Has anybody done business with Assurance/Lumico Life

Feb 21, 2018

  1. Abrasax
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    Abrasax Guru

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    When I was trying to decide between telesales and F2F, I talked to a lady in his office. Nothing about it seemed right. They have this amazingly successful system where their guinea pig (who is pry Mike) made sixty some thousand dollars in 9 months or something with the most amazing and low priced carriers on the market, BUUUUUUUT they can't tell you who any of these carriers are or about any of the products that you want to sell before you fork over a $300 startup cost and sign a NDA. Just seems greasy and I can't imagine anyone but a brand new agent forking over money before he even knows the carrier he'll be writing for.

    By the way, this was in regards to his Aion program, not the FE Dojo. I'd be less likely to want to sell FE by phone because the few examples I've seen have all been high pressure, and it seems to me like you might have to use that approach to be successful. With Term and IUL at least you're usually talking to younger people who are used to doing business digitally.
     
    Abrasax, Jan 6, 2019
    #31
  2. Adam K
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    Adam K New Member

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    I’ve been at Assurance for 12 weeks now and am doing extremely well. I’m selling between 15-20 polices/week on 27.5-30% commission. It’s a sliding scale. I’m also hitting weekly bonuses between $500-$900. They will not hold your hand past the first few weeks, but if you can sell and are willing to work you will make it. I am within the top 10% of the company. I’m not on here much, but if you PM me I will see it eventually.
     
    Adam K, May 18, 2019
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  3. MrEd
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    I hear they have recently changed up a few things...mainly they are inbound only now for agents and switched to a new new dialing system. Comp plan use to start at 220% of the clients first month premium.
     
    Last edited: Jun 14, 2019
    MrEd, May 18, 2019
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  4. Adam K
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    All correct except the comp starts at 220% of the monthly premium.
     
    Adam K, May 18, 2019
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  5. MrEd
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    Thxs for the correction...it's been a while since I looked at it. :)
     
    MrEd, May 18, 2019
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  6. FinalExpenseDojo.com
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    Probably hard to remember how low it was when everyone else pays 4-6 times that :biggrin:
     
  7. Tahoe Ray
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    Tahoe Ray Guru

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    That's not how comp really works.

    220% of 100 bucks per month is $220 first year.

    If you're independent, you make something like $1080 on the same case (1200×90%).

    Free leads aren't free.

    But, judging from your income in your earlier post, you're making more than most agents so keep up the good work!
     
  8. Adam K
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    Adam K New Member

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    Thanks guys. I guess it’s not for everyone, but it seems to work for me. I like that I can login at my own leisure, and have a consistent flow of incoming calls (whether good leads or not). I also don’t want to buy leads (that’s just me), so this combination works for me. I guess my only point writing it here is that I have found them to be honest, I am paid 3x/day through Zelle, and the experience has been positive for me. I have seen a lot of turnover, but the agents who consistently write business are making a good living. I am new to the business, so I didn’t have any other baggage or past experiences to taint my views...this has probably helped me. Good luck to you all. :)

    Ps: I sold 5 polices today for about $465 in monthly premium. I was #3 in deals sold today and #7 in volume. I will be paid at 300% monthly premium this week.
     
    Adam K, May 19, 2019
    #38
  9. Tahoe Ray
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    Glad that this works for you.

    FWIW, that's a 25% contract if you assume an independent makes 100%.

    That level is normally really fair (even better) for your deal based on a lead/call center deal.

    Keep killing it and then figure out how to generate your own leads and/or buy them.

    You'll give yourself a big raise.
     
  10. RandallFlagg
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    RandallFlagg New Member

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    LUMICO/ ASSURANCE

    I WOULD NOT do business with them. I started a policy and a few days later when the policy showed up I found out the agent completely withheld information that if made known I would have never started a policy with them.

    The policy was for $100,000 @ $340.00 per year. Not bad right? That's a good deal in my book. Once the policy showed up I saw that 9 years after activation of the policy the policy premiums would have went up BY 7X!!! It went from $340.00 per year to over $2,200.00 per year!! It would have been impossible to afford and none of that info was made privy to me.

    Crooked agent and not a very good company
     
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