Selling final expense life insurance is my favorite sales job. Since I was 13, I have been in the sales industry for 13 years. I have always done well in sales. I am the most successful salesman anywhere I go.
Final expense insurance is simple to sell and pays a lot. My first final expense appointment earned me $1300 in commission. It was my first appointment and my first sale. I received $1300. It was hard to express how thrilled I was. I was especially excited because my next two appointments were also sales and I ended up getting $2200 for one-day of work. Wow! It was unbelievable! I couldn’t believe it, and I was ready for anything in the world.
Final expense selling is pretty much like any other. You can make a lot of money if you put in the effort. However, you must work smart and be an independent agent to make it happen.
Independent final expense agents will make more commission. This is vital to your bank account growth. You are giving away your profits if you sacrifice 50% or 30% of your commission to get leads or support from the back office. You will not make the money you deserve if there isn’t a cost associated with running this business.
For example, if my first sale had been made completely independently, $1300 at 80% commission would have been $1800. If I was paid 100% commission, $2100 at 120%, and $1300 at $1300, it would have been $1800. This is huge. With 120% commission, I would have earned $600 more from my first final expense sale, and $1000 for my first day. Instead of making $2200, I would have earned $3200. You can see the difference if you multiply this over a week or a month. Even if I made only $500 more per week, it is still $2000 more per month. This extra commission helps you pay for leads and other operational costs. It’s well worth it.
I don’t mean to offend, but if you have to hire someone to generate final expenses sales leads, that is perfectly fine. You will still be able make a good living doing any final expense sales job. You should know the potential for a higher income if you’re independent, and this should be something you strive to accomplish.
Agents face two major obstacles: their inability to afford final expense leads or lack of knowledge about how to find them. It’s easy to find enough leads to sustain your business with just a little creativity, persistence and a small investment. IMOs promising you a final expense flow of leads are actually doing the same thing.
They send out telemarketers or mailers to you and do their best (but still charge $20-30 per lead). You can do this! If it works, it will also work for you. Some areas don’t produce leads, while others generate tons of leads. You don’t need to spend money or commission on this task. Don’t you want to be in the last expense business? Are you fed up of working for others? Why pay someone else to do something you can do?
