Talk about small sample size.
FCGS and Lincoln Heritage
- Thread starter MedicareMutt
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- lincoln heritage
Talk about small sample size.
- 489
I like the fcgs. They have helped many of my clients since they were started. Every death claim I have had since they started my clients have used. They help them talk to the funeral home. They offer grievance counseling that quite a few of my clients have taken advantage of. They will help the clients get death certificates and contact social security on the deceased behalf. They will also help your clients file claims with any other life insurance companies they may have policies with. They pretty much do what the agent can do themself if they are up to the task. Most are not.
Lincoln heritage paid 180 million in claims last year. Out of all the claims paid out to my agency’s clients only one contestable claim was not paid this year so far. I can get non contestable claims paid the same day a client tells me someone died. All it takes a phone call from me. Contestable claims I have to have a death certificate first.
Everyone on this forum talks about how they love to replace business from Lincoln heritage but my personal persistency is 90 percent and has been for over 15 years. My agency writes 800 policies for them every month and my groups retention is 85 percent and has been for over a decade.
As far as paying claims every company is not the same. I have helped many clients over the years file claims with nearly every carrier out there. Their requirements as well as the availability of their staff and willingness to help clients get their money vary significantly.
Out of all the carriers I’d say am am and Lincoln are the easiest to get a claim paid (without being an appointed agent) . AMAM has a company called Everest that helps out a lot through the planning and funding process of the funeral. I think it’s better than fcgs. All it takes is one phone call to Everest and they will get that claim paid same day without a death certificate for AmAm if the client was a member. They are super friendly and do everything the fcgs does but they’re much bigger and have more staff.
In my experience trans is the hardest. You can’t even get someone on the phone most of the time. I’ve had trouble with SL also.
Out of all the claims I have had paid I have never once had a client upset that they could have saved a few bucks a month with cheaper coverage.
Lincoln heritage has well over a million current policy holders with billions of in force coverage.
As far as how much coverage is issued, how much premium is collected, how much in claims are paid as well as commissions. It’s all public record. If anyone really cares there is no need to ask the companies you can check yourself. If you have enough time to post daily on this forum you have enough time to figure out how to check.
Lincoln heritage paid 180 million in claims last year. Out of all the claims paid out to my agency’s clients only one contestable claim was not paid this year so far. I can get non contestable claims paid the same day a client tells me someone died. All it takes a phone call from me. Contestable claims I have to have a death certificate first.
Everyone on this forum talks about how they love to replace business from Lincoln heritage but my personal persistency is 90 percent and has been for over 15 years. My agency writes 800 policies for them every month and my groups retention is 85 percent and has been for over a decade.
As far as paying claims every company is not the same. I have helped many clients over the years file claims with nearly every carrier out there. Their requirements as well as the availability of their staff and willingness to help clients get their money vary significantly.
Out of all the carriers I’d say am am and Lincoln are the easiest to get a claim paid (without being an appointed agent) . AMAM has a company called Everest that helps out a lot through the planning and funding process of the funeral. I think it’s better than fcgs. All it takes is one phone call to Everest and they will get that claim paid same day without a death certificate for AmAm if the client was a member. They are super friendly and do everything the fcgs does but they’re much bigger and have more staff.
In my experience trans is the hardest. You can’t even get someone on the phone most of the time. I’ve had trouble with SL also.
Out of all the claims I have had paid I have never once had a client upset that they could have saved a few bucks a month with cheaper coverage.
Lincoln heritage has well over a million current policy holders with billions of in force coverage.
As far as how much coverage is issued, how much premium is collected, how much in claims are paid as well as commissions. It’s all public record. If anyone really cares there is no need to ask the companies you can check yourself. If you have enough time to post daily on this forum you have enough time to figure out how to check.
- 489
In 18 years of selling I’ve never had the “price” question. I explain the product. Give them the rates and fill out the application. That’s pretty much how my entire sales process works every time.
In some cases LH is only a few dollars more expensive. In most cases, LH is far more expensive.
As far as paying claims, I'm sure folks won't mind waiting a few days longer, if it means they get thousands more from a better priced company. I know LH claims to pay quicker than other companies, but I mostly deal with two companies that are quick with processing death claims -- Trinity and KSKJ.
With all due respect, I doubt they even knew they could have had something different and cheaper.
I'll bet they never knew that they could have had thousands more paid to them if they used a different company. I'll even be willing to bet that if you told the beneficiaries that, they WOULD have a problem.
Sure you can!
- 489
99 percent of the people I’ve insured over the years have had no insurance. Every single one of them were happy to have insurance. So many people have nothing. That’s the whole point of what we do.
No one has problems if they have insurance. I’m a firm believer in having life insurance. Any life insurance.
