New Agent Recommendations; Equis Financial or another company?

Fast Guy

New Member
4
Hey guys! Just wanted to say that I have been reading on the forum for quite sometime now. I have been studying quite a bit before I take my exam so I can fully understand in all areas to better suit myself and potential clients while also doing research on different IMO's.

Little bit of a back story here, I have been considering joining Equis and doing that part time for two years. Now as I have been laid due to Covid & no return site in date I would love to get into insurance full time. I have always had a strong passion for helping people and although my last two jobs have been high paying, none have given me a sense of helping others that I feel selling insurance can greatly do. I have a good family friend that joined Equis a few years ago and has done exceptionally well ever since his first year and is now on track to triple his income in his third year as he has "built up" his own agency and I know that he can provide local help to me if need be or any questions as he already has. I know that this thread has pointed out a lot of flaws in Equis's compensation structures and such compared to other companies but I also am aware that training and knowledge cannot be bought. I have reached out to Ben Bowman at Equita Final Expense Services and he has been extremely helpful. EFES seams like a really good company and he even pointed out that they have a manager in my state that could provide 1-on-1 guidance if need be.

My main concerns is the guy at Equis was spending the majority of his time driving what seemed to be 2-4 hours away to an area that worked great for him and I expect most of the time these were evening hours as most people looking into MPI still work and probably work during the day. I am the type of guy that would rather get up early and crack into the day and get appointments out of the way and be home in the evening to spend time with my wife and child and this where I feel FE would be a better suit for me. Equis advertises they do FE but I know nearly all of the leads I would receive would be from clients requesting MPI.

Another concern has been caused by reading others horror stories about trying to leave Equis and having many problems due to a signed contract.

I know it seams I have basically answered my own questions or concerns but if you could give me any advice or guidance I will gladly appreciate it.
 
Do not go to an agency that haves you sign a contract!

There are plenty of other options to choose from. You need to interview them as well with good questions then compare companies. Watch for the ones that boast about their comp. Also, ask if the comp they are giving you is it for final expense or just certain term products. Let’s say they tell you your comp is 100% but MOST of the products you write that are whole life pay 10-20% less comp. Then you are at a way lower comp than you are actually at. Some products like guaranteed issue do pay less but overall get a grid for the carriers and see how they compare.

When you are brand new to the industry you just assume it is correct then look at a compensation grid and find different. Look at the long term for you. Do they want you to start hiring right away? Will they ride along with you to train? Do you have any fees?

Do they offer more training if you want to grow and expand like medicare etc?

Some might not have you sign a contract up front. However, if you want a release from the carriers they have a release form that basically is a contract to hold you down.

You don’t know what you don’t know in this business...
 
Equis advertises they do FE but I know nearly all of the leads I would receive would be from clients requesting MPI.

I don't understand why you think a FE lead is a MPI lead in disguise? FE targets ages 50-85 and talks about how the program can pay for your funeral. Most people that age ain't buying a house.
 
We are. I am 63 and have plenty of aches and pains.

:1wink:, I feel you. I am older and just had a conversation with one of my sons about how the heat,110' today, has me just staying in by about 9am. Did not bother me before but now kicks my ass. This year I have hired guys to prune my palm trees, do some paver and fence projects. This is stuff I enjoyed doing for myself. Man work. Now, I would rather go have lunch and a cold one. So yeah, it is catching up with me.

I know a lot of people my age group selling and buying homes. I will be down sizing myself in a few years. We all have cell phones and text. My 'senior' clients are always on the go. I had to do a Covid test this morning then had a couple hours before my doctor's appointment. So I went to a restaurant with a nice patio. Filled with people. Mid morning and not a person under late 50s, probably 65-75 average.

I don't do MP, however, if I was I really think I would try the 50 year old plus market. Much higher premiums, people understand they are older and will pay more and have more money.

Also, Not 'FE' people but people that will buy SIWL. Because they have health issues. And the term or group coverage did not work out.

In my case my term book is still feeding me.

All IMohsoHO
 
My book is keeping me afloat. Sold a 20YLT and SIWL in the last week from inbound calls. I haven't missed door knocking at all. Saw so many rude people before the virus there ain't no telling how bad it would be now. Still not hot enough that I can't get my fishing trips in early.
 
My book is keeping me afloat. Sold a 20YLT and SIWL in the last week from inbound calls. I haven't missed door knocking at all. Saw so many rude people before the virus there ain't no telling how bad it would be now. Still not hot enough that I can't get my fishing trips in early.

Add a GUL in there and it sounds like a normal mix to me, in the same family group.

I sure wish I would have sold a lot more 10 & 20 yr term, 10 & 20 years ago.

Inventory
 
Back
Top