Scroll down for a discussion on Final Expense By Phone.com within the General Insurance Agent Discussions.
Originally Posted by Merlin
Thus settling once and for all that it is much better to sell over the phone!! Right.....so, was it through Finalexpensebyphone.com??
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Since this whole thread is dedicated to my website (www.finalexpensebyphone.com), it's probably appropriate enough to mention that we now have great contracts for agents with United Home Life and Foresters.
Both companies are very strong for final expense, and we have the training methods to get you productive either in person or via the telephone.
CW
------------------------------------ Eliminate Final Expense lead costs with the cross-sell (Medicare + Final Expense).
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No such thing , 8% return on mail. from 91' till now the best we got is like 3% . BS, and please run, run like the wind and keep your wallet in your front pocket ......Alex
No such thing , 8% return on mail. from 91' till now the best we got is like 3% . BS, and please run, run like the wind and keep your wallet in your front pocket ......Alex
Really? Call Mainstreet Powermail and ask to see the report on the latest mailer for Medicare Supplements - the NJ mailing. It was greater than 10%.
If you're not getting 8%+ in your back yard, you probably need to mail in another back yard! When selling over the telephone, you can easily do that by reaching places where there are not many agents working that population. That's the key.
Selling over the phone works for some agents and not for other agents. Selling in the field works for some agents and not for others. I believe about 80% quit their first year (whether in the field or over the phone).
I've spent 7 years in the field (FE only) and last 3 1/2 years selling over the phone(FE only). So I may have more experience with these 2 methods than most on this fortum.
I prefer selling over the phone. Why? Well you hear the same excuses not to buy on the phone that you hear in the field. The persistency is the roughly the same. Closing % is maybe..at most 10% less. (I have the data to support this stmt.). Selling on the phone speeds up the earning RATE for the agent. I can work 25 leads on the phone in about 60% of the time it takes to work those same 25 leads in the field.
Even if I miss 1 sale on the phone that I would have made if I was face 2 face with prospect (the 10% less closing % as mentioned above), I will still make more money per unit of time worked (by the hour, by the week, etc.) if I used the phone. I'm speaking from experience on me and my small team of agents.
What really makes things nice is that we ALWAYS work 20-50 leads per week. The agent decides how many they want for the week. And CHARGEBACKS NEVER EVER are deducted from the next advance. Charge backs are repaid to the Co. from your unadvanced part of your comm. So your next check is dependent ONLY on your production submitted. Helps keep agents from hopping around to other co.'s.
Of course we are all captive, but that's perfectly ok. That way no one takes the leads and writes them up w/ another co. What's wrong with being captive in this just described situation? NOTHING! It's great!!
If anyone is looking for a new opportunity doing what I do, let me know. Requirements: Very coachable, tremendous work ethic, captive, and able to INVEST $400 or more each week buying leads to make yourself some $$$.
The 2 co.'s we represent are Lincoln Heritage and Senior Life. Both co.'s have received some bad press by some of the forum members (you know..the unsuccessful agent who blames the co., or his manager, or the leads being no good, etc.). Shucks, you can even call LH on Sat. afeternoon and they have people answering the phone for agents who like to work on Sat.). How strong is that? And you get your advance comm. paid the day after the Co. receives your apps., before the draft/check even clears.
I have never met an agent who likes to work on Saturday. Heck, it is hard enough finding agents that like to work on M-F. The main problem most people on here have with Lincoln Heritage, is mainly price. Colorado Bankers will also pay the agent before the draft clears.
I have never met an agent who likes to work on Saturday. Heck, it is hard enough finding agents that like to work on M-F. The main problem most people on here have with Lincoln Heritage, is mainly price. Colorado Bankers will also pay the agent before the draft clears.
I've found that if I'm selective about who I contract I am better off than contracting anyone and everyone. Eliminates wasting time with LAZY agents.
!st year comm. are less than most other co.'s. But this is more than made up for with the chargebacks NEVER deducted from adv. comm. Helps an agent stick around and survive. Comm.% depends on what an agent or GA brings to the table.
70%, but only after a mandatory 3 day traing class. I have agents who were making over 1G their 2nd week doing this. Having PLENTY of leads at ALL TIMES and knowing the phone script cold is what makes this happen (as long as the agent has a great work ethic and is coachable).
No such thing , 8% return on mail. from 91' till now the best we got is like 3% . BS, and please run, run like the wind and keep your wallet in your front pocket ......Alex
Come on Alex, you can get almost as high a response rate as you'd like if you write the piece correctly. I met with a GA about a year ago who was very pleased with the 5% response rate they got on their Medicare piece, that's an unusually high for this area. Funny thing, he pulled out the piece and all it said was basically fill out this card to learn about the changes to Medicare. Using that generic of a piece is it any surprise people filled out and returned the card? The challenge his agents had with those "leads" is that the quality was replaced for quantity. Personally I'm a bigger fan of a lower response rate with a more qualified lead, but an 8% response rate isn't impossible, but the likelihood of the leads being of a reasonable quality is improbable.
Free advice to increase your direct mail response rates: Use the line "Each reply enters you in a drawing to win a free 60 inch color tv or $5,000 cash".
This thread was about FE not med sups. There is no way someone is getting an 8%, or even 5%, return on FE mailers. It just doesn't happen.
Why should one bother to try to convince you.. the point is, it cannot be done in this environment today. It was, however, done with frequency in Michigan through Mainstreet Powermail.
Why should one bother to try to convince you.. the point is, it cannot be done in this environment today. It was, however, done with frequency in Michigan through Mainstreet Powermail.
You probably shouldn't bother since it can't be done. No way and at no time or nowhere did anyone ever get an 8% return on FE mailers.
Not in this century or the last century. Not in Michigan and not even in Disneyland. If someone told you they did, they lied to you.
This thread was about FE not med sups. There is no way someone is getting an 8%, or even 5%, return on FE mailers. It just doesn't happen.
If you go back a bit you'll see that Chris was talking about a Medicare mail drop to in NJ. Whatever you're mailing for, Medicare, FE, power chairs, etc, you can always bump your response rate by providing an incentive for the folks to return it. That being said, you're usually giving up quality to achieve quantity.
Dwayne, I am interested in finding out what company you went with on the FE by phone..the email posted was returned; or feel free to email me
Floridahealthandlifeatgmail dot com
Re: Final Expense By Phone.com
No such thing , 8% return on mail. from 91' till now the best we got is like 3% . BS, and please run, run like the wind and keep your wallet in your front pocket ......Alex
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