Lincoln Heritage
- Thread starter mswebb06
- Start date
Cofie
Expert
jdeasy & Newby
I've been reading some of the earlier postings on this thread dated '08 & '11. I noticed a lot of talk about high premiums and costly leads. Now that we are in 2013, 5 years later...
*Has LH improved their premiums?
*What is the current pricing on their leads?
*How much should a beginner plan for a lead budget?
I've been reading some of the earlier postings on this thread dated '08 & '11. I noticed a lot of talk about high premiums and costly leads. Now that we are in 2013, 5 years later...
*Has LH improved their premiums?
*What is the current pricing on their leads?
*How much should a beginner plan for a lead budget?
- 17,078
Lincoln Heritage has raised their premiums even more. But so have several other companies.
They are still priced way too high on most cases. They are OK on males that smoke in certain age ranges. I wouldn't use them for females or non-smokers at all.
The key is to have several companies and use the company that gives good value on each appointment. Don't use any one company exclusively or many of your policies will be targets for replacement. A lot of new agents will buy in to a recruiter's sales pitch that the agent can sell everyone the Lincoln policy and the funeral consumer gimmick will be strong enough to make people not worry about how much higher they are paying for the insurance. That's smoke and mirrors.
You don't want to buy leads that run through your upline manager first either. You want to buy leads that you get direct from a lead vendor and you are able to sell with any company you choose.
Also make sure you are 100% vested from the very first day. Don't build a business that isn't vested for a year or more later. That's how upline managers steal your renewals.
Read more at http://www.fexcontracting.com lot's of good info for new agents to avoid pitfalls on there.
- 19,673
They improved their premiums. For the company, they raised them.
From what I hear they have also raised the price of their leads considerably and they were already overpriced and the worst leads I ever worked.
Just one example of their pricing and underwriting. I met with a guy yesterday that had just taken out an LH policy. $5000 face for $58/mo. And it was a two year wait. I got him immediate coverage almost $15,000 for $60/mo.
Now, I normally can't beat LH that badly. If the LH guy had been able to put him an immediate benefit plan I could have beaten the price by $20/mo. That means they were still 30% higher.
That's why I told you in the other thread to sign up with LH and sell north and west of Murfreesboro. That would put you in my area and I would love to find some more LH policies out there.
Not just on price. It's also underwriting. They had that guy on a modified plan. I had 4 companies that would give him an immediate benefit. He is a snuff user so I put him with a company that treats that as non tobacco. actually that means that earlier figures were off. If LH would have done immediate for him they would have called him a tobacco user so it would have been almost $40/mo higher.
Then there is the issue of their contract where they take your renewals when they fall to a certain level, even if vested.
But we told all of this to another poster here a few months ago and she signed up with them anyway. Some lessons have to be learned.
From what I hear they have also raised the price of their leads considerably and they were already overpriced and the worst leads I ever worked.
Just one example of their pricing and underwriting. I met with a guy yesterday that had just taken out an LH policy. $5000 face for $58/mo. And it was a two year wait. I got him immediate coverage almost $15,000 for $60/mo.
Now, I normally can't beat LH that badly. If the LH guy had been able to put him an immediate benefit plan I could have beaten the price by $20/mo. That means they were still 30% higher.
That's why I told you in the other thread to sign up with LH and sell north and west of Murfreesboro. That would put you in my area and I would love to find some more LH policies out there.
Not just on price. It's also underwriting. They had that guy on a modified plan. I had 4 companies that would give him an immediate benefit. He is a snuff user so I put him with a company that treats that as non tobacco. actually that means that earlier figures were off. If LH would have done immediate for him they would have called him a tobacco user so it would have been almost $40/mo higher.
Then there is the issue of their contract where they take your renewals when they fall to a certain level, even if vested.
But we told all of this to another poster here a few months ago and she signed up with them anyway. Some lessons have to be learned.
Cofie
Expert
Thanks guys
This is excellent info and I will be printing these posts to keep in my notes.
This is excellent info and I will be printing these posts to keep in my notes.
- 501
I have been with LH for many years. Just LH. I have never worked with another company. It has been a pleasure working with them over the years. I have made a great living and I am very happy
- 19,673
I have been with LH for many years. Just LH. I have never worked with another company. It has been a pleasure working with them over the years. I have made a great living and I am very happy
Then you have no information to offer other than the company line. It should also be noted that you recruit for that same company so you are certainly not unbiased.
At least you do admit to being uninformed.
+1 ..I still haven't found any LH agents that are still working with the company more then 6months or so. That should tell you everything you need to know.
Only managers are on here to spew positive spin about LH.
Sounds like busy work.. Time might could be much better spent in front of a prospect.
- 501
Yes I do hire agents locally. I didn't start recruiting until Jan 2012. I personally produced for over 7 years before I recruited a single agent. I don't see why that matters. Manager or not I still produce.
I do only know about LH. Because that's the only company I work for. That's why I comment when people ask about LH. Because that's all I know.
And what's with the "company line" thing today JD. I am unfamiliar with this "line " you keep referencing.
And I always try to keep my posts positive regardless of who I am talking about or to.
I might not be old and grumpy enough for you guys
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