Lincoln Heritage Agent.

[risingstarlife]

I have a good friend of mine who works for lincoln heritage. He just informed me that he was told by his managers that pretty soon lincoln will be discontinuing there prefferd program. But they will be increasing there final expense to 50,000. Any thoughts ?

 

[Newby]

I have a good friend of mine who works for lincoln heritage. He just informed me that he was told by his managers that pretty soon lincoln will be discontinuing there prefferd program. But they will be increasing there final expense to 50,000. Any thoughts ?

Yes. They have been very good to me.

Did they fire that one agent that sold that one preferred rate policy?
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Can you imagine going into a house that that just bought two $50,000 Lincoln Heritage policies all loaded up with the Funeral Consumer gizmo?

I don't think my heart could take that much excitement.

 

[b61mack]

The main problem with LH is the rate goes thru the roof as it increases. I think the "agent" would need oxygen, when he looked up a 50k FE rate. LH clients are low 3-5k. Even at that they struggle to pay. If an agent sells perferred, i think your commission is cut in half. The good about LH is training, can write 99.9% of clients, lead financing and you are not captive, at least not in pa/nj. The bad is the rates, and commission levels, they try to start you off at 60%, but you can get 80%. It is only good as a place to start, not a career move.. If you start at 60%. you will work and make no money.

 

[gordon112]

The main problem with LH is the rate goes thru the roof as it increases. I think the "agent" would need oxygen, when he looked up a 50k FE rate. LH clients are low 3-5k. Even at that they struggle to pay. If an agent sells perferred, i think your commission is cut in half. The good about LH is training, can write 99.9% of clients, lead financing and you are not captive, at least not in pa/nj. The bad is the rates, and commission levels, they try to start you off at 60%, but you can get 80%. It is only good as a place to start, not a career move.. If you start at 60%. you will work and make no money.

They have encouraged the agents to NOT write the preferred business for a long time by giving them half the commission they would otherwise get for standard. It doesn't surprise me that they would be dropping it.....
***waiting for MGA to come on here and say all those wonderful things about those "super duper preferred rates"!

 

[jdeasy]

They have encouraged the agents to NOT write the preferred business for a long time by giving them half the commission they would otherwise get for standard. It doesn't surprise me that they would be dropping it.....
***waiting for MGA to come on here and say all those wonderful things about those "super duper preferred rates"!

They only cut my commission by 5 points on the preferred when I had it. Where they really cut commission was on payments from a savings account and on direct monthly bill.

My upline said he did not ever write the preferred and really "encouraged" his downline to not write it either. Not that it was an issue. It's is so restrictive on underwriting that it's almost worthless anyway.

 

[gordon112]

They only cut my commission by 5 points on the preferred when I had it. Where they really cut commission was on payments from a savings account and on direct monthly bill.

My upline said he did not ever write the preferred and really "encouraged" his downline to not write it either. Not that it was an issue. It's is so restrictive on underwriting that it's almost worthless anyway.

Yes, I remember my manager saying about the same thing, he never wrote it and encouraged us never to write it.