LifePro in California

Aug 19, 2008

  1. Reuben
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    Reuben Super Genius

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    I'm wondering if anyone here has heard of "LifePro"? They're located in San Diego, and, amongst other things, offer free E&O insurance. The URL is www.lifepro.com

    Regards
    Reuben Dunn
     
    Reuben, Aug 19, 2008
    #1
  2. Mr. Bill
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    Mr. Bill Guru

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    They are (or were) the "chosen" FMO with Doug Andrew and the Missed Fortune group. I don't know what the affiliation is currently, but Doug and his sons have gone back into production. When I spoke with LifePro, they basically were touting that I would have to give up part of my commission if they did any work on the deal. Not quite certain what they were smoking. They already get an override, and for what? The advisors I know that were with LifePro at one time have moved on.

    That said, every IMO/FMO wants agents who produce. They all want the override. Ultimately it's up to you, the agent, to decide whether they're providing value to you or not. If it works, great, if not, move on.

    As Rick has stated many many many many many times before, you have to know how you're going to get OUT of the deal before you go in. If that is going to cause you to not write business with your favorite company for six months, then just be aware first. Also, find out in advance whether you will be able to have a writing number with that IMO/FMO and have a separate one for another, should you decide you need a change.

    Good luck to you!
     
    Mr. Bill, Aug 19, 2008
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  3. TheSalesWolf
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    TheSalesWolf Super Genius

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    I've used them for years and they were great.
     
  4. Mark
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    Mark Guru

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    I have only good things to say about about them. They are really good in the Annuity market also.
     
    Mark, Oct 26, 2008
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  5. slushhhpuppie
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    slushhhpuppie Super Genius

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    I've been with LifePro for a little over a year now.... Bill Zimmerman runs the joint. They *try* to operate as a Bisys (Crump) -esque operation, however I've found their case managment to be seriously lacking in the case management department. **Unless, as previously mentioned, you are pitching the "Missed Fortune" strategy, then they will be your best friend forever.

    By the way, a word on the "Free E&O and 'enchanced commissions'".... you only get these if you join the "Special Producers Club" - either commit $25k of business a year or pay a few hundred dollars to be a member. The "Free" E&O only applies to business you write through them.
     
  6. Marker77
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    Marker77 Expert

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    Life Pro and Bill Zimmerman are both top notch and professional. I used to, many years ago, go to some of their local meetings. They do provide good service and are a good place if you have some advanced case design with Life Insurance.

    There term commissions are lower than you can get with another MGA. They do pay well with their UL products. I have never used them for annuities but assume they are competive.

    I hope that helps.
     
    Marker77, Oct 29, 2008
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  7. tjackson
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    tjackson Expert

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    Agree with slushpuppie. Case management is not good. The one case I did with them this past year was a near disaster. They are very nice folks and sincerely want to help, but in this one area, imho, they need help.
     
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