Is There a Future in Final Expense?

[kwamster]

I was wondering about the future of final expense as a career,
I have been in the car business most all of my life except in 2006 I sold for humana in the beginning of MAPD and D plans. About a year ago I hooked up with EFFES bought their start up package of leads and sold nothing.

About a month ago I started with an agency that provides pre set appointments. My first 2 weeks were about $2500 in AP. My next 2 weeks have been over $8K the pay rate is 60% but I do get 25 appointments a week.

Now I have been offered an opportunity back in the car business with all the benefits and will make 70K guaranteed. Did I just get lucky these last 2 weeks or am I on my way to a new great future?
I do really enjoy this business and I seem to have a nack for it and really would like to stay in it.

I know its all up to my I'm just looking for opinions about longevity in this business as I need 10 more good earning years.

Why not do both, at least until you start receiving consistent and positive results from selling final expense insurance part-time(evenings and on your days off)?

You could use the money from your full-time gig to help pay for mailers and other more expensive forms of advertising (cable TV ads, Radio Ads etc.) and once you are consistently writing 6 or more apps. per week you would then be able to make a more informed decision?

 

[gordon112]

Why not do both, at least until you start receiving consistent and positive results from selling final expense insurance part-time(evenings and on your days off)?


One thing that was not mentioned is the fact of fulfillment and enjoyment. If your just going after the paycheck it could be a recipe for failure in other areas of your life..(stress, mood swings, no time off, etc)

 

[Guest]

Doing both is not an option as I have too many responsibilities in other areas of my life.

Also as far as enjoyment in liking what I'm doing actually I enjoy doing both, thats part of what makes the decision so hard.

 

[xrac]

You are in a very good position since you have two opportunities that you probably would succeed at. The FE hours once you master the business would probably be a little less demanding then the service writing hours but you may have to work longer hours at the start.

 

[gordon112]

Doing both is not an option as I have too many responsibilities in other areas of my life.

Also as far as enjoyment in liking what I'm doing actually I enjoy doing both, thats part of what makes the decision so hard.

You may want to write down a list of good points, vs bad points on each job and see which one comes out better.

I can tell you that FE is going to have some rough patches, IE bad leads one week or some nontaken or cancellations, chargebacks, etc. Those are some of the negatives on the insurance side.

 

[nfl72]

most service managers I know in the car business get there at 7 am and work until 6pm every day and until 8 two nights a week. They also have to turn certain numbers, ie selling tune ups, tires, FEA's etc. If you making 70 doing that your busting your tail. If your good at that you should do just fine in the FE business and have lots more freedom.

It is nice to have options.

 

[CALTCAgent]

I was wondering about the future of final expense as a career,

About a month ago I started with an agency that provides pre set appointments. My first 2 weeks were about $2500 in AP. My next 2 weeks have been over $8K the pay rate is 60% but I do get 25 appointments a week.

Not a final expense guy, but pre set appointments are unique and/or not that common that I hear about them working for long periods of time, IMO. I would wonder how long this will continue.

Now I have been offered an opportunity back in the car business with all the benefits and will make 70K guaranteed.

What are the "benefits" you get in the car business?

Group health, 401K?

Will you always have the long hours over the next 10 years, or will the position possibly change?

 

[VaDwayne]

Amen!!

I was in the car business for 21 years and that was 15 years too many. Life is too shot Saturdays are ment to be laying arund the pool with family and friends not pounding the pavement looking for keys.[/QUOTE]

 

[nfl72]

the only thing i miss about the car business is brooming off cars in the winter and climing into the back of a 2 door Tercel with no air in the summer.

Just kidding. There is nothing I miss about the car business. In fact when I walk into a dealership today it is really easy to see the salesmen who are the whiping boys for management. You look into their eyes and they look like whipped puppies. Big sad eyes with dark circles.

If you can make decent money in the car business, you need to get out, while the gettings good. If you can't make money in the car business you got no place else to go.

 

[Cory]

If you have that offer... I'd take it. You obviously have a solid resume to receive such an offer, but in regards to FE longevity. Unlike other products, FE will always be a strong market. That market is a more mature demographic and understand the important of it and are willing to carve out money to pay for it as they have (unfortunately) more than likely had to bury someone.

I know people that have literally had to beg for money from friends, family and the church for FE. I just got a call from a client last week whose sister was diagnosed with terminal cancer and he wanted a police because she has nothing... puts things in perspective if you think you're having a bad day. Good luck in whichever venture you choose.