Lincoln Heritage - what is their niche? Are they #1 as they say?

[bboman23]

Depends on the agent's IMO. If their IMO is setup for policies to be mailed to the client, they don't get that chance. Plus it is another step that the agent shouldn't have to do. If I pay for a lead and send you a client, you should not market to that client.

Just stating their practices for new agents that are reading.

 

[Biggin]

I wonder if a telemarketer was doing a "survey" could create a list of LH clients in an area........hmmmmm.......

Ever been done by anyone on the forum?

 

[myinsurebiz]

Not if you understand your product. You can write a much larger face amount for about the same money and take the same amount of paid up insurance in 10 years. Really works out better than a 20 pay..

With CFG - I can run basic illustrations that show the paid up options. When determining rates - I don't see how to do that with the other Carriers - LBL, Sentinel, Prosperity, SL, etc.

20 pays don't seem to make sense vs a 10 pay is what I see . . .

 

[myinsurebiz]

Not if you understand your product. You can write a much larger face amount for about the same money and take the same amount of paid up insurance in 10 years. Really works out better than a 20 pay..

So - I ran an illustration on CFG.

$75k face for $37.09 a month. 10th year paidup = $15,611 and 15th year paidup = $26,771.

LBL total premium for $25k = $4670.40 for a $25,000 death benefit.

CFG total premium at 15 years for a little more death benefit is $6676.20

Here is my question on the LBL? Does it continue to grow over the years since it is a SIWL policy?

 

[rousemark]

So - I ran an illustration on CFG.

$75k face for $37.09 a month. 10th year paidup = $15,611 and 15th year paidup = $26,771.

LBL total premium for $25k = $4670.40 for a $25,000 death benefit.

CFG total premium at 15 years for a little more death benefit is $6676.20

Here is my question on the LBL? Does it continue to grow over the years since it is a SIWL policy?

If you are talking about the face amount, no .. If you are talking about cash value, then yes it grows after the policy is paid up. You have to consider during the premium paying period, there is three times the coverage... Plus, if at the end of the period, if he needs to continue with the $75 he can at the same premium that it was in the beginning..

 

[myinsurebiz]

If you are talking about the face amount, no .. If you are talking about cash value, then yes it grows after the policy is paid up. You have to consider during the premium paying period, there is three times the coverage... Plus, if at the end of the period, if he needs to continue with the $75 he can at the same premium that it was in the beginning..

True on the 3x Face. Does that warrant a 30% extra premium paid for the same end result of $25k benefit?

On a 13 y/o - maybe just add in some ADB? Odds are not in favor of a healthy 13 y/o dying other than accident is there?

 

[rousemark]

True on the 3x Face. Does that warrant a 30% extra premium paid for the same end result of $25k benefit?

On a 13 y/o - maybe just add in some ADB? Odds are not in favor of a healthy 13 y/o dying other than accident is there?

Accidents at ages 10-20 make up about 1/2 of the deaths.. The other 1/2 are from other causes, including suicide and murder...

https://www.cdc.gov/injury/wisqars/pdf/10lcid_all_deaths_by_age_group_2010-a.pdf

 

[myinsurebiz]

Accidents at ages 10-20 make up about 1/2 of the deaths.. The other 1/2 are from other causes, including suicide and murder...

https://www.cdc.gov/injury/wisqars/pdf/10lcid_all_deaths_by_age_group_2010-a.pdf

Thanks . . .

Accident is #1 for many it seems.

 

[rousemark]

Thanks . . .

Accident is #1 for many it seems.

Yes as an individual cause but it is only a 50/50 chance when compared to all causes and even then what is classified as an accident on that list may nor meet the insurance definition.

 

[ccage]

I have heard both pros and cons about them, they have a ton of leads, good ones but a big turnover in agents. They want all there agents captive. And i some weird thing I have never heard of that, if you try leaving them somehow try to actually have you pay all your commissions back, which i don't even understand how that could be possible but, I heard it.