Final Expense or Mortage Protection?

There seems to be some advantages to MP:

- Higher premium average, almost 2x as much with about the same conversion
rate (25%) as FE leads.
- No door-knocking required, able to secure appointment on calls.
- Everyone has checking accounts.
- Higher retention rate.

The challenge is getting 20 MP "A-leads" a week, it seems some IMO do not have "A-leads" available in some ares. I've been getting 30 FE leads a week and I'm going to start getting MP leads this week.

I'll post after about my MP experience in a couple of months.
I would respectfully disagree.
-MP premiums are not 2x more than FE. Industry average with MP is $80/month & with FE is $60/month.
-I rarely door knock with FE. I set my appts over the phone. More seniors answer the phone than MP clients.
-Everyone has checking accounts in FE if you utilize the correct income filters. The first direct express I wrote was 9 months into being in FE.
-My retention rate with MP was 74%. With FE it's around 90%. (Can provide proof upon request)
 
Last edited:
I would respectfully disagree.
-MP premiums are not 2x more than FE. Industry average with MP is $80/month & with FE is $60/month.
-Everyone has checking accounts in FE if you utilize the correct income filters. The first direct express I wrote was 9 months into being in FE.
-My retention rate with MP was 74%. With FE it's around 90%. (Can provide proof upon request)

Hey Homer, it's time to try your marketing strategies somewhere else!

My average monthly premium for MP was a little over $100

My persistency and placement with MP was in the high 90's

By filtering out direct express prospects, you are also filtering out a butt load of great prospects.

Dude, stop posting your nonsense. People actually come on here for help and might mistakenly take your bad advice. They don't realize that you have only been licensed for a year and a half.

giphy.gif
 
Hey Homer, it's time to try your marketing strategies somewhere else!

My average monthly premium for MP was a little over $100

My persistency and placement with MP was in the high 90's

By filtering out direct express prospects, you are also filtering out a butt load of great prospects.

Dude, stop posting your nonsense. People actually come on here for help and might mistakenly take your bad advice. They don't realize that you have only been licensed for a year and a half.

giphy.gif
Hey Doug, it's sad you're so worried about a guy that's been licensed for a year in a half. Shows how scared you are. Even more sad you gotta make up numbers to try to make me look bad. :no:

Here's a screen shot of my Americo production from my MP writing number from back in the day. As you can see... FAR from 90% persistency.

If you take out the Final Expense apps on there my average AP was $874.19 which is $72.84 average monthly premium.

Sorry, Doug. Please try harder next time you try to make me look bad.

XbGg1uI.png


Why don't you post a screen shot of your pie in the sky numbers? I'm calling your bluff. I bet you'll ignore this or even make up some excuse as to why you cant. Oh well... :no:

Here's my 90% persistency with FE with 40k production....
B3zCt11.png
 
Last edited:
Which is more profitable?

I started my career selling Mortgage Protection, inevitably moved to selling Final Expense like many of the agents here.

Mortgage Protection is typically more Nights/Weekends, These people are typically still working so you have to be flexible and meet with them when they are available.

Final Expense can usually be done during the daytime hours - these folks are usually retired or disabled.

If you are an independent agent, marketing is much easier for Final Expense. More people to market to, leads cost less. If you couple that with high contracts, you usually make more money than if you took a 'commission pay cut' at a Mortgage Protection IMO.
 
Hey Doug, it's sad you're so worried about a guy that's been licensed for a year in a half. As you can see...

Nobody's trying to make you look bad, just pointing out that you are not someone to listen too. Wouldn't want a newby to take your bad advice or believe your nonsense!

I respect that you admit how incapable you are at both, selling mortgage protection, and for qualifying for the SNL convention though.

Congratulations on writing $39k with SNL over an 18 month period.:yes:
 
I knew you wouldn't post proof of those pie in the sky numbers. Hilarious, I posted proof you are a liar & you come back with no proof & more accusations.

Typical FOS marketer.

Like SNL is the only company I write. Sorry I'm not like you & try to sell everyone one product just to get a trophy. By the way, nice 82% persistency.
 
I knew you wouldn't post proof of those pie in the sky numbers. Hilarious, I posted proof you are a liar & you come back with no proof & more accusations.

Typical FOS marketer.

Like SNL is the only company I write. Sorry I'm not like you & try to sell everyone one product just to get a trophy. By the way, nice 82% persistency.

I haven't sold MP for around 5 years so no, I can't prove my numbers, but they are common sense for anyone that sells MP.

And now you're back to the name calling!

Are you still offering that 140% commission level? How's the bait and switch marketing method working out for your agency?
 
Well, after 10 days in the field with MP, so far...it's freaking awesome, compared to FE. Clean homes, checking accounts, higher premiums and they actually know it's Life Insurance. I'll never sell FE again...it's was like being in HELL.

I'll give everyone a complete comparison in about a month.
 
Jaymon what carriers are you using? What's your avg lead cost? How many apt's can you get in during a week day?
 
Well, after 10 days in the field with MP, so far...it's freaking awesome, compared to FE. Clean homes, checking accounts, higher premiums and they actually know it's Life Insurance. I'll never sell FE again...it's was like being in HELL.

I'll give everyone a complete comparison in about a month.

I've sold both. You write a few good MP lay down policies and you think it's the best thing since sliced bread, then the objections and fully underwritten obstacles come into play for cheaper policies. Yes, you'll have chargebacks too, and no show appointments, and reschedules, and the list goes on. Eventually you'll get sick of waiting all day to work then several no shows, or they won't answer the door, who knows what could happen.

With FE you control your schedule on the pure fact that the majority of your clients are home in the day and you choose when you want to work, not like MP when Joe and Susie are both home from work without having something to do with the kids, and I could go on and on for MP.

TO EACH THEIR OWN.... but I have a lot more freedom with my life and write a ton more business than I did with MP, my commission is a lot higher, and if you prequalify your clients and build value in what you do you will have high persistencey in FE also.

Just my opinion, I wish you success either way!

----------

I knew you wouldn't post proof of those pie in the sky numbers. Hilarious, I posted proof you are a liar & you come back with no proof & more accusations.

Typical FOS marketer.

Like SNL is the only company I write. Sorry I'm not like you & try to sell everyone one product just to get a trophy. By the way, nice 82% persistency.

Your really showing how new you are to the industry and extremely unprofessional. I've seen you post on here and on Linkedin.

Your a baby in the business and your claiming to offer 140% contracts and all the hype that goes along with how you unprofessionally carry yourself. You really need to step back and have a new approach for recruiting.
 
Back
Top