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Old 09-29-2008, 10:37 PM   #1
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HoosierDaddy on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense The Secret To Making Money in Final Expense
Well, I don't really think it is a secret. Everyones knows, but they don't know how to get there??? But....

The Secret to being successful in final expense… Drum roll… “A constant steady flow of new leads.” That is the biggest hurdle to overcome on the path to making money selling Final Expense. I will stipulate that if you have any ability to sell that helps also, but not as important as a “steady flow of new fresh leads!”

Most agents purchase between 1K - 2,000 direct mailers; wait 3 weeks for them to come back. Work them for another two weeks and then maybe mail some more, hoping to get 3X return on their investment. There is nothing wrong with this, but just imagine if you had 20-25 new fresh leads every week!!! Those are the folks that are writing $150,000 to $300,000 in annual premium a year.

When I speak to agents I ask them “How much do you want to make?” For example if they tell me $3,000 a week. I explain to them that to write $3,000 in AP you need to sell 4-6 policies on the average. The next thing is figure out how many “belly to belly” presentations you need to give, to sell 4-6 policies. I would say 12-15 presentations. The next thing is how many leads do you need to get 12-15 presentations? (Husband & Wife count as 2 presentations) 20-25 lead cards…

Those ratio’s are just guides to help you understand what it takes to get to the amount of money you want to make. Obviously if you have a good presentation and good with people those same numbers could earn you more sales, and $4000 - $6000 a week or more. That was just an example to get your mind thinking in the right direction.

Now here is the dilemma, how do you get 20-25 leads a week? Well you could mail out 2000 lead pieces every week, however by the time you get your 1st card back from you first drop you will be over $2,000 in the hole. Because you would have had to mail week 2, and week 3, to make sure you have a continuous flow of leads. The cards from you first mailing would not be coming in until after week 3. This is the way I do it or should I say used to do it. However it took a while to build myself up to that point. When I first started if someone would have told me to mail 2,000 leads a week every week I would have laughed and found something else to do.

The point of my post is this… Shortly after I began offering Royal Neighbors contracts and agents started contacting me I quickly realized that most of these agents are dying on the vine because they have no “lead system” or any way of seeing enough people to make any real money. You could have the biggest contracts out there, but if you have no leads you will go broke.

After being asked several times I have decided to help Equita in training/support of agents in regards to their final expense products. They offer the lowest price lead with the highest commission % of all other marketers I have found. They provide direct mail leads (that say Final Expense Life Insurance on the card) for $15 and as low as $8. You are still 100% vested even your renewals, you own your business, and commissions are all paid direct to you from the company. You still are Independent.

I would be happy to discuss this program and even debate it with you guys. This is not only for new guys, but also for guys who have been around for a while and want to take it to the next level of income production. If you folks have read my post, and especially the ones I have spoken to on the phone can vouch that I am a straight shooter, and not trying to BS anyone into something I don’t think is a real opportunity. I have written over $25,000 in Annual Premium this month (September) and it is mostly due to having a steady flow of fresh leads. Believe me if I can do it, anybody can do it.

If you guys are interested in getting into a program with training and support by yours truly, and being able to write companies like Royal Neighbors, Shenandoah, American Amicable, Oxford, Americo, ect. And getting 25 new fresh direct mail leads for the cost of a 1,000 mailers (Avg return 1-1.4%) send me an email, or PM.

Thanks, Travis
[email protected]

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Old 09-29-2008, 11:42 PM   #2
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kuhn123 on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making $$$ in Final Expense
You are ohhh so right in the lead department my friend. There is no magic to producing big numbers in FE, just work the system, and commit to a high number of leads to work each week (I work over 40/wk). In my opinion though most folks are better off assuming the full cost of their own leads, rather than accepting a reduced contract for a discount lead.

What new agents fail to realize many times, is that:
1)Not only do they take a reduced first year commission to get that lead, but their renewals are at a reduced rate for life.

2)You are getting a reduced commission on every policy you write, regardless if the sale came from one of their leads or if it was something you killed and dragged home all on your own.

Today's Final Expense Contract levels are too lucrative to take reduced comp for any kind of lead promise. If you can go out in today's FE market, get 115+ on your contract, you will be able to cash flow your own leads without any problems.

I have not dealt with Equita myself, but a few of their guys that have switched over to the IMO that I am with, were NOT impressed with their training program (here's your rate-book, go get em' kid!). From what I gather in your post Travis, it looks like you will be heading up that training program now, so hopefully you can get things turned around. Good Luck!
Matt

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PACESETTER ADVANTAGE FINAL EXPENSE
mattkuhn AT pacesetteradvantage.com
888-511-0559
www.pacesetteradvantage.com
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Old 09-30-2008, 01:49 AM   #3
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HoosierDaddy on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making $$$ in Final Expense HoosierDaddy is the thread starter for: The Secret To Making Money in Final Expense

Matt,
You are one of the guys on here that I would like to talk to but have not yet. From your previous post and talking with other guys on the board I think we do a lot of stuff similar. However, I disagree with the notion that most guys can build themselves up to purchase 25 or more new leads a week.

Everybody knows the formula to make money in FE (Big Contracts X Leads = $$$) but the reality is I know a lot of folks that make big money selling FE; however only handful of those folks pay for their leads. The others are all in some type of marketing group, or company finance situation.

When you buy direct mail that is a high stakes game. It only takes a few small returns to knock you out of the game if you are not well established. I buy mail as cheap or cheaper then anyone on the board. $350/1000 and I mail out 2K-3K a week. 2k lead cards cost me $700 plus tax, and no guarantees that any will come back. You purchase mail not leads with direct mail companies. Returns average between 1-1.5% so I am looking at 20-30 lead cards. With the production that I do I would be paying $4-$8 a lead with Equita... But just for argument sake lets take the $15 dollar lead cost. For $700 I could get a guaranteed 46 Leads... No risk for me... If Equita has to mail 10,000 lead pieces, to get my 46 leads that is not my concern.

For some reason Agent's are so worried about giving up something they don't have... We are talking about production that most would not have had if it were not for the Equita program in the first place. If you have 25 new leads a week and the desire. You should consistently write $4K in AP. Some weeks you may write $10K in AP. If you are not consistently writing $4K in AP and somebody shows you how to do it, and more importantly takes all the risk providing you an opportunity to do it, and in return you take a 5-10 point reduction in commission is that really a bad deal? Maybe for a handful of agents... But for the other 99% that want to make 4-6 grand a week, working 2-3 days a week it has one hell of an upside...

Equita has done a good job coming up with marketing, however they will acknowledge that in the past their training department has been an area for attention. Hopefully that is improving…

Travis

P.S. Matt, They also offer dialer leads??? I think I heard that is what you use?

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Old 09-30-2008, 02:38 AM   #4
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kuhn123 on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making $$$ in Final Expense
I think it is something that an individual agent would have to weigh out. I agree with you on the guaranteed cost, nice taking the gamble out of your direct mail program, but where the threshold is as far as how much someone is willing to give up for that, depends on the individual. I think motivation and stick-to-it-ness plays into the equation as well. Someone that is a "go getter" and wanting to really produce at a high level will most likely do better with a higher contract while assuming the lead expense themselves.

It comes back to what the agent currently has in terms of contract and productions level, and what they use to compare against.

We all know that there are no freebie's around here, and if someone is subsidising your leads, you are ultimately paying for it, one way or another. That is not always bad though depending on the individual.

When I started in FE I was on an 85 pt contract AND buying all my own leads (they were financed, but not subsidized). I look at that now and think, "How the hell did I make that work, I should be homeless right now."

I have worked two dialer campaigns in all my years. Feb 08 and Feb 07 (Why Feb?, I have no idea, maybe b/c it gets too damn cold in Iowa to knock on an empty door) They were decent leads, a little younger and poorer than my usual, but they bought still. I am direct mail guy all the way. I usually drop 12,000-15,000 pieces a month, regularly and on schedule.
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Last edited by kuhn123; 09-30-2008 at 02:41 AM. Reason: typo
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Old 09-30-2008, 05:28 AM   #5
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Newby on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making $$$ in Final Expense
The problem with most of these Final Expense programs is that the "upline manager/trainer" couldn't sell himself out of a wet sack. They are either failed agents or have never even been in the field.

Travis "Hoosier Daddy" is the real deal. He has been hugely successful out there selling final expense. If I was new and getting started, i would definitely take a lesser contract to get his guidance and direction. After all, 100% of zero is still zero. 80% of 3,000 is $2,400 and I don't think the guys looking for help in final expense are leaving jobs where they have been making $2,400 a week.

Travis, I saw on the Oxford report yesterday that you sold over $6,000 with them alone. I was wondering what kind of month you must have had with your MAIN carriers.
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Old 09-30-2008, 07:16 AM   #6
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rlggray on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making Money in Final Expense
I have been with Equita for 3 months and they are a 1st rate company and their training is extremely good, at least it is in Texas.

Make 1 sale and that pretty much pays for your 20 leads and the rest is yours to put in the bank.

I have nothing but good things to say about them.


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"Sometimes we are limited more by attitude than by opportunities"
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Old 09-30-2008, 08:01 AM   #7
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kuhn123 on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making $$$ in Final Expense
Originally Posted by Newby View Post
Travis "Hoosier Daddy" is the real deal. He has been hugely successful out there selling final expense. If I was new and getting started, i would definitely take a lesser contract to get his guidance and direction.
That's great! And there are many variables such as that, such as that to weigh when evaluating how much you are willing to give up. I couldn't agree with you more on the result of 100% of Zero=ZERO, so an agent needs to evaluate their entire situation, not just the contract. Lead quality, training, new business/issue dept.,etc.etc.etc. Same thing with when arguing the cost of a lead, we are assuming that they will close the same, with the same ave. premium $ and persistency; hardly ever the case though.

I was not saying anything bad about Travis, or his program, I can't as I dam not familiar with either. I just made my opinion known about taking a lesser contract for the promise of discount or free leads. And if Travis is a great trainer, I think that's wonderful. The more people he trains, the fewer idiots we have walking around spreading misinformation, and he will ultimately marke things better for all of us. Good Luck!
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Old 09-30-2008, 09:31 AM   #8
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The Secret To Making Money in Final Expense Re: The Secret To Making $$$ in Final Expense
Originally Posted by HoosierDaddy View Post
If you have 25 new leads a week and the desire. You should consistently write $4K in AP. Some weeks you may write $10K in AP. If you are not consistently writing $4K in AP and somebody shows you how to do it, and more importantly takes all the risk providing you an opportunity to do it, and in return you take a 5-10 point reduction in commission is that really a bad deal?
So what is the base commission on FE with most of the carriers in Equita? The agent is giving up 5-10 points FROM what? (And is this "discount" closer to 5 or to 10)

Al
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Old 09-30-2008, 10:02 AM   #9
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HoosierDaddy on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making $$$ in Final Expense HoosierDaddy is the thread starter for: The Secret To Making Money in Final Expense

Originally Posted by Newby View Post
Travis, I saw on the Oxford report yesterday that you sold over $6,000 with them alone. I was wondering what kind of month you must have had with your MAIN carriers.
This month as of this morning I have "Issued and Paid" right at $14,000 AP with RNA, and have another $3,000 AP that is pending. I have also written a decent amount of business with another carrier and some GI issue. I mention this only to assure all of you guys that I go to the same filthy houses, and deal with the same objections as all of you that sell Final Expense, and I make a decent living working 2-3 days a week. I have been blessed with a good friend that taught me how to do this.

This is an opportunity for guys to put their self in a position to not only write, but also learn how to write more business than they imagined. All without the huge investment of mail, and without the gamble of response returns.

It is not for everybody, but it is a great opportunity for people that want to work 2-3 days a week and make $3K -$4K a week. It is all about having leads. This job is Simple, not Easy


People often say that motivation doesn't last. Well, neither does bathing - that's why we recommend it daily…. Zig Ziglar


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Old 09-30-2008, 10:08 AM   #10
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GreenSky on The Secret To Making Money in Final Expense
 
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The Secret To Making Money in Final Expense Re: The Secret To Making Money in Final Expense
Travis:

Is training included in the lead program? Many of us know how to sell health insurance, life insurance, cars, etc. But FE is a little different.

Do we just show up with the lead cards (ala the Lead Guru) or are we calling, etc?

In other words, can you provide direction people not necessarily experts in this market?

Rick

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