- 5,938
It you are running a business, the bottom line is an important to keep track of... and the habit of always using the lowest commission carrier is not a good one.
KSKJ FE App
- Thread starter DiegoInsGuy
- Start date
It you are running a business, the bottom line is an important to keep track of... and the habit of always using the lowest commission carrier is not a good one.
- 17,077
Yes exactly! But the flipside would be that the cases that you have to use them for you would not get it all without them. That's the whole point. So you would make less money by not having them than you make by having them.
- 4,130
I think it's a matter of perspective but what business will they take that nobody else will? And does that make up for the 20% overall reduction you would get using them versus anybody else.
No doubt it's the best product on the market but it's a worthwhile discussion to have .
No doubt it's the best product on the market but it's a worthwhile discussion to have .
- 17,077
Think of it this way. You just got to your appointment and they have COPD or Parkinsons or some other condition that usually goes standard. And they bought a $15,000 policy last month that accepts the condition. But they are still mailing in lead cards because they want to know if they can get a better rate.
Or same situation but they are in generally good health. They had a heart attack 4 years ago. Little touch of the diabetes and take metformin. They bought any of the mid-priced FE companies. But they are still mailing in lead cards to see if they can find a better price.
Do you walk away and make zero? Or do you settle for 100% and make something?
And of course on those graded cases 100% is one of the highest commissions that has a decent rate and true graded coverage.
I'm agreeing that you don't HAVE to have KSKJ. But the argument that by having them you make less is flawed. You make more. It doesn't affect you on the cases where you don't write them. And on the cases you do you make a sale where you couldn't before.
- 4,130
No disrespect but that's never happened to me.
The times an agent used KSKJ to replace me, he did a MA apt and FE same visit, the other was a 1.5yr old LBL. I saved both.
- 5,976
I saved a year old LBL policy from a KSKJ replacement a few months back. The client just passed away a two weeks ago and of course it is still in the contestable period. We'll see if I'd have been better off letting it go. I am hoping LBL pays the claim. It would have been just a two or three month old policy with KSKJ - would they have been any more or less likely to pay the claim than LBL?
FWIW, I get the talk of the 20% comp hit, but in the end I'm going to feel like $hit if this client's wife doesn't get the death benefit.
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- 17,077
Yes that's always a tough spot to be in. But I think if the case was clean both Liberty Bankers and KSKJ seem to be good about paying contestible claims over certain others who always seem to find a reason not to.
Hindsite is always 20/20. Would have been nice to let the new agent sweat that one out.
- 17,077
I'm a big believer in "If it ain't broke, don't fix it." If you never run into cases where having a lower price would have made the sale then you don't need take the lower commission.
- 4,130
I've been writing a mix of...
Am Memorial
Am Am
Trans
Omaha
But FBL is for sure my ace in the hole. Do I use it often? No but it comes in handy when it's a deal breaker ex, complicated health, etc.
I don't believe you HAVE to sell the cheapest, be within $7-10/m of Trans and you'll be fine.
Am Memorial
Am Am
Trans
Omaha
But FBL is for sure my ace in the hole. Do I use it often? No but it comes in handy when it's a deal breaker ex, complicated health, etc.
I don't believe you HAVE to sell the cheapest, be within $7-10/m of Trans and you'll be fine.
- 5,938
When it comes to dealing with trans and dealing with KSKJ, I don't mind the commission hit to not give Trans another opportunity to raise my blood pressure!
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