Insurance Agent Forum

[glrocky]

Assuming a decent batch of final expense direct mail cards are in hand (Let's say 15), how many appointments should a good FE agent average, and what should the close ratio be? I know that this might be a difficult question to answer with several different variables to take into account, but what would your best guess be?

Thank You.

[rlggray]

For me, assuming I can actually contact all 15 of the prospects, I'll average 13 appointments and close 5 of them. But I've only been doing FE for a couple of months, so I expect my closing rate to increase in due time. In the real world,out of 15 leads, 5 or so will not answer their door or phone. That has been my experience anyway.

[mickeyma]

Every marketing firm I talk to touts a closing ratio of 1 out of 3 leads. If this was that easy, everyone would be doing final expense and making a small fortune. 15 leads=5 sales @ $500 per sale=$2,500 per week=$130,000 a year. Ya right!!!
I'm in the Los Angeles area and I can tell you that my fellow agents do not have these closing numbers. 15 leads=10 people you can contact=5 appointments=2-3 sales at best.

Good luck

[theinuranceguy]

Ive had most luck doing FE in rural areas...

15 Leads = 8 Appointments = 4 sales

For me at least...

[senior-advisor-indiana]

I think Hoosier Daddy has a 15:14:13 leads to appointment to sale ratio.

[AgentOrange]

I stopped using direct mail 2 months after starting out that aint my bag ... Im the guy that interupts your dinner trying to get you information about new programs you may not have known you qualify for ... telemarketeer i am, iam.

[mom2sean]

Originally Posted by AgentOrange

I stopped using direct mail 2 months after starting out that aint my bag ... Im the guy that interupts your dinner trying to get you information about new programs you may not have known you qualify for ... telemarketeer i am, iam.

I stopped using direct mail 2 months after starting out that aint my bag ... Im the guy that interupts your dinner trying to get you information about new programs you may not have known you qualify for ... telemarketeer i am, iam.

Hi,
I've stopped using direct mail also. However, I'm struggling with a FE phone script - any advice for me would be appreciated.

I've used a free presciption discount card offer with some results - but I'd rather get in the door with the client EXPECTING me to talk about insurance.

[Louis P.]

Originally Posted by mom2sean

I stopped using direct mail 2 months after starting out that aint my bag ... Im the guy that interupts your dinner trying to get you information about new programs you may not have known you qualify for ... telemarketeer i am, iam.

Hi,
I've stopped using direct mail also. However, I'm struggling with a FE phone script - any advice for me would be appreciated.

I've used a free presciption discount card offer with some results - but I'd rather get in the door with the client EXPECTING me to talk about insurance.

I am the complete opposite. I can't stand the phone...BORING...personal choice, I guess. I would much rather show up at the door and chit-chat my way into making a friend first and a client about 20 minutes after that. I know, I know, "with the price of gas nowadays" and all that, but I can make $2500-$3500 for every $400 mailer sent out......I think its worth it. I don't think that I could profit that much by trying to set appts. on the phone.

Whatever works for ya the best is whatcha should do, though.

[kuhn123]

I always tell people to count on 50% for appts and the same for close.. So if you have 15 leads in hand ($255 Gov't lead), you should be able to call and set 7-8 apts., and close 3-4 of those. I take out ~20 leads a day, and try to set 10-12 appts. If I call 20 leads on the phone, I probably burn 3-4 of them right there on the phone, and I am then left with 5 or 6 to go knock on.
I used to never set appts, just go knock on every lead. I think the end result is the same either way. The folks that are going to set an appointment with you on the phone are the same who are going to invite you in if you were knocking, and I really believe your close ratio is the same also, you just save yourself some of the headache of tracking folks down.

[Paradigm]

Who is a good IMO that offers final expense carriers

[Winter]

Originally Posted by kuhn123

I always tell people to count on 50% for appts and the same for close.. So if you have 15 leads in hand ($255 Gov't lead), you should be able to call and set 7-8 apts., and close 3-4 of those. I take out ~20 leads a day, and try to set 10-12 appts. If I call 20 leads on the phone, I probably burn 3-4 of them right there on the phone, and I am then left with 5 or 6 to go knock on.
I used to never set appts, just go knock on every lead. I think the end result is the same either way. The folks that are going to set an appointment with you on the phone are the same who are going to invite you in if you were knocking, and I really believe your close ratio is the same also, you just save yourself some of the headache of tracking folks down.

Where are you getting your leads?

Winter

[kuhn123]

Originally Posted by Winter

Where are you getting your leads?

Winter

The IMO that I contract through, Pacesetter Insurance Marketing Group . Com, has an in-house lead provider, or I have also used lead concepts, and hope to use need-a-lead again in the future.

[Joe Moore]

Originally Posted by Paradigm

Who is a good IMO that offers final expense carriers

Being an IMO for several carriers, mostly in the Senior Market, we have over 21 years in this business. We have lately been involved in helping create a NEW easier underwritten policy with a major Senior Life Company. This product will be on the street about September 1, 2008, and the closing ratio on this should be very high, due to relaxed underwriting and more than reasonable premiums.

Our experience with Mail Leads is if an agent sells much over one out of four, they are a great salesman.

Different methods are employed by different salespeople. My son, being in the business for 19 years tries to go see every lead. If he can't find the person, the telephone is the last resort.

We have other agents who try to cull them out by phone
And their closing ratios are usually lower. However, as the old adage goes...different strokes...

Joe Moore
National Senior Benefits
Asurco Insurance Marketing
PO Box 1954
Morristown, TN 37816
1-800-226-1004

[kuhn123]

Originally Posted by Joe Moore

Being an IMO for several carriers, mostly in the Senior Market, we have over 21 years in this business. We have lately been involved in helping create a NEW easier underwritten policy with a major Senior Life Company. This product will be on the street about September 1, 2008, and the closing ratio on this should be very high, due to relaxed underwriting and more than reasonable premiums.

Our experience with Mail Leads is if an agent sells much over one out of four, they are a great salesman.

Different methods are employed by different salespeople. My son, being in the business for 19 years tries to go see every lead. If he can't find the person, the telephone is the last resort.

We have other agents who try to cull them out by phone
And their closing ratios are usually lower. However, as the old adage goes...different strokes...

I definitely agree with the different strokes.....
I spent my first 4 years in the FE biz knocking on every lead, and isuued and paid over 200k every year.

I now believe in setting appts, and last year Issued and Paid 270K of FE prem. The bottom line is getting in front of people. You can put up the prettiest sign around in front of your office,but these folks are not going to come see you for a FE policy. If you do the leg work, and see the people, the sales will come.

[Winter]

Originally Posted by kuhn123

I definitely agree with the different strokes.....
I spent my first 4 years in the FE biz knocking on every lead, and isuued and paid over 200k every year.

I now believe in setting appts, and last year Issued and Paid 270K of FE prem. The bottom line is getting in front of people. You can put up the prettiest sign around in front of your office,but these folks are not going to come see you for a FE policy. If you do the leg work, and see the people, the sales will come.

Most excellent.

Winter

[Markingriffin]

Final Expense is one of my best markets. The market is growing fast also.

[MedSuppPro]

Originally Posted by Markingriffin

Final Expense is one of my best markets. The market is growing fast also.

OK, so how do ya do it?

After 9-11 there was a spike in life sales. How about now. During the Great Recession of '08?

If I mail out 1000 mailers what will be my % returned? Is the best mailer the two hundred and something SS death benefit?

What is the average age of a FE sale?

Isn't the average death ben around 5K?

FE is not something I've done a lot of. I've done 2nd to die. One guy out in California told me to get an old beater to drive to interviews. Does the car you drive matter?

[GreenSky]

Originally Posted by MedSuppPro

FE is not something I've done a lot of. I've done 2nd to die. One guy out in California told me to get an old beater to drive to interviews. Does the car you drive matter?

You must have spoken with my good friend Alan Benedict. He writes a ton of this stuff, teaches agents how to sell, and is a popular speaker at senior sales events.

Indeed, he does drive a beater and keeps the good car at home.

Rick

[Markingriffin]

Originally Posted by MedSuppPro

OK, so how do ya do it?

After 9-11 there was a spike in life sales. How about now. During the Great Recession of '08?

If I mail out 1000 mailers what will be my % returned? Is the best mailer the two hundred and something SS death benefit?

What is the average age of a FE sale?

Isn't the average death ben around 5K?

FE is not something I've done a lot of. I've done 2nd to die. One guy out in California told me to get an old beater to drive to interviews. Does the car you drive matter?

Insurance Agent Forum - Page Not Found <---- This is one of the ways I prospect and sell Final Expense.

All of the baby boomers are getting old and there are almost three times the seniors these days. The older you get, the more you think about death. Most of them know that someone will have to pay for their funerals.

Term Sales are down, but F.E. sales are way up.


"the Great Recession of '08?" Hmm, reminds me of fishing. Sometimes you just have to change your bait and location. The problem is a lot of agents don't know how to do this. My numbers are not down because of any Recession. People still die and need insurance. I think the demand for insurance is up. You need life insurance more then ever!

Direct mail is not a science. Results will always very. I've read a ton of books that said that you should mail to the same client at least 3 to 5 times, before the client will response back to you. I once tried this, and I had the best results on my 3rd mailing to the same clients. The most important thing in direct mailing, is who you are mailing and what you are mailing. Not how many you are mailing. Also take my advise. Don't do any mailing for the rest of December. Cmas time, really effects it.

I sell final expense to all ages and all amounts. The younger clients usally buys a big term policy and a small F.E. policy. They need big term protection when they are younger, but in about 30 years, the house should be paid off and the kids should be gone and a lot of the bills will be gone also. But most of them will have not set aside money for their funerals and they need a F.E. policy.


You asked me if the car you drive matters. A lot of things matters, but what matters the most, is that you help your client and do what is best for them and you know your products like the back of your hand. If you do this, you car won't matter.

[MedSuppPro]

Originally Posted by GreenSky

You must have spoken with my good friend Alan Benedict. He writes a ton of this stuff, teaches agents how to sell, and is a popular speaker at senior sales events.

Indeed, he does drive a beater and keeps the good car at home.

Rick

Alan Benedict -- It's a small world!

He's good!
- - - - - - - - - - - - - - - - - -

Originally Posted by Markingriffin

"the Great Recession of '08?" Hmm, reminds me of fishing. Sometimes you just have to change your bait and location. The problem is a lot of agents don't know how to do this. My numbers are not down because of any Recession.

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