Don't Sell Final Expense Or Mortgage Protection... Do THIS Instead!

When you first start off as an agent, all right, or, you know, let's say you don't really have the capital to start off, you're usually going to start off either in final expense or mortgage protection term. Okay? This is like what everybody starts off with, right? Me personally, I've never actually sold mortgage protection. I started in final expense. Now, what you have to realize is if you want to build long term sustainable wealth and you want to have something that you can do long term in the business, these are not the things that you want to do long term. Now why do I say that? Okay, Nobody else is going to tell you this because they want you to just sell final expense or mortgage protection and term for the rest of your career, because that's how they make most of their overrides. Your upline is not going to tell you this. I'm telling you this from what I've learned from messing up, making the mistakes and also talking to people that are ahead of me, ahead of you, and like, know these lessons fundamentally, right? You are not going to do final expense sales for 25, 30 years over the phone and love your life. This is a freaking grind, okay? It's a grind, right? So is mortgage protection sales. Like, you only make money when you're banging the phones and closing deals, right? Now, again, if you use a system like ours, is it going to be easier? 100%. Is it still going to be a grind? Absolutely. If you are like confused on that or you're not willing to grind for this, hopefully this video will set the vision so that you are comfortable. And, and.

Basically after this video, you should, you should feel more comfortable with the grind, okay? Because that is, that is what it is. It is a grind. But when you understand the long term picture, the long term vision, the grind becomes worth it. Okay? So this being said, this is the best place to start because it allows you to learn the business quickly and build up some cash flow, right? But it is a, it is a total grind and you will burn out eventually if you just do this. Okay? Which is why there's essentially three paths that you need to fundamentally look at and decide between. All right, Path number one is the teacher path, which is basically like building an agency, becoming a builder. Right? Now, in order to do this, from my experience, and my recommendation is you should master one of these two products or both, right? Both of these, you know, markets selling final expense or selling mortgage protection term to the point where you have done it successfully. You've made, you know, maybe you've taken Home and deposited like profited $10,000 in a month. And then you can show other people how to do that. And that is basically becoming a teacher. And this is essentially building an agency, right? Everyone kind of understands that model in the business because it's what is the most commonly talked about this is becoming a teacher, right? You need to learn this product and then teach other people how to do it so that you can eventually build your downline, right? So this is you, you start to build a downline of agents who then they're selling and you're essentially earning off of their overrides and you start to get into more. It's not passive income, but it's not active income, right? You still have to manage these people, you still have to train them, you still have to bring more people on. But then those people start having their own downlines, right? And essentially you kind of ascend to this agency builder model. Now again, there's a lot more that goes into that. Is this easy? No. Are there downsides? Of course. Right. But that's any business and like you guys have to realize nothing you do is going to be easy. Nothing you do is going to be easy. And everything that you try to do is going to have short term sacrifice for long term payoff. But if you're getting into this to build an agency, then while you're on the phones, you need to approach this with the mindset of I'm gonna prove that I can do this so I can bring other people on to do it. Not, hey, I need something that I would be comfortable doing for the next 30 years. No, it's something you need to be comfortable enough so you can teach other people how to do it. Because you can earn a crazy income selling final expense or selling mortgage protection over the phone. But it is a grind, right? It is definitely going to be a grind. Next thing. So we talked about the teacher. The next option is essentially advancing to advanced markets. Okay, Advanced markets. Now with advanced markets these are going to be basically there's, there's a few like main ones.

You have annuity.

Going to put ann annuity. You have IUL.

And you know, universal life in general, IUL and ul. And then you also have like whole life. But when I say whole life, I'm not referring to like a final expense policy. This is usually going to be like a cash, a cash value focused product, whole life.

As well as like, usually people use this for like infinite banking where you essentially are becoming your own bank. And then there's other people that get into this kind of market. And then eventually they also become like financial advisors and they start taking aum, which is essentially assets under management. Right. Now this particular path is not easy by any means, and it still requires you to be a salesperson, but it's not nearly as much of a grind because you're having higher level conversations with higher level people than you typically are with mortgage protection and term. And it essentially becomes more of like, it's a longer sales cycle. So like some of these deals can take weeks or months to go through, but they're like really big commissions, right? Like one annuity, you can make like 30k, like 30k on one deal, right? Or in like an IUL, you can make like 12k or 7k on a deal, right, from one deal. So you don't need to sell nearly as much. And it's essentially about the relationships. And people are more excited to have these conversations about an annuity or an IUL than they are about a final expense policy. They're more excited about it, which means it's easier to get people to show up on Zoom. Like for example, right now what I'm doing is I built a whole funnel that essentially gets people to pre book on my calendar. And, and I'm having these higher level conversations, right? So an advanced market agent, again, if this is you, you need to, you need to be somebody that's like very articulate, shows up well on Zoom, right? Like you can see I have this whole background with a bookshelf. It makes me look really smart, right? I don't want to jump on and have advanced markets conversations in this T shirt. And if I had just like a white wall as my background. So you have to show up well, you have to present well, right? Like when I jump on these calls, I'll wear a watch, I'll wear a polo, which I have hanging in my closet and I'll, I'll have these advanced conversations. But you have to study, you have to read books and you, you really have to become a master of the game because you're essentially talking about people's like, retirement and you have to understand the money game on a, on a deeper, fundamental level. Okay, if that's you and you get excited about that kind of stuff and you like talking about, you know, know, tax strategy and you like talking to rich people, then this is, you know, a really good path for you, the advanced markets thing. All right? Now the last path.

Is basically going to be riding out one of these products and then essentially cross selling, right? So this is like the typical farmer. Well, actually.

Just to be clear, both of these are farmer. Okay. When I talk about farmer versus teacher, and I'll give you guys a example of what I mean by that, in case you're not familiar.

This other one is basically going to be. It's all about renewals.

Renewals. Okay.

So basically what happens is with the advanced markets, just one thing I want to add to that is like you get one client and then you basically become their agent for everything, right? So if they buy an IUL from you, you're going and you're getting referrals, you're trying to cross sell other products and you're basically like their go to person for different things. The money is in paying one time to acquire a client, building the relationship and then selling multiple things to that client and selling their entire warm market. Right? Because if I buy a, if I pay for a lead one time on Facebook, let's say that lead is $13, right. Which is what I'm paying right now for an IUL lead. And then I would say about. I don't have the exact numbers, but we'll say like 30 to 40% of them are pre booking appointments and about 50% of those people show up. Right? So if we do 13. One sec, let me do the math. All right, so that means my cost per appointment is roughly 32. Whoops, wrong marker. That means my cost per appointment right now is about like 32 bucks.

3250. Okay, I'm just doing this math to show you guys like the power of this.3250. If this is a 50% show rate, then my cost per live appointment is going to be about $65. Right. Now let's say for the. Let's just be conservative. Let's say I close 20% of these live appointments, right? Which maybe that's low, maybe that's high. Time will tell. We just need to do 65 times five. All right, so $325 cost per sale for an advanced market sale. Okay, now if I turn that $325 and let's say my average policy size is 2k or my average commission, right? It should be higher if you're doing advanced markets. But let's just. Well, let's say it's 3k, right? Average commission is 3k. That's a really good return. That's almost a 10x. But what happens if all of a sudden instead of it being 3k for every client, I also sell another referral and I sell them an additional policy. So if I take my average policy or at my average commission per client from 3k to like 15k for example, now I'm literally just like, I'm making so much money. So the game is in paying one time for the lead and then making like 15k from a $13 lead. If you can do that, you will never have money problems again. Right. And that's essentially the whole idea of being a farmer, cross selling and increasing the lifetime value of a client. Okay. So that's advanced markets. The other thing is the renewals. So basically the cool thing about this is you can just stick with the simple products like the final expense and the term the advanced markets, like they're freaking advanced. You got to learn some stuff, you got to be smart and you got to learn a lot of different things. If you just stick with the basic stuff and focus on building a clientele base and then going for renewals, it's a lot easier. But it's not like you're not having advanced conversations and it's still a grind in the beginning. So the way that I recommend doing this is you just hustle the phones for like a year to two years, right? So you hustle the phones for like two years.

And you try to build up about 300 clients.

Now once you have 300 clients, the cool thing about the system that we have is our CRM has built in follow up automations to your clients. So we reach out to your clients every holiday. So you're always checking in. But also two times a year, one on the birthday.

One on birthday and one on policy anniversary. I'm just gonna say Ann for anniversary, right? One on the birthday, one on the policy anniversary. Two times every single year. So if you have 300 clients, how many times are you reaching out to all of your clients per year? 600. Okay. Which means pretty much every single working day you're going to either call a client to wish them happy birthday or you're going to be reaching out to a client to do a policy review for their policy anniversary. Now what happens is when you have 600 like contacts every single year, this is going to turn into opportunities, right? Literally I have clients right now that are doing this and they don't even have 300 clients yet, but they're writing policies left and right just from, hey, just reaching out. Wanted to wish you a happy birthday. Or you know, just reaching out. So your birthday's in about a month in case you want to add on more coverage. Now's the best time to do that. Right. It just spits out policies left and right. And when you're reaching out to these people this amount of times, you're going to find upsells.

Upsells, Cross sells.

And referrals. Right. I don't know if I sell Cross sells. Right. But we'll just go with it. And referrals. Okay. When you call Ms. Jones and you wish her a happy birthday and you ask how the grandkids are doing, you'd be like, oh, by the way, you know, I don't know if we ever talked about this, but does your daughter have anything on her? No. Oh, great. Well, you know, obviously I don't want to ruin your birthday, but if you can connect me with her, I'm happy to help her out. And, you know, I'd love to, love to make sure everyone in your family is taken care of. It's just those casual conversations, right? What's the common saying? Closed mouths don't get fed. If you're reaching out to all your clients and you just mention referrals or mention cross sells or mention upsells, you're gonna find so much business. And this is with 300 clients. Okay? What happens when you've been doing this for like three years and now you have a thousand clients? That is 2000 messages and reach outs every single year just to people that are already paying you? Like, these are the people. Like, this is way more efficient than calling leads. But you have to do the grind in the beginning in order to get to this point. You have to do the grind in the beginning in order to get to this point. So that's essentially how that works right? Now, what. What I recommend in the beginning is starting off with just one product, right? One product. But what happens is after a while, when you have this clientele base, all these people, they need additional things. And so remember, guys, the game is pay one time for the lead lead, get the client, and then jack up the LTV per client, right? So if I'm only selling one product to 300 clients, I'm missing out on a lot of lifetime value, which is where. What I can then do is now I get into offering other products. So if I'm doing final expense, I. I'm probably gonna start offering Medicare to all of my clients, right?

And I can also offer hospital indemnity, right. I can also offer dental vision. I can probably also find some annuities here, right? And if I'm doing like the mortgage protection term, well, I can go and sell, like, regular health insurance, right? So health Insurance.

And the cool thing about specifically Medicare and health insurance is they have something called renewals. And when you have 300 clients that you just can go reach out to, let's say you spend a week, once you add on these other products and you call back your existing clients and you say, hey, you know Ms. Jones, I know helped you with this life insurance policy, blah blah, blah, by the way, I now help people with Medicare. Are you open to having that conversation? And let's just say half of them say yes right now immediately. You now have 150 Medicare clients right now. The beautiful part about this, and this is like when I say you have to grind in the beginning and then eventually it gets a lot easier. This is what I mean. When you have all these clients and you have all these reach outs and you're getting all these referrals and these upsells and it's not nearly as hard and then you start tacking on like Medicare and you're selling other things to your existing clients and you start getting renewals. Our CSM right now, right? If you guys work with Adam, ask him about it. Ask him about how great health insurance is right now. Do you want to sell health insurance on the front end? Probably not because it's hard to cash flow, but on the back end it's killer, right? Adam makes. I don't know if he's comfortable with me saying this, but I'm just going to say it anyway because I'm proud of him. Adam makes like 5k a month without doing anything just from his health insurance. And he feels he's only been doing this for a couple years. If he did it the way that I'm talking about right here where his life insurance clients, where he's selling life insurance on the front end and then just cross selling health insurance on the back end probably have more, more than 5k a month coming in. And health insurance renewals. Like imagine you do this, you get these 150 clients and all of a sudden, let's just say for the sake of example, let's say you have 8k a month in renewals before you even roll out of bed. And then you go and you're hitting all these cross sells and let's say you're selling like you know, 20k a month.

Just from these cross sells. Not $20 a month, 20k a month. And again, if you're selling to existing clients, there's no lead cost so you're banking 28k a month before you even start calling your leads, right? And now at this point, you don't need to spend nearly as much money on ads and on leads to get more clients. And like, I want you to keep running ads because that's how I make money. But I'm just going to tell you this because this is the best way to get rich. Now you're making 28k a month.

And then let's say you go and you write an additional, let's say you, you know, just on, on new, new clients, new business. Let's say you write like 15k month, right? You're taking it pretty, pretty easy, pretty casual.

Now at this point, this is 43k per month.

A lot of that's renewals and a lot of that's just talking to people that already know like, and trust you guys. I'm telling you, I know people that do this personally. This is the game, right? This is the renewal game. Advanced market game is a little bit different and the teacher game is obviously a little bit different. But these are the three games, right? And so like when you're in the sucky part now, right, when you're making calls to leads and you're getting like a 3% answer rate or 2% answer rate and you're like, there's no way I can do this for the next 20 years. I get it. Of course not. But that's not the game, right? That's not the game. If that's the game you're playing, you're always going to lose. You have to play one of these three games and think about it. Pick what game you want to play and freaking play it, right? And this is a long term game. This is a long term play. If you're a teacher, you got to figure out how to sell and crush it for yourself and then you got to bring other people on that want to do it and then you train them and teach them how to do it and you make overrides. If you want to do the advanced markets, hit, hit it hard on the phones now so you can cash flow, pay all your bills and then start studying, right? Like I got a bunch of bookshelves or books on my bookshelf right there about Iuls and about annuities and about like learning how to help people plan for retirement and tax.

Avoiding taxes and all these different things. Like I'm studying that. But in the meantime you can't just like stop working and start studying because you got to pay your bills in the meantime. And these deals take longer to make the to to shake out. So you gotta like have something in the meantime while you're learning that. And if, if you're playing the renewal game, get to 300 clients as fast as freaking possible and then add on Medicare and add on other products and then start like, learn to master referrals. That's the whole game. And so like you have to dig the hole first before you can swim in the pool, right? You have to dig the hole first before you can swim in the pool. So like remember the game you're playing and understand if you can go through the short term sacrifice of banging the phones and doing telesales for these simple products.

You can eventually get to this point, right? But you're not going to get there. If you get in, have one bad week and quit, you're not going to get there. If you, you know, start calling and you start selling final expense and you get your first charge back and you quit, it's not going to happen. Like you, you just won't get there. But you have to, have to have to see the long term play and stick it out and know the game you're playing. So hopefully this video was valuable. Hopefully this gave you a perspective shift and hopefully this invigorates you to go freaking crush it. Like sacrifice the next two years, Sacrifice the next year and a half. And if you do that and you follow one of these three paths, I guarantee you your entire life will change.