Aflack

[Newby]

I've definitely had FE cases where I showed them the rates for XYZ brand and a higher priced brand that was a household name and they definitely chose the household name. I think the more affluent they are the more they are familiar brand loyal. The less affluent they are they more they are totally price focused.
This thread reminded me of this Brian Regan bit. But I doubt any of us ever bought the cheapest refrigerator in the store. Still funny though.

 

[jdeasy]

We can all agree to disagree . I agree with baseball . I never sold on to be the cheapest. I ran a $10 k age 65 male . Kskj $44 ish . There gone now . Lifeshield and slac in the $48 area . Not sellable unless in great health so hardly sellable .Really after kskj next sellable is Trinity at $53.75. But as I recall they dont allow replacing in Kentucky so can't use on many . Trans at $53.97 and next Aflac at $55.81 So if I write Aflac or Moo at $56 ish you got little to replace me with even on price . On Aflac or moo I'm pushing the name . With your dog food analogy your buying the exact same dog food from the manufacturer. Yes these are both whole life but I'm selling the potential difference in paying claims especially first 2 yrs and security of big name company . Yes when you had kskj at 20% cheaper could get some to switch . Now game different . Few switching for $2-$3 a month and that's if you replace in first yr . If you run into policy in the 2nd yr your no cheaper now anyway.

That's a straw man argument that has nothing to do with price. It's just more spin. And if you selling by telling people that a company won't pay claims you are in violation of insurance laws in every state. I've been an independent agent for 20 years. My replacement percentage has been the same for my carrer. I only had KSKJ for 8 of those. Trinity FU does allow replacements here. I wrote one yesterday.

But you do you, you count your money and I'll do me and I'll count my money.

 

[jdeasy]

I've definitely had FE cases where I showed them the rates for XYZ brand and a higher priced brand that was a household name and they definitely chose the household name. I think the more affluent they are the more they are familiar brand loyal. The less affluent they are they more they are totally price focused.
This thread reminded me of this Brian Regan bit. But I doubt any of us ever bought the cheapest refrigerator in the store. Still funny though.

Just a dumb argument. Yes, some fools will adhere to a brand until they are educated. If they can't be educated then they should just pay more.

The refrigerators are not the same. But you can't talk to people that listen to Joe Rogan anyway.

Bottom line, if you pay too much you don't get more, you just paid too much.

 

[rousemark]

You have a Chevy and a Ford side by side. They are equipped identically. The Ford is $1000 less. Some people are going to buy the Chevy no matter what. Others will choose the Ford even if the Chevy was priced $1000 less. There are times when brand trumps price.

 

[DonP]

That's a straw man argument that has nothing to do with price. It's just more spin. And if you selling by telling people that a company won't pay claims you are in violation of insurance laws in every state. I've been an independent agent for 20 years. My replacement percentage has been the same for my carrer. I only had KSKJ for 8 of those. Trinity FU does allow replacements here. I wrote one yesterday.

But you do you, you count your money and I'll do me and I'll count my money.

Im not saying xyz won't pay the claims . I'm saying don't you want this big carrier in your corner . But again on most of your clients going forward most carriers you'll sell will be near same price . So replacement will be tougher

 

[rousemark]

If price is the only consideration how do some of the higher priced companies sell and maintain high volumes of business? I was speaking with an LH agent not long ago. He writes right at $90k per year. Told me his persistency was 88%. Said very little of the business that dropped off was due to replacement.

 

[Baseball7]

That's why from my experience and stories like that I think ethical replacements are really small in the large sample size of fe sales.

 

[jdeasy]

You have a Chevy and a Ford side by side. They are equipped identically. The Ford is $1000 less. Some people are going to buy the Chevy no matter what. Others will choose the Ford even if the Chevy was priced $1000 less. There are times when brand trumps price.

Right. But on what planet are Fords and Chevys the same?

 

[jdeasy]

If price is the only consideration how do some of the higher priced companies sell and maintain high volumes of business? I was speaking with an LH agent not long ago. He writes right at $90k per year. Told me his persistency was 88%. Said very little of the business that dropped off was due to replacement.

Because those consumers haven't been educated yet.

 

[jdeasy]

Im not saying xyz won't pay the claims . I'm saying don't you want this big carrier in your corner . But again on most of your clients going forward most carriers you'll sell will be near same price . So replacement will be tougher

Maybe? More on underwriting than price. I currently do not have a KSKJ that takes isosorbide or nitro at a decent price. Or a COPD smoker with a nitro Rx.

But no one else here has that either. I will still offer the best rates that their health qualifies them for. Same thing I've done for 20 years. I did just lose a very valuable tool.

If PFA ever gets here then it's back to business as usual. Or I can drive 38 miles north and sell PFA now.