production level, or because he doesn’t sell a particular product the company wants him to promote, etc.?

Chargeback rules: Agents on the forum seem well aware that GI companies have varying chargeback provisions for death or lapse. But did you know that some companies charge back for death or lapse within certain periods even on standard policies? This seems to be the case more often with captive type carriers.

So, I just lost a $175/month case at the 6 month point. Commission rate 120%. No chargeback for lapse. So, even though they’re lapsing, I still made $1260 on that case. But if I had written with a company that charged back 100% for lapse within 6 months, I would have made exactly $0! 120% of zero is still zero! Given the fact that it’s pretty normal to lose 20% of your business to first year lapses, charge back provisions matter a lot in considering total comp.

To sum up, agencies and companies tout their FYC rates when competing for new recruits. But FYC doesn’t tell the whole story. (And lead price doesn’t really tell any part of the story!)

Edit: I’m withdrawing the question I asked earlier because I don’t want to put anybody on the spot. Every company has good points and not so good points. These are just some points I take into consideration, among other things, when evaluating which companies I should contract with.

 

[DonP]

Greg you dang well know few few people get ultimate preferred or super preferred. Your deceiving people. Just like when SL agents go in house quoting those rates and then coming back with a different much higher rate. "Sorry Miss Ellen you got the preferred rate instead of super preferred but the good news is your premium won't go up you'll just get a little less coverage" Bait and switch. Anything to get the sale . Its funny i replace 3-5 SL a month and i never see those rates. Maybe others on the board can chime in and comment if they see these rates in the field. Greg your nothing but a hyping recruiter . If that were the case we'd all have SL in our bag at 120% for competitive times.

 

[rousemark]

Greg you dang well know few few people get ultimate preferred or super preferred. Your deceiving people. Just like when SL agents go in house quoting those rates and then coming back with a different much higher rate. "Sorry Miss Ellen you got the preferred rate instead of super preferred but the good news is your premium won't go up you'll just get a little less coverage" Bait and switch. Anything to get the sale . Its funny i replace 3-5 SL a month and i never see those rates. Maybe others on the board can chime in and comment if they see these rates in the field. Greg your nothing but a hyping recruiter . If that were the case we'd all have SL in our bag at 120% for competitive times.

Far too many "gotchas" in the contract other than rates for me to have considered contracting with them.