WolfOfInsurance
Expert
- 32
Which niche product do you believe is the best to specialize in and why?
FEX VS Term &.IUL (Best Niche?)
- Thread starter WolfOfInsurance
- Start date
- 16,881
Final Expense.
1. Leads are plentiful
2. Daytime hours (the client base is retired.)
3. Commissions are higher than most other types of life insurance.
1. Leads are plentiful
2. Daytime hours (the client base is retired.)
3. Commissions are higher than most other types of life insurance.
To add to that, the underwriting is very simple and straightforward, as are the prospects. Makes for a smaller learning curve.
Also, plenty of easy cross sell opportunities, especially on the health side.
- 10,329
Most IUL or WL clients are white collar and able to carve out time during the day to speak. I rarely work a night or weekend.
Commission levels are higher on the products..... commission per client is SIGNIFICANTLY lower on FE, because the average premium is SIGNIFICANTLY lower on FE.
- 10,329
The one the client in front of me needs.
Learn them all. A golfer doesnt carry just 1 club in their bag. A fisherman doesnt carry just 1 lure in their tackle box or 1 size hook.
That being said, FE is mostly lower income folks. IUL/WL/Term will be middle market to upper income market.
Lots of money can be made in any niche. It comes down to what you personally enjoy doing and the type of client you personally enjoy working with.
Me, you couldnt pay me enough to do what most door knocking FE agents do in a normal day. But thats just me.
- 24,978
It's truly not for everyone. Sometimes it takes a strong stomach lol.
But it's a steadily growing market. And many FE agents easily cross sell Medicare.
- 24,978
I have been in some nasty homes and walked away from some. Not as many as guys that run low income leads, but enough. I am not doing roaches and fleas @Josh. OK, that was a funny story.
But that wasn't what got me to change, it was multiple lapses, billing, bank changes, NSFs on the same group of people. You FE only guys earn your money.
- 29,489
Josh is the Forum bed bug guy.
It's part of the business. Every niche has pros and cons.
As far as lapses and chargebacks, I maintain 90+ percent persistency with my go-to carriers. It's a matter of utilizing SS Billing, selling properly (without being pushy or overselling), and walking away from bad business (chime, green dot, etc).
Similar threads
