Pilot Program: Final Expense Live Inbound Calls from TV

[theinsuranceman]

I'm not so sure $150 is good either. New agents at SL receive 90% and advanced 60%. On a sale for $600/yr premium, that agent deposits only $174 after accounting for acquisition costs, if my math is correct. Did I miscalculate?

Your math is correct for the $150 per sale acquisition cost. $174 profit/sale x 5 sales (very doable) = $870 profit for the week. The other 40% starts paying out months 8-12 (after deducting for charge backs).

An agent can also be on a 75% advance if they want. If this is the case then the agent deposits $255 per sale. $255 x 5 sales = $1275 profit for the week. The other 25% starts paying out months 9-12.

The advantage of the 60% advance is charge backs are deducted from the back end rather than from advances. Helps an agent keeps their cash flow more level.

If an agent starts at the beginning 90%, then once they issue $5k (takes 2 weeks or less) they promote them self to 95%. Once they issue $10k they promote them self to 100%. They can promote them self all the way to 150%. Each step of the ladder is more challenging. At least this way an upline can not hold anyone back, and new agents start at 90% (rather than getting abused with 60%, etc.).

 

[titeye]

Your math is correct for the $150 per sale acquisition cost. $174 profit/sale x 5 sales (very doable) = $870 profit for the week. The other 40% starts paying out months 8-12 (after deducting for charge backs).

An agent can also be on a 75% advance if they want. If this is the case then the agent deposits $255 per sale. $255 x 5 sales = $1275 profit for the week. The other 25% starts paying out months 9-12.

The advantage of the 60% advance is charge backs are deducted from the back end rather than from advances. Helps an agent keeps their cash flow more level.

If an agent starts at the beginning 90%, then once they issue $5k (takes 2 weeks or less) they promote them self to 95%. Once they issue $10k they promote them self to 100%. They can promote them self all the way to 150%. Each step of the ladder is more challenging. At least this way an upline can not hold anyone back, and new agents start at 90% (rather than getting abused with 60%, etc.).

You may not want to be so critical of the OP's results. Speaking of abuse, SL has allowed it to continue far too long. The 90% starting commission level was only instituted as recently as 2-months ago, effective Jan. 2021. In the 20+ years of its existence, SL has not only allowed, but condoned, and/or supported the practice of abusing new agents coming into the business. When you do the math at a 75% (or less) commission level, which was the norm for most agents coming aboard, you would have to agree that a maximum $600 profit-margin on 5 sales/week is quite abusive. The profit-margin even worsened for the agent, because many seniors do not qualify for super-preferred or preferred status.
Once the agent(s) figured out they were being bamboozled, they fired both, SL and their uplines, and sought to hire the competition. Not unlike clients who fire their insurance agent for one more trustworthy or simply a better product.
I don't know the exact circumstances, but one has to also wonder why one of SL's Top Producing Managing agents would jump ship for Family First Life. Topic for another thread.
Just my observation(s) along this journey.

 

[theinsuranceman]

You may not want to be so critical of the OP's results. Speaking of abuse, SL has allowed it to continue far too long. The 90% starting commission level was only instituted as recently as 2-months ago, effective Jan. 2021. In the 20+ years of its existence, SL has not only allowed, but condoned, and/or supported the practice of abusing new agents coming into the business. When you do the math at a 75% (or less) commission level, which was the norm for most agents coming aboard, you would have to agree that a maximum $600 profit-margin on 5 sales/week is quite abusive. The profit-margin even worsened for the agent, because many seniors do not qualify for super-preferred or preferred status.
Once the agent(s) figured out they were being bamboozled, they fired both, SL and their uplines, and sought to hire the competition. Not unlike clients who fire their insurance agent for one more trustworthy or simply a better product.
I don't know the exact circumstances, but one has to also wonder why one of SL's Top Producing Managing agents would jump ship for Family First Life. Topic for another thread.
Just my observation(s) along this journey.

From what I've heard, after he found about the bait and switch from FFL, and leads being shared rather than being exclusive, and no lead financing for his agents, he wanted to come back to SL. His upline said "no.

There are agents that join FFL from other carriers too. Just like there have been groups producing over $150,000 monthly to join Sr Life....from places like Lincoln Heritage as well as brokers and their agencies.

A lot of agents think the grass is greener on the other side of the fence, but if they would just water and fertilize the grass on their side of the fence they'd be fine.

 

[titeye]

From what I've heard, after he found about the bait and switch from FFL, and leads being shared rather than being exclusive, and no lead financing for his agents, he wanted to come back to SL. His upline said "no.

There are agents that join FFL from other carriers too. Just like there have been groups producing over $150,000 monthly to join Sr Life....from places like Lincoln Heritage as well as brokers and their agencies.

That's interesting, Greg. Wouldn't you think he would be intelligent enough to research those things and anything else that had potential of being a deal-killer, prior to joining them? This suggests to me that something occurred that made him react irrationally. Without knowing the facts or circumstances, I guess we are both speculating.
However, I did hear that he was doing quite well over there. Whether that's true or not, I couldn't say.

 

[vic120]

did anyone ever order any of these leads?

Especially for medicare, I am interested

 

[theinsuranceman]

That's interesting, Greg. Wouldn't you think he would be intelligent enough to research those things and anything else that had potential of being a deal-killer, prior to joining them? This suggests to me that something occurred that made him react irrationally. Without knowing the facts or circumstances, I guess we are both speculating.
However, I did hear that he was doing quite well over there. Whether that's true or not, I couldn't say.

He's going to do well with pretty much any FE opportunity. He's still inexperienced in the FE arena in my opinion. He probably didn't know what to ask, assumed everyone else was doing all the things Sr Life was doing for agents, or was maybe lied to....who knows? I've heard there's a lot of smoke and mirrors with FFL. Goes to show us that it's the agent, not the system, that has the biggest influence on success.

 

[Allen Trent]

grass is greener on the other side of the fence, but if they would just water and fertilize the grass on their side of the fence they'd be fine.

see, this is where I get confused. Manure is known to be a great fertilizer, so some of them likely think the more they keep taking a dump on their side of the fence the greener the grass will get............................but that must only work in gardens & on crops, because constantly taking a dump on your own side of the fence all the time will definitely make you think the grass is greener & smells better on the other side.

 

[rousemark]

see, this is where I get confused. Manure is known to be a great fertilizer, so some of them likely think the more they keep taking a dump on their side of the fence the greener the grass will get............................but that must only work in gardens & on crops, because constantly taking a dump on your own side of the fence all the time will definitely make you think the grass is greener & smells better on the other side.

If the manure pile is deep enough, it will kill the grass.

 

[theinsuranceman]

see, this is where I get confused. Manure is known to be a great fertilizer, so some of them likely think the more they keep taking a dump on their side of the fence the greener the grass will get............................but that must only work in gardens & on crops, because constantly taking a dump on your own side of the fence all the time will definitely make you think the grass is greener & smells better on the other side.

LOL. Remember, you can over fertilize grass.

 

[FEX Agent]

did anyone ever order any of these leads?

Especially for medicare, I am interested

Yes, I did for FE. They were good, but they were overflow to the independent agent that call centers could not handle. Supply dried up around AEP and the election and never came back. The call centers are buying all they can get their hands on.