unitas
New Member
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Does anyone have any advice about marketing themselves as a new final expense agent? I'm wondering specifically about buying my own leads in lieu of going with an IMO?
Final Expense how Market Myself Without Going with an IMO
- Thread starter unitas
- Start date
If you are new it might be a good idea to take a commission haircut in exchange for some training. But if you must, here are some lead vendors that you can call and place an order:
- [URL="http://www.leadconcepts.com"]Lead Concepts Inc.
1060 Texan Trail
Grapevine TX 76051
1-800-283-0187- Main Street Power Mail
400 South Main St.
P O Box 4
Sheridan IN 46069
Bus. 1-866-540-6797
Fax. 1-317-758-5443 - LEADCO
P O Box 471917
Tulsa OK 74147
1-888-346-4686
- 19,958
The advice I would give is don't do it. Why assume all the risks yourself as a new agent?
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unitas
New Member
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Centralsolution: Thanks so much. jdeasy: Risk? I would be going non-contract and independent if I go with an IMO and I carry E&O...when you say risk perhaps you mean I could be wasting my money doing my own leads without training or better leads coming from an IMO...?
- 19,958
You are going to be under contract with the insurance companies if you go direct and in most cases you can get higher contracts through an IMO than by going direct.
I cary my own E&O and that doesn't affect my being with an IMO.
The "risk" I was referring is money and time. There is a lot of work and learning and expense to do your own mail. Why not partner with someone that has already learned the ropes?
Then there is the training. Of course you can learn by doing and trail and error but, again, why not partner with someone that is experienced at training?
All IMO's are not created equal. Definately do not go with one that has you assign commissions. There are good IMO's with sterling reputations and there are terrible IMO's.
- 7,041
You have a few viable options, but all should end with you going with an IMO.
1. Go with a company like EFES/Securas (JD is with EFES) and they will train you, and help you mail. They only charge per lead, and with good production I believe you can get the lead prices down to $13. You will be required to buy at least 15 leads/wk with EFES. I dont know about Securas. And you will take a cut in commission %.
2. Go with an IMO like Todd Kind, Newby, Mark etc and you will get a higher comp, but you will be on your own when it comes to leads. (This is what I did, because I didnt have a lot of start up cash, and I started cold calling off a dialer, and now have transitioned into buying leads and still dialing.) But even with these guys you can get discounts for leads. For example, I was able to get a discount for a dialer through Todd and got a good discount for TM leads through Mark.
3. Spend a year on the forums trying to figure out whats best, get frustrated and quit before you ever get started.
1. Go with a company like EFES/Securas (JD is with EFES) and they will train you, and help you mail. They only charge per lead, and with good production I believe you can get the lead prices down to $13. You will be required to buy at least 15 leads/wk with EFES. I dont know about Securas. And you will take a cut in commission %.
2. Go with an IMO like Todd Kind, Newby, Mark etc and you will get a higher comp, but you will be on your own when it comes to leads. (This is what I did, because I didnt have a lot of start up cash, and I started cold calling off a dialer, and now have transitioned into buying leads and still dialing.) But even with these guys you can get discounts for leads. For example, I was able to get a discount for a dialer through Todd and got a good discount for TM leads through Mark.
3. Spend a year on the forums trying to figure out whats best, get frustrated and quit before you ever get started.
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Unitas
Risk and reward goes hand and hand. If your not willing to take risk you will never reach greatness. Your biggest risk is if you will not work. The final expense market is a simple business and for the agents who work hard there is no way to fail. It's all about activity. leads and closing. As a new agent you will need a minimum of 20 new leads per week with a minimum premium per lead of 100 dollars annual premium per lead. Find a FE company that has a total package and go to WORK. That's the difference in winners and losers. Good luck.
Risk and reward goes hand and hand. If your not willing to take risk you will never reach greatness. Your biggest risk is if you will not work. The final expense market is a simple business and for the agents who work hard there is no way to fail. It's all about activity. leads and closing. As a new agent you will need a minimum of 20 new leads per week with a minimum premium per lead of 100 dollars annual premium per lead. Find a FE company that has a total package and go to WORK. That's the difference in winners and losers. Good luck.
Sounds OK except for the "Find a FE company" Some may be better suited to working with only one company but many independents that represent several companies are doing quite well. There is no one road to success and no one company has the "total" package.
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