Principal, Hancock, Banner, SBLI, and a ton of other companies also offer non-med at their fully underwritten rates.
Anyone Deal with Lifetel Web or Lifetelinsure.com?
- Thread starter jman78753
- Start date
Uh oh! I sure hope you're not referring to that Fidelity product. What is it they call it? Myself, I like to call it the "lapse central" product. If you're selling or recommending that product in particular, it's confirmed that you're completely out of your tree. That's REALLY doing wrong by the client who thinks they have a real, full coverage policy when it's really a blend of mostly accident coverage. Even the best, most detail oriented agent has a tough time keeping that garbage inforce. That has to be the highest lapse product ever designed. By the way, the Phoenix rates look pretty good in comparison to United of Omaha. Everybody knows the Phoenix rating and the other guy already said he wished it was higher. And whoever is talking about Hancock for non med, again, give me a break.
I know a lot of people on this forum but I don't know Aclaro from a hole in the wall.
However, he/she has a lot of posts displaying knowledge and I would be shocked if that post was related to Fidelity or anything accident related.
And yes...although it is not as strong as SBLI or even LGA'S non med programs...Hancock has one as well.
I absolutely know without question that I haven't been on this forum as long as either of you. However, even in the fairly limited amount of time I've had to browse, I've noticed aclaro posting on multiple threads and it's often a very provocative post made that seems completely unwarranted. In this case, trying to call out another poster as basically a commission whore, because he or she made mention to writing a product extremely heavily promoted that several groups have gotten behind and agents all across the country are selling every day. To me, that's just really, really uncool. Just right here alone, I guess someone should tell the forum that they'd better pull all of the advertising and mention of the product, because according to aclaro, to promote or sell it is doing a disservice to the client. Not okay!
Mikey...I Didn't call the agent anything. I said that the most highly promoted products usually pay the most comp to those that promote them. I'm sure the agent doesn't have exposure to a lot of other products or might not even have access to other companies.
He/she needs to realize that just because something is pushed by an IMO doesn't make it a great product. Everytime I've run multiple SI quotes I've never once had Phoenix come up at the top. I admit it's not my marketplace so I'm running those for other agents.
Also, last week I got a Principal policy with no blood no urine for $1 million issued the next day. I'll guarantee that was significantly cheaper than any SI policy but the guy was super preferred.
I see too many agents overuse SI policies because it's easier and they get paid quickly. Is it the best for the client?
He/she needs to realize that just because something is pushed by an IMO doesn't make it a great product. Everytime I've run multiple SI quotes I've never once had Phoenix come up at the top. I admit it's not my marketplace so I'm running those for other agents.
Also, last week I got a Principal policy with no blood no urine for $1 million issued the next day. I'll guarantee that was significantly cheaper than any SI policy but the guy was super preferred.
I see too many agents overuse SI policies because it's easier and they get paid quickly. Is it the best for the client?
Washingtongal
New Member
- 1
So happy to see it is working as been scammed before.....would love to talk to you before I jump in tomorrow.....
Thanks mikeyv! That's exactly what aclaro tried to call me. He even tried to mock the way I referred to my upline. I guess he must prefer the term "Master General Agency". Maybe, I should just stick with "upline". It's probably safer. As it happens, I get paid within 5 points on all of my contracts with my upline. I also happen to be contracted with practically all of the non med companies. I've got Foresters, Fidelity, Phoenix, Assurity, United of Omaha, United Home Life and on and on. I like the Phoenix product, they're issuing, paying on time and they're treating me well. I get it that fully underwritten products can potentially yield an overall better rate some times, assuming someone can qualify, but I've also found that many customers don't want to jump through all of those hoops and possibly have to wait 4-6 weeks to get a policy issued. I'm not certain that's always doing the best thing for a customer either. Why is it people on this forum want to jump in and belittle and insult you if you don't share their same philosophy when working with a customer? What a dick move. You know what they say "you're entitled to give your 2 cents, unless it's just non-sense". And I want to know what product this is with Principal he's talking about. Really, $1mil of coverage with no blood or urine issued in one day, huh? Please provide the name of this unicorn product. That certainly does sound pretty darn remarkable and frankly unbelievable. I want to check this one out for myself.
From what you're writing there, can I assume you show your clients the price and explain the difference between SI and FU? And then multiple companies and they decide on Phoenix?
The Principal "unicorn" is their regular term policy. Teleapp with the phone interview completed at the same time. 1 million, no blood, no urine. It's called their accelerated underwriting program. Do you want to compare prices? PM me your email and I'll get you the info on Principal.
The Principal "unicorn" is their regular term policy. Teleapp with the phone interview completed at the same time. 1 million, no blood, no urine. It's called their accelerated underwriting program. Do you want to compare prices? PM me your email and I'll get you the info on Principal.
Yes aclaro. That's exactly what I do. But I also tell them and highlight the fact that most people aren't super preferred, or even class 2 preferred for that matter, and although those rates might look really good on the computer screen there's no guarantee they'll qualify. I try to field underwrite and quote as accurately as possible, but there's always the unknown of an exam. I do of course sell the speed and convenience of not having to do an exam, or more detailed underwriting, and as a result I'm able to put many clients through non med. At the end of the day though, yes, I leave that decision mostly up to the client.
Regarding Principal, I'm extremely loyal to my upline and the fact that we have them in our portfolio means that if I do check it out and try to do something with it, my business belongs to them. Understanding this, I would not ask you to send me the information, as I'll get it on my own. Trying not to put this dialogue back on to points, but I have very good contracts with my upline and I'm sure you know that Principal is certainly not the best paying company, by any means. With my bonus, it's better, but the base points are really low. You may not see it this way, but as an agent I have expenses and mouths to feed and I have to make a living, as I'm not in this business for nothing. I'm just not sure you and the wholesalers are always fully connected with exactly what we need to have happen at our level as agents. I'll admit, it's some times a struggle to balance what's good for my client and what also keeps the lights on for me as well, but try not to attempt to shame me or any other producer because we're pounding the phones every day trying to pay the mortgage.
Regarding Principal, I'm extremely loyal to my upline and the fact that we have them in our portfolio means that if I do check it out and try to do something with it, my business belongs to them. Understanding this, I would not ask you to send me the information, as I'll get it on my own. Trying not to put this dialogue back on to points, but I have very good contracts with my upline and I'm sure you know that Principal is certainly not the best paying company, by any means. With my bonus, it's better, but the base points are really low. You may not see it this way, but as an agent I have expenses and mouths to feed and I have to make a living, as I'm not in this business for nothing. I'm just not sure you and the wholesalers are always fully connected with exactly what we need to have happen at our level as agents. I'll admit, it's some times a struggle to balance what's good for my client and what also keeps the lights on for me as well, but try not to attempt to shame me or any other producer because we're pounding the phones every day trying to pay the mortgage.
