Former LH Agent Needs Guidance

[pcbinsurance]

"I will say though in certain circumstances Assurity is often higher than the rest in my area"
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In most circumstances they are higher, yet you use them because they pay you well? Most FE companies that are better priced pay you just as fast.

 

[Baseball7]

Transamerica pays on draft now so if I write 2/3 business I'm getting paid 30 DAYS later, far from quick. Foresters, Eagle Premier, LBL probably the quickest to pay in my bag.

 

[HoosierLife]

Transamerica pays on draft now so if I write 2/3 business I'm getting paid 30 DAYS later, far from quick. Foresters, Eagle Premier, LBL probably the quickest to pay in my bag.

And RNA. .

 

[TIGIJ]

I only have my own experience not any formal study. But I have worked closely in funeral homes for 20-years. For 5 of those years I was the person who helped people file their death claims after a death. I first became aware of of LHin 1998. My initial impression of them has never changed. LH's first FE product met with failure even though their premiums were higher than most. LH's PreNeed funeral insurance product failed out. Their current FE product was commonly clean-sheeted for years. I understand that they have cleaned it up a bit. Maybe that will help with their claims. But I'm sure that LH does not give the agents statistics on how many claims do not get paid. I would expect it to be much worse than average. As far as the companies that seem to pay most contestable claims, all the fully underwritten companies do well obviously. For simplified issue I's have to say Monumental/TransAmerica stands out in my mind. Settlers has come through on the ones I've seen. But I haven't seem very many with them. Amazingly Aetna has done pretty good if you forgive that they are crazy slow. But with their lack of underwriting up front you wouldn't expect them to pay very well. For a couple of years I traveled around and trained agents in 50 funeral homes in three states. During that time LH was pitching their pre-need insurance heavily so their name came up a few times. No one was ever impressed with their paying of claims. It was basically a given that if there was a death in the first 2-years, it wasn't going to pay. After 2-years they pay fine. But all companies do. LH isn't alone in denying a lot of contestible claims. A lot of companies do. But LH is the only one of those that I hear over and over from their green agents about how good they pay. The other bad ones just don't talk about it.

LH doesn't even trust the their own agents concerning clean sheet. LH will send a follow up letter to a LH client two weeks after the sale asking client if the app is correct like no smoking no meds etc. that company knows they have bad agents but they let them continue.

 

[Former LH Agent]

Here are a few questions to ask any LH agent you run into on the field:

1) Can you provide me documentation of your agency's production numbers month-to-month from the beginning of 2015 until February 2016. I would like to see your growth trend.

2) Can you provide me with documentation of your company's 2015 total numbers of death claims and the percentage of death claims paid and recinded? I am looking on your company's website and I don't see the total number of 2015 deaths and death claims paid in 2015?

3) Can you explain how your company pays death claims in 24 hours? I was told you need a state certified death certificate for a claim to be paid? Can you further explain "If John has a life insurance policy from you 2 months ago and John died on a Monday you will pay out a claim on Tuesday the next day"?

Then just sit back and wait for a respond

 

[jdeasy]

Here are a few questions to ask any LH agent you run into on the field beside the insurance forums:

1) Can you provide me documentation of your agency's production numbers month-to-month from the beginning of 2015 until February 2016. I would like to see your growth trend.

2) Can you provide me with documentation of your company's 2015 total numbers of death claims and the percentage of death claims paid and recinded? I am looking on your company's website and I don't see the total number of 2015 deaths and death claims paid in 2015?

3) Can you explain how your company pays death claims in 24 hours? I was told you need a state certified death certificate for a claim to be paid? Can you further explain "If John has a life insurance policy from you 2 months ago and John died on a Monday you will pay out a claim on Tuesday the next day"?

Those really are not relevant questions. Who cares what the agency does? That has no bearing on the agent's success or lack of it.

No company will tell you the percentage of contestable claims paid. None of them will!! That includes LH. So there's no way to compare even if one company did tell you.

Yes, they will pay within 24 hours of death on a non contestable claim if the person is signed up with the FCGS. No death certificate needed. But any non contestable claim with any company out there can be assigned and paid within 24 hours without a death certificate.

That won't happen on a contestable claim with any company. Including LH.

 

[Gooner]

Those really are not relevant questions. Who cares what the agency does? That has no bearing on the agent's success or lack of it.

No company will tell you the percentage of contestable claims paid. None of them will!! That includes LH. So there's no way to compare even if one company did tell you.

Yes, they will pay within 24 hours of death on a non contestable claim if the person is signed up with the FCGS. No death certificate needed. But any non contestable claim with any company out there can be assigned and paid within 24 hours without a death certificate.

That won't happen on a contestable claim with any company. Including LH.

Well there you, peeing in the dudes cheerios with your 'logic'...haha

 

[Iwillpay]

Here are a few questions to ask any LH agent you run into on the field beside the insurance forums:

1) Can you provide me documentation of your agency's production numbers month-to-month from the beginning of 2015 until February 2016. I would like to see your growth trend.

2) Can you provide me with documentation of your company's 2015 total numbers of death claims and the percentage of death claims paid and recinded? I am looking on your company's website and I don't see the total number of 2015 deaths and death claims paid in 2015?

3) Can you explain how your company pays death claims in 24 hours? I was told you need a state certified death certificate for a claim to be paid? Can you further explain "If John has a life insurance policy from you 2 months ago and John died on a Monday you will pay out a claim on Tuesday the next day"?

I asked question #3 recently at a company's claim department.

They usually pay within 24 hours of receiving the "State Death Certificate".

Not within 24 hours at death.

So lets assume your policyholder dies, his policy is over 24 months (non contestable). The family can pay for the funeral costs get the burial done and then get the death certificate to file the claim and get the claims check. Or they can assign the policy to the funeral home to take care of the burial.

The insurance company will then pay the funeral home and if any balance the beneficiaries get it.

Now agents just say XYZ company wiil pay check within 24 hours, without explaining under what conditions.

Would love to hear from the Funeral Directors or those agents that assist with claims on a regular basis.

 

[Former LH Agent]

Those really are not relevant questions. Who cares what the agency does? That has no bearing on the agent's success or lack of it.

No company will tell you the percentage of contestable claims paid. None of them will!! That includes LH. So there's no way to compare even if one company did tell you.

Yes, they will pay within 24 hours of death on a non contestable claim if the person is signed up with the FCGS. No death certificate needed. But any non contestable claim with any company out there can be assigned and paid within 24 hours without a death certificate.

That won't happen on a contestable claim with any company. Including LH.

For one it does. If an agency's production numbers are on a decline in PA from 2.1 million last May in 2015 to 1.4 million in February 2016. Then the cat is out the bag and people are waking up to the high prices, clean Sheeting and FCGS sales gimmick. The market is always right! So numbers do matter because no agent wants a chargeback and high lead debt with over price recycled leads.

Second you can find carriers financials and percentage of claims paid on there websites. Here is just one below. I have Transamerica and Frosters data as well.

Visit settlerslife.com and go to "why we exist"

Third show me proof in writing from LH that they will pay any "Full death claim paid without a certified state Death Certificate" it can take upto 30 days in the state of PA to get one. Can you show a link of LH death claim paid if a client die in one day and the next day LH wired the money and no death certificate needed? Are you telling me that insurance companies can go on "word of a funeral home that a dead body came in and just wire the money"?

I would love for this magician to show me the links etc

Google PA state death Certificate

 

[jdeasy]

For one it does. If an agency's production numbers are on a decline in PA from 2.1 million last May in 2015 to 1.4 million in February 2016. Then the cat is out the bag and people are waking up to the high prices, clean Sheeting and FCGS sales gimmick. The market is always right! So numbers do matter because no agent wants a chargeback and high lead debt with over price recycled leads.

Second you can find carriers financials and percentage of claims paid on there websites. Here is just one below. I have Transamerica and Frosters data as well.

Visit settlerslife.com and go to "why we exist"

Third show me proof in writing from LH that they will pay any "Full death claim paid without a certified state Death Certificate" it can take upto 30 days in the state of PA to get one. Can you show a link of LH death claim paid if a client die in one day and the next day LH wired the money and no death certificate needed? Are you telling me that insurance companies can go on "word of a funeral home that a dead body came in and just wire the money"?

I would love for this magician to show me the links etc

Google PA state death Certificate

Yes, I have seen LH pay within 24 hours of death without a death certificate. I've seen dozens paid within 24 hours of death when the policy is assigned.

No magic needed. That's how it works.

As for those other numbers, they are not the percentage of contestable claims paid. They are the percentage of claims paid. That includes those numbers from Settlers. That's the percentage of all claims.

It has been presented here in the past that settlers is the only company that will let you know that number. But the truth is that settlers will not tell you either. Nor will they tell you number of contestable claims filed so you can do your own math.

Any non contestable claim in the USA can be paid within 24 hours. Doesn't matter the company.


ASs for the first part, I suppose if that stuff is important to you then it's important to you. But every IMO has superstar agents that are killing and agents scraping by. Even a terrible company like LH or Bankers Life have agents making bank. As for IMO's, Parker and Asses, or OneLife or whatever their name of the month is?, has a few great agents. FEX, 360, etc, on the other end of the scale, that have a high percentage of success stories also have some agents on the verge of washing out.