First 3 Months in FE

[InsKid]

This is my first 3 FE months, May 22 to August 22. I originally thought I should do medicare supplements but changed quickly to FE. I did sell two F plans in May.

FE Marketing costs ($840)
$440 for 2,000 DM leads
$350 for 10 TM leads
$50 for 500 door hangers

25 policies sold (12,964 AP)
Avg. age: 60.1
Avg. face amount: $8,588
Avg. monthly payment $42.31

3 White clients (2 female)
1 Hispanic client (female)
21 black clients (13 females)

21 are paying EFT, 2 on their DE card and 2 by direct bill.
All sales were within 15 miles of my home.

Any comments or suggestions?

I feel I owe a great amount to almost daily reading of this forum and the many hours of reading here before I took the plunge. It's been both harder than I thought but also easier is many ways too. I've gone through slumps with 6 or 7 days without a sale (got a little worried) and then had streaks with 4 or 5 sales in a 3 or 4 day period.

Several posters here helped a lot by taking my calls, explaining the basics and filling in my many gaps of knowledge. Many thanks to: bboman23, onefastpony and Gooner.

I have only had one charge back, ironically the only Caucasian male I sold. Without even contacting me, he exercised the 20 day free look period which I have never mentioned to a single client. I called him when the carrier sent me a letter and he apologized but basically had no good reason. I confirmed that the policy was everything I promised and everything he expected it to be. He assured me that I had done nothing wrong but he just couldn't do it. Just a flake. Had one more guy whose EFT was NSF twice so his policy never even started.

Any recommendations or advise for this newby?

 

[Newby]

You are off to a great start. Look at that return on investment!

Your direct mail lead cost looks to very low ($220 per 1,000) and your telemarketed leads a little high ($35 each). Did more sales come from one lead source over the other?

Average age looks very low. Not a problem if they stick well.

With that cash flow starting, get on a weekly lead order and you will be a monster at this.

 

[Rearden]

Where did your sales originate from? DM, TM, or door hangers?

Point is you should preferentially increase your volume and activity in the campaigns that outperform the lower ROI campaigns.

What city and state are you working in?

This is my first 3 FE months, May 22 to August 22. I originally thought I should do medicare supplements but changed quickly to FE. I did sell two F plans in May.

FE Marketing costs ($840)
$440 for 2,000 DM leads
$350 for 10 TM leads
$50 for 500 door hangers

25 policies sold (12,964 AP)
Avg. age: 60.1
Avg. face amount: $8,588
Avg. monthly payment $42.31

3 White clients (2 female)
1 Hispanic client (female)
21 black clients (13 females)

21 are paying EFT, 2 on their DE card and 2 by direct bill.
All sales were within 15 miles of my home.

Any comments or suggestions?

I feel I owe a great amount to almost daily reading of this forum and the many hours of reading here before I took the plunge. It's been both harder than I thought but also easier is many ways too. I've gone through slumps with 6 or 7 days without a sale (got a little worried) and then had streaks with 4 or 5 sales in a 3 or 4 day period.

Several posters here helped a lot by taking my calls, explaining the basics and filling in my many gaps of knowledge. Many thanks to: bboman23, onefastpony and Gooner.

I have only had one charge back, ironically the only Caucasian male I sold. Without even contacting me, he exercised the 20 day free look period which I have never mentioned to a single client. I called him when the carrier sent me a letter and he apologized but basically had no good reason. I confirmed that the policy was everything I promised and everything he expected it to be. He assured me that I had done nothing wrong but he just couldn't do it. Just a flake. Had one more guy whose EFT was NSF twice so his policy never even started.

Any recommendations or advise for this newby?

 

[InsKid]

You are off to a great start. Look at that return on investment! Your direct mail lead cost looks to very low ($220 per 1,000) and your telemarketed leads a little high ($35 each). Did more sales come from one lead source over the other?

Yes, I'm satisfied with the ROI. The DM cost was lower due to credits from SNL who paid 50% of the cost. The TM were 10 for $35 which is LeadHubz price for Cali.

3 sales from TM
7 sales from DM
2 sales from Door Hangers
2 sales from Church friends
11 sales were from my wife's telemarketing and my long days of door knocking.

One day I saw an grey haired gentleman washing his car. I was door knocking his grouchy neighbor who told me to get lost, the car washer made an appointment and he bought 4 policies, himself, mother, both younger brothers. He is in management for State of Cal and is about to retire at age 60, mom is 81. Had a younger brother get killed a few years ago without life insurance and eventually decided never to be in that situation again.

I used the door hangers like flyers to introduce myself when door knocking but left it if no one answered. 2 of the door hangers were sent in to SNL which notified me and both were sales but Monumental got one of them due to his health situation.

Two clients were very young (22 and 25) another was 47 which affected the averages. But then one lady was 89. I have done well with ages 60-65 which seem to get decent pricing and their health is still good enough.

I've seen a few in their 80's who just wasted my time, they don't handle their own money anymore and can't buy anything without their children which is understandable. Would have been nice to know that when I made the appointment, hopefully I'm getting smarter.

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[JimmyUt]

Yes, I'm satisfied with the ROI. The DM cost was lower due to credits from SNL who paid 50% of the cost. The TM were 10 for $35 which is LeadHubz price for Cali.

3 sales from TM
7 sales from DM
2 sales from Door Hangers
2 sales from Church friends
11 sales were from my wife's telemarketing and my long days of door knocking.

One day I saw an grey haired gentleman washing his car. I was door knocking his grouchy neighbor who told me to get lost, the car washer made an appointment and he bought 4 policies, himself, mother, both younger brothers. He is in management for State of Cal and is about to retire at age 60, mom is 81. Had a younger brother get killed a few years ago without life insurance and eventually decided never to be in that situation again.

I used the door hangers like flyers to introduce myself when door knocking but left it if no one answered. 2 of the door hangers were sent in to SNL which notified me and both were sales but Monumental got one of them due to his health situation.

Two clients were very young (22 and 25) another was 47 which affected the averages. But then one lady was 89. I have done well with ages 60-65 which seem to get decent pricing and their health is still good enough.

I've seen a few in their 80's who just wasted my time, they don't handle their own money anymore and can't buy anything without their children which is understandable. Would have been nice to know that when I made the appointment, hopefully I'm getting smarter.

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Sounds like you are doing great so far. Like others have said, focus on what is working and what isn't and move forward with that. Sounds like door knocking and your own telemarketing efforts are working out best.

 

[InsKid]

With that cash flow starting, get on a weekly lead order and you will be a monster at this.

Cash flow has not been the greatest since over half the sales are paid "as earned" which helps me sleep at night.

But I agree about the importance of a weekly lead order. I'm about to send out another 1,000 of the E-179 card and see what happens. I'm a little worried that seniors might be getting bombarded with mail due to Medicare AEP right around the corner. Any thoughts on that?

Your website was very educational for me too!

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What city and state are you working in?

All in Sacramento, California except one in West Sacramento.

Too many languages beyond English and Spanish are spoken here for some reason. Had 3 cards come back from folks who have zero English comprehension and just filled it out and mailed it without knowing what it was (Japanese, Russian, Vietnamese).

My wife hates telemarketing the non-English speakers due to the frustrating attempt at conversation which pursues. So now I made a list of President's names and said stick to them; Jefferson, Jackson, Washington, Wilson, Johnson, Adams, Harrison, Buchanan, Ford, Hayes, Grant, Taylor, Lincoln and Taylor. For some reason these are the buyers.

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[scott9178]

Who is SNL company? Good start as well

 

[InsKid]

Who is SNL company? Good start as well

Security National Life, their Final Expense National Director, Tommy Overton is here in the forums occasionally. They are in 33 states as far as I know.

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[scott9178]

Cool thx man hhhhhhg

 

[WinoBlues]

Security National Life, their Final Expense National Director, Tommy Overton is here in the forums occasionally. They are in 33 states as far as I know.

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Solid job. Sounds like you have a great partner also.

Sacramento. Is that Jess Cabillo's area? Are you going to Madera to meet Tommy next week?