FE without SSN

[titeye]

They have such a dishonest approach to business and their agents...
Video: "Every single agent can earn 150%..."

Sure. All you need to do is recruit an army of agents racking up $18 million a year in FE (per the comp schedule you posted). Then you can sell a policy and get 150%.
What a joke.

I love how you expressed this. I never looked at it through this lens before, nor calculated just how big of an army is needed to accomplish it.
In other words, why would an agent care what their contract level is, if he got to the point of receiving overrides from a downline producing $18 million a year?
To show how difficult it is, there is only 1 (maybe 2) agencies within the entire SL org that have achieved that level.

 

[rousemark]

I love how you expressed this. I never looked at it through this lens before, nor calculated just how big of an army is needed to accomplish it.
In other words, why would an agent care what their contract level is, if he got to the point of receiving overrides from a downline producing $18 million a year?
To show how difficult it is, there is only 1 (maybe 2) agencies within the entire SL org that have achieved that level.

Yeah. I was wondering how many 18M producers they had.

 

[rmhaire]

Yeah. I was wondering how many 18M producers they had.

Just Greg.

 

[myinsurebiz]

It happens but is frowned upon.

Like pulling wisdom teeth

 

[tikibarrister]

Just to illustrate how sad the life of a Senior Life insurance agent like @theinsuranceman is, consider this.

Greg's been here for 14 years.

During that time, he's been recruiting 24/7 to build his downline.

After 14 years...he's only at 115%.

He slowly clawed his way up to that level over 14 years of grooming new recruiting, having people drop out, begging people to stay, watching them fail or move to other agencies, etc. And all of that is recruiting he does for free on SL's behalf on top of trying to sell some policies himself to make a living.

If someone is pounding the pavement and flogging the "opportunity" for 14 years and has only moved a few inches up the ladder, how well do you think you'll do?

If I told you that you could have a primary job and a side job and after 14 years of working both you'd only beginning to scratch at what non-SL agents make day one, would you be interested?

 

[titeye]

Just to illustrate how sad the life of a Senior Life insurance agent like @theinsuranceman is, consider this.

Greg's been here for 14 years.

During that time, he's been recruiting 24/7 to build his downline.

After 14 years...he's only at 115%.

He slowly clawed his way up to that level over 14 years of grooming new recruiting, having people drop out, begging people to stay, watching them fail or move to other agencies, etc. And all of that is recruiting he does for free on SL's behalf on top of trying to sell some policies himself to make a living.

If someone is pounding the pavement and flogging the "opportunity" for 14 years and has only moved a few inches up the ladder, how well do you think you'll do?

If I told you that you could have a primary job and a side job and after 14 years of working both you'd only beginning to scratch at what non-SL agents make day one, would you be interested?

I don't know how many agents he has, but if he's at 115%, his agency has submitted $100,000 in business at least one time over the course of one month, according to the Commission Schedule. Keep in mind, SL commission schedule is less than 3-4 years in the making. Prior to this, Greg was given control and allowed to bring agents in well below the 90% level required today. Since the new Commission Schedule took effect, the lowest contract any agent could have is 90%. That's an average override of 25% on production, given his 115% contract. This goes to show how much they were taking advantage of agents when they were giving them contracts as low as 75%.
If his downline only produces half the amount ($50,000 per month) that was required for him to get 115%, I would guess he probably doesn't care. He constantly recruits in order to continue getting paid from that override spread.

 

[DonP]

Lol . $250 k a month to get 130% . I do 1 app a yr on a few carriers and I get 130% . That's really laughable . The contact at 145% for $8 mil is near what other agencys get . Most are at 150% . We're the total screw job is . 100-135% levels is just laughable . And senior life knows 95% of their agents and agencys will be stuck between 90-120% forever . They company makes the vast majority of their money on those agents . $450/ 1000 for mailers ? Last yr those were $350 . Postage hasn't risen 30% in a yr . Why the huge jump ?

 

[rousemark]

Just to illustrate how sad the life of a Senior Life insurance agent like @theinsuranceman is, consider this.

Greg's been here for 14 years.

During that time, he's been recruiting 24/7 to build his downline.

After 14 years...he's only at 115%.

He slowly clawed his way up to that level over 14 years of grooming new recruiting, having people drop out, begging people to stay, watching them fail or move to other agencies, etc. And all of that is recruiting he does for free on SL's behalf on top of trying to sell some policies himself to make a living.

If someone is pounding the pavement and flogging the "opportunity" for 14 years and has only moved a few inches up the ladder, how well do you think you'll do?

If I told you that you could have a primary job and a side job and after 14 years of working both you'd only beginning to scratch at what non-SL agents make day one, would you be interested?

I believe Greg said a while back he had been with SL for 19 years. You left out one of the big advantages.. He gets pats on the back and "attaboys" from the Powell's.

Seriously, there are reasons that someone else may see for staying that we don't see. The same with LH. Sometimes it may be just old fashioned loyalty.

 

[rousemark]

I was considering SL several years ago. Greg was offering 115% / 9% renewal at the time (95% and 0% renewal w/o VAP)

The problem was in the contract details, There were many ways that an agent would lose his/her commissions. 100% charge back on the policy that lapsed for any reason prior to paying 7th monthly premium. No renewals in any month that persistency dropped below 72.5% There were many more but these are the only two I remember.

 

[titeye]

I was considering SL several years ago. Greg was offering 115% / 9% renewal at the time (95% and 0% renewal w/o VAP)

The problem was in the contract details, There were many ways that an agent would lose his/her commissions. 100% charge back on the policy that lapsed for any reason prior to paying 7th monthly premium. No renewals in any month that persistency dropped below 72.5% There were many more but these are the only two I remember.

If Greg offered you 115%, tikibarrister's info is incorrect. He couldn't have offered 115, if his is only 115. According to linkedIn, he markets himself as a Partner. If that's true, his commission is more like 130-140%.