- 25,900
Works for me.
Anyone Hear of Lincoln Heritage Life?
- Thread starter Mattbell9
- Start date
Works for me.
- 4,797
You are correct. Anyone who has any common sense can see this. The agents who are affected NEGATIVELY by this advice are the ones who are squawking.
- 25,900
I am not in the LH argument. I do not write them.
But, that advice is how I do my business.
- 15,041
Everyone does use the same mortality tables. But there is a lot more than just mortality that goes into pricing life insurance. A biggie is underwriting. The looser the underwriting is, the higher the premium has to be to stay actuarially sound.
I don't know enough about LH to comment on them, but there is often a reason when a company charges more than others, and profit usually isn't it.
- 4,797
WELL SAID!
B
Briefcaseboy
Guest
If LH has liberal underwriting, it would add an arrow in your quiver to use for those with health issues, I know if you don't sell a minimum number of policies, they will pull the plug on you. I don't know what the minimum is.
- 15,041
Of course, for a more standard risk, you are doing the person a disservice to put them with a loose underwriting carrier. They don't need the easier underwriting, so why make them pay for it?
- 4,797
At least one app per 30 days, but even that little production can be extended. Usually depends on your mgr. Make sure you are under a good upline. Ask your upline this question.
- 17,038
If you are serious about selling FE you carry several companies and put people on the one that will offer them the best price for their own health.
American Memorial for instance has much higher rates than most for a 70 year old BUT is the only company that I can cover a man with level benefit if he just had a heart stent put in last month. For him it's a good deal.
If I put everyone I meet with them...not so good for the consumer. If the monthly payment is within $5 I just give the client a choice and sometimes people like the slightly higher one than the lowest because of name recognition or policy features. When you get more than $5 difference, people are just getting taken advantage of because SOMEONE (the agent or the upline) just wants more commission or free leads which is the same as more commission.
American Memorial for instance has much higher rates than most for a 70 year old BUT is the only company that I can cover a man with level benefit if he just had a heart stent put in last month. For him it's a good deal.
If I put everyone I meet with them...not so good for the consumer. If the monthly payment is within $5 I just give the client a choice and sometimes people like the slightly higher one than the lowest because of name recognition or policy features. When you get more than $5 difference, people are just getting taken advantage of because SOMEONE (the agent or the upline) just wants more commission or free leads which is the same as more commission.
- 19,486
I've never been affectived negatively by that "advice" and I still call BS on it.
I would for you try that stuff with people I'm meeting with. I have used it though when replacing the high priced junk that's out there. I ask them if the person that sold it to them said to stop sending in reply cards. The ones that say that they were that I ask them if they know why they were told that that, they nod their head and say sheepishly, "we do now".
Scam artist are always afriad of somebody coming in behind them to expose their dealings.
I don't care who goes behind me because they can't put them in a better deal that what I did. I talked to a LH agent two weeks ago and told him that I had been working his area. He said, "I know, I've been in there behind you and I can't touch your work". He wanted to know if I would contract him under me so that he could offer people good service.
You can talk the talk all you want, but if you can't walk the walk you will have to keep recruiting newbies and hold on to them long enough to keep their money after they wash out.
