Can You Sign Up with A FE Lead Company and Still Sell P & C with Other Companies?

[asummer74]

Hi everyone!

I am looking into signing on with a FE lead company, (Securus or EFES, etc.) I am in the gathering information stage to decide what company to go with to get leads as I am a newbie to life insurance. ( I am currently in life licensing class). My question is, I have recently obtained my P &C license, but I have always been interested in Final Expense sales. Can I in future, sell both P & C and still be with one the above FE companies? Or is that not allowed from the FE companies? I realize its best to maybe master one area of insurance first then move on and add more to your portfolio, I got my P & C license first, and have experience in P & C on the claims end, so I am familiar with it, but think I would do best, and be more profitable initially selling FE, as it takes awhile to build up P & C. Any thoughts or help would be greatly appreciated, or if anyone has any suggestions as to FE companies to go with, I am open to all comments. Thanks in advance!

 

[JimmyUt]

Hi everyone!

I am looking into signing on with a FE lead company, (Securus or EFES, etc.) I am in the gathering information stage to decide what company to go with to get leads as I am a newbie to life insurance. ( I am currently in life licensing class). My question is, I have recently obtained my P &C license, but I have always been interested in Final Expense sales. Can I in future, sell both P & C and still be with one the above FE companies? Or is that not allowed from the FE companies? I realize its best to maybe master one area of insurance first then move on and add more to your portfolio, I got my P & C license first, and have experience in P & C on the claims end, so I am familiar with it, but think I would do best, and be more profitable initially selling FE, as it takes awhile to build up P & C. Any thoughts or help would be greatly appreciated, or if anyone has any suggestions as to FE companies to go with, I am open to all comments. Thanks in advance!

I think you will find that the service work on the P&C side will cause you to lose focus. When you go on a leads program, that needs to be your focus or you may end up spinning your wheels. Part time and leads program, don't go hand in hand. At least IMO. There are some that do it, but not right out of the gate.

 

[Mattschmidt]

Hi everyone!

I am looking into signing on with a FE lead company, (Securus or EFES, etc.) I am in the gathering information stage to decide what company to go with to get leads as I am a newbie to life insurance. ( I am currently in life licensing class). My question is, I have recently obtained my P &C license, but I have always been interested in Final Expense sales. Can I in future, sell both P & C and still be with one the above FE companies? Or is that not allowed from the FE companies? I realize its best to maybe master one area of insurance first then move on and add more to your portfolio, I got my P & C license first, and have experience in P & C on the claims end, so I am familiar with it, but think I would do best, and be more profitable initially selling FE, as it takes awhile to build up P & C. Any thoughts or help would be greatly appreciated, or if anyone has any suggestions as to FE companies to go with, I am open to all comments. Thanks in advance!

Shouldn't be an issue at all...These IMO's generally just look out for you being licensed with FE companies outside of them...They don't like you selling their leads with companies that you are appointed with, outside of their umbrella

 

[Rearden]

Sure you can. But I'd focus on one or the other. Not both, initially.

 

[asummer74]

Thanks for the responses! I am leaning toward FE to focus on, I know there have been numerous threads that focus on various ones. Is it better to sign on with the leads companies? Or better to get appointed with a few companies and generate your own leads. Anyone like any particular company? I seems like all companies will have pros and cons and I am aware of that. I do like the idea of getting leads as I am a newbie.

 

[Rearden]

Tell us about your prospecting and one-call close experience.

 

[asummer74]

Tell us about your prospecting and one-call close experience.

I have worked in sales, non insurance, but have experience in cold calling with the type of sales I previously worked in. I have no problem with cold calling or contacting prospects via phone. I am just debating if it is good idea, if most people contract with a FE leads company, or go independant. I am a hard worker and enjoy sales, have no problem with rejection (for every no there is a yes out there right? lol)

 

[Justin Bilyj]

I actually do both P&C and Health and Life. So if I can't sell, save, or get them more coverage with FE, I will offer to save them on their home/auto/renters. I also offer to do their health or medicare insurance (usually their MA so I set a tenative appointment for October).
I don't do the p&c myself (too much service work), I refer it to my coi for a split, but I know enough to get the quote.
If I end up selling them FE I already have their vitals, just need VIN#'s and current coverage to drum up a quote. While I am there I get pictures of the house with my tablet.
Trying to integrate with a forms app but Android is not forms app friendly at the moment, but I am determined!

 

[SportsNut]

I actually do both P&C and Health and Life. So if I can't sell, save, or get them more coverage with FE, I will offer to save them on their home/auto/renters.

I had an agency after me to offer P&C... it just seems like a lot of leg-work for a little return (initially). Curious how long you've been doing the P&C and how much time it takes to generate the quote, and then present the quote later? Do you present this on another appt, and then assuming you are cheaper then generate the apps at that time? And then you begin the as-earned process of 15% of a $ 500 prem, or in your case 7.5% of the prem. Based on the above assumption (which may not be accurate) wouldn't this figure out to about 3-4 bucks per month?

Straighten me out on how that works... and how well it works? Thanks.

 

[Justin Bilyj]

I have been actually positioning myself with COI's. After having a talk with WinoBlues it cemented my belief in cultivating them.
I have developed a COI with a Final Expense agent (that turned out to be my friend's older brother!) where I take his aged leads (he gets 20-30 a week and only takes low hanging fruit). I also got permission to mine his book for home and auto and medicare at the end of the year.
I also developed another COI for disability and medicare for a NYL agent.
My P&C coi does commercial, home, auto, and renters. I scan documents with a handheld scanner (takes me 2 seconds per page) or borrow them, copy them and mail them back to them. After that I take pics, and ask general questions about claims history that in itself usually tells me all I need to know. I send contact info and plan details to my COI and I get a quote back 1-2 days later depending on how much info I got.
Now onto commissions.....heh heh heh.
Since P&C commissions are 10-13%, I get 50% of the first term advanced. Some insurers are one year terms but usually its 6 months. I get the commissions direct deposited once a month.
I do it more to increase persistency, to get my foot in the door to be able to offer one more thing. EVERYONE is a prospect to me.
My COI handles all service work and will contact to follow up on the nontakers (she just got a lead I sent her one year ago, it was a condo, 3 auto policy).