New Agent. Question on Contract

[lelandfallon]

It is a good idea to first focus on one market. I agree with Steve, I think you're focusing on the wrong market...last I heard the Real Estate market was down...limited prospects. Everybody's a prospect with Final Expense.[/quote]

Thank You. I went ahead and sent "The Skipper" a PM like you suggested.
I very well could be focusing on the wrong market.. I honestly would not know.
The company who I am about to sign up with is the one who was recruiting for the Mortgage Protection side of term insurance.

 

[TwiLight]

Thank You. I went ahead and sent "The Skipper" a PM like you suggested.
I very well could be focusing on the wrong market.. I honestly would not know.
The company who I am about to sign up with is the one who was recruiting for the Mortgage Protection side of term insurance.

Got your PM and replied to you.... Look forward to Helping and give you some insights with Mortgage Protection....

 

[UW Guy]

As a fellow Wisconsinite, watch out doing MP. You're in NML, Thrivent, and AmFam's backyard. Unless you're with one of them or someone else with a strong in state presence (i.e. West Bend Mutual, Acuity, etc.) you're probably talking to someone who's already been talked by one of these guys or their existing P&C guy.

We're an all around weird state to do business in P&C and life.

 

[me112233]

"Mortgage protection" market it tough. The people you are selling to are often new homeowners, and really don't have much spare cash. Also, term life is term life. If they are shopping around at all, they will discover a 20- or 30-year level term from one of the big boys of term (Banner, American General, etc.) will provide more insurance for less premium than whatever you are selling, and their policies don't go down as the mortgage is slowly paid off. You probably will sell some policies, but I'm thinking the persistency won't be all that good; and if you are selling $100 a month policies, you will see a lot of lapses in the first 12 months (business that stays, pays; business that lapses, doesn't pay). If you can handle it financially in the early days, go "as earned" rather than advanced.

Others have suggested that you investigate other markets; you ultimately have to find a market that YOU like working in. You also say you are new to the sales part of the business. I started with a debit account for Commonwealth Life (now part of Monumental); that was a horrible job, but in the six months I was there, I learned a lot, and got a steady pay check and basic health benefits (I was an employee of the company, not a 1099-independent contractor). You might look into an employment-type arrangement to get started; they take half or more of your commission, but in exchange, you get a steady paycheck from the very first week and real help in learning the business.

 

[fixitagaintony]

I was also looking at SFG. Their contracts seem a bit low. Just my 2 cents.

 

[moonlightandmargaritas]

I would appreciate any advise in this.

Welcome Leland! Any kin to Jimmy? Actually what you are looking for is advice.

 

[peteybear]

I think you'll be very disappointed in symmetry.The commissions are atrocious and leads overpriced and then throw in an avg of 6-8 weeks to get a policy issued and you're staring at a very short career.

 

[mcleanbr]

Working with SFG is doing more final expense than Mort. protection. I work Mort. protection on and off depending on my sales funnel and my time availability. Mort. protection is very time consuming and is best used to build other business that low cost term insurance. Final Expense is the place to start. You should focus your time on this and find the best place to start. SFG managers want you to work Mort. Prot. because the leads are less desirable. There are resources on this forum to get you started in Final Expense at the proper rate with the right lead process.