Who is with Efes Online ?

[PotentialFarmer]

I've never sold FE, just other life / annuity products in the past. Is this FE still the goldmine that I heard an old agent talking about being huge 20 years back?

Couple Questions:

What's the premium range? Are they 50 - 100 per month?
Do they offer GI?

 

[jdeasy]

I've never sold FE, just other life / annuity products in the past. Is this FE still the goldmine that I heard an old agent talking about being huge 20 years back?

Couple Questions:

What's the premium range? Are they 50 - 100 per month?
Do they offer GI?

FE is no more or less a gold mine than it ever was. It's a completely different market than anything you describe that you have worked.

One must understand the FE market to have any kind of success in it.

In a nutshell, it's selling low face whole life policies to take care of funeral expenses. It's a different market because these people didn't get to be 60, 65, 70, 75 years old and not have things taken care of because they are good planners and been good with their money. They are simply notorious procrastinators or broke.

There are exceptions to that, of course, but, you will not build an FE business on the exceptions.

Most long time FE companies will have some version of a GI plan. You wouldn't think that there would be variations on the meaning of guaranteed, but, there are. There are only a couple of tru GI whole life policies available other than the pre-need. Again, the GI stuff is a very small part of the business. I don't even sell them. The people I run across that have to have GI, I refer them to MoO or, for pre-need, I refer them to Newby since he is in my area and is an expert on that stuff.

 

[Newby]

FE is no more or less a gold mine than it ever was. It's a completely different market than anything you describe that you have worked.

One must understand the FE market to have any kind of success in it.

In a nutshell, it's selling low face whole life policies to take care of funeral expenses. It's a different market because these people didn't get to be 60, 65, 70, 75 years old and not have things taken care of because they are good planners and been good with their money. They are simply notorious procrastinators or broke.

There are exceptions to that, of course, but, you will not build an FE business on the exceptions.

Most long time FE companies will have some version of a GI plan. You wouldn't think that there would be variations on the meaning of guaranteed, but, there are. There are only a couple of tru GI whole life policies available other than the pre-need. Again, the GI stuff is a very small part of the business. I don't even sell them. The people I run across that have to have GI, I refer them to MoO or, for pre-need, I refer them to Newby since he is in my area and is an expert on that stuff.

Thanks JD! Just had one make it one year and two days last week. He was terminally ill when he bought the policy. Paid in $1,820 and the 1-year death benefit was $8,121.

He almost went with the MOO guaranteed issue which he would have paid in $698 and his death benefit would have also been $698.

I also RARELY ever sell an FE policy where the person doesn't qualify for first day full coverage.

 

[TPAAgent]

What I love about FE is the fact you can see 3x's as many clients as say vs Mortgage Protection like I did when the market was strong

MP you'd be lucky to see 2 clients per day- normally you'd see them when they got off from work, you're 1st appt is usally around 6.30 or so

FE, they're home all day.. you can easily sit in front of 4-5 clients per day.

The great thing is theres also alot of cross selling in FE- not alot, but I do have many of my clients, especially females that want to take out policies on their daughter or son for instance

And I do bring that up alot-

"Mrs Jones now that we have protected your family, do you sometimes babysit your grandchildren? Does your daughter have insurance? Will you be the one that is responsible for taking care of your grandchildren in the event something happens to your son/daughter?

Being on a fixed income will make it hard for you to have to raise 3 grandchildren wouldnt you agree? Great, lets get a small 100k policy on your son/daughter for around $20 per month so that you will have the funds to get them their school clothes and Christmas's. You can pay for the policy and we can even make you owner and beneficiary of the policy, does that make sense to you?"

 

[Focus LTC]

I've always found that people join these outfits that offer leads because of their FEARS. They are afraid of a lot. They psych themselves out by saying:

What if I get a low response rate?

What If I don't sell any of the leads that come in?

I'll have to order at least 1000 leads a week OMG!!! that's a lot of money!!!

They are usually new to the business and I suppose they have a reason to be afraid so they hook up with a "pimp" that will capitalize on their fears by taking half their commish in exchange for what ultimately is a false sense of security.

Think about it, just like a lonely hooker on the street scared, lost and insecure, she finds refuge in a pimp. And for this refuge they pay a hefty fine. Their freedom.

And if you're there long enough, and you find some success, they will use you to promote "the dream" to new agents and that makes you feel somewhat important.

But then there are other days where you work hard to justify the fact that you are still there even though you know that they no longer add any real value to your business. You say things to yourself like, "Well, I get my leads paid for so its like a parnership, I don't work for them, they don't work for me, its all good."

But at the end of the day, they are just leaches skimming off the top. You know you could make a lot more money going indy but who would you contract with? They won't release you. You become OWNED.

I'm not directing this post at any particular company. I'm sure efes works for some people, but this is the reality of the business. There are plenty of pimps and more than enough ho's to go around. Then there are people who are truly independent, fearless, confident, and put their destiny in their own hands. Those are the real success stories.

 

[Newby]

FocusLTC,
You are entitled to your opinion. But I'm the independent side doing my own lead drops in the same area JD works through EFES.
I can promise you to get 15 steady leads each week you would need to drop 2000 pieces per week here. That's $800 for what he's getting for $150?
He's at 100% commission and I'm at 110 to 115%.
he has great training and ongoing support. I learned through the school of hard knocks.
I'd say JD has a very good deal. EFES works if you work it. The word pimps is a little harsh.

 

[jdeasy]

I've always found that people join these outfits that offer leads because of their FEARS. They are afraid of a lot. They psych themselves out by saying:

What if I get a low response rate?

What If I don't sell any of the leads that come in?

I'll have to order at least 1000 leads a week OMG!!! that's a lot of money!!!

They are usually new to the business and I suppose they have a reason to be afraid so they hook up with a "pimp" that will capitalize on their fears by taking half their commish in exchange for what ultimately is a false sense of security.

Think about it, just like a lonely hooker on the street scared, lost and insecure, she finds refuge in a pimp. And for this refuge they pay a hefty fine. Their freedom.

And if you're there long enough, and you find some success, they will use you to promote "the dream" to new agents and that makes you feel somewhat important.

But then there are other days where you work hard to justify the fact that you are still there even though you know that they no longer add any real value to your business. You say things to yourself like, "Well, I get my leads paid for so its like a parnership, I don't work for them, they don't work for me, its all good."

But at the end of the day, they are just leaches skimming off the top. You know you could make a lot more money going indy but who would you contract with? They won't release you. You become OWNED.

I'm not directing this post at any particular company. I'm sure efes works for some people, but this is the reality of the business. There are plenty of pimps and more than enough ho's to go around. Then there are people who are truly independent, fearless, confident, and put their destiny in their own hands. Those are the real success stories.

Dang it!! He nailed me, the gig is up!

But, seriously, I think you underestimate the numbers of ho's available. I don't recruit for anyone, yet, my pm box is always full. I bet the marketers have trouble keeping up with requests.

I do tell everyone that asks about EFES that it is not for the part time FE agent or the dabbler in FE. They will get covered up in lead costs if they do not go at it as a career.

An agent can work themself to above 100% contracts and $11 leads at EFES. I know that for a fact because I have done it and I am not by myself at those levels. More do not make it to those levels than do. In fact, waaay more do not. Still, $20 leads and 90% contracts is very doable. If a person can not get to that level with the EFES system and training, they chose the wrong field.

 

[luke4275]

Keep in mind all of these FE companies have contracts avail at 115% just to start.. if you have the correct fmo

 

[jdeasy]

Keep in mind all of these FE companies have contracts avail at 115% just to start.. if you have the correct fmo

That is simply not the case. Name one FMO that will start someone at 115% contract and provide leads.

 

[GreenSky]

That is simply not the case. Name one FMO that will start someone at 115% contract and provide leads.

If Luke says something, you better not disagree. After all, he's a guy who couldn't even meet with 2 prospects living only a few miles from him.

Rick