Lincoln Heritage Lead Program

[Todd King]

Thanks JD for the support on that.

I can say while I'm not happy to hear that for you, there is a part of me that is glad I'm not the only one (admittedly) that has signed a contract without reading it AND taking the time to understand it.

I have seen contracts that won't pay you if the amount will not equal $600+ per year, that's one of the worst, but understandable to a point...but never $250 per month!!

I deal with 70+ companies and don't know of one out there. Of course, there are many I've never seen. There may be worse out there.

I have to let you know though, my 1st month of not getting it was Feb '08...the amount was $249.??. I spoke with "B" in commissions and there was no way they would budge over those few cents! It was theirs and they were going to keep it!

I figure they need it more than I do...I'm glad I can help support such a fine and outstanding insurance company like them in an ecomony that has seen better days.

 

[insuranceexec]

Thanks JD for the support on that.

I can say while I'm not happy to hear that for you, there is a part of me that is glad I'm not the only one (admittedly) that has signed a contract without reading it AND taking the time to understand it.

I have seen contracts that won't pay you if the amount will not equal $600+ per year, that's one of the worst, but understandable to a point...but never $250 per month!!

I deal with 70+ companies and don't know of one out there. Of course, there are many I've never seen. There may be worse out there.

I have to let you know though, my 1st month of not getting it was Feb '08...the amount was $249.??. I spoke with "B" in commissions and there was no way they would budge over those few cents! It was theirs and they were going to keep it!

I figure they need it more than I do...I'm glad I can help support such a fine and outstanding insurance company like them in an ecomony that has seen better days.

Good to have you back on here, Todd. Where have you been?

 

[Todd King]

Doing busy work, what else?

Actually I've been very busy with agents and contracting and such.

I sure missed a lot didn't I?

 

[insuranceexec]

Doing busy work, what else?

Actually I've been very busy with agents and contracting and such.

I sure missed a lot didn't I?

You sure did. I am glad that you are back to help keep the troll's in line.........LOL

 

[MedSuppPro]

JD, What is an NAA lead?

It is clear to me that we all need to read our contracts. My experience with recruiting and training agents is they throw their contracts in a drawer and never read it.

This is one area that some of us have learned the hard way! Vesting language is a big deal. Bigger then releases.

Nothing will kill an honest agent faster than a ripoff contract!

 

[jdeasy]

JD, What is an NAA lead?

It is clear to me that we all need to read our contracts. My experience with recruiting and training agents is they throw their contracts in a drawer and never read it.

This is one area that some of us have learned the hard way! Vesting language is a big deal. Bigger then releases.

Nothing will kill an honest agent faster than a ripoff contract!

So true on the contracts. I learned an expensive lesson there. Not quite as expensive as the one I paid for with Parker and Asses, though.


NAA is National Agents Alliance. I know they get killed on here, but, I'm just staing my experience.

I wasn't involved in the MLM part of NAA. I was a producer that bought leads. That actually was my undoing with NAA since I wouldn't/didn't buy into the recruiting game.

 

[G.Gordon]

OP: The most important thing you can take from this thread: READ THE CONTRACTS CAREFULLY AND TAKE THEM AT THEIR WORD AND DON'T LET A SMILING MANAGER TELL YOU IT DOES NO APPLY TO YOU.

 

[Frank Stastny]

I probably sound like a "broken record" but I still believe that selling FE is so much easier when it is cross sold to Med Supp clients.

They don't have to spend any "new money" to pay the premium, they all have checking accounts and they keep the policies that are sold to them.

As an independent agent you should expect a contract for 100% to110% commission. This will at least let you double your Med Supp commission in most instances.

 

[Newby]

I wouldn't think the LH stiffing you on non-active agents would be too much of a problem since you can just go back and help those clients get into a better priced company. That way LH won't have to screw with the renewals anyway.

 

[jdeasy]

I wouldn't think the LH stiffing you on non-active agents would be too much of a problem since you can just go back and help those clients get into a better priced company. That way LH won't have to screw with the renewals anyway.

I have only replaced a handful of my LH policies and every case was where the person called me. LH threw a fit on everyone of them and threatened to take me to court and to demand repayment of all past commissions.

They also sent a a nasty letter to those that did replace and then they sent an untruthful letter to every single one of my clients. That kinda backfired on them as I got plenty of call because of that letter.

I'm sure that they could not make their claims stick in court, but, going to court and winning would cost me much more than they owe me. That is, obviously, their game. They know an independent agent cannot afford to take them on in court.

I know of another LH agent in Texas that they sent the same disparaging letter to all of his clients. He was going to sue them, but, was discouraged from doing so. I know of another LH agent here in Ky that is scared to do anything with LH clients because of the threats they made to me. He won't even replace a LH policy that was written by someone else out of fear that they will claim collusion.

Their scare tactics have worked. I'm sure they are quite proud of that.