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you have to be careful on easy issue if they are to young and healthy someone will come in behind you and give them a lower price and guess what you have now? charge back!
Looking at Insurance for New Career! Help!!
- Thread starter enine
- Start date
- 6,026
The OP said he was looking for the "Best way" to get in the biz.
In my opinion - Easy Issue is the best and the easiest.
Leads are abundant, the close is somewhat easy, the commissions are good and the pay frequency is quick.
When peeps are marketing Easy Issue products - they don't often target the young and healthy. But - if they run across some - lay it out for them. Show them the EI product that issues quick, painlessly and is affordable OR they can do a UW plan which requires a paramed and may take many weeks to get coverage. Let them pick . . .
I didn't invent the Easy Issue products - I just sell them.
Tom
Tom
In my opinion - Easy Issue is the best and the easiest.
Leads are abundant, the close is somewhat easy, the commissions are good and the pay frequency is quick.
When peeps are marketing Easy Issue products - they don't often target the young and healthy. But - if they run across some - lay it out for them. Show them the EI product that issues quick, painlessly and is affordable OR they can do a UW plan which requires a paramed and may take many weeks to get coverage. Let them pick . . .
I didn't invent the Easy Issue products - I just sell them.
Tom
Tom
- 15,319
Tom sells easy issue just as some agents sell mini meds. Eventually they all get replaced but someone makes a quick buck.
For the new agent: learn insurance, not the fastest way to a commission. You'll sleep better (and not in a trailer down by the river).
Rick
For the new agent: learn insurance, not the fastest way to a commission. You'll sleep better (and not in a trailer down by the river).
Rick
If you collect the premium with the application, it takes seconds to get coverage.
- 6,026
LOL - okie dokie . . .
- 1,802
I had a meeting a couple of months ago with a referral. In going over their current insurance portfolio, I found a FE product that was sold two months prior to my meeting.
The individual was paying around $300 per month for 30K in coverage. After some brief field underwriting, I found that I could easily give her the same amount of coverage for $225 per month, by having it underwritten.
Just got the policy back and she was given a standard rating, where I had quoted her a table 2; needless to say the client is happy. She is now paying $153 per month for a 30K guaranteed DB policy paid up at age 100; and continued coverage to age 121.
Had the agent done their job correctly on the front end; they would not be dealing with a chargeback at the moment.
FE has its place. But so do agents that do not properly field underwrite.........I hope this helps.
The individual was paying around $300 per month for 30K in coverage. After some brief field underwriting, I found that I could easily give her the same amount of coverage for $225 per month, by having it underwritten.
Just got the policy back and she was given a standard rating, where I had quoted her a table 2; needless to say the client is happy. She is now paying $153 per month for a 30K guaranteed DB policy paid up at age 100; and continued coverage to age 121.
Had the agent done their job correctly on the front end; they would not be dealing with a chargeback at the moment.
FE has its place. But so do agents that do not properly field underwrite.........I hope this helps.
- 6,026
I imagine it just all depends on what target market the agent is working.
In my world - if someone comes in and replaces a non-med that I wrote and the client got a better deal - then it was deserved. But - it's also part of the game we play. We know going into the FE world and the Non Med world that up to 25% of our book will chargeback - it's a stat that doesn't feel good - but it happens.
Hopefully - I've developed a decent relationship with the client, to where if someone comes in and tries to sell them insurance - they will contact me to let me know.
I send a welcome card to each new client and include a few magnetic business cards with my ugly old mug on it. I ask them to stick this on their refrigerator and call me if they ever have any questions OR if one of them "insurance agents" call them or stop by and try and sell them something OR start asking a whole bunch of financial information and try to get them to switch their insurance . . .
If someone does - I ask them to call me right away because you just never know who you trust or not!
But - in the end - you win some and you lose some. The key is to win more than you lose . . .
Tom
- 15,319
No. The key is to do what's right for the client. If 25% of the business is being replaced, then we can assume that 50-75% of what is being written is wrong for the client.
There is a difference between making a quick buck and being an insurance professional.
Rick
- 9,744
Wait a minute...my BS detector just alerted very strongly.
In other posts, you tell us that you (and the FE market) is for salesman.
No need to advise, etc. - just sell it to 'em.
Your inexperience is really showing.
- 6,026
If there wasn't a need for Easy Issue Non Med products - OR - if the client would be "harmed by the" - do you actually think that the carriers above and others like them would be selling them ?
Tom
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Easy Issue Non Med Life products can be sold by other than what the old hens describe as having to be an "adviser" . . .
I don't so much "advise" a client on an insurance portfolio or what they should do with their lives - I just "advise" them to contact me with any questions they may have AND to contact me if someone attempts to "sell" them insurance.
You'd be surprised how many call letting me know that another insurance man came calling. But - mostly it's for MA plans or Med Sups - which I don't do . . .
Tom
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