Should I Be Looking for Employment While Studying for Life and Health? Final Expense VS Life and Hea

[Mutherrunner]

Hey, thank you for your input. I'm also new to this site and have read a few opinions on LH but also just found an entire thread on FE. I'll look more, later. Thanks again!

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Hey, and thank you for your response! I've heard both good and bad things (as I do with so many companies) I'm also new to the site and SOOO close to passing my exam. I really want to hit the ground running but also need to explore all my options.
Thanks so much for your feedback!

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Layla, also what is/ are non res licenses?

Went to the LH seminar yesterday and it was a blast! Very positive people but you're absolutely right, Get license and explore options.

Again, thank you. I keep coming back to your post

 

[Newby]

Here are the facts you new guys need to know:

1. The best FE agent in the world could not make it long term on a 60% contract. The numbers just don't pan out. You can not buy leads, cover chargebacks, and pay yourself a living wage.

2. If anyone is only offering you 60%, they are in a pyramid style hierarchy. This is bad. That means you are under a guy who is under a guy who is under a guy... Your commission level is set by who got there first, not who is working the hardest and selling more. You do NOT want dead weight in your line up. That is not how the insurance business is supposed to work. But if you sign under the wrong people, that is the trap you will fall into.

3. People at cattle-call recruiting meetings do seem very nice. They are nice. They make a lot of money signing green agents up for very bad deals though. They are good at what they do. They will smile and shake your hand and set you up for a horrible experience.

4. If you really believe that Lincoln Heritage is the one for you, find a different channel to go under. You can cut out those middle-men and get LH at 90 or 100% commission levels as a brand new agent and at least have a chance f making it. But even at 100%, LH is a tougher sale than your other choices.

5. The reason LH is a tougher sell is due to 1. price - (they are priced higher than most other FE companies) which means you will never win with a price shopper. 2. Underwriting- they do not have competitive underwriting (people with COPD for example can only get graded from LH but can get a 1st day full coverage policy from several other companies) so you will lose many cases on less healthy seniors as they find you did not offer them a good choice. There are many health conditions where LH will not accept a 1st day full coverage policy but others do. 3. No name recognition- no one has ever heard of LH. But TransAmerica, Mutual of Omaha, Gerber, etc are household names. It's easy to sell a company that the public has not heard of but only if it's a good value compared to the ones they are familiar with. As an independent you offer all the companies. And you help them choose the company based on logical reasons. At LH you will be trying to sell LH to everyone. 4. The Funeral Guardian Consumer gimmick is just a gimmick- LH invented the FCGS as a sales gimmick so LH agents could feel like they offer more than just insurance. But you don't. The public will smile and nod their heads as you explain it but as soon as you sell that $10,000 policy using the gimmick and I come behind you with $14,000 for the same premium, all of a sudden the FCGS gimmick is worthless. Plus I can thrown in better "gimmicks" if I choose to. I don't. When you sell a better value, you don't need smoke and mirrors.

6. If after all this, you still choose to sign with LH...do NOT fall for their lead financing. That is a pit of despair. If you can't afford to pay for leads, finance them on your own credit card. Do NOT get into debt with blood suckers. Ever, ever, ever. If your commissions are not paying for your leads and paying you a living wage by your 2nd or 3rd month, you need to bale. Do NOT get deeper and deeper into debt financing leads.

7. Better alternatives- here is where you go to compare your better options. Four good ones to look at are- 1. FexContracting.com (this is me. Read every unlocked page on our website) 2. 360 Group (on the forum that's Reardon, Boman, Spur City, John Galt, and AgentGuy), 3. Todd King, or 4. EFES. Any of these is a much better choice than LH. What you want is 1st year commissions in the 115% range. New direct mail leads should be as close to $26 as possible. Training should be ongoing. You will never learn everything you need in a few weeks. Advances should be 75% (unless you've wrecked your credit from LH's lead financing. ) and you should be set up with a world class mix of companies and taught how to use them.

Call me if you want to talk one on one. I have saved thousands of your forefathers from falling for a bad deal.

 

[Mutherrunner]

Hey everyone! Thanks again for your feedback. I passed the exam last week with an 84!! Considering working as front desk for an independent agent with State Farm to get my foot in the door if chosedn. Thoughts?

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Hi,

That's a lot of information and I really appreciate you taking the time to help! LH may not be the company for me. May I email you with a few questions if you have time? Thanks again!