Question About FMO/Term Life Vs FE

deh

New Member
4
Hi,
I am seriously thinking about getting into the insurance business. Specifically I want to get into FE and Term life.
First and foremost:
I am trying to figure out what is in it for an FMO (Final Expense Contracting looks awesome but I'm trying to figure all of this out)? Do they get a cut of commission? What is the difference between going through an FMO and working directly with the insurance companies themselves?

also,
Please correct me if I'm wrong but my take is that Term is for generally for younger people in good health while FE tends to be for older folks with perhaps some preexisting conditions.

I guess my question here is if I focus on FE shouldn't I have a good term policy available in the event for example I am at a local business expo or start knocking on doors and I meet 40 year old wife who wants insurance for her husband.

Thanks in advance for your advice.
 
Hi, I am seriously thinking about getting into the insurance business. Specifically I want to get into FE and Term life. First and foremost: I am trying to figure out what is in it for an FMO (Final Expense Contracting looks awesome but I'm trying to figure all of this out)? Do they get a cut of commission? What is the difference between going through an FMO and working directly with the insurance companies themselves? also, Please correct me if I'm wrong but my take is that Term is for generally for younger people in good health while FE tends to be for older folks with perhaps some preexisting conditions. I guess my question here is if I focus on FE shouldn't I have a good term policy available in the event for example I am at a local business expo or start knocking on doors and I meet 40 year old wife who wants insurance for her husband. Thanks in advance for your advice.


Good questions.

1. Yes we definitely get paid for what we do. But it comes from the insurance companies not from your commissions. Your average first year commission will be 115%. It would be the same with us or without us. We get paid only if you make sales.

2. Yes, you should be prepared for running into occasional term cases, med sups, cancer plans, annuities, fully underwritten whole-life, etc. But you should only market for one thing and that's final expense whole-life.

If you come on board, we can get you prepared for anything an FE agent runs into.
 
Hi,
I am seriously thinking about getting into the insurance business. Specifically I want to get into FE and Term life.
First and foremost:
I am trying to figure out what is in it for an FMO (Final Expense Contracting looks awesome but I'm trying to figure all of this out)? Do they get a cut of commission? What is the difference between going through an FMO and working directly with the insurance companies themselves?

also,
Please correct me if I'm wrong but my take is that Term is for generally for younger people in good health while FE tends to be for older folks with perhaps some preexisting conditions.

I guess my question here is if I focus on FE shouldn't I have a good term policy available in the event for example I am at a local business expo or start knocking on doors and I meet 40 year old wife who wants insurance for her husband.

Thanks in advance for your advice.

Exactly what Newby stated. They are master trainers at FEX.
 
Thanks for the answers. Bear with this newbie here please:
I am trying to understand exactly how the insurance company and FMO (contracting company) all tie together.
For example if I joined up with fexcontracting I would then contract with the insurance company that offers FE through them?
Then suppose for example I took Mr. Roman (The Gimp) up on his offer to contract Term through him, then I would pick the term insurance companies I wanted to work with and contract through them?
I hope that made sense. Once again I am trying to tie this all together.
 
Thanks for the answers. Bear with this newbie here please:
I am trying to understand exactly how the insurance company and FMO (contracting company) all tie together.
For example if I joined up with fexcontracting I would then contract with the insurance company that offers FE through them?
Then suppose for example I took Mr. Roman (The Gimp) up on his offer to contract Term through him, then I would pick the term insurance companies I wanted to work with and contract through them?
I hope that made sense. Once again I am trying to tie this all together.

I can not answer for them specifically. But in general, yes and no. You can contract with one or several IMOs for different insurance types. Many FE type companies have a negative quirk to them in that if you have say RNA through Bevis IMO, Bevis owns you till he releases you, you cancel your contract or do not produce Xs x number of months. On the traditional side that is not the case you can have several or many contracts with say a Genworth or Pru. IMOs handle the whole independent, captive thing differently so you need to ask.
 
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