Lincoln Heritage Premium

[jdeasy]

They don't get much isued and they don't want much issued. They cut the agent's commission for writing it. That's to encourage agents to not write it.

Every manager I ever spoke with at LH said flatly that they did not want that business.[/quote]

But the mgr.'s overwrite is the same with any of the apps. Both the mgr.'s contract and the agent's contract drop by the same # of percentage points, so the mgr.'s overwrite is still the same % no matter which app the agent uses.

I'm sure you know more about that than I do. I just know what they said. My direct upline was in the field and he said he would not write it himself.

 

[nfl72]

I asked the question because I was surprised at what I found. I went to a lead on the premise of doing a Free Look. If I couldnt save him any money or get him a better policy no harm no foul and I would be on my way.

He had the LH policy that was about 9 months old and he was paying $67 per month. I wrote him a Foresters plan right level at $79. For only 12 more dollars per month he was getting all the wonderful Foresters benefits. He was especialy excited because he was trying to get his drivers license re instated and thought the legal link might help.

The competitiveness of the LH policy did surprise me though.

 

[WinoBlues]

I asked the question because I was surprised at what I found. I went to a lead on the premise of doing a Free Look. If I couldnt save him any money or get him a better policy no harm no foul and I would be on my way.

He had the LH policy that was about 9 months old and he was paying $67 per month. I wrote him a Foresters plan right level at $79. For only 12 more dollars per month he was getting all the wonderful Foresters benefits. He was especialy excited because he was trying to get his drivers license re instated and thought the legal link might help.

The competitiveness of the LH policy did surprise me though.

You rewrote it so that he could pay $144.00 a year (Xs forever ) more for benefits he may/probably would not use. Nice.

 

[GreenSky]

You rewrote it so that he could pay $144.00 a year (Xs forever ) more for benefits he may/probably would not use. Nice.

I think you and I should learn how to convince people that they should take a screwing and be happy about it.



I bow down to the greater salesman.

Rick

 

[WinoBlues]

I think you and I should learn how to convince people that they should take a screwing and be happy about it.

Kevin Bacon - Fraternity Paddle - YouTube

I bow down to the greater salesman.

Rick

I have been married a long time. I think I will work on understanding quantum physics first.

 

[RonRoberts]

I think you and I should learn how to convince people that they should take a screwing and be happy about it.

Kevin Bacon - Fraternity Paddle - YouTube

I bow down to the greater salesman.

Rick

I want in on some of that action. I guess I'm tired of being Mr. Nice Guy that is always putting the client first.
BTW, I am going to be calling you next week Rick...I am ready for some of your genius intelligent mentoring.

 

[Newby]

Every claim that I have ever filed in the last 6 years lincoln has paid. Nearly all died within th frist couple years.
- - - - - - - - - - - - - - - - - -

I sign people up that are taking blood pressure meds for preferred all the time. Yesterday I got a guy approved on blood pressure meds with a blood pressure of 150/90.
This may vary by state though. Rates also.

Every CONTESTIBLE claim I have ever filed with them (and there have been several) has been declined. So where does that leave us?

I'm not saying these should have been paid. I'm saying they should never have been sold to start with.

What % do they pay company wide? Do they ever talk about that number?

 

[nfl72]

"I sign people up that are taking blood pressure meds for preferred all the time. Yesterday I got a guy approved on blood pressure meds with a blood pressure of 150/90.
This may vary by state though. Rates also."



Am I missing something here? Are you telling me you have to do blood pressure readings to get them approved at LH?




Read more: Lincoln Heritage Premium - Page 5

 

[Newby]

I have never asked LH that question directly. But the agency that I work for (golden memorial insurance services) track the % of claims that are paid each year. Last year LH paid 98% of the claims we filed. That includes the ones that were contestible. The handful of claims that didn't get paid were contestible. One of my agents had a contestible claim that wasn't paid last year. It was because the client blatantly lied on the application. They had 16 heart attacks in the last 2 years and told the agent and the company they were in perfect health.
You should really verify the info people give you about their health because LH doesn't do any type of medical check on Final Expense unless they die in the first two years. A lot of people try to lie for lower rates. I have to make it very clear to the clients that the claim will not be paid if they lie.

That's sort of my point. If LH doesn't check anything and you KNOW there are agents abusing that left and right, I would have to think they don't pay a lot of their death claims.

I personally handled a death claim for a man that I knew had been bedriden AND was on kidney dialasis for the last 5-years of his life. He had a 1-year old LH policy.

I had another that I came in behind and the client had a melenoma removed 3-months before he bought the policy. The agent told him that was OK. It wasn't.

LH isn't the ONLY company with these problems but they are full of them. I would have to think that the policies where a non-accidental death is within 24 months are rescinded at least 50% of the time. I have no way of knowing though. I don't think they advertise those numbers.

 

[nfl72]

I learned years ago while working in the car business there is only one sure time when your client is not lieing. Its when his lips aren't moving..

Its not my job to catch the client in a lie about his health.