Is FE a Good Option?

[HoosierLife]

Even if you dedicate 3 days in the field, you need the other days to do follow up calls on applications to all the insurance companies, setting apts and being on the phone, getting calls from clients that you need to take care of. If your in class and your phone rings or you don't have access to there file, how is that going to work from a client prospective?

I am sorry, but a professional insurance agent needs to be full time in my book.

All imho of course

Well I have access to my home computer from my phone and ipad. I saved everything between dropbox and sugarsynch so that I am connected with all my devices wherever Im at. Being in class would be no different than you being at another appointment. Your not going to stop in the middle of an hour long appointment to return a phone call.

So I think it still looks possible to buy 15-20 leads per week, work 9-9 in the field 2 days a week and set appts and run other admin stuff the other 4 days a week. And still give me time to work around the few classes I will have come this time next year.

Personally, it seems like every sales job I've had has given me the experience I need to succeed at selling FE. Im good on the phone, Im a good door knocker (if necessary), Im a good closer at the kitchen table, I work hard, and a majority of the people I run into can sense that I am trustworthy. I have been sucessful at whatever I have applied myself at, and I can see no reason that would be any different with selling FE.

I appreciate all the comments guys. Now, what should I do to get prepared for starting to sell this come next June? I think I will go with EFES, but that's not set in stone yet. I would like to find a local guy that can train me come spring time.

 

[gordon112]

Well I have access to my home computer from my phone and ipad. I saved everything between dropbox and sugarsynch so that I am connected with all my devices wherever Im at. Being in class would be no different than you being at another appointment. Your not going to stop in the middle of an hour long appointment to return a phone call.

So I think it still looks possible to buy 15-20 leads per week, work 9-9 in the field 2 days a week and set appts and run other admin stuff the other 4 days a week. And still give me time to work around the few classes I will have come this time next year.

Personally, it seems like every sales job I've had has given me the experience I need to succeed at selling FE. Im good on the phone, Im a good door knocker (if necessary), Im a good closer at the kitchen table, I work hard, and a majority of the people I run into can sense that I am trustworthy. I have been sucessful at whatever I have applied myself at, and I can see no reason that would be any different with selling FE.

I appreciate all the comments guys. Now, what should I do to get prepared for starting to sell this come next June? I think I will go with EFES, but that's not set in stone yet. I would like to find a local guy that can train me come spring time.

That's a big difference if you only have a couple classes to fit in studying and class time. It can be done, might be tiresome and stressful, or not depending. I say go for it....EFES is a well known IMO that supplies agents with the right tools along with a manager that can train you if needed. You can talk to Jdeasy on here he is a regular producer for them.

 

[rousemark]

Even if you dedicate 3 days in the field, you need the other days to do follow up calls on applications to all the insurance companies, setting apts and being on the phone, getting calls from clients that you need to take care of. If your in class and your phone rings or you don't have access to there file, how is that going to work from a client prospective?

I am sorry, but a professional insurance agent needs to be full time in my book.

All imho of course

. I disagree. We are too caught up in instant communications. There is nothing wrong with letting your client leave a message and then the agent calling back in the next day or so when they have access to the info. Plus in the FE arena, you should not have to be spending all that mush time dealing with the HO

 

[gordon112]

. I disagree. We are too caught up in instant communications. There is nothing wrong with letting your client leave a message and then the agent calling back in the next day or so when they have access to the info. Plus in the FE arena, you should not have to be spending all that mush time dealing with the HO

I never let a client wait a whole day unless its an issue where I need a lot more information from the carrier. I have worked my business they way my clients expect for over 15 years. If it needs to take more then a day, I let them know going forward. I call several carriers doing bigger term cases back and fourth,(usually through email now) with decisions on table ratings and other info between 10+ carriers. FE is a bit easier, I would agree.

 

[PaperHanger]

Well I have access to my home computer from my phone and ipad. I saved everything between dropbox and sugarsynch so that I am connected with all my devices wherever Im at. Being in class would be no different than you being at another appointment. Your not going to stop in the middle of an hour long appointment to return a phone call.

So I think it still looks possible to buy 15-20 leads per week, work 9-9 in the field 2 days a week and set appts and run other admin stuff the other 4 days a week. And still give me time to work around the few classes I will have come this time next year.

Personally, it seems like every sales job I've had has given me the experience I need to succeed at selling FE. Im good on the phone, Im a good door knocker (if necessary), Im a good closer at the kitchen table, I work hard, and a majority of the people I run into can sense that I am trustworthy. I have been sucessful at whatever I have applied myself at, and I can see no reason that would be any different with selling FE.

I appreciate all the comments guys. Now, what should I do to get prepared for starting to sell this come next June? I think I will go with EFES, but that's not set in stone yet. I would like to find a local guy that can train me come spring time.

That sounds like a good plan to me. If you go 12 hours 2 days a week and do nothing but go to appointments and stop at the other ones in between, you can do well. The same hours over 4 days would *not* be as good.

If you go EFES, they "require 15 leads per week" to be on the discounted leads program. But in reality they want 80 leads per rolling 90 days. So that's in the 12.5 per week range.

And as to the math earlier: 50 leads should get you $9,000 in sales.
50 leads should close you 15 apps at average 600ALP per month.
9000x.90(commish) x .75 (retained) x .75 (advance) = $4556 income - (50x25=1250)leads = 3306 per month. If all are Immed Coverage
About 80% of my apps are for immediate coverage. The rest are some sort of reduced commish.

But on the EFES leads program, you can reduce your lead cost via production, down to $11. I think the ave lead cost overall there is about $19 each.

You'll be there for 5+ years. You've been in sales. I say go for it. At the end of 5 years you should have a nice book of business...whenever you happen to be back n town, you can mine your book and pay for the trip.
And the experience will help your rappor with elderly folks, a task often expected of a pastor.

Good Luck!! Alot of the folks saying don't do it part-time are managers. I'm a FE part-timer currently. After you get a few years of book built up, you could probably get $30k yr mining your book, w/o buing leads.
It all boils down to what you do with those 24hrs over those 2 days.
IF an appointment stands you up, or you have a gap of time between appts, you take a nap in a park or go watch a movie...then no way in H E double hocky sticks.

 

[HoosierLife]

Yeah how does the residuals work for FE if I went with EFES?

 

[jdeasy]

Yeah how does the residuals work for FE if I went with EFES?

No such thing as residuals for FE but renewals are paid as your contract specifies. Gonna be in the 4 to 10% range.

 

[senior-advisor-indiana]

No such thing as residuals for FE but renewals are paid as your contract specifies. Gonna be in the 4 to 10% range.

What about royalties?

 

[HoosierLife]

That's a big spread. Is that something that is negotiated or based off production? If production, what numbers do I have to be at to get me to what percentage?

And does it pay monthly on month 13 or how would that work?

And for example if I had 10k in AP renewal on month 13 and I was at 5%, I would get $500 that month? Or I guess that $500 would be divided by 12. So $42/mo give or take. But then month 14 I would get $84?

 

[jdeasy]

That's a big spread. Is that something that is negotiated or based off production? If production, what numbers do I have to be at to get me to what percentage?

And does it pay monthly on month 13 or how would that work?

And for example if I had 10k in AP renewal on month 13 and I was at 5%, I would get $500 that month? Or I guess that $500 would be divided by 12. So $42/mo give or take. But then month 14 I would get $84?

It's negotiated and it's based on production and it's different for each company. There are no renewals with Americo. They traded them for a 10% bump in year one. Stupid thing to do in my opinion.

I don't follow your math on how you get paid renewals so I can't help you there. If I have 5% renewal then on a $50/mo policy I get $2.50 everytime they renew after year one for however many years it specifies in my contract, usually 6 to 10 years. I don't get $2.50 one month and $5 the next.