Fex Contracting or the Insurance Squad

[rousemark]

Is it true across the board that if a Senior Life policy cancels due to NSF or death in the first 6 months, it's a 100% chargeback?

I wonder why there has been no answer to this question?

It does appear that any month your persistency is below 72.5% you are not paid any of your renewals. SL may be a great company but it seems they have a lot of gotchas in their contract. They give with one hand, take it with the other.

 

[goillini52]

Actually we are picking them up. That 0-85 GI is really the only product of its kind.

Yeah, FexQuotes shows you and Ben are offering contracts.

 

[theinsuranceman]

Actually we are picking them up. That 0-85 GI is really the only product of its kind.

Welcome to the SL family.

 

[theinsuranceman]

Yeah, FexQuotes shows you and Ben are offering contracts.

That's great! Last year they badmouthed SL and now they are joining SL.

 

[HoosierLife]

I wonder why there has been no answer to this question?

It does appear that any month your persistency is below 72.5% you are not paid any of your renewals. SL may be a great company but it seems they have a lot of gotchas in their contract. They give with one hand, take it with the other.

There are. The 6 month thing is for sure. That's ok for GI, but not everything else.

I can't believe no one ever pointed that out before?

I do like a lot of things about SL though. But there are some things that concern me.

 

[theinsuranceman]

That's great! Last year they badmouthed SL and now they are joining SL.

What %

Their commissions aren't that bad in lieu of their underwriting.

But you have to sell that non-regulated / non-guaranteed Casket Package in order to earn it. But in most cases - unless Super Preferred - a SL is prime to be replaced.

View attachment 5068

We just bundle the legacy and their policy, like Internet and cable. They see they are getting something that will save them a few thousand dollars on their funeral as well as a policy.
Helps agents pick up an extra sale here and there that agents with other carriers would miss.

13 month persistency improves about 10%. We dont ask them if they wish to have legacy. We tell them legacy comes with their policy. That's what separates us from the other companies out there.

Legacy is not just getting the merchandise for about half price. Legacy will negotiate with funeral homes in the area on the family's behalf.

 

[theinsuranceman]

There are. The 6 month thing is for sure. That's ok for GI, but not everything else.

I can't believe no one ever pointed that out before?

I do like a lot of things about SL though. But there are some things that concern me.

Louis points it out whenever he gets a chance. It's just never been a problem for me.
I predict all the FE carriers will begin to adopt the same thing. Most of them are struggling as we speak.

 

[goillini52]

What %


We just bundle the legacy and their policy, like Internet and cable. They see they are getting something that will save them a few thousand dollars on their funeral as well as a policy.
Helps agents pick up an extra sale here and there that agents with other carriers would miss.

13 month persistency improves about 10%. We dont ask them if they wish to have legacy. We tell them legacy comes with their policy. That's what separates us from the other companies out there.

Legacy is not just getting the merchandise for about half price. Legacy will negotiate with funeral homes in the area on the family's behalf.

What happens over the years if the worms eat through the coffin? Will Legacy replace replace the coffin...do they guarantee the product?

 

[goillini52]

We tell them legacy comes with their policy. That's what separates us from the other companies out there.

What...fibbing to your clients about Legacy coming with their policy?

 

[goillini52]

Louis points it out whenever he gets a chance. It's just never been a problem for me.
I predict all the FE carriers will begin to adopt the same thing. Most of them are struggling as we speak.

Are you and Ramiz related? He predicts the future too.