FE prospect question

[DayTimer]

That surprises me. The year I did the Lee FB leads I cross sold a fair amount of GUL and Term to family members.

Non the less sounds like you are killing it with Facebook.

I really just got stared pursuing this approach within the last few months. I am not a fan of UL's at all, and therefore I do not offer them. I'd rather take the commission cut and offer a Whole life with a flex PUA attached. The questions I use to uncover these opportunities are really directed toward the tax advantages and using whole life to supplement retirement income, so term as a death benefit play doesn't really come up.

I have not been as disciplined pursuing referrals as I need to be, but that is changing as well. I hate to give @Markthebroker any credit, but the little snot helped me realize how much harder I am making my life by not having a process in place to cultivate referrals. @DHK referred me (see what I did there) to Sandy Schussel, and I'm building his approach into my approach.

 

[goillini52]

So what are commission rules on products like these? Meaning if the client dies early, do they come take my commission back? Or does if vary as to whether its GI or ROP, etc?

So on ROP... if its 2yr or 3yr, that means if they die in the 2yr or 3yr window, the company pays back the premiums plus some additional typically? They have to make it past those timeframes to get the actual DB?

What is the difference in GI & Modified?

Sorry, again way out of my box. Just trying to see if there is anything reasonably worth paying for - for this prospect.



That is a pretty big difference in premium. Is it just the appetite of the carriers?
Earlier was suggested AIG & AM AM ... and they are pushing 2x what you said Sons of Norway will charge. Am I missing something?


Thanks for all the info guys

LifeHawk already gave a good answer, so I'll just add to it.

Off the top of my head. Modified pays 70-90%...GI pays 50-80% commissions.

If they die before the 2 years is up( a couple are 3 years), then you get charged back in varying amounts depending on the company for GI.

If they die in the 1st 2 (3) years, the policyholder gets back oremiums paid in plus 10% withmost companies. Sons of Norway is 4.5%.

Yes after 2 years(some are 3, seems like I saw one that was 4 years), full face amount.

I guess that AIG pays a higher commission, so they have higher rates than Son's.

 

[Markthebroker]

I really just got stared pursuing this approach within the last few months. I am not a fan of UL's at all, and therefore I do not offer them. I'd rather take the commission cut and offer a Whole life with a flex PUA attached. The questions I use to uncover these opportunities are really directed toward the tax advantages and using whole life to supplement retirement income, so term as a death benefit play doesn't really come up.

I have not been as disciplined pursuing referrals as I need to be, but that is changing as well. I hate to give @Markthebroker any credit, but the little snot helped me realize how much harder I am making my life by not having a process in place to cultivate referrals. @DHK referred me (see what I did there) to Sandy Schussel, and I'm building his approach into my approach.

 

[WinoBlues]

I have not been as disciplined pursuing referrals as I need to be, but that is changing as well. I hate to give @Markthebroker any credit, but the little snot helped me realize how much harder I am making my life by not having a process in place to cultivate referrals

10x10

And it does not take any thing away from your current process.

Just left a meeting with a couple of ladies. Total FE type. Met at a McDonald's. These two are something like # 7&8 referrals from someone I wrote 6 policies for last year off of a claim.

 

[billyb]

I have to try Josh's leads. There is definitely a difference in quality depending on how the leads are generated. Bought some from a vendor lately who had a lower price, but I never had so many "not interested" or "don't just show up at my door, Slam" in a while. Has to be how they were generated.

 

[goillini52]

I have to try Josh's leads. There is definitely a difference in quality depending on how the leads are generated. Bought some from a vendor lately who had a lower price, but I never had so many "not interested" or "don't just show up at my door, Slam" in a while. Has to be how they were generated.

You get what you pay for. Just like with MA.