Final Expense or Mortage Protection?

[HoosierLife]

You can correct me if I'm wrong JD, but I think his disdain for marketers is when they over-hype everything. How much you're going to make, how easy it will be, rah rah rah!

I understand the mentality. I lose a lot of potential recruits because I tell them like it is and give them realistic expectations. Then the other guy comes along and sells them a pie in the sky dream.

Those that drink the koolaid too easily will probably end up being the worst producers anyway. There's too many churn and burn agencies out there.

Just look on LinkedIn. You got Family First Life and Symetry Financial doing that all day long.

At least Symetry is up front about screwing you with a 60% contract with the hope of one day screwing your downline with that same 60% contracts, with the upside of you getting the imaginary huge equity bonus. I think the top 3 guys only received a couple thousand last month.

Family First Life keeps talking about giving out a 140% and starting people at 100%. But when you actually look at their comp grid (which I have) you'll see that their actual commission starts at 75-85% on their Final Expense products. And the 140% is on a product nobody ever sells, which is already lower than street as it is.

That's why you rarely see them post here. They'd get called out in a second. Oh they're around. That's why if you look at the top of the forum it says 83,000 discussions and over 1.1 million messages.

 

[NSRH]

It's not the insurance industry that is tough, it's just sales in general. It's the same thing in any sales environment.

If you paid an average insurance agent 100k base to do the work of what it would take make 200k in commissions they'd do it with a smile on their face and be very grateful.

Its not sales, as much as it is what peoples expectations are.

This forum, at times, can make selling final expense sound so simple and easy.

Its not. Its hard work. And most wont make it.

 

[Newby]

If you paid an average insurance agent 100k base to do the work of what it would take make 200k in commissions they'd do it with a smile on their face and be very grateful.

Its not sales, as much as it is what peoples expectations are.

This forum, at times, can make selling final expense sound so simple and easy.

Its not. Its hard work. And most wont make it.

I may have mis-read your comment but the way I read it I don't agree with that. I think it is the incentive pay (commissions) that gets people to work much harder than the average person. You put them on a salary they will never do the work of someone who would sell and make 200k on commissions.

I wish there were a way to put every person in America on commission. This country would thrive.

 

[NSRH]

I may have mis-read your comment but the way I read it I don't agree with that. I think it is the incentive pay (commissions) that gets people to work much harder than the average person. You put them on a salary they will never do the work of someone who would sell and make 200k on commissions.

I wish there were a way to put every person in America on commission. This country would thrive.

I agree with you. I believe most people would agree with you. However, when it comes down to actually doing the work, most will fall short. That is exactly why most agents are not netting 100k+.

 

[jdeasy]

I may have mis-read your comment but the way I read it I don't agree with that. I think it is the incentive pay (commissions) that gets people to work much harder than the average person. You put them on a salary they will never do the work of someone who would sell and make 200k on commissions.

I wish there were a way to put every person in America on commission. This country would thrive.

I don't know. I guess I'm somewhere in the middle of what y'all are saying. I understand both points.

Coming from labor and worked 18 years in a factory and then worked in organizing and listened to what was important to workers, I'm leaning more to what NSRH said as the real truth.

For people wired like you, Scott, it's definitely the commission. But the average worker is not wired like that.

 

[VolAgent]

I wish there were a way to put every person in America on commission. This country would thrive.

Sorry, but that is completely wrong. Most people can't stomach the stress and uncertainty that comes with commission.

Ramiz is right, many people will gladly accept a salary lower than the commission they could otherwise earn.

 

[Newby]

What I'm saying is when people look over at the guy/girl next to them and know they are going to make the same pay no matter how much harder the work in comparison. Or how many battles they fight to improve the company's policies and bottom line. It takes the fight right out of them. They become just another, just another, just another employee doing his time. And none of those guys is going to be worth $200,000.

But you put that carot out in front of them and say hey you have no limits. You can make 10x what the slackers next to you can make...some of them will step up to the challenge. The cream will rise. And the complainers will show their stripes of why they can't do it.

I know exactly what you guys mean though. I once worked with a lady at the Honda Shop. We had her on probably a $500 weekly paycheck (back in the early 1980's) and she got a performance bonus each month which usually amounted to around $500 more dollars. She came to us one day just stressed out over never knowing exactly how much she was going to make. She wanted just a small raise (amounted to $25 weekly) and no bonus.

We gave it to her. But it was the first sign that she was not a good person to put in a position that could affect the company. She couldn't be motivated. Hated change. Never did beyond the average work. Eventually had to demote her and she moved on.

Not everyone is wired the same. But my point s, I wish there was a way to always pay the standout people more than the average people. Whether it's the drive through window worker at McDonalds or a doctor tha's going to be yanking out my gizzard. I want the best.

But it's just a dream. Ain't going to happen.

 

[PA Bill]

Sorry, but that is completely wrong. Most people can't stomach the stress and uncertainty that comes with commission.

Ramiz is right, many people will gladly accept a salary lower than the commission they could otherwise earn.

I remember my first mentor telling me this. That one of the hardest aspects of this is that you can bust your rear end all week door knocking and there is no guarantee you will have anything to show for it. He said that's tough and he's right, it is. A famous man once said that work without reward destroys ambition. He was right, too.

 

[jdeasy]

I remember my first mentor telling me this. That one of the hardest aspects of this is that you can bust your rear end all week door knocking and there is no guarantee you will have anything to show for it. He said that's tough and he's right, it is. A famous man once said that work without reward destroys ambition. He was right, too.

Exactly right. That is the point Newby is missing.

 

[VolAgent]

Exactly right. That is the point Newby is missing.

Its only made worse if there is some one at home telling them what a mistake they made after that bad week.