This Recruiter Won't Answer my Questions!

dwdanby

New Member
12
Just got my life license, and just talked to a recruiter from Berwick, about selling final expense versus Medsupp. He was impossible! I kept asking for details on residual income with FE, and he kept saying how great it was, and I kept asking him about the ad they run showing your income selling Medsupp going up each year, $20K, $40K, $60K, $80K, and finally he said that residuals are way lower in FE but he wasn't "sure why that is so important to you." For the life of me I could not get him to tell me what the actual total income comparison is between the two types of insurance. Help! I am not going into this field because I love insurance, I am going into it to feed my family, and I just want to know what is most profitable. I do care about choosing something I can sell well, and I recognize that Medsupp is complex and the laws constantly change. Through Berwick (United of Omaha) I can sell FE over the phone which is what I most want to do, as I am disabled and it is hard to get out of the house too much. But I just need to know what kind of money I will be making, and he was guarding that info like a Rottweiler. Any advice would be awesome. Thanks so much!
 
There are much better options than Berwick to sell final expense over the phone, and if you are considering Med Supps which is the way I would go, I would look up Chris Westfall on the forum (Daytonaguy) as he is one of the more successful guys selling Med Supps over the phone. Berwick is fine for MA contracts, but go elsewhere for the other two where they have people that aren't clueless and know what they are talking about.
 
The recruiter probably didn't know the answer.
 
Couple of points. We don't get residuals in insurance, but renewals.

Also, unless can tell him how much you are going to produce, with what company, and how many still stay on the books, you are just guessing at FE renewals. Also, while they definitely are money, FE renewals aren't going to pay your bills. You better still be selling for some FYC.
 
Couple of points. We don't get residuals in insurance, but renewals.

Basically a residual requires no real action. Think fees for additional printings of a book, syndication fees to a tv actor, fees from tv channels for a movie to the actor, etc.

All you have to do is wake up again, and that isn't always necessary, and have your accountant audit the statements.

For renewals, action has to happen. You are expected to service the policy, perhaps remind them if a missed payment, help with changing bank, changing beneficiary etc. For most policies, there is really little needed to do for renewals, while others require a lot more work. The closer the renewal commission is to the first year commission, the more work you are probably going to be doing to keep the policy on the books.
 
I am not going into this field because I love insurance, I am going into it to feed my family...
Haven't seen this advice previously in this thread, but you really don't have a chance. Having to "feed your family" is wayyyyy too much pressure to put yourself under!

Despite what those trying to recruit you may say, a steady job (to feed your family) is a better choice.
 
Back
Top