Lincoln Heritage

[jdeasy]

If LH doesn't have the highest rates, I would like to know who does. I wrote them for over 2 years and I know they were not competitive with anyone in this area.

The FCGS is a good benefit, but, only once the policy has been in effect for 2 years. Before then, it is worthless. That's one thing the LH agents neglect to tell people. All they did here was make money because almost no one kept their policies for 2 years. It doesn't take most people 2 years to find out they are paying too much.

If the OP is still considering getting into the FE market, they should really go independent and offer the truly best companies.

 

[dlj2626]

I actually am considering doing with business with Lincoln Heritage but I was up-front and honest with them and told them I will be helping people with other lines of business besides Final Expense. However, I would like to have only one or maybe two companies for final expense. Plus I do like the fact that they write policies starting at age 0. Which is great bacause most start at age 45 or 50.

I would like to hear from someone on here that currently writes or wrote for Lincoln Heritage in the past to get some honest opinions.

 

[HomeService]

There are tons of companies who write smaller whole life policies starting at age zero. This is actually my market. Lately, some companies have just made a niche market out of final expense and they call it like "senior simplified life" or something, but prior to this trend, smaller whole life policies were always for younger folks. The trend has been ongoing for 15-20 years or more, to write smaller whole life on only the seniors, and term on the youngsters-- but it does not have to be that way. I am old school. Check out Columbian Mutual out of NY.

 

[dlj2626]

There are tons of companies who write smaller whole life policies starting at age zero. This is actually my market. Lately, some companies have just made a niche market out of final expense and they call it like "senior simplified life" or something, but prior to this trend, smaller whole life policies were always for younger folks. The trend has been ongoing for 15-20 years or more, to write smaller whole life on only the seniors, and term on the youngsters-- but it does not have to be that way. I am old school. Check out Columbian Mutual out of NY.

I was mainly referring to the Graded Benefit or Modified type policies starting at age 0. I will check out the company you mentioned.

 

[Johnnyboy29073]

I actually am considering doing with business with Lincoln Heritage but I was up-front and honest with them and told them I will be helping people with other lines of business besides Final Expense. However, I would like to have only one or maybe two companies for final expense. Plus I do like the fact that they write policies starting at age 0. Which is great bacause most start at age 45 or 50.

I would like to hear from someone on here that currently writes or wrote for Lincoln Heritage in the past to get some honest opinions.

I rep Lincoln and 5 others as of the moment and here are my views:

Your agency is the key. Rely on the agency to answer every possible question about LH, rely on their AZ office only for what the agency can't answer.

The product is not the most inexpensive on the market nor is it the most expensive.

The mail leads are average, at best. Lots and lots of disconnected phone numbers ( a deal-killer for me)

The TV leads are great, with an extremely high closing ratio.

UW is fairly quick and only on the Preferred product is a pain-in-the-ass phone interview required. I will tell you they have written cases other carriers I rep would not have.

At the end of the day, it will be your agency that will be the driving factor, past your own efforts, obviously.

If you want to PM me on this, feel free.

 

[WinoBlues]

I have been in business a long time. How many Graded and Mod clients below 50 do you run into? I think you will not find that many, to justify writing the STD clients into LH to expensive and easy to replace. I have looked at them for their guaranteed product. Just can not get past their reputation with agents that have used them and their leads.

Of course there are some sleazy agents that write all their customers as graded or modified. They are the bottom feeders of this business. A certain type of agent that writes for a certain type of company.

An option for Graded down to 0 is United Heritage Life. Great little company. Great to the client and the agent. But you can beat them on price.

Just my 2 cents.

I was mainly referring to the Graded Benefit or Modified type policies starting at age 0. I will check out the company you mentioned.

 

[sshafran]

I actually am considering doing with business with Lincoln Heritage but I was up-front and honest with them and told them I will be helping people with other lines of business besides Final Expense. However, I would like to have only one or maybe two companies for final expense. Plus I do like the fact that they write policies starting at age 0. Which is great bacause most start at age 45 or 50.

I would like to hear from someone on here that currently writes or wrote for Lincoln Heritage in the past to get some honest opinions.

I currently write for them whenever they are the best choice for the client. It doesn't happen often...but it does happen.

I would not buy their leads.
Seeing as you just want two companies, I would do the following:
1. I would contract with a strong FE company to use as your "go-to" company. Search the forum, there are a lot of good ones recommended. RNA and Foresters seem to be liked the best, but there are a TON of FE companies. I think I'm contracted with too many...
2. I would contract with a second company, like LHLIC, for the cases where your stronger company won't issue.

I currently carry 7 different companies with me at all times and I have excel set up to quote all 7 companies at the same time. I also set it up to quote on my iPhone.

Their 2-questions-asked to determine insurability 15-Pay modified is occasionally the best option. Especially when the client wants monthly direct bill! But, I don't run into this too often...

 

[dlj2626]

I have been in business a long time. How many Graded and Mod clients below 50 do you run into? I think you will not find that many, to justify writing the STD clients into LH to expensive and easy to replace. I have looked at them for their guaranteed product. Just can not get past their reputation with agents that have used them and their leads.

Of course there are some sleazy agents that write all their customers as graded or modified. They are the bottom feeders of this business. A certain type of agent that writes for a certain type of company.

An option for Graded down to 0 is United Heritage Life. Great little company. Great to the client and the agent. But you can beat them on price.

Just my 2 cents.

I was looking mainly for a graded benefit policy starting at age 0 because I have ran into situations in the past when that was all I could write. I used to work for one company before and their modified policy started at age 0. Now that I am getting back into this business it has been hard finding a company that starts at age 0. Lincoln Heritage seems to be the only one I can find at the moment that offers that.

Thank you for the advice thus far from everyone. Much appreciated.

 

[WinoBlues]

Cool.

I have nothing against the company. I would write them if they were the best choice for the client. Mod down to 0 could be the best some people can get. I hear MoO is also. Not sure.

I have heard tons of horror stories about agent balances and GA/managers screwing their agents. So beware. I would never be contracted to them. I maybe would sell a policy here or there if it fit.

I am not a FE specialist, but if I can be of any help, Shout out.

I was looking mainly for a graded benefit policy starting at age 0 because I have ran into situations in the past when that was all I could write. I used to work for one company before and their modified policy started at age 0. Now that I am getting back into this business it has been hard finding a company that starts at age 0. Lincoln Heritage seems to be the only one I can find at the moment that offers that.

Thank you for the advice thus far from everyone. Much appreciated.