Lincoln Heritage

[Prtzl]

Dave Duford offers premium training packages for agents with a low level com rate(80%)

Agent 5 was once captive and used his experience of being chained to a desk/office/mgrs as the most beneficial part of his growth within this industry.

Same with SpurCity - when comparing Dave D format and extremely low com rate - he used his CAPTIVE Status to draw the importance of immediate support/training and the necessity to accept a huge reduction in street level pay as a new rep.

First Q - Is Dave Captive? If not, why use Captive stories to support his low level street commissions, and hislevel of training anyone can get online, as priceless?

Why bash Lincoln Heritage? They offer everything Dave's offering in fact much more!

Dave did an interview with a long time producer who licks the boots of LH.

Whats wrong with LH? You have DD Heritage on here?

 

[FinalExpenseDojo.com]

Difference is you can earn higher comp through production with Dave.

With LH, you're chained to a low comp & expensive leads forever when there's better F2F offers out there.

Regardless, go where you feel you'll get the best mentorship & training. FYI, it's not online.

 

[OttoGraf]

There's a huge difference between being with a captive outfit like Lincoln Heritage and being and independent broker.

The most important being, in my opinion, that as an independent agent I get to really help put my client in the best situation possible. A captive agent, not only Lincoln Heritage but Senior Life, American Income etc. can only offer a prospective client coverage from the one company they have in their bag. So they really can’t serve the client’s best interests most times.

Whereas a captive agent usually has to put an unhealthy client in a modified, expensive three year wait product; I have a bag of insurance companies that can give day one coverage for most every major health condition such as diabetic neuropathy, copd, tia, Parkinson’s, seizures, morbid obesity, blood thinners and on and on.

Additionally most captive agents aren’t vested for years sometimes and even at that they can be terminated at cause at a moments notice. I’ve heard horror stories from captive agents where they were let go basically overnight, losing their renewals etc. with no repercussions.

Funny thing is if a Lincoln Heritage agent actually calls the home office, not his regional manager, and asks:
- Do I own my book of business; my pay-thrus?
- When do I get my renewals and exactly how much am I owed?
- Can ANY of the aforementioned be taken from me?
-Can my contract be terminated without cause?
- If it gets terminated, what happens to everything I’ve worked for?

...the answer is not positive for any of those questions.

I could go on and on with other details like a captive Lincoln Heritage agent is usually capped at around an 80% commission at best, leads are often either old, used and very inconsistent and still come in at almost $40 a pop from what I’ve seen. There are always fees taken out of the pay, there’s around an $800 cap of commission per home and agents are paid on draft instead of about two business days.

I’ve been captive and on the free lead system and sold tons of policies that way over the years and I’ve found I can sell about half as many policies on the setup I have now and still make way more money; the money is mine up front, every last penny...paid to me directly from the insurance carrier.

 

[SPUR CITY]

Dave Duford offers premium training packages for agents with a low level com rate(80%)

Agent 5 was once captive and used his experience of being chained to a desk/office/mgrs as the most beneficial part of his growth within this industry.

Same with SpurCity - when comparing Dave D format and extremely low com rate - he used his CAPTIVE Status to draw the importance of immediate support/training and the necessity to accept a huge reduction in street level pay as a new rep.

First Q - Is Dave Captive? If not, why use Captive stories to support his low level street commissions, and hislevel of training anyone can get online, as priceless?

Why bash Lincoln Heritage? They offer everything Dave's offering in fact much more!

Dave did an interview with a long time producer who licks the boots of LH.

Whats wrong with LH? You have DD Heritage on here?

I’ll start by stating I don’t know what Dave Duford offers.

Personally, I think LH can be a decent training ground for a Final Expense Agent. Just like in most places a lot will depend on who your up-line is. There have been many many many agents that have failed out of the business because they were never mentored properly out of the gate. I’d be willing to bet a bunch of those failed agents would have made a career out of this had they been handled by someone that had a track record of training up good agents. As long as the agent is getting the proper support then Lincoln Heritage is a decent company to start with. I also believe that once a Lincoln Heritage agent knows what he or she is doing, they would probably be better off by switching to the independent side similar to what I did when I left New York Life. However, Lincoln Heritage does not make leaving them very easy when it comes to vectors.

We recently had several agents from
Lincoln Heritage come over to us and these agents are very sharp and dare I say “properly trained”. I’m actually flying out to Columbus, Ohio tomorrow to visit with several of them, but I think their journey is the ideal situation. Learn as much as you can and if you can survive LH then you should be able to THRIVE in the independent environment. One of our very best agents that’s been with us for about a year now is from Lincoln Heritage.

 

[SA210]

I’m not sure what Dave or Matt offer, but I can tell you that it all depends who your upline is with LH and how many levels deep you’re in. You can get some good training with LH under the right upline just like the independent side. I’ve done a lot of business with LH throughout the years as a GA and MGA, but as of the last year and a half I transitioned to the independent side. You are better off as an independent agent, but the key is to fine a good IMO with good contracts, decent underwriting (where you can place a block of business), and a good lead source with a fix lead cost per lead. I mean really that’s what most agents are looking for. What makes it difficult to leave LH is how easy it is to do business with them from the application process (NB Dept), customer service, and claims process. They have by far the best home office in the insurance business, but then again that’s my opinion. As for me the high lead cost and limited territories was worth the move to the independent side.

The key to leaving any organization like LH or any IMO for that matter is to make sure that you are vested and that YOU AS AN AGENT don’t leave a debt like chargebacks or a lead balance. YOU will be put on vector if you have a high enough chargeback balance, but that’s also with any insurance carrier. I can tell you from experience that LH WILL NOT put you on vector for lead balances. If no chargebacks are owed then your paythru or renewals will be used to pay down your lead balance along with your advancable balances. It would be safe to say that most MGA’s or IMO’s here would also request any carrier to do the same thing if they can avoid an agent roll-up. LH agents don’t need a release unless the agent moves from one territory to a different territory. For example from TX to CA then they would need a release. With that said the agent might not get a release from their MGA or RD if they have other carriers through them that are now needed for the new IMO, but that would be a different story.

 

[Agentguy5]

I truly love Lincoln Heritage. Between them and all the other outfits that recruit at super low commission levels, it's like we get our agents trained for us. lol

On the production side, Mariana and I are replacing LH policies on a weekly basis so they are lining up our clients too!

 

[Rearden]

Dave here.

A couple of corrections.

You're inaccurately describing my commission level starting point. I haven't started agents off at 80% levels in 3 or 4 years.

Depending on experience, agents new to my program start with the vast majority of commissions at or above 100%, with the goal of moving them higher based on achieving a small production quota.

While I don't require agents to sign an agency contract with me declaring their undying loyalty, I do require a "gentlemanly" agreement that any agent who wants to leverage my offerings to put all of their final expense business with me. If it doesn't work out? No problem - I give releases to agents as long as they are not indebted via chargebacks to me.

Agents generally find this arrangement fair, equitable, and mutually-beneficial.

Lastly, what interview with a Lincoln Heritage "bootlicker" are you referring to? Some specificity would help me in addressing your claim.

Dave Duford offers premium training packages for agents with a low level com rate(80%)

Agent 5 was once captive and used his experience of being chained to a desk/office/mgrs as the most beneficial part of his growth within this industry.

Same with SpurCity - when comparing Dave D format and extremely low com rate - he used his CAPTIVE Status to draw the importance of immediate support/training and the necessity to accept a huge reduction in street level pay as a new rep.

First Q - Is Dave Captive? If not, why use Captive stories to support his low level street commissions, and hislevel of training anyone can get online, as priceless?

Why bash Lincoln Heritage? They offer everything Dave's offering in fact much more!

Dave did an interview with a long time producer who licks the boots of LH.

Whats wrong with LH? You have DD Heritage on here?

 

[GMDM100k]

I haven't posted in quite some time. But maybe I can clarify a few things..

I've been sending business to Lincoln for about 13 years. I've mainly worked with them the whole time. To be honest they aren't specifically captive . They don't go around checking to see what companies you have. It's up to the IMO . And all the imos prefer to have captive agents . Obviously because they want to make money on all your business. Which most imos do I imagine.

I don't terminate any agents for having any other appointments . But it is a concern . Lincoln offers leads and finances them . So it wouldn't be beneficial to send those leads to someone and pay for them upfront just so I can not make any money from their business.

Is it possible to get terminated without cause? Sure. Each and every agent on this forum could have their contracts or appointments terminated for whatever reason. We're independent contractors.

Just like you as a home owner can fire a plumber mid way through a job because he smells. They don't need a reason . They just have to not want to work with you anymore.

Can you lose renewals? Yes. And they make it clear what not to do before your appointment . So just don't do what they ask. And what they ask, is not to entice a policy holder to cancel . And if you're a manager don't entice an agent to terminate their relationship with them . And to pay your debt off in a year. I've know plenty who have lost all renewals . And I know an equal amount that have been getting paid long after they left.

You do get a low starting comp with most Lincoln imos. And that's for the leads, financing, and training. And that's completely up to your upline what you start with. Just like any IMO. So obviously choose wisely. You are certainly not forced to take expensive leads .But most managers want you to because they know you will sell. You can generate leads how ever you want though.

If I were to honesty guess why some forum members here hate Lincoln?

Rates are high and agents here are genuinely offended they sell a product at a higher cost than most.

There have been some obnoxious agents and managers that have gotten on here and bragged about ap and income.

And maybe because they have ran into a bunk agent that did some clean sheeting. Which is really common in the siwl business.

And because lots of people recruit and if you don't do it their way you're stupid.

 

[PA Bill]

I haven't posted in quite some time. But maybe I can clarify a few things..

I've been sending business to Lincoln for about 13 years. I've mainly worked with them the whole time. To be honest they aren't specifically captive . They don't go around checking to see what companies you have. It's up to the IMO . And all the imos prefer to have captive agents . Obviously because they want to make money on all your business. Which most imos do I imagine.

I don't terminate any agents for having any other appointments . But it is a concern . Lincoln offers leads and finances them . So it wouldn't be beneficial to send those leads to someone and pay for them upfront just so I can not make any money from their business.

Is it possible to get terminated without cause? Sure. Each and every agent on this forum could have their contracts or appointments terminated for whatever reason. We're independent contractors.

Just like you as a home owner can fire a plumber mid way through a job because he smells. They don't need a reason . They just have to not want to work with you anymore.

Can you lose renewals? Yes. And they make it clear what not to do before your appointment . So just don't do what they ask. And what they ask, is not to entice a policy holder to cancel . And if you're a manager don't entice an agent to terminate their relationship with them . And to pay your debt off in a year. I've know plenty who have lost all renewals . And I know an equal amount that have been getting paid long after they left.

You do get a low starting comp with most Lincoln imos. And that's for the leads, financing, and training. And that's completely up to your upline what you start with. Just like any IMO. So obviously choose wisely. You are certainly not forced to take expensive leads .But most managers want you to because they know you will sell. You can generate leads how ever you want though.

If I were to honesty guess why some forum members here hate Lincoln?

Rates are high and agents here are genuinely offended they sell a product at a higher cost than most.

There have been some obnoxious agents and managers that have gotten on here and bragged about ap and income.

And maybe because they have ran into a bunk agent that did some clean sheeting. Which is really common in the siwl business.

And because lots of people recruit and if you don't do it their way you're stupid.

What would have become of Star Wars if George Lucas had Luke Skywalker, Princess Leia, and Hans Solo but left out Darth Vader?

 

[WinoBlues]

OK, OK, maybe _that_ will bring JD back.


Bill, is that what you meant by Darth Vader?