01 Dec Getting A Good Final Expense Sales Job
Final expense life insurance sales is the easiest sales job I have ever had. I have been in sales for the past 13 years and I have always done very well in sales. I’m usually the top salesman wherever I go.
What I like about final expense insurance sales is that it is very simple and it pays a lot of money. For example, my first final expense appointment paid me $1300 in commission. That was my first appointment, my first sale and I got paid $1300. I couldn’t tell you how excited I was. Especially since my next two appointments were also a sale and ended up paying me $2200 for one day of work. Wow! I just couldn’t believe it and from that point forward, I was ready to take on the world.
Pretty much, final expense selling is like anything. If you work hard, you are going to make a lot of money. But you have to work smart and to be honest with you, being an independent agent is the first step at working smart.
As an independent final expense agent, you are going to make more commission and that extra commission is essential to keep your bank account growing. If you are sacrificing 50% of your commission or 30% of your commission just so that you can have leads or back office support, work you can easily do yourself, then you are just giving away your profits. There is a certain cost to run this business and if you don’t have that extra commission, you will have a hard time making the kind of money you should be making.
To give you an example, if I had been completely independent when I made my first sale, that $1300 at 80% commission would have have been $1800 if I was at 100% commission and $2100 at 120% commission. That is huge. At 120% commission, I would have made $600 more on my first final expense sale and $1000 more for my first day. Rather than making $2200, I would have made $3200. If you multiply that over a week, a month or a year, you can see the huge difference. Even if I only made $500 more a week, that is $2000 more a month. This extra commission pays for your leads and other operating costs, making this job well worth the effort.
Don’t get me wrong, if you need someone to generate final expense sales leads for you, that is fine because you will still make a great living working any of the final expense sales jobs. I just want you to be aware of the potential increase if you are independent and that it should be a goal you want to achieve.
The biggest road block most agents have is their ability to either afford cheap final expense leads on their own or their lack of knowledge on how to find those leads. The fact is, it’s not that hard because there are many companies that provide this service and with a little investment, creativity and persistence, you will easily generate enough leads to keep yourself in business. In fact, most IMOs that promise you a final expense lead flow have to do the same thing.
They just send out mailers or hire telemarketers and they do their best to get you leads (while still charging you $20-$30 per lead). Why can’t you just do this? If it’s going to work, its going to work for you as easily as it will work for them. Some areas just don’t generate leads and some generate tons. Why waste your money and commission to have someone do this for you? Aren’t you in the final expense business to make money? Aren’t you tired of working for someone else? Then why pay for someone to something that is so easy for you to do yourself?
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