We had a newly license agent recently contact us, let’s call him Mr. Agent. Mr Agent had just signed up with ABC Agency at really low commission levels(we’re talking 60-70% for most carriers) Mr. Agent came across us, saw our commission levels and asked to leave ABC Agency. He had been with the low commission ABC Agency for only 5 days. Mr. Agent did not sell one single policy nor did they even train or invest any time into him. How could this be a problem? Well it was. Mr. Agent needed a release signed to be able to get re-contracted with those same insurance companies at a much higher commission level. Mr Agent said: ABC Agency can you sign this one page release. It doesn’t cost you a penny, you just sign on this one line. The agency refused. Mr. Agent can now no longer sell any policies by those insurance companies for 6 full months! Absolutely true story. That was just mind boggling to us.

MORALE OF THE STORY: please at a bare minimum read these 6 questions to ask when considering a marketing organization/agency

We are glad you are reading this. We wish there was something out there like this that we could have read as a newer agent starting out. There is so much misinformation out there because agencies don’t want you to know you can get higher commissions AND still get great training! Rest assured you’ve come to the right place, read on for information we wish we knew ahead of time. If you choose us great! If not, that’s OK too atleast now you will have all the right information to be able to make an educated decision

6 QUESTIONS TO ASK YOUR AGENCY

1. What are my commission levels?

Most new agents get contracted at very low commission levels. Why does this happen time and time again? Lack of readily available information. In the real world, if 3 companies are hiring for the exact same position and one company pays $20/hr, one pays $25/hr and one pays $55/hr, all things being equal which one would you choose? It’s not so obvious in the job postings for final expense agents. Most are vague using phrases like “you can make over 100,000” and “top commissions paid.” Of course they are not going to advertise “we have low commissions” come join our team. This is one of the most important, if not THE MOST IMPORTANT factor that should be taken into account when you are looking for a place to land. Quality leads are not cheap. Gas and vehicle expenses add up quickly. You absolutely must be getting the top contracts to make it in this field. We hear of many agents getting 70-80-90% contracts and wonder how they survive. No wonder the failure rate for new agents is so high. You MUST have some carriers that pay 115%, 120% or more and we aren’t talking about those high priced carriers that pay high because their rates are high. This is your business, your vehicle, your lead cost. Your agency should not be taken most of your commission. We have nothing to hide, here’s our commission levels.

2. Will they hold my contracts if I decide to leave?

We thought this to be a ridiculous question before the experiences we have had. Some contracting agencies will not release your contracts if you ask to leave. What does this mean for you? Let’s say you are contracted with Insurance company A, B, and C. Well if you want to leave your agency and go write insurance company A,B and C under a different agency they will not let you. Most often times you are held hostage for 6 months before you can re-contract again and during the 6 month period you are not allowed to sell any policies for those agencies just like the story we at the top of this page, it really can and does happen. This is why it is so important to get all the information up front in writing. What will your contract levels be? Will they sign a release for you. We sign releases, although no one has yet to ask for one. Hint, hint this is a really good sign!

3. What type of Leads are available?

Believe it or not when you get your insurance license, people aren’t lined up at your door begging for life insurance. In fact mention life insurance to most folks and they cringe. It’s not an easy sale and most people do not want to talk about it. That’s why high quality leads are so important and they are your lifeblood as a final expense agent. We have all the top lead carriers out there, whether you want direct mail leads or telemarketed leads while you are waiting for your direct mail leads to come in.

4. What type of training will I receive?

When is the last time the agency representative you are speaking with actually sold a Final Expense Policy?  Is their primary focus recruiting agents or actually out in the field practicing what they teach. Although it may look like a relatively easy sales process there is a lot that goes into it. Make sure you are learning from a top producer. The two partners, Jose Arteaga and Jeff Hall sold over $300,000 and $250,000 in final expense premium in 2017 and are continue to be in the field on a full time basis. We offer ride alongs, group text and chat for when you are in the home and need help fast, Company underwriting guidelines so you know where to place your case, a full presentation and phone script that works and most importantly we are always available by phone and text, unless we are in an appointment of course!

5. If I decide Final Expense is not for me, what happens to my future commissions?

Make sure you are “vested” from day 1, which means that if you leave your upline will not keep your future commissions. What’s worse than using your gas, wear and tear on your vehicle, your leads and your time only to have your upline keep any future income you are due and earned! This practice is unfair and we agree. You are 100% vested from day 1 with us, no tricks here.

6. What if I’m in a home in the middle of a sale and need help immediately? 

What if I”m running an appointment and need an answer fast or I may lose the sale? What if it’s a weekend? There’s a lot to know in this industry, and what you don’t know becomes immediately apparent in your first few months of  appointments. Believe us, we’ve been there. You have an interested client who gives you all her medication. As you look across the coffee table full of 18 different medications with names like hydrochlorothiazide, you realize you need help! Relax, we are here to help.

How do I get started?