Any older agents out there?

[shonceman]

I will be 63 this month. Been selling life insurance for almost 43 years. Wondering if there is any older forum members who still buy 20 FE leads a week and work 3 to 4 days a week trying to make contact with them?

I’ll be 63 in July. So, I’m right behind you on age, but over a decade less experience (I’ll make 30 years in the biz in May.) I haven’t worked with a recurring lead system in 10 years. But I’m still out there 3-4 days in the field working leads. I just don’t usually pay for them.

I’m usually working my book, referred leads, and aged leads. (I bought a pile of moldy-oldies a couple years ago for .25c each, and still working through doorknocking them all - and their neighbors as time permits.) I have occasionally ordered leads from a vendor if my other sources were slow. But it’s been about 3 years since the last time.

Of course I’m running a substantial debit business that takes the majority of my time. If I was working nothing but bank drafted FE, I’d probably try to get on a 10 per week standing lead order. Even now, I’m thinking about ordering 20 per month, but I couldn’t handle more than that

 

[somarco]

nice book of MS policies paying renewals and I write about 50 new policies a year.

100 Medigap policies (unless they are old enough to be service fees) should pay you about $2k per month.

 

[billyb]

I just looked at Inscomm and I had 380 MS and MA policies that are were paying renewals. Need to update the files every few years which I haven't done lately so probably only around 250 are paying me something. Most companies don't mail commission statements anymore and I don't have time to go online for every one so I just have to trust the carriers are paying me what I am due.

 

[WinoBlues]

Inscomm

Are they updating Inscomm any longer?

Thanks

 

[billyb]

I pay $225 for an annual subscription.

 

[WinoBlues]

I pay $225 for an annual subscription.

It was a good CRM. I figured they would stop updating it after Don died.

 

[billyb]

They still have his voice message on the answering machine.

 

[somarco]

probably only around 250 are paying me something. Most companies don't mail commission statements anymore and I don't have time to go online for every one so I just have to trust the carriers are paying me what I am due.

I can go online with all my carriers and see a commission statement. Only carrier I have audited on a regular basis is Aetna and Humana. So little with them it really doesn't matter.

Have half a dozen that cover the bulk of my clients. I know about how much each are SUPPOSED to pay each month. As long as we are close I don't check it. Don't have time.

Over 500 are paying renewals so I have enough money to spend every month.

If you are needing residuals you should have been working on that before now.

 

[billyb]

Years ago me and another local agent named Lucky Nunes were the top producers for Continental Life in our area. Back then you could write 25+ contracts a month and the commissions paid were high enough that you could make a living doing it. Then came Tricare for Life and in 1 month I lost over $6000 in monthly renewals. Lucky lost much more. Since then I have not targeted MS because of how few people are needing coverage here. You have ĺots of military retirees and civil servants so if 100 people a month T65 only 50 need something and you have dozens of agents fighting for them. I work with several P&C agents and one Edward Jones office and they refer me about 5 leads a month and I write most of them.

 

[somarco]

If the majority of folks in your area are TFL eligible sounds like you are screwed. Might as well give up or resign to knocking on doors until you are 90.