- Thread starter
- #21
Life vs Health?
- Thread starter redzalez
- Start date
- 10,275
Yes, health. That's just the way it's set up where I work. But apparently, we get a pretty good percentage. I think John told me we are a "preferred writer" or something like that.
- 2,152
Most cases Life is a more straight forward product of course some products can be complicated. All in all I find that life is easier to understand and package than Health.
- Staff
- #24
- 2,152
Yet most of the population have Major Medical covered via employment while most do not have anything close to sufficient Life coverage via employment.
- 14,808
I agree with you James - the need is far greater for life and if a proper assessment was done well over 80% (if not more) of the population doesn't have the correct life insurance or none at all.
That being said, health is simply easier to market and sell. Yes, the market is thinner; only self-employed, people who work for small companies with no bene's or companies that charge a fortune to add the family. Still easier to market and sell and the underwriting is easier.
That being said, health is simply easier to market and sell. Yes, the market is thinner; only self-employed, people who work for small companies with no bene's or companies that charge a fortune to add the family. Still easier to market and sell and the underwriting is easier.
- Staff
- #27
and in most case's are paying way to much for benefits they are and are not using......I have lot of case's that I have pull husband ,wife and kids off group plans saving family's $200 to $400 a month in prem. dollars.....
- 14,808
True. Unless you're working for Google you're paying 100% of the cost to add your family.
- 2,152
I don't see how marketing life is any harder than health? While underwriting may be easier with health but the effect of the underwriting has far greater implications with health than it does with life. In life you may have a bit of a rating causing a small increase of premiums, with health though you get those pesty Exclusions and out right Denials, which are not pleasent do deal with, at least IMHO. The very same people you pick to market too as the best can also be the best prospects for life insurance also and can be marketed in the very same fashion with life marketing. Yet though, generally speaking you'll have to sell 3-5 health contracts to match one life contract, dollar for dollar that is now just speaking in generalities of course depending on a lot of factors. Yet most Contiunation workups will involve a fairly large DB for proper coverage of an owner, even in the smallest of endeavors.
I can see your point here, this is simply a wedge issue one should be able to use quite effectively in selling the health contract.
- 14,808
Don't agree. Just got a deal approved yesterday, 60 year old male with high blood pressure and sleep apnea. Got 25% increase and a condition specific deductible. Go attempt to write him life and see what happens.
