NOT HIGHEST COMPENSATION:
Do not believe the hype that this is the highest paying comp of any organization. If you have an upline and they have an upline and that upline has an upline, well guess what?...each upline gets a 5% cut of what you make so you're not coming in at the highest level of comp and it will require you working non-stop to generate $40K each month to level up to the next comp level. I don't know what the current starting comp is, but two years ago it was starting at 100%. Then a mass exodus of agents left and they tried recruiting them at 110% - 120% comp, which is still not that high.
EXISTING CLIENT LEADS:
If you leave the company, your clients will become leads. Yes, this has happened to me! My clients have received text messages and phone calls from agents within the organization claiming they are their servicing agent to try to set up an annual review. This is beyond unethical to present yourself as the servicing agent, when they are not, and imagine the detriment this can cause someone if they have to start their incontestability period all over again...even if they have already been in the policy for 1 year, 1 year and 5 months, 1 year and 11 months, 2 plus years!!! This in itself is enough to give pause and reconsider working with this IMO.
RECYCLED LEADS:
What are recycled leads? Well, in addition to the Existing Client Leads, there are recycled leads - leads that have not been converted into clients yet so therefore are tossed back into the pool of leads and resold again to another unsuspecting agent - thus FFL is double-dipping, triple-dipping, quadruple-dipping, you get the idea... on the same lead over and over again. Thus when you call these leads, they are stick and tired of being hounded by agents because they have been called over and over and over and over multiple times - no wonder insurance agents get a bad rep.
FFL INTERNET LEADS:
Be wary of the leads being offered by the firm. Internally these are called Internet Leads which is marketed as individuals expressing interest in insurance but when you call them, they will explain that they did not solicit for insurance information. Many of them where trying to level up on a game, but in order to do so, they had to supply their information in order to gain lives to level up or thought they were entering a drawing to win a microwave, or some other appliance and did not read the fine print which indicates that the information they provide may be shared with party marketing organizations - thus the "lead" you purchased are incredibly low interest. You may book one or two appointments out of 50 that you buy, and are lucky if you sell a policy to one, and even more lucky if they have enough money to keep making the payments before you have a chargeback
FINAL EXPENSE LEADS:
Also be leary of final expense leads. The marketing on these leads to unsuspecting seniors are highly misleading. They indicate that these legislation has been passed by Congress which changes your benefits .... "new government changes and benefits for seniors" - they are very confusing thus leading seniors to believe they are getting something for free.
LEAD QUALITY:
You will constantly be on the phone dialing and dialing all day long, getting rejected 100, 200, 300 times before you are able to book 1-5 appointments for the day. Be vary cautious of the type of leads you buy. Cheap leads means you will have to spend more time and effort calling them, and even then there is no guarantee these prospects will show up for you on the day of the appointment.
OTHER LEAD SOURCES:
When you discover other lead vendors and post it on their facebook forum or other means of discussion group about said vendor, you will get a lot of lashback. Internal people will discourage you from purchasing outside of supposedly "unvetted" lead vendors. Why? Because they want you to buy internally from their own leads - this keeps the money internally, you see.
CHARGEBACKS:
Chargebacks, aka, are commissions you need to refund if a policyholder lapses their policy within the first year of having the policy. You as the agent, will be required to pay back the 9 months advanced commission that was paid upfront and/or the 12 months upfront commission. Generally it will be deducted against any new commissions earned but if you don't have any new policies sold then that commissions will be held against you until it is paid off. If not paid off timely, you will receive a vector one report indicating your delinquency with that carrier and/or the carrier may charge your upline for the commissions and that upline may file suit against you for not paying off your commissions.
I am speaking entirely from my experience with this company. Please also do your diligence and vet Family First Life. Good luck to you, and personally for me, I am a thousand times grateful I left!!!!!!!!
