Great Western New Applicatiom

[Newby]

Not be concerned about goals ? How can you be successful without goals ? I think Settlers has it right wsith the 20% Bronze limit. There's a reason for that so I'm following their lead even though I write with a couple of other carriers. I've always done what it takes to stay in business and avoid what puts others out of business. I'm willing to work a little harder to find clients that are healthy,qualify for 1st day coverage,stay on the books. However,I understand your point. To each his own.

Noah you goal setting that tells you to go back out in the field today is fine. But a goal to limit GI sales when you are standing in front of someone wanting to buy a GI policy is not wise.

Settlers limits their GI % because they have to pay the claims. You don't. So if you are over Settlers Bronze quota and you have a GI sale in front of you...pull out Gerber or similar.

I've sold more GI cases with 100% 1-year chargeback than most agents will ever sell because I write pre-need policies. And I'm still in business in my 20th year.

Just write them and put the money in reserve account rather than walk away from them.

 

[noah]

Noah you goal setting that tells you to go back out in the field today is fine. But a goal to limit GI sales when you are standing in front of someone wanting to buy a GI policy is not wise.



Settlers limits their GI % because they have to pay the claims. You don't. So if you are over Settlers Bronze quota and you have a GI sale in front of you...pull out Gerber or similar.

I've sold more GI cases with 100% 1-year chargeback than most agents will ever sell because I write pre-need policies. And I'm still in business in my 20th year.

Just write them and put the money in reserve account rather than walk away from them.

I know Settlers pays the claims I don't,however agents do get charged back.

JD doesn't do GI,there's a reason for that and imho I think he has it right.

Please tell me why he should not walk from it ?

I'm staying away because I already learned it didn't work for me,so for me I'm simply going after better quality business and referring true GI to Moo and writing a few Bronze.

Since you are in pre need,and 20 years into this profession,it fits your business plan and you have the capital in reserve to deal with it.

I'm only a couple of years into the business,so I'm playing it safe.

Go Redskins !

 

[sirherbie]

Lol Noah you can't be helped. Did I not explain you can write snl,Grange or uhl Rop for about 95% of all people and it Has no chargeback. What is the statement "i'm looking for good business" mean. My persistency is great on Gi and rop as the people really want it and I've had few chargeback claims. As newby says your there anyway so why not write it.To each his own but I promise you youre leaving big $ on the table. Don't forget you're not writing many terminally ill people so you'll be surprised how how many live over 2 yrs.

 

[Rearden]

Lol Noah you can't be helped. Did I not explain you can write snl,Grange or uhl Rop for about 95% of all people and it Has no chargeback. What is the statement "i'm looking for good business" mean. My persistency is great on Gi and rop as the people really want it and I've had few chargeback claims. As newby says your there anyway so why not write it.To each his own but I promise you youre leaving big $ on the table. Don't forget you're not writing many terminally ill people so you'll be surprised how how many live over 2 yrs.

Correct.

WholeLife and SPUR CITY - top producers in their own right - both wrote a considerable amount of guaranteed issue.

I wonder how much lower their net would have been without it?

 

[rousemark]

Lol Noah you can't be helped. Did I not explain you can write snl,Grange or uhl Rop for about 95% of all people and it Has no chargeback. What is the statement "i'm looking for good business" mean. My persistency is great on Gi and rop as the people really want it and I've had few chargeback claims. As newby says your there anyway so why not write it.To each his own but I promise you youre leaving big $ on the table. Don't forget you're not writing many terminally ill people so you'll be surprised how how many live over 2 yrs.

Settlers does not have a chargeback due to death during the first two years on the Bronze plan.

 

[sirherbie]

Yes but they have the 20% max of level. On what I've read who can stand writing 4 or 5 level settlers to bronze?By the way whats the first yr and renewals on the bronze? Isn't it like 80/5?

 

[rousemark]

Yes but they have the 20% max of level. On what I've read who can stand writing 4 or 5 level settlers to bronze?By the way whats the first yr and renewals on the bronze? Isn't it like 80/5?

I have a lower contract than some of the recruiters are offering now but mine is 80/11 through year 10 .. then something like 4 for life.

I keep looking at the contracts I have and it appears Settlers is the best for building a renewal base that would pay for years to come creating a legacy income. Not only do they have a fair renewal commission rate, they pay vested commissions for the life of the policy.. A lot of companies pay a "service fee" after 10 years and service fees are not vested.

As far as writing 4 for 1, I know a lot of guys don't like Settlers for whatever reason. But then you have Randy Shupe who did 200K with them this year. I guess things are whatever you make them to be. JD says they make his job harder because they are difficult becasue they are hard to deal with. I have not found that to be the case but I have written very little business with them compared to what JD writes. I guess I still look at them as the company they were in the old days when they were a family owned organization and we were selling cancer insurance with them.

 

[OttoGraf]

Tell me why I should get GW and does it cover a lot of traditional Gerber biz?

What's street level?

What's their downside?

 

[sirherbie]

Street is 65/6 and it covers all what gerber does as its Gi. It's 20% higher priced than Gerber but 20-25% lower priced than Ngl and kemper so its very sellable. I won't sell the level as its the questions are very confusing thus i smell claim denials in the first 2 yrs.The main advantage is only a 9 month chargeback for death versus versus 2 yrs for Gerber and that's big. They also advance 6 months or $500. I'd still write rops's with no chargebacks first.

 

[OttoGraf]

Street is 65/6 and it covers all what gerber does as its Gi. It's 20% higher priced than Gerber but 20-25% lower priced than Ngl and kemper so its very sellable. I won't sell the level as its the questions are very confusing thus i smell claim denials in the first 2 yrs.The main advantage is only a 9 month chargeback for death versus versus 2 yrs for Gerber and that's big. They also advance 6 months or $500. I'd still write rops's with no chargebacks first.

Thanks! So it's only advantage over Gerber is the chargeback period?