Why I Quit Selling Life Insurance (Scam Exposed)

For everyone else, I make money selling life insurance. I make this free content in the hopes that you use it to improve your sales skills enough to partner with us.

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[obrienortega]

A lot of these Life Insurance companies are run by MLM's, PHP, WFG, Primerica, etc. These companies go based on recruiting. They sell overpriced Life Insurance.

[tcruz]

Hi Peter, great video. Not anyone mentioned this previously but you need to change the title of the columns labeled as total 30 day. I believe your formulas are capturing weekly run rate vs expenses. You can then take that average to run the numbers for a 30 day timeframe. Keep it up.

[jarvismobley]

I have been an agent since 2005. I had an agency at one point. Be careful with your recruiting because that is not going to save you from chargebacks! If they write bad business the insurance companies come for you first and what you made on those overrides. Then they put you on the hook if the agents walk away and don’t pay. I like your post and I respect the fact you told the truth after showing all these success videos

[AlexShier]

The problem here was clearly lead cost. If I take 20 leads a week at 55$ I’m only spending 1, 100 a week on leads, writing 6k minimum in ALP. You are also not factoring in referrals. For every 10 sales you should have at least 1-2 sales from a referral which will bring your cost down exponentially. This is a long game. Referrals was a source of income for my father for 23 years because of all of his hard work. I think this business is so rewarding if you hang in there. Thanks for everything you put out Peter. Cheers!

[undercovernewsnetwork]

Love your honesty !!!! Thank you. For the transperency. Your giving knowledge and the laws of reciprocity will return the favor.

[LifeWithAdi_]

Totally get your point. I’m with FFL, and I love it. And I have only put in maybe $200-300 of leads. I don’t have a CRM, I don’t have a dialer, no real expenses yet. However, I do my own marketing. 😊 I don’t rely solely on the leads I buy. When you want to make a business work, you’ll find a way. 🔥

[johnmarchetti]

Hey peter, can you upload content on how to start your own agency?

Also how do you create your own agency?

[dantebarinas]

Thanks for the transparency! I’m barely starting and your videos have helped me tremendously.

[matthewmesa]

You are a real human being. Much love brother. ✊🏽

[bash]

what's states would you recommend to get licensed in for obtaining leads?

[bmase]

What's the commission rate for your agents?

[MartinezEdwin]

I wanted to get my life insurance license but idk if it’s a good idea

[SocialHub]

This is why I love you Peter you always tell the truth and tell it how it is! Thank you for sharing this info!

[_SevenKay]

How you ALMOST quit?!? why your title say you QUIT and not ALMOST?!?

[redcronojm]

I was thought to bring in family and friends for zoom meeting with senior brokers, i was about to get lucky until they changed their mind. Now i have to recruit new agents to get into their market split commissions etc. I havent made anything Peter, i only became a client because how can you work at footlocker with no shoes(their analogy).

[Jtran]

You should be writing way more AP than 6k from $2250 in leads. I don't write FE but the number seems off compared to MP.

[DiabloPollo]

FFL agent here, all good points and content here Peter. I structure my account/draws as a monthly draw. 10% of what is in my account is "mine". Chargebacks are going to happen, but this makes sure im never in debt to a carrier.

[primeoptmmm]

It is unfortunate. Final expense should not be sold by 30 + life insurance companies. No one should make a penny unless they sell the policy and service the client. God forbid there be a business that's not a racket

[aplexic]

Hey, love the video. I would just change the Chargeback rate to Retention rate so that it makes a little more sense! Thanks :)

[I-A-M]

I know you didn’t love my program because it was a lot of work and time. I’m not sure if you ever got a chance to go through all of the videos, but this is exactly what I talk about and the whole reason I teach agents to niche down and create their own blue oceans. It can allow you solve clients problems with policies that pay way higher to you (upwards of 2k-5k + depending on niche and problem you’re solving) and puts clients in the best spot, and when you do that it fixes bad persistency because you aren’t even in the same ball park as all other agents, no one can compete.

Also for agents that do only focus on final expense or simplified issue MP, there are many places you can go and get a 120 contract with no proof of production, so getting a higher contract can help with profit as well too.

You’re 100% right the model is broken, it’s been broken for a long time. Good video!