Is there any plus side to contracting with Lincoln heritage as a captive agent? I'm new to FE but not the insurance business. I have been approached with 60% contract . 40% for modified policies. Is this anywhere close to industry standard? Plus leads at $30+. Thanks. Great forums!! Learned a lot here.
Lincoln Heritage Question
- Thread starter Falcon52
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I'm new too, but I would say read that 'my first month at equita' thread. Their leads are cheaper, you'll get better rates for your clients and higher contracts for yourself.
60% is low, low, low... But a more important question is what do the renewal years pay, when do you become vested and for how long? You are taking on heck of a hit on commissions plus they are charge at or near retail for the leads? No wonder some of the L&H managers come on here bragging about how much money they are making.. The overwrite they are earning on their agents is close to grand larceny. (As an agent that doesn't recruit, my first year rate varies (based upon the company) from 105% to 125% first year. Up to 15% renewals with immediate vesting... That should give you some idea what your upline is taking from your contract)
If I make twice as much first year commission, I can purchase a bunch of $30+ leads and still come out ahead.
You also might want to take into consideration that LH has some of the highest rates in the industry.
Having said that, I want to add that I hate that you picked today to start a new LH thread I am out of popcorn and the show is about to start. Do a search of the old LH threads and you will see what I am talking about.
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I probably bash LH as much as anyone and I did work for them at one time.
A new agent could do much worse that starting with LH. Some of the teams have good training and they do have leads. Now the LH leads are the very worst I've ever worked but they do have them
However, find a different upline if you do decide to go with them. They offered me 95% from day 1. I ended up higher but that was 1st offer.
The very least you should get as a newbie is 80% and that's if you need much handholding. Offering you 60% is an insult.
Do not go to to LH as a career stop. Just treat it as tuition.
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I have a contract with LH and it is at 146.5% with renewals of 36.25% for the first ten years.
Last month alone I wrote $87,345 in yearly premium. My manager said if I keep it up I might be the agent of the week some day.
Working with Lincoln Heritage is a dream come true. I feel like I died and went to Heaven. In fact most of my leads don't even ask any questions, they just write me checks. Most of them even drive to my office.
LH has so many leads that they pay me $35 per lead just to work them. Otherwise they tell me they will just go to waste.
Last month alone I wrote $87,345 in yearly premium. My manager said if I keep it up I might be the agent of the week some day.
Working with Lincoln Heritage is a dream come true. I feel like I died and went to Heaven. In fact most of my leads don't even ask any questions, they just write me checks. Most of them even drive to my office.
LH has so many leads that they pay me $35 per lead just to work them. Otherwise they tell me they will just go to waste.
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Assuming this is a real post.
If you need/want the training I would look at a different LH shop as JD suggested. These guys are hosing you before you even start.
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I've been a LH agent. You are being riped! Don't settle for this offer.
60% and FREE fresh leads may be OK but not 30 dollar leads.
JD is right, the right management or upline will make the difference for you.
60% and FREE fresh leads may be OK but not 30 dollar leads.
JD is right, the right management or upline will make the difference for you.
