Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
question what does Settlers do that others don't, i don't know just asking
question what does Settlers do that others don't, i don't know just asking
I Sold 62 Final Expense Life Insurance Policies My 1st Month Lic.
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- 17,073
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
Single pay, 10 year pay, 20 year pay, lifetime pay choices
Child rider optional
Accidental rider optional
Living benefits rider included
Monthly bill available
Funeral Trust optional FREE
Estate Planning Trust optional FREE
Good rates
Some of the best renewals in the industry
Excellent application and brochures
Single pay, 10 year pay, 20 year pay, lifetime pay choices
Child rider optional
Accidental rider optional
Living benefits rider included
Monthly bill available
Funeral Trust optional FREE
Estate Planning Trust optional FREE
Good rates
Some of the best renewals in the industry
Excellent application and brochures
- 397
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
I agree with everything you outlined. I wrote one policy with them over a year ago and had a problem with UW. They approved the policy as applied for, that wasn't the problem. The problem I had was procedural. First, it took several weeks before the policy was issued (not what I would call fast underwriting). Then, several months later (well after policy issue), an underwriter called my client at 7:00am to discuss a heart issue that was fully disclosed and explained on the original application. The underwriter explained that it just appeared on an MIB and that is the reason for the call.
After that fiasco, I would be VERY reluctant to use them again.
I agree with everything you outlined. I wrote one policy with them over a year ago and had a problem with UW. They approved the policy as applied for, that wasn't the problem. The problem I had was procedural. First, it took several weeks before the policy was issued (not what I would call fast underwriting). Then, several months later (well after policy issue), an underwriter called my client at 7:00am to discuss a heart issue that was fully disclosed and explained on the original application. The underwriter explained that it just appeared on an MIB and that is the reason for the call.
After that fiasco, I would be VERY reluctant to use them again.
- 717
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
I never sold final expense...always thought it was a waste of time compared to selling term life, ul, etc..
$258,000 in annual premium/446 apps = $578 average premium per policy...seems like it would be a lot of hassle for very little money.
what's a typical commission on this type of sale?
I never sold final expense...always thought it was a waste of time compared to selling term life, ul, etc..
$258,000 in annual premium/446 apps = $578 average premium per policy...seems like it would be a lot of hassle for very little money.
what's a typical commission on this type of sale?
- 397
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
For independent agents, typical 1st yr commissions range from 90%-125% (depending on the FMO and carrier). Renewals should avg around 8%-10%, some higher, some lower.
For independent agents, typical 1st yr commissions range from 90%-125% (depending on the FMO and carrier). Renewals should avg around 8%-10%, some higher, some lower.
- 17,073
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
They are proud of their record as the SLOWEST company in issueing FE policies. They do take several weeks. But I never heard of them looking back at issued policies.
I did have a different very popular FE company issue a policy and then go back a month later and cancel it due to looking further into the MIB records. It was the crazyest excuse I ever heard from a company too. They thought that all agents wanted their commissions FAST so they were experimenting with approving everything within 2-days and paying the agent but then SPOT checking 1 out of 10 of the apps AFTER the fact and canceling the policy if they had a problem. GENUISES?
They had assured me they will NEVER try that one again with any one so I won't say the name. It's just crazy what some of these home office people think up.
I agree with everything you outlined. I wrote one policy with them over a year ago and had a problem with UW. They approved the policy as applied for, that wasn't the problem. The problem I had was procedural. First, it took several weeks before the policy was issued (not what I would call fast underwriting). Then, several months later (well after policy issue), an underwriter called my client at 7:00am to discuss a heart issue that was fully disclosed and explained on the original application. The underwriter explained that it just appeared on an MIB and that is the reason for the call.
After that fiasco, I would be VERY reluctant to use them again.
They are proud of their record as the SLOWEST company in issueing FE policies. They do take several weeks. But I never heard of them looking back at issued policies.
I did have a different very popular FE company issue a policy and then go back a month later and cancel it due to looking further into the MIB records. It was the crazyest excuse I ever heard from a company too. They thought that all agents wanted their commissions FAST so they were experimenting with approving everything within 2-days and paying the agent but then SPOT checking 1 out of 10 of the apps AFTER the fact and canceling the policy if they had a problem. GENUISES?
They had assured me they will NEVER try that one again with any one so I won't say the name. It's just crazy what some of these home office people think up.
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
Don't concern yourself with other companies prices, because only THEY know what their products are actually worth. If you believe that you are selling a superior product, and it cost more than the competitors, keep selling it and never look back.
It cracks me up how many agents post how ethical they are on this forum. If I represent company A, and I am talking to a client, and I know company B has lower premiums, should I sell them my product, or write down directions to company B for them.
Nobody in this business sells the lowest price product everytime. If you say you do, and you know who your are, you are probably a liar. Get over yourself....
Don't concern yourself with other companies prices, because only THEY know what their products are actually worth. If you believe that you are selling a superior product, and it cost more than the competitors, keep selling it and never look back.
It cracks me up how many agents post how ethical they are on this forum. If I represent company A, and I am talking to a client, and I know company B has lower premiums, should I sell them my product, or write down directions to company B for them.
Nobody in this business sells the lowest price product everytime. If you say you do, and you know who your are, you are probably a liar. Get over yourself....
- 15,041
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
I would be curious to know how they can cancel after the fact? I didn't think that was possible with life insurance. Were they contesting it? How would that stand if the application was correctly filled out?
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This thread has been amusing. I've never heard anything positive about LH, but this guy sold 62 policies in one month. How long does it take the typical FE agent to do this, 3 months, 6 months? JD earlier posted that he sells what, 300 in a year? This guy could do it in half a year if he can keep up the pace.
You can pick on his choice of company, but I'd be more focused on learning his techniques and process.
I would be curious to know how they can cancel after the fact? I didn't think that was possible with life insurance. Were they contesting it? How would that stand if the application was correctly filled out?
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This thread has been amusing. I've never heard anything positive about LH, but this guy sold 62 policies in one month. How long does it take the typical FE agent to do this, 3 months, 6 months? JD earlier posted that he sells what, 300 in a year? This guy could do it in half a year if he can keep up the pace.
You can pick on his choice of company, but I'd be more focused on learning his techniques and process.
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- 1,930
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
Ouch! trouble sleeping at night? Sounds like you make your own kool-aid and drink it too.
Ouch! trouble sleeping at night? Sounds like you make your own kool-aid and drink it too.
- 17,073
Re: I Sold 62 Final Expense Life Insurance Policies My 1st Month
I'm glad you aren't my agent.
Why be an independent agent if it isn't to offer better value to your clients?
You don't need to be to the penny cheapest but you better be in the area.
I'm glad you aren't my agent.
Why be an independent agent if it isn't to offer better value to your clients?
You don't need to be to the penny cheapest but you better be in the area.
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