DM VsTM

[Thedude]

Are we still talking about Columbian?

Maybe I'm out of date and they have better prices now than they did. But I can't remember running across hardly any Columbian policies that were not easily replacable. And you didn't have to be a so called "replacement artist" to do it.

My mindset was on replacements was that if I would ever be uncomfortable explaining the case to a state insurance commissioner then you don't want to replace it. Makes it easy to sleep at night. They have to be clean cases.

But I'm telling you on Columbian the policies I replaced were more often on "mistakes" on the underwriting than anything else. They most often didn't qualify for what they had. And most commonly it was smoking. In Kentucky 90% if the low income population smokes.

Yes they had to go along with the fraud when they did the interview. But when you explain how things work and how they should get the best policy that they truely qualify for, most would agree.

I find that most people follow the agent's lead. If you set the mood of the appointment as one where you expect them to be truthful they will be truthful.

If I reveiewed the Columbian policy and it was clean on underwriting the next step is to see if you can beat the price. That was easy in most cases. Maybe in Florida since you have limited companies it might not be as easy. If I lived in a state where Columbian was the most competitive product I believe I would move to a different state though.

If all else fails and underwriting is clean and price can't be improved by much, you just move on to your next one. Unless they just wanted additional coverage.

Everybody has leads that you just have to walk away with no sale. Just part of the biz. And the sad part is even though you've confirmed for the person that they have a good deal and they won't be able to find anything for less there still going to send that same card in the next time you mail them. Just the nature of the serial responders.

Why not just pick up Columbian instead of moving states? Lol

 

[billyb]

But you are doing what's right for the client by walking from putting them in a better deal just because you happen to write the bad deal they are in?

Is that what you are saying?

I don't think Columbian is a bad deal. They are very competitive especially if you add ADB.

 

[jdeasy]

I don't think Columbian is a bad deal. They are very competitive especially if you add ADB.

Changing the narrative now? Isn't that special??

 

[rousemark]

I don't think Columbian is a bad deal. They are very competitive especially if you add ADB.

65 F NTU, 10k with 10k ADB = $43.16 TU = $58.83

Not the cheapest but there are certainly many "name brand" carreirs that are higher..

Without the ADB, they are 16th on FEXquotes for the NTU and and they are within $1.00 of all but 6 of those that have a lower premium.

 

[Newby]

Why not just pick up Columbian instead of moving states? Lol

Colombian has always been replacement bait just like Lincoln Heritage and Old American. Those are probably my three favorites to come behind. So no you don't want to sell them. If people that have them are still shopping you want to be unrestricted to help them find a better deal.

 

[BoJax]

Colombian has always been replacement bait just like Lincoln Heritage and Old American. Those are probably my three favorites to come behind. So no you don't want to sell them. If people that have them are still shopping you want to be unrestricted to help them find a better deal.

I assume you run dm leads, what % of your sales would you say you replace coverage vs. adding more coverage?

 

[hockeyday]

I used to do nothing but tm leads. Most of the time back then I qualified over the phone. In those days it was possible to schedule 9 to ten appointments and write 7 or 8 on a good week. It got to the point where it became harder and harder to get them to answer the phone.

When I switched to Dm, about a year and a half ago, I just conceded the fact that to make the most money I needed to schedule as many as possible and take the good with the bad. I admit some weeks you get on a run of a lot of leads that just waste your time, but overall I think I do write more business that way.

In this business, at my age, its about making enough money to do what I want and need to do. If I thought I could do that by qualifying over the hone, that is what I would do. Nothing wrong with cherry picking if your able to make ends meet.

----------

Football did you have a big week again out in the creek?

 

[Newby]

Colombian has always been replacement bait just like Lincoln Heritage and Old American. Those are probably my three favorites to come behind. So no you don't want to sell them. If people that have them are still shopping you want to be unrestricted to help them find a better deal.

I never keep stats I just ran appointments and took each case as it was. Nowadays I'm not running leads. Just maintaining my base and running the agency keeps me busy.

But when running lead cards I would say it has to be around 35 to 40 % are replacing something. The majority are people who bought completely wrong coverages like term for permenant needs, GI when they are perfectly healthy, etc.
the cases where they bought whole-life but you can just easily give them several thousand more for the same price are fewer but nice when you find them. Others had good coverage but just lapsed and can't catch up the back payments to reinstate so they buy a new policy. I had one of those call my office this week.

There are a lot of right reasons for replacements. Agents who do it for the wrong reasons don't last long in the biz. But I've seen them do damage for a few years.

 

[Thedude]

Colombian has always been replacement bait just like Lincoln Heritage and Old American. Those are probably my three favorites to come behind. So no you don't want to sell them. If people that have them are still shopping you want to be unrestricted to help them find a better deal.

I'm not sure you understood my point. Nevermind.