Assurance/Lumico Experience?

[azsalezman]

Absolutely love it. The best opportunity I have ever had or know of. Been there well over a year and selling insurance for almost 10. When I started it was outbound only and now we are warm transfer/inbound only. I liked both, inbound much easier. I would say if you can sell, this is the place for you. If you can not, probably not. The volume is insane. I and others consistently do more apps than hours in the week. The sad thing is that I see people who don't put in the time at all or quit before the learning curve which is days for some or months for some. The management is really good, as with any growing company there are always changes and challenges but they are making it work and let us keep producing. I have never seen a company that has grown and improved and innovated so fast. There just is not a better set up out there. For people complaining about lead quality, have you been successful anywhere? Top agents used to sell out of the phone book and you are complaining about leads where the person has entered all of their info online and is warm transferred to you? Even outbound dialing wasn't bad. The sales person's job is to take a lead (a name and number of a possibly interested person) and turn them into a customer. If you can't do that, move to customer service, and that is ok.

 

[garzawin]

Would you choose Assurance/Lumico or North Star Insurance Advisors?

 

[JRoot]

Well, they were just acquired for $2.3 BILLION by Prudential: https://www.businesswire.com/news/home/20190905005449/en/Prudential-Financial-acquire-Assurance-IQ-leading-consumer

It's a legit platform for someone not interested in building their own business and just wants to crank away at calls. If you can put your head down and make the calls - you can make some great money if you qualify for their top tier.

Plus they're onboarding other companies right now - so it won't be all Lumico soon.

 

[avibenhutta]

Hi everyone,

I work for Coverager and I'm writing a piece about Assurance and I'm happy to talk to people that deal/dealt with the company to learn more about their operations now that they got acquired for $2.35 billion.

 

[Jay Khatter]

Horrible company I worked at Assurance all last year and trust me your wasting your time.

Low commissions on 22.5% and goes up to 30% after you submit 20 applications but still a horrible payout with no residual. Commissions are so low retention is horrible because there is no incentive to keep the customer just move on the next application. High chargeback rate and lots of debt.

Horrible marketing people calling about free Walmart gift cards and wanting $250k coverage for $15 a month when they are 70 years old which is impossible.

Lumico is a horrible company probably one of the worst insurance companies they fail to draft premiums on accounts and want the customer to call in to draft a payment when the date was clearly put on the application. Horrible underwriting lots of declined applications, lack of payment, lots of cancellations. Customer service is extremely rude and not helpful they always say I don't know and have no solution to any problems whatsoever.

The worst is the tier system which penalizes agents when they don't work! Last year I had a trip planned to Costa Rica with my family and I was gone 10 days and when I came back I was tier 6 and was not getting calls for a whole month. They penalize you when you don't work and feed you less leads or garbage leads.

This company should be sued by every one and they are a perfect example of every thing wrong with the life insurance industry. Predatory and scammers everything imaginable.

 

[HAMPnet]

I wrote for Assurance for 6 months in 2018. Got to pick the daily Warm-up song many days (If you wrote the most apps in a day in The Nation, you got to call the shot).

I have been in Oil & Gas for 18 months and that got Corona-ed. A manager called me and wanted me to jump back on their system. "Errr, No, But Thanks For Asking'..."

 

[Rena2020]

I have been working with Lumico, Assurance for about 2 months. I choose this because I like the freedom, no cost for leads, no cost for platform, no crap about recruiting. Do I get paid less? Yes, I know that. Could I get more money on my own, yes. But I like the freedom, no quotas, jump on when I can, I work about 20 hours a week, I sell average 4 to 5 policies a week so far. I am ok with this. Sometimes, freedom, no quotas, no paying for platforms, or leads works for some people, I am one of those. I find my support staff amazing. He is always there for me, answering questions, and so far spent a lot of time with me helping me learn. So for me it works, so please don't judge. I get it, I could be making a ton more money. But this works for ME. And as far as Lumico, I have never had a single rude person there. And for the calls, it is a crap shoot. But what isn't ?

 

[Northeast Agent]

Rena2020?

Have the chargebacks starting hitting yet? Are you writing enough to stay ahead of them?

 

[Rena2020]

Rena2020?

Have the chargebacks starting hitting yet? Are you writing enough to stay ahead of them?

No not yet, and if it does happen, they just hold back any new commissions, but so far so good

 

[Ronney Gomez]

Does anyone know if Lumico will turn down an agent with a vector hit in repayment? I’m trying to get appointed with them through Assurance