I Can't Get Out to Sell So I Need to Sell Over The Phone-Help-Any Companies?

[theinsuranceman]

Greg,
You know that I try to be as impartial as I can. I have never made a statement concerning SL that was false.

According to page 5, of the current SL Agent Manual, it reads verbatim:

Ultimate Preferred Whole Life is offered to people ages 0-85 who have no health issues and who have not used nicotine products in the past 10yrs. We offer this whole life coverage at very reasonable premiums with a face amount range of $10,000 to $30,000. Due to the preferred class of risk, additional underwriting may be required. The following also apply: The applicant must have a checking account;. a primary care physician; and, only one medication per condition accepted. Not available in Minnesota.

Super Preferred Whole Life is offered to people ages 0-85 who have no health issues and who have not used nicotine products in the past 5 yrs with face amounts of $5,000 to $30,000. Due to the preferred class of risk, the following also apply: The applicant must have a checking account; only one medication per condition accepted.

The only difference between the 2 classifications is the length of time the prospect has not smoked and UP requires a PCP.

With the exception of the duration of nicotine usage, why would you say someone who qualifies for super preferred do NOT usually qualify for ultimate preferred?

Is the Agent Manual accurate, or are YOU misleading?

Please clarify.

I'm not misleading at all. See red text above that's the biggest filter between ultimate preferred and super preferred. I advise all my agents to do as I would: If a client appears to qualify for ultimate preferred just write them the next best thing which is super preferred.

Why? Because you get the full commission % on super preferred vs the lower commission on the ultimate preferred...and the difference in premium is only $3.81 in the example in post #36 above. And the super-preferred has a very competitive rate. I know you would disagree as I believe your goal is to save every single nickel you can. My goal is to make every single nickel I can.

The only time I'd use ultimate preferred, as long as proposed insured qualifies, would be if I'm in a price competitive situation and I have to provide the cheapest premium to get the business.

Of course, no matter which plan I write, their policy is still bundled with the legacy-assurance membership ($4 monthly) which provides:
_free hearing exam each year
_discounts on hearing aids
_discounts on diabetic socks
_discounts on diabetic shoes
_telemedicine 24 hours a day, 7 days a week, 365 days a year
_one casket + one vault + one monument locked in at $2950 for the rest of the insured's life
_Up to 4 family members are included in the legacy-assurance membership, complete with all the savings as the insured, at no charge!

Another agent could have a monthly premium $50 cheaper and it wouldn't come close to the legacy savings provided to the insured and family. The savings of approx. $4000-$5000 on the casket + vault + monument is like a free $4k-$5k immediate coverage policy on the 4 other family members! The 4 family members can be any age and in any health and still get these savings immediately.

Some of the leads agents visit have plenty of insurance, and don't know why they responded to the ad. It was just some sort of reflexive action. And they will still take out a SL policy, not because they need insurance $$$, but because they want the legacy savings on them and 4 family members. That's one reason that Sr Life agents will pick an extra sale here and there that other agents would miss.

So if you are really that concerned with saving Ms. Jones every nickel you can you would contract with Sr Life so you could provide the legacy savings to the people. After all we just showed up above that legacy's savings will provide a lot more savings to Ms. Jones than that $50 per month cheaper premium would.

 

[titeye]

I'm not misleading at all. See red text above that's the biggest filter between ultimate preferred and super preferred. I advise all my agents to do as I would: If a client appears to qualify for ultimate preferred just write them the next best thing which is super preferred.

Why? Because you get the full commission % on super preferred vs the lower commission on the ultimate preferred...and the difference in premium is only $3.81 in the example in post #36 above. And the super-preferred has a very competitive rate. I know you would disagree as I believe your goal is to save every single nickel you can. My goal is to make every single nickel I can.

The only time I'd use ultimate preferred, as long as proposed insured qualifies, would be if I'm in a price competitive situation and I have to provide the cheapest premium to get the business.

Of course, no matter which plan I write, their policy is still bundled with the legacy-assurance membership ($4 monthly) which provides:
_free hearing exam each year
_discounts on hearing aids
_discounts on diabetic socks
_discounts on diabetic shoes
_telemedicine 24 hours a day, 7 days a week, 365 days a year
_one casket + one vault + one monument locked in at $2950 for the rest of the insured's life
_Up to 4 family members are included in the legacy-assurance membership, complete with all the savings as the insured, at no charge!

Another agent could have a monthly premium $50 cheaper and it wouldn't come close to the legacy savings provided to the insured and family. The savings of approx. $4000-$5000 on the casket + vault + monument is like a free $4k-$5k immediate coverage policy on the 4 other family members! The 4 family members can be any age and in any health and still get these savings immediately.

Some of the leads agents visit have plenty of insurance, and don't know why they responded to the ad. It was just some sort of reflexive action. And they will still take out a SL policy, not because they need insurance $$$, but because they want the legacy savings on them and 4 family members. That's one reason that Sr Life agents will pick an extra sale here and there that other agents would miss.

So if you are really that concerned with saving Ms. Jones every nickel you can you would contract with Sr Life so you could provide the legacy savings to the people. After all we just showed up above that legacy's savings will provide a lot more savings to Ms. Jones than that $50 per month cheaper premium would.

Other than you now sounding like a used-car salesman, you made my point in your 2nd paragraph. You were one of the managers advising agents to sell their clients Standard, because it paid more, when they otherwise qualified for Super Preferred and Preferred rates. Wouldn't it be more ethical of you to contract with another carrier where you get paid full commissions and not have to compromise your integrity, rather than not disclosing the rate a client actually qualifies for?

 

[theinsuranceman]

Other than you now sounding like a used-car salesman, you made my point in your 2nd paragraph. You were one of the managers advising agents to sell their clients Standard, because it paid more, when they otherwise qualified for Super Preferred and Preferred rates. Wouldn't it be more ethical of you to contract with another carrier where you get paid full commissions and not have to compromise your integrity, rather than not disclosing the rate a client actually qualifies for?

No more so than you getting contracted with Sr Life so you could save Ms. Jones $4k-$5k on her funeral merchandise plus all the other savings I mentioned above. The savings provided by the legacy membership mentioned above would save Ms. Jones a whole lot more than $10 a month. You may need to reread the posts again.

By the way, how on earth can you guarantee Ms. Jones you are always quoting her the cheapest rates anywhere in the industry?

You sound a lot lot JD. Is he in the background telling you what to do? lol

 

[theinsuranceman]

Other than you now sounding like a used-car salesman, you made my point in your 2nd paragraph. You were one of the managers advising agents to sell their clients Standard, because it paid more, when they otherwise qualified for Super Preferred and Preferred rates. Wouldn't it be more ethical of you to contract with another carrier where you get paid full commissions and not have to compromise your integrity, rather than not disclosing the rate a client actually qualifies for?

I sure did. I look after my agents before I look after Ms. Jones saving $5 or $10 a month. No one puts a gun to her head and forces her to buy a plan. She enrolls in a plan on her own free will. My goal is to make an honest living not be a cheapest premium whore.

Some people go to Burger King over McDonalds...and vice versa.....because they like the sizzle better. In this case the sizzle is the savings legacy-assurance provides to the insured and 4 other family members.

 

[Todd King]

Other than you now sounding like a used-car salesman, you made my point in your 2nd paragraph. You were one of the managers advising agents to sell their clients Standard, because it paid more, when they otherwise qualified for Super Preferred and Preferred rates. Wouldn't it be more ethical of you to contract with another carrier where you get paid full commissions and not have to compromise your integrity, rather than not disclosing the rate a client actually qualifies for?

Congratulations! You finally got someone to tell the truth without dodging it!!

 

[BibH]

Greg is laughable. He drank the Jim Jones koolaide. Any senior life or Lincoln heritage i run into i replace 98% of time . If it ain't in the contract (legacy) its not worth the paper its printed on . I simply ask the client " Mrs Bee how many things have you been promised in your life that never came true"? She'll reply 100's . I explain that this is one of those things that might or might not come true. Mrs Bee wouldn't you rather have 25% more coverage thats a GUARANTEE than a promise that might not come true . Do you want to gamble with what your family gets on some gimmick? My company is Guaranteeing you this . It pisses me off when company's hide behind high priced products by pushing gimmicks.

 

[theinsuranceman]

Greg is laughable. He drank the Jim Jones koolaide. Any senior life or Lincoln heritage i run into i replace 98% of time . If it ain't in the contract (legacy) its not worth the paper its printed on . I simply ask the client " Mrs Bee how many things have you been promised in your life that never came true"? She'll reply 100's . I explain that this is one of those things that might or might not come true. Mrs Bee wouldn't you rather have 25% more coverage thats a GUARANTEE than a promise that might not come true . Do you want to gamble with what your family gets on some gimmick? My company is Guaranteeing you this . It pisses me off when company's hide behind high priced products by pushing gimmicks.

98%? Lol.....lol. I've got $1000 to your $1 that you can't replace 98% of my policies. Wanna take me up on it? If replacements were 98% then Lincoln Heritage would have either left the FE stage or raised their premiums or tightened underwriting. They still sell more FE than any other carrier. 98%....surely you jest. Maybe you have a typo there?

On another note, when are you going to add some positive value to the forum. All you seem to do is run around bad mouthing other opportunities. You never add any value.

 

[thomasm]

I agree 100% with your #2 and #3. For #1 I'd say 40-50 leads. Only 20-30 if you enjoy true live transfers from a FE TV commercial.

Those TV leads sound like the long lost Glengarry leads!

 

[theinsuranceman]

Other than you now sounding like a used-car salesman, you made my point in your 2nd paragraph. You were one of the managers advising agents to sell their clients Standard, because it paid more, when they otherwise qualified for Super Preferred and Preferred rates. Wouldn't it be more ethical of you to contract with another carrier where you get paid full commissions and not have to compromise your integrity, rather than not disclosing the rate a client actually qualifies for?

Those TV leads sound like the long lost Glengarry leads!

From my 21 years experience I can safely say TV leads are king of the hill for FE for closing %. They are more scattered apart like FB leads, except in metro areas, but they close so much better. People easily remember responding to the TV commercial 4 weeks later.

 

[BibH]

98%? Lol.....lol. I've got $1000 to your $1 that you can't replace 98% of my policies. Wanna take me up on it? If replacements were 98% then Lincoln Heritage would have either left the FE stage or raised their premiums or tightened underwriting. They still sell more FE than any other carrier. 98%....surely you jest. Maybe you have a typo there?

On another note, when are you going to add some positive value to the forum. All you seem to do is run around bad mouthing other opportunities. You never add any value.

What do you bring to the board? All you do is spam senior life 24/7 note after note after note. I talk about issues that happen in the field . Nobody wants to hear your bs.Your a slimy recruiter. Anyone who was with senior life for 2-3 yrs on this board out side Greg.answer this question. What level of commsion were you on and are you getting your renewals. I'm willing to bet anything they were making 80% fyc and 2-3% renewals and SL is not paying them squat. All I can do is speak for myself . If I run into sl or Lh its gone period .