FE Over Phone Top Producers

[Tom Highway]

I haven't gotten a message or email from you in quite some time. Maybe 3 months or more.
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You're gonna save them quite a bit more than $5 to $10 month. But, even if you don't, people will change quite easily for $10/mo savings on the same coverage.

On a $50/mo policy, that's a 20% savings. Who in their right mind wouldn't save 20% on the exact same coverage?

To answer Newby's question. No, LH doesn't pay an agent more if they don't take advances. On their direct bill, they cut the agent commission in half. Something else wonderful that they do. If the client pays from a saving account instead of a checking account, they cut the agent commission 25 points.

Interesting stuff about LH.

I sent you a PM, I was just checking in with you. You're one of the legitimate success stories around here, and I really respect your input.

 

[theinsuranceman]

Either way you still owe the money back on a chargeback. Whether you pay it now (and avoid interest) or later doesn't matter.

It also has nothing to do with your contract level.

I would rather have a higher contract and deal with the chargebacks than a lower contract dealing with the same chargebacks!

Tom, you are correct about LH's high rates too!

Of course a charge back is still a charge back and has to be repaid. It's HOW the charge back is repaid: either deducted from next adv. comm. OR paid back from UNadvanced comm.

When it's deducted from adv. comm. it can be painful, especially for new agents or big producers. Don't you remember Jody's post few weeks ago about "charge back hell"? Full charge backs deducted from his adv. comm. This is one of the biggest reasons agents hop from co. to co. every few months. You can probably relate to this if you do any recruiting.

When it's paid back later, out of UN advanced comm. with NO interest, it helps an agent stay in place and keep his/her neck above water, and make ALL of their adv. comm. each and every week based on production, irregardless of charge backs.

Experienced, solid FE agents know that people buy FE based on EMOTION not price. If a prospect is going to buy after your presentation, then $3-$10 difference in premium is not a big deal. If $3-$10 IS a big deal to the prospect then this prospect will lapse pretty soon anyway and YOU will have a FULL charge back deducted from your next adv. comm.

If you make your sale happen ONLY because you replaced another FE policy with a $5/month cheaper premium then this sale will charge back to you when Oxford or some other cheap premium pusher knocks on their door.

Some of you guys supposedly have a lot of experience about FE, but some of your posts dictate otherwise. Now...if you all want to jump on me like you did Dwayne or Jody then have at it.

 

[GAHEALTH]

So who is good to be sold by phone whose rates are not too high and pay a good contract commission for FE?

 

[myinsurebiz]

I would choose 30 or 40 other companies to sell for besides LH and SL. Anything related to a Powell has being screwed all over it.

 

[scottishX]

A chargeback is a chargeback is a chargeback. You will get more charegebacks with LH because you will have more of them replaced. Maybe that's why they help finance the chargebacks?

You can't put enough lipstick on that pig.

Yeah, Kinda how Rent- A - Center would help

finance a TV.

 

[theinsuranceman]

I would choose 30 or 40 other companies to sell for besides LH and SL. Anything related to a Powell has being screwed all over it.

I've been pretty happy and satisfied for right at 11 yrs with the Powell's. How did YOU get screwed Tom? Just the cold hard facts with no fluff.

Seems like almost everyone on this forum feels they've been screwed by at least a few insurance co.'s and a few lead co.'s.

Please list the other FE co.'s that sell FE 100% over the phone (no 3 way w/ underwriting because then you can't sell after 5 pm and can't sell on Sat., no having to mail the app for a signature because about 1 out of 4 WON'T mail the app and check back to you, etc., etc.).

Seems like the SUCCESSFUL agents don't really complain and the UNsuccessful agents always won't to cry about something.

PS: Where you been hiding lately, haven't seen you around these parts for awhile.

 

[Tom Highway]

I've been pretty happy and satisfied for right at 11 yrs with the Powell's. How did YOU get screwed Tom? Just the cold hard facts with no fluff.

Seems like almost everyone on this forum feels they've been screwed by at least a few insurance co.'s and a few lead co.'s.

Please list the other FE co.'s that sell FE 100% over the phone (no 3 way w/ underwriting because then you can't sell after 5 pm and can't sell on Sat., no having to mail the app for a signature because about 1 out of 4 WON'T mail the app and check back to you, etc., etc.).

Seems like the SUCCESSFUL agents don't really complain and the UNsuccessful agents always won't to cry about something.

PS: Where you been hiding lately, haven't seen you around these parts for awhile.

Are you talking to me or to myinsurancebiz?

Cause if it's me, I was never screwed by LH, your group, or anyone else. I can't list the other FE companies that sell 100% over the phone because that's not the business model I chose to use. Maybe it works for LH and your folks, but it just doesn't suit my personality. I'll admit that I suck at cold calling on the phones. But put me kneecap to kneecap with somebody, and I have an uncanny ability to win people over, and establish credibility and rapport right away. I like looking people in the eyes and learning a little more about what makes them tick, why they're looking at whatever product they're looking at (FE, Med Supps, MAPD, or whatever), and really figuring out how I can help them.

I'm not nearly as successful as most of the people on this forum, and I have never portrayed that. Admittedly, I am average or below average at sales, but I am above average at a lot of other things that I choose to define my success. I'm still trying to find my way in all this, and I may never get to the point of financial success that some of you have, but I would sure like to. I'll never turn down a word of advice or anything like that.

Furthermore, I have never said that there's only one way to succeed in this industry. And I agree that one of the many things that separates the people who succeed from the people who fail is that the one who succeed will succeed no matter what - they don't blame anything or anyone else for things that don't work, they take that in stride and keep on going.

 

[theinsuranceman]

Are you talking to me or to myinsurancebiz?

Cause if it's me, I was never screwed by LH, your group, or anyone else. I can't list the other FE companies that sell 100% over the phone because that's not the business model I chose to use. Maybe it works for LH and your folks, but it just doesn't suit my personality. I'll admit that I suck at cold calling on the phones. But put me kneecap to kneecap with somebody, and I have an uncanny ability to win people over, and establish credibility and rapport right away. I like looking people in the eyes and learning a little more about what makes them tick, why they're looking at whatever product they're looking at (FE, Med Supps, MAPD, or whatever), and really figuring out how I can help them.

I'm not nearly as successful as most of the people on this forum, and I have never portrayed that. Admittedly, I am average or below average at sales, but I am above average at a lot of other things that I choose to define my success. I'm still trying to find my way in all this, and I may never get to the point of financial success that some of you have, but I would sure like to. I'll never turn down a word of advice or anything like that.

Furthermore, I have never said that there's only one way to succeed in this industry. And I agree that one of the many things that separates the people who succeed from the people who fail is that the one who succeed will succeed no matter what - they don't blame anything or anyone else for things that don't work, they take that in stride and keep on going.

I was talking to myinsurancebiz, didn't you see HIS post in my response area? You seem to be friends with Jdeasy, why don't you drive or fly to him and work a week with him? May be one of the best investments you've made in a long time.

 

[Tom Highway]

I was talking to myinsurancebiz, didn't you see HIS post in my response area? You seem to be friends with Jdeasy, why don't you drive or fly to him and work a week with him? May be one of the best investments you've made in a long time.

Not a bad idea, but I don't know how open he'd be to that.

 

[theinsuranceman]

Not a bad idea, but I don't know how open he'd be to that.

If he's your friend just ask him? (kinda like asking for the check to make the sale happen). Why wouldn't he want to help you?

If he won't help you come to NC and I'll teach you how to do it either face 2 face in the field or selling it on the phone w/ no face 2 face needed. Invest in yourself!