Insurance Agent Forum

[ling]

Can anyone be kindly to share information about selling final expense insurance by phone? Information about Senior life insurance company? Lincoln heritage life? Final expense telesales?
I do well selling final expense in the field. But I am looking forward to work from home. I know the final expense sales by phone work thru some agents. I just need to find someone who can share a great system on what companies to contract with, what lead systems to use. Thanks.

[myinsurebiz]

We have an awesome sales system for TeleSales . . .

Easy Issue Life products - Final Expense and Term with ROP.

If you don't find what you are looking for - ring me up.

Tom

[Jim]

What kind of information were you looking for from lincoln heritage? I deal with them a lot.

Originally Posted by ling

Can anyone be kindly to share information about selling final expense insurance by phone? Information about Senior life insurance company? Lincoln heritage life? Final expense telesales?
I do well selling final expense in the field. But I am looking forward to work from home. I know the final expense sales by phone work thru some agents. I just need to find someone who can share a great system on what companies to contract with, what lead systems to use. Thanks.

[ling]

Originally Posted by Jim

What kind of information were you looking for from lincoln heritage? I deal with them a lot.

Does Lincoln Heritage take telephone application? How competitive its rates? Do you have to contract with senior life to make sales over the phone? How much commission do you expect? Do you need to be a captive agent? Do you need to assign commission to them? Thanks.

[Markingriffin]

Agents talk about Baltimore Life and Fidelity Life, when talking about selling over the phone a lot.

[ims01]

Ling,

Not all carriers allow you to sell the FE product without seeing the prospect. Since selling over the phone is our specialty, we know which products you can sell.

[ling]

Ed.
Thank you for responding. This is a great forum to have a lot of interactions with great professionals... I start to gain more wisdom and confident ... Thank you all...

[Jim]

I will try to answer some of this. With LH they will allow you to mail the application to customers so you would not have to see them in person. Now there are other companies that are better that not only alow you to do phone sales but electronic as well and no it would not have to be through senior life. You would not have to assign commissions to anyone and would not be captive. Commissions are based off how much business you can do and experience but they are very good. If you are interested mail me at jimsowder@family1stinsurancebrokerage.com and we can talk sometime and I will give you more details.

Originally Posted by ling

Does Lincoln Heritage take telephone application? How competitive its rates? Do you have to contract with senior life to make sales over the phone? How much commission do you expect? Do you need to be a captive agent? Do you need to assign commission to them? Thanks.

[ling]

Surely interesting. You are right. Not many people want to be a captive agent nowadays.
- - - - - - - - - - - - - - - - - -

Originally Posted by Markingriffin

Agents talk about Baltimore Life and Fidelity Life, when talking about selling over the phone a lot.

Thank you for that. Baltimore does phone sale, but Fidelity does not.

[Daytona_Guy]

Just wanted to come back in here and edit out anything positive I had to say earlier about Senior Life. They did not live up to their word and, as such, I can't say anything positive about them - I'm very sorry to say.

Luckily, we've moved on with solid carriers actually rated by AM BEST and things have much improved with our commissions and successful agents selling..


..Just my two cents.


Chris W.
Daytona Beach, FL
www.FinalExpenseByPhone.com

Originally Posted by ling

Can anyone be kindly to share information about selling final expense insurance by phone? Information about Senior life insurance company? Lincoln heritage life? Final expense telesales?
I do well selling final expense in the field. But I am looking forward to work from home. I know the final expense sales by phone work thru some agents. I just need to find someone who can share a great system on what companies to contract with, what lead systems to use. Thanks.

[Newby]

I don't do phone sales myself, I believe in face to face BUT if you want to do phone, Assurant is rolling out their online enrollment next month. You sell over the phone, do a 3-way call for the health questions, INSTANT approve or decline.

You hit send on your computer and the policy gets issued. No mailing, no wet signature.

I have a good contract on them and can put most agents at a 115% contract with 8% renewals for life. If you have proof of high production, I can give you a higher contract.

[ronmelton3]

My FMO called Baltimore Life and I was told that Baltimore Life only does phone sales IF you have a dedicated call center with supervision. Otherwise you still need a signature. If this is not true, please elaborate.

[myinsurebiz]

Originally Posted by Daytona_Guy

When it comes to selling over the phone, Senior Life really does have it figured out.

Their rates are way to high. They pay crumbs on their modified and easy issue plans. They have a "pass through" account that takes 20% of your advance commission - and you will never see it.

They do have phone sales down - but why sell for 80 or 90% when you can make 100 - 115% ?

Good luck tho . . .

Originally Posted by Newby

I don't do phone sales myself, I believe in face to face BUT if you want to do phone, Assurant is rolling out their online enrollment next month. You sell over the phone, do a 3-way call for the health questions, INSTANT approve or decline.

You hit send on your computer and the policy gets issued. No mailing, no wet signature.

I have a good contract on them and can put most agents at a 115% contract with 8% renewals for life. If you have proof of high production, I can give you a higher contract.

Assurant? Interesting.

Originally Posted by ronmelton3

My FMO called Baltimore Life and I was told that Baltimore Life only does phone sales IF you have a dedicated call center with supervision. Otherwise you still need a signature. If this is not true, please elaborate.

Depends. There are only a few select groups that can sell it over the phone. I thought you and I talked already?

Tom

[insuragent]

Originally Posted by ronmelton3

My FMO called Baltimore Life and I was told that Baltimore Life only does phone sales IF you have a dedicated call center with supervision. Otherwise you still need a signature. If this is not true, please elaborate.

I called today, they did not tell me anything like that. You have to do In-Speed and do a webinar. They have 3 coming up over the next 3 weeks.

[medicarebenefitsdirect]

Originally Posted by myinsurebiz

Their rates are way to high. They pay crumbs on their modified and easy issue plans. They have a "pass through" account that takes 20% of your advance commission - and you will never see it.

They do have phone sales down - but why sell for 80 or 90% when you can make 100 - 115% ?

So, you are saying they do not pay the money they owe you? Why do you say this? Have you had experience with Senior Life. I have actually heard a lot of good things about them from several people who currently use them...just curious about your experiences...

[TRK3031962]

Originally Posted by Daytona_Guy

I definitely have experience with this. What he's talking about with the Pass-Through is the first year's residual commissions after the advance is paid out. They do it differently (better) at Senior Life. It's a 65% advance and the rest is paid out in months 7-12. Here's the important part, though: any chargebacks you encounter will be paid out of the pass-through account from the sales that stay on the books. This means that they do not take a full chargeback out of your next advance check. They just look to the 7-12 month, as earned residuals to recover any chargebacks. This is because this insurance company is owned by agents that spent 17+ years in the field selling final expense.

The family (Powell's) that own the company are invested with their own "blood, sweat and tears" into the company and, as such, are not going to give away the store with premiums too low to substantiate the business or risky investments in their reserves to go out of business - both of which we've seen of late. They're also not going to sell the company out from under the agents that have brought it to where it is.

Say what you will, but you'll have no expertise from which to form an opinion on doing final expense by phone until you, yourself, are invested enough to try it. By reaching 3 to 5 times the number of seniors you could in an ordinary day (with most of that spent driving) in the field, you'd be amazed at what you can accomplish!


Christopher Westfall
Www.FinalExpenseByPhone.com

So you are substantiating this by using the example of one company (Shenandoah) out of the many companies that are out there. Hmmm, not a valid argument.
The second thing is, do you really think you (and Senior Life) are the only ones out there that sell FE by phone? Your assumptions are making you look ignorant of the world around you.

[TRK3031962]

Originally Posted by Daytona_Guy

Wow, no I don't make assumptions, sir.
There were six companies doing final expense by phone, now there are about two. This company has it figured out. That's not an assumption, but my personal experience - which is what we're on this board to share. Not sure where the hostility comes from.

It's not hostility, sorry if it came across that way. I just wondered how you assumed that the person to whom you were replying has no experience in selling by phone.
So what are the two companies selling by phone now?

[insuragent]

Assurity kind of sells by phone.

[gprosperity]

I work for both Lincoln and Senior Life and I have done both in the field and by phone. I much more prefir by phone, for several different reasons, one you do not have to drive and spend gas all day, and two in the time it takes a agent to meet with five people during the course of the day I can close more people and talk to more people, and sales is all a numbers game, the more people you talk too the more people you can close.

[SeniorInsuranceGuy]

I just called Oxford and they said all their plans must be sold face to face. Help? I'd be interested in this and am in California