- 25,986
Man you guys are patient. Would any of you take him on as a client?
Looking For a Whole Life Policy
- Thread starter stevew7
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- disability whole life
Not a chance. I don't get why any agent here would get into these debates with so-called consumers. Here's part of a blurb I missed when it was originally posted:
Larry,
Thx for proving my pt that majority of insurance agents are interested in yld to them via upfront commission vs benefit to client over a lifetime. The primary reason most buy term is cause it's limited outlay for max protection and the screw factor via greedy salesman is minimal.
......
Yes, I think industry is slimy at best, unless I can get a policy that works for MY Family I will also buy a 30 yr term so I don't finance your 4th car payment, or 2nd home payment from a policy that benefits you, the salesman, on the front end, the insurance co the life of the policy, and maybe me.
What a bz, sell shXt products and then complain when the custy asks a question. That, my lowly salesman, is Funny.
This was from our "custy" bluefin. I assume he doesn't work for free. I assume he doesn't apologize for making a living. I assume he doesn't suffer idiots and fools who ask him to apologize for making a living. Yet he comes on here and gives us his "offended custy" schtick.Thx for proving my pt that majority of insurance agents are interested in yld to them via upfront commission vs benefit to client over a lifetime. The primary reason most buy term is cause it's limited outlay for max protection and the screw factor via greedy salesman is minimal.
......
Yes, I think industry is slimy at best, unless I can get a policy that works for MY Family I will also buy a 30 yr term so I don't finance your 4th car payment, or 2nd home payment from a policy that benefits you, the salesman, on the front end, the insurance co the life of the policy, and maybe me.
What a bz, sell shXt products and then complain when the custy asks a question. That, my lowly salesman, is Funny.
His rant sounds like it came from page 1 of the "I'm a fee-based planner and commission salepeople suck" manual. I GUARANTEE you this... I don't know nor do I care what bluefin does for a living or how he gets paid, but somebody somewhere has to sell something or confiscate something (taxes) in order for him to pay his rent. I can't wait for the rebuttal.
- 10,708
The reason I posted that scenario was because its something I have thought about doing on here for a while.
I responded to him quoting you because I vehemently disagree with his post about commissions on WL.
Assuming the same $12K was going into a brokerage account per year; the stock broker would make over triple what we would over the life of the client...... but somehow we are the greedy ones....
What this guy doesnt realize is that something is always sold in the business world; an engineering contract is sold to the client, a paper supply contract was sold..... now he might not be a salesman, but I guarantee that at whatever company he works at something is "sold" at some point for that company to make money; that company makes it's profit margin as a percentage of their revenue(aka:sales).... this guy might get a steady paycheck, but it comes from a percentage of sales somewhere, so in a roundabout way everyone who has a job gets paid from commissions.
While I have little patience for ignorance; I also feel that I have a duty to defend our industry at times.
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Definitely not!!!!
There are way too many good clients out there.
I dont mind a client being inquisitive at all, in fact I welcome it.
But if a client refuses to listen, repeats themselves after their point had been proven to be moot, & constantly accuses me of being "greedy" with commissions..... then I simply just move on, its not worth your time or effort.
Even if this guy is convinced that PI is the way to go, every time he is told by a broker that he is a fool, every time he reads some random article about how PI pays "huge" commissions, every time he hears from a friend about a "huge" month in the market; he will be calling with the same concerns/accusations again and again...
Its clear that his "information" was derived from biased and opinion based articles that he probably googled and are probably not from properly informed professionals.
I responded to him quoting you because I vehemently disagree with his post about commissions on WL.
Assuming the same $12K was going into a brokerage account per year; the stock broker would make over triple what we would over the life of the client...... but somehow we are the greedy ones....
What this guy doesnt realize is that something is always sold in the business world; an engineering contract is sold to the client, a paper supply contract was sold..... now he might not be a salesman, but I guarantee that at whatever company he works at something is "sold" at some point for that company to make money; that company makes it's profit margin as a percentage of their revenue(aka:sales).... this guy might get a steady paycheck, but it comes from a percentage of sales somewhere, so in a roundabout way everyone who has a job gets paid from commissions.
While I have little patience for ignorance; I also feel that I have a duty to defend our industry at times.
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Definitely not!!!!
There are way too many good clients out there.
I dont mind a client being inquisitive at all, in fact I welcome it.
But if a client refuses to listen, repeats themselves after their point had been proven to be moot, & constantly accuses me of being "greedy" with commissions..... then I simply just move on, its not worth your time or effort.
Even if this guy is convinced that PI is the way to go, every time he is told by a broker that he is a fool, every time he reads some random article about how PI pays "huge" commissions, every time he hears from a friend about a "huge" month in the market; he will be calling with the same concerns/accusations again and again...
Its clear that his "information" was derived from biased and opinion based articles that he probably googled and are probably not from properly informed professionals.
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What people do not get is that a good WL policy with a solid company is a guaranteed estate from day one and the money is guaranteed to be there in 20 years when they need it. No if, no and, no buts, no maybes. Guardian that has my WL has been around since 1860. That is solid.
I hear you. We all have to pick our spots, but this guy wasn't a spot I cared to pick. Your comment reminded me of a saying... "Truth needs no defense. Truth IS the defense." For me, the only people I care to jump through business related hoops for are the clients that trust me with their money and security. They get 100% of me. This yahoo gets zero.
If your clients are pleased with you, you have found your business significance and have no need to dance for quarters every time some tumbleweed rolls through this board wanting to amuse himself at your expense.
Do I make a nice living? Yep. Do I care what this guy thinks? Nope. Do I earn what I make? Yep. The only validation or prestige I need is right here on Hip National Bank (my wallet).
Bluefin646
Expert
- 41
Go read my first post on page 4.
.....If your clients are pleased with you, you have found your business significance and have no need to dance for quarters every time some tumbleweed rolls through this board wanting to amuse himself at your expense.........
Cool phrasing!
- 25,986
No thanks.
My contribution to this epic = Self insure. If you do not have the chops to deposit that large of an amount, Ask an insurance company to please cover you till you can save it up.
Good luck. Got to run to a client meeting, Wish you well. Good bye.
i dont mean to be ungrateful but that wasnt a whole life policy like we were discussing and it isnt exactly what i had in mind meaning i would like to see an illustration and discuss the guarantees and assumptions as well as method of setting up the PI for this benefit but none the less thanks for your effort. it does bring up a tangent area i have looked at however and i will say that most agents i have spoken to would say go with WL or GUL and invest seperately since ive been given the impression that the scale used with Indexed isnt really in your favor though u have a few different scales to pick from.
i also want to point out that i have not made any comments like the other "civilian", although that term seems unusual to me since i served a decade on active duty but probably still appropriate. i at times feel like im lumped into those words just bc i have a different point of view. i was very specific with where i disagree and havent made a bunch of comments against all permanent insurance or the agents.
i dont agree with larry's position on some of this conversing with civilians but i will say that just bc im here to learn doesnt mean u are here to teach me. no need to put further effort since this continues to degenerate. ill thank you for what you looked at and move on. my gut tells me that if you are an agent who has less than 10 years until retirement then you dont need to worry about explaining things in great detail and defending them. if you plan to practice longer then i imagine with the internet etc, it will become more common for people to challenge your convictions without more definitive evidence. Frankly i think im pretty open mined considering i was placed into a 412i and likely if i hadnt been so trusting i wouldnt have that problem.
i also want to point out that i have not made any comments like the other "civilian", although that term seems unusual to me since i served a decade on active duty but probably still appropriate. i at times feel like im lumped into those words just bc i have a different point of view. i was very specific with where i disagree and havent made a bunch of comments against all permanent insurance or the agents.
i dont agree with larry's position on some of this conversing with civilians but i will say that just bc im here to learn doesnt mean u are here to teach me. no need to put further effort since this continues to degenerate. ill thank you for what you looked at and move on. my gut tells me that if you are an agent who has less than 10 years until retirement then you dont need to worry about explaining things in great detail and defending them. if you plan to practice longer then i imagine with the internet etc, it will become more common for people to challenge your convictions without more definitive evidence. Frankly i think im pretty open mined considering i was placed into a 412i and likely if i hadnt been so trusting i wouldnt have that problem.
- 7,790
Geez, rex, you need a new keyboard with a Shift key that makes the reading easier.
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