Has anybody done business with Assurance/Lumico Life

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
That's how term works dumby.
 
Agents need to explain the EXACT conditions of a policy and not prey upon clients who are naive on the subject. The policy has already been cancelled. I have no need for a term life insurance policy.
 
Agents need to explain the EXACT conditions of a policy and not prey upon clients who are naive on the subject. The policy has already been cancelled. I have no need for a term life insurance policy.
I would agree. If you asked for a permanent policy and got 10 year term, that would not be acceptable.

If you're in good health, you're probably 55-60. If not, maybe 5 years younger.

Either way, 100k of permanent coverage is going to run you closer to 5x what you were paying. (a preferred 55yo).

Getting 100k for 340/yr is possible...you'd just need to be 35 or so years younger.

If it sounds too good to be true, it is. Hopefully, you can find an independent agent who can help you find what you need.

I would recommend that you just google life insurance and any health conditions that you may have (or your age). You'll find a lot of online quoters that will give you instant prices. Just make sure that you select "lifetime" for the term. Most your results are going to be independent online agencies (even solo agents who write a lot of clean business) that can help.

You normally have to add your info to get the quotes but if you read through their websites, you'll be able to see if they're independent and can get you the best pricing/underwriting/additional options that you want.

Good luck in your search.
 
So, you're saying that you're naive....:err:
I hate when people bag on agents because we weren't in the meeting but at the very least an agent should ask how long they want the coverage to last, no?

Most consumers are very naive when it comes to life insurance.

We do this for a living and they don't.

But as I said to the poster you're referencing, if it sounds too good to be true, it probably is.
 
Hi, with 29 licenses I decided to put them to work for Assurance -. For someone who wants to make telesales insurance a hobby and read from their scripted plates all day and sell 2 products - then go for it - expect to work about 6+ hours a day on the phone trying to underwrite people in Term policies for $17-$60/month - or Final Expense --you earn approx $120-$150 per policy - the business is not on your books but it is owned by the company - about 30% or more becomes chargebacks . I made the top agent list week after week - and got recognition for earning approx $2000/week after submitting approx 25 policies/week. Yes can be done - 25 policies at $2000 total commissions - if that is ok with you then go for it - you just read scripts all day - and choice of Lumico life insurance is the only carrier they have - it is sort of a one size fits all gig. they have recently started inbound calls with warm leads to agents - i had outbound and inbound - this place works for the agent who wants to be told what to do and what to say and loves the structure, >>> weekends you will receive constant text messages to get on the dialer and earn bonus money since most agents do not like working weekends -
 
Hi, with 29 licenses I decided to put them to work for Assurance -. For someone who wants to make telesales insurance a hobby and read from their scripted plates all day and sell 2 products - then go for it - expect to work about 6+ hours a day on the phone trying to underwrite people in Term policies for $17-$60/month - or Final Expense --you earn approx $120-$150 per policy - the business is not on your books but it is owned by the company - about 30% or more becomes chargebacks . I made the top agent list week after week - and got recognition for earning approx $2000/week after submitting approx 25 policies/week. Yes can be done - 25 policies at $2000 total commissions - if that is ok with you then go for it - you just read scripts all day - and choice of Lumico life insurance is the only carrier they have - it is sort of a one size fits all gig. they have recently started inbound calls with warm leads to agents - i had outbound and inbound - this place works for the agent who wants to be told what to do and what to say and loves the structure, >>> weekends you will receive constant text messages to get on the dialer and earn bonus money since most agents do not like working weekends -
29 licenses? I didn't know they had that many. :shocked:

Let's see...Life, that's 1...Health, that's 2...P & C, that's 3. That's all I can think of...help me out. :err:
 
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