Minimum Sales Requirements

[shonceman]

would you suggest signing up with several companies myself or working with an IMO?

If you're part time, you shouldn't sign up with several companies. Pick one company that will cover most people competitively. Then get a GI carrier for the others. Like others have said, doing FE part time is going to be difficult (but I wouldn't say impossible). To be effective in your situation, you need to be as streamlined as possible. Getting multiple carrier contracts will just cause multiple headaches.

You should go through an IMO, if you can find one that's willing to take you on as a part timer. They can give you some guidance that you'll need since you're inexperienced. Your commission rate won't be any better by going direct, anyway. Several good ones post on these boards.

 

[shonceman]

To read the posts of those succeeding in FE here at the forum, one would think that there is no such thing as a full-time FE agent.

HaHaHa! And the ones that say they're full time are selling in their underwear!

In reality, I'm not a full time FE guy either. I am a full time insurance man, though. I take some of my own advice in not spreading myself thin on products that I don't write often. For example, I don't write term often, so I have one carrier for smaller face amount simplified issue term, and another for larger cases. It's just too confusing to deal with too many carriers if you're not placing a lot of that type of business. I think that's even more important to consider if you've got a completely different full time gig.

 

[rousemark]

To read the posts of those succeeding in FE here at the forum, one would think that there is no such thing as a full-time FE agent.

Just because they work two or three days in the field does not mean they are not full time. They spend another day or two on the phone, calling to set appointments, scrubbing and submitting apps, taking care of follow-ups and doing detail work. I will bet that most, when it all said and done put in 40+ hours per week.

 

[shonceman]

Just because they work to or three days in the field does not mean they are not full time. They spend another day or two on the phone, calling to set appointments, scrubbing and submitting apps, taking care of follow-ups and doing detail work. I will bet that most, when it all said and done put in 40+ hours per week.

Right. And the guys doing the road warrior thing often cram every out of town minute chock full, so those 2 or 3 days can easily approach full time hours, not even counting the phone and paperwork days.

 

[nfl72]

when I am on the road I usually leave my house around 9am and get to my work site at 11am. I usually work until 5 or 6, then get a room and dinner and drinks. Get back to the room around 11pm.

Thursday I leave the hotel around 10:30am and work till 2:30pm, then drive 2 hours home. I usually spend an hour or two doing paperwork and making calls on Monday or Tuesday.

I avoid work on Friday Sat Sund and either Mond or Tuesdaay.

Don't want to get burnt out

 

[FinalExpenseDojo.com]

Changing your approach?

Just being completely transparent for the OP

 

[ayres]

I would like to go with an imo for the support as some of you have mentioned. Any I have found though has a minimum number of leads to buy each week and that would be more than I could afford. Most I've seen require 15-20 leads a week and I would only need that many each month probably.

 

[FinalExpenseDojo.com]

I would like to go with an imo for the support as some of you have mentioned. Any I have found though has a minimum number of leads to buy each week and that would be more than I could afford. Most I've seen require 15-20 leads a week and I would only need that many each month probably.

If you're referring to direct mail, anything under 25 per week is part time, in my opinion.

15 leads a week could be worked VERY quickly. Imagine how much time it takes for a FedEx driver to deliver 15 packages.

 

[mudhound]

I honestly don't think it's worth all the trouble just to try to write one policy a week type thing

I dis agree. Even one sale per month could net thousands of dollars per year.
Plus, I plan on doing such when i simi retire.

 

[ayres]

If you're referring to direct mail, anything under 25 per week is part time, in my opinion.

15 leads a week could be worked VERY quickly. Imagine how much time it takes for a FedEx driver to deliver 15 packages.

I would like to find some leads like are supplied by imo's without having to be locked into buying a set number a week. I have heard with those leads that the closing rate is much higher and that out of 20 leads that I could possibly get 4 closes. Not sure if this is accurate or not but I have seen many gurus recommended Working that many a week so I believe that would work for me on a Monthly basis. So in you're experience does this ring true or not so much? And does anyone have a source for leads without joining an I'm because I'm having a hard time finding that?