Don't know. What is the commission schedule? How many policies do you have to sell each week to make what you need to cover your expenses?
If I remember correctly, FE insurance usually maxes at 25K? 50K? Yearly premiums couldn't be that much could they?
Just for kicks...50 year old male, NS, good health. What would my premium be? _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
The policies are from 3k-25k and I am selling and trying to find top agents that want to sell FE. I have been using a lead program that generates leads from a dialer. For a 50 yr old male it would be $11.00 to 72.00 a month. That is 3k-25k and if you would like to sell FE please let me know I get you on a top contract. They pay 9 month advance and the commission would be $900 on a 50 yr old male.
Do I assume it is 72 a month fro the 25k policy? _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
Yes it is 72 a month for 25k. One good thing about the product it is 100% tele sales so the clients can sign up in 15 minutes on the phone. You also get a 30 day free look period.
Hmm...I can get someone a 100K VUL for about $85.00 a month. Granted, it takes more than 15 minutes and there is the med test but still... _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
I know that is why I wouldn't stick just to FE because the premiums aren't as much as a 100k policy. But I can make more sales because no driving and don't have to worry about no shows. There are positives and negatives. There isn't a med test involved they just have to anwser 4 questions.
What the heck is an FE policy? (asked the stupid adjuster) _________________ **************************************
Life gaurantees a chance NOT a fair shake
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FIND a way EVERY day to lighten the load of another
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What the heck is an FE policy? (asked the stupid adjuster)
Well, I think its another name of the popular Funeral Insurance policy, suitable for the senior citizens. The final expense policy would help the seniors to build asset that may meet the final expenses. And when the funeral expenses may range between $5 and $1,000, it's a worthy purchase for many.
The Final Expense Life policy may have a steady premium and may also accumulate cash value that the policy holder can leave behind for the family to meet other expenses, like-taxes and debts.
The Final Expense Life policy is different from the Burial Protection Insurance which typically covers only the burial expenses. Moreover, the final expense insurance doesn't need medical underwriting, i.e. the applicant can avail the benefits against paying the premium without undergoing the medial check-ups which are otherwise required for a life insurance policy.
Wow learn something new everyday. Never heard of this type of policy ever. I am sure someone will disagree with me but when it comes to the Burial insurance why now just go to the funeral home you plan on using and pre set up for your death. Around here you can do that. Even buy your plot and stone.
If you are in good health, don't spend $72.00 per month for a 25K policy.
Pay $85.00 per month for a 100K policy. _________________ Life moves pretty fast. If you don't stop and look around once in a while, you could miss it. - Ferris Bueller
I've been in the FE market exclusively for about 6 years. It is a very good and easy niche market. As far as income, I work part time about 15 hours a week and earn a little less than 40,000 per year. As a first year agent, I would
1. Find a reliable lead source
2. Work no less than a 40 hour week.
3. Find other people in your area that also sell FE
4 Learn from them
I usually charge the lead cost to my as earned account. If you can find someone to do this for you, it will come in handy(No out of pocket expenses).
FE is a very fun market to work.
Good LUck
Scott _________________ Register Now to have your Insurance queries solved.
A FE (Final Expense) policy is just that, A small policy which enlarges the customers estate. This policy can be used for Burial, Cemetary, Medical Deductables, or just about anything.
Also mentioned here are pre-need plans. These have a contract with a funeral home. These are also life insurance policies however most have some inflation protection built in (from 3% to 5% per year). The safest thing about these policies is that they are contracted with the funeral home to pay for the Funeral (pre-need). They also cost more than final expense policies.
As a general rule more poor demographics purchase Final Expense and more wealthy ones purchase pre need.
If you're not careful...you also pay taxes on the pre arrangement plans with the funeral home...Grandma, and my mom and step dad found this out the hard way! _________________ **************************************
Life gaurantees a chance NOT a fair shake
**************************************
FIND a way EVERY day to lighten the load of another
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