Ltc Insurance Question

[ltci4sure]

previously posted by ltci4sure
Yup, that's exactly what happened.

So how is that an acceptable behavior on gnw's part? No one seems to be acknowledging that in a competitive industry agents are not slaves of the career shop. We are free to choose who do we associate with (or stay independent). Now gnw is "mad" because someone is luring their career people away. I get solicitations from various brokerages quite often - so what? I have a choice - and so should gnw agents, no one dragged them over to ltcfp by the neck.

 

[Arthur Rudnick]

is it only me or do you guys see a bunch of flies floating around on this thread?

 

[ltci4sure]

is it only me or do you guys see a bunch of flies floating around on this thread?

Indeed, the bugs are out... they can smell this topic. And it stinks.

 

[Arthur Rudnick]

my guess it's either Sam or Val during their "April Fools Thing".............

 

[CALTCAgent]

You are simply misinformed about the compensation structure at ltcfp.

Since you know its wrong, you can then inform us?

Please give us the details. So far people that have talked to them and work for them have given very informative information.

What is your association to them?

Agents who come onboard and not through the training program have no such thing as a vesting requirement, to the best of my knowledge. As for 35% FYC - agents always have an option of paying for the leads themselves (and not being restricted to 35%).

"come onboard", sounds like you work for them?

But you don't know for sure the vesting requirement?

If you pay for leads, how much do they cost?

"not restricted to the 35%".

What is the compensation when buying your own leads?

In this case they still get the advantages of the infrastructure and being part of the organization (such as opportunities to work large accounts).

What does this mean?

What are the advanatges of the infrastructure?

What are the opportunities to work large accounts?

Those who come onboard through a training program (and that entails company investing time & resources into a new hire) - vesting is not time-limited. If an agent places certain amount (which escapes me at the moment) - they're fully vested regardless.

It escapes you, lol. Why not find it and post it?

I would say LTCFP would be lucky to get new agents to sell 1 out of 20 (for those who sell at all). So suppose LTCFP gives out 100 leads (thats $10,000 investment if you take return rate of 0.5% - sorry Arthur, not everyone is doing business in NY). On average they'd be lucky to get 5 sold on average (due to agents being new, not working, etc). That policy will be subject to reduced placement rates by new agents - say 50%. Amount at the end of the day: $5,000 in placed premium for new agent's business. The fatal flaw in your argument is that you are assuming LTCFP is taking onboard experienced people and sticks them into a program where they're "milked" for business.

Your system makes no sense for a new agent.

However an experienced agent would not accept the lower compensation for a promise of possible leads, no vesting day 1, no open release policy, IMO.

When looking at it, let's try to look at facts, not innuendo.

So far you have skirted the facts. People on here have brought the facts.

The vesting schedule "escapes" you. Really?

You are not bound to 35%. So what do you pay?

Lets talk math and facts. We are right here for those.

 

[ltci4sure]

Since you know its wrong, you can then inform us?

Why do you keep asking random people on the forum for information related to LTCFP, while you can just contact them and get information first hand? Instead I see you grab some random posts and make conclusions on limited and /or incorrect information?

Please give us the details. So far people that have talked to them and work for them have given very informative information.

Except that even people who allegedly work for them (and some who have placed $0 on the books while being there) make claims that don't correspond to reality. Informative information indeed.

What is your association to them?

Are you smelling a conspiracy?

But you don't know for sure the vesting requirement?
If you pay for leads, how much do they cost?
"not restricted to the 35%".
What is the compensation when buying your own leads?

Sounds like you are a prime candidate for their recruiting. DO you want a number?

What are the advanatges of the infrastructure?

LTCFP has fairly good home office support. If you don't hesitate to ask for help - they will help you. Be it marketing, IT, commissions - there are people who will help you out. Plus, they have some interesting programs in place. I won't go into details (again, you want to know more - ask their recruiting).

What are the opportunities to work large accounts?

As far as I know they partner with associations and large organizations to offer long term care. You think lead business sucks? They got some of that taken care of. Workplace is a very different type of sale.

It escapes you, lol. Why not find it and post it?

Again, please talk to them and find out.

Your system makes no sense for a new agent.

And you'd know that how? By parsing random pieces of info, most of which happens to be incorrect?

However an experienced agent would not accept the lower compensation for a promise of possible leads, no vesting day 1, no open release policy, IMO.

This is plain nonsense. As far as I know all these restrictions exists only in your imagination.

So far you have skirted the facts. People on here have brought the facts.

Right, of course they have.

So what do you pay?

Nothing. However sad, I won't be hiring you any time soon (even though LTCFP may).

Lets talk math and facts. We are right here for those.

Let's. Start with yourself, post what your lead costs look like. How much do you invest into leads, how much business do you generate. What is the total volume on an annual basis, etc.

 

[Mr_Ed]

Why do you keep asking random people on the forum for information related to LTCFP, while you can just contact them and get information first hand? Instead I see you grab some random posts and make conclusions on limited and /or incorrect information?


Except that even people who allegedly work for them (and some who have placed $0 on the books while being there) make claims that don't correspond to reality. Informative information indeed.


Are you smelling a conspiracy?


Sounds like you are a prime candidate for their recruiting. DO you want a number?


LTCFP has fairly good home office support. If you don't hesitate to ask for help - they will help you. Be it marketing, IT, commissions - there are people who will help you out. Plus, they have some interesting programs in place. I won't go into details (again, you want to know more - ask their recruiting).


As far as I know they partner with associations and large organizations to offer long term care. You think lead business sucks? They got some of that taken care of. Workplace is a very different type of sale.


Again, please talk to them and find out.


And you'd know that how? By parsing random pieces of info, most of which happens to be incorrect?


This is plain nonsense. As far as I know all these restrictions exists only in your imagination.


Right, of course they have.


Nothing. However sad, I won't be hiring you any time soon (even though LTCFP may).


Let's. Start with yourself, post what your lead costs look like. How much do you invest into leads, how much business do you generate. What is the total volume on an annual basis, etc.

there's one problem and one problem only.
You should never sell an insurance policy where you are paid by the general agency.
if the general agency goes bankrupt, you lose all your renewals (even if you are already vested.)

always get direct contracts.
always get immediate vesting.

insurance companies don't go bankrupt and even when restructured (like Penn Treaty) all the agents are still getting their renewals.

this business is about one thing and one thing only: renewals.

you risk losing all your renewals and wasting all your years of hard work if you are getting paid by an agency and not directly from the insurance company.

period.
done.

 

[CALTCAgent]

Why do you keep asking random people on the forum for information related to LTCFP, while you can just contact them and get information first hand? Instead I see you grab some random posts and make conclusions on limited and /or incorrect information?

I like this forum. This place must me terrible for a person like you.

I keep asking, please post the "correct" information?

You are setting a terrible example for any agent thinking of joining, IMO.

Except that even people who allegedly work for them (and some who have placed $0 on the books while being there) make claims that don't correspond to reality. Informative information indeed.

Are you smelling a conspiracy?

I am smelling your BS. It won't fly with me. Take it somewhere else. Like newby agents that don't know any better.

Sounds like you are a prime candidate for their recruiting. DO you want a number?

Yes. I am going to post the exact results here on the forum. No more baloney.

I won't go into details (again, you want to know more - ask their recruiting).

There you go again. You said stick to the facts. But the details are what are needed. I want to talk on an open public forum and I will do such. I don't want to hear the baloney from a recruiter. I have already heard that enough.

Again, please talk to them and find out.

I have. Other have as well.

And you'd know that how? By parsing random pieces of info, most of which happens to be incorrect?

Its incorrect. But you can't correct it?

talk to a recruiter, you shouldn't use a public forum to exchange ideas, they are random (which is bad?)

This is plain nonsense. As far as I know all these restrictions exists only in your imagination.

The only nonsense is you!

However sad, I won't be hiring you any time soon (even though LTCFP may).

You are out of your mind.

Let's. Start with yourself, post what your lead costs look like. How much do you invest into leads, how much business do you generate. What is the total volume on an annual basis, etc.

What will this prove?

I am not riding the back of unsuspecting newby agents.

 

[ltci4sure]

I like this forum. This place must me terrible for a person like you.

And what kind of person do you think I am?

I keep asking, please post the "correct" information?

And I keep telling you - ask LTCFP for info if you are so interested. I am not the spokesperson and not an official speaking on their behalf.

You are setting a terrible example for any agent thinking of joining, IMO.

Why would that be? Because I point out that people on this forum also are drinking their own kind of Kool-Aid?

I am smelling your BS. It won't fly with me. Take it somewhere else. Like newby agents that don't know any better.

First, I have not posted any "BS". I pointed out what I knew as being wrong
info about the LTCFP.

Yes. I am going to post the exact results here on the forum. No more baloney.

Good. Do it.

I have already heard that enough.

Apparently your listening skills were taking a break then - bc what you heard was something other than the actual situation.

The only nonsense is you! You are out of your mind.

Going down to insults? Where is Arthur when you need him...

What will this prove?

That will allow the forum participants to see what kind of lead costs you are running. That in turn will qualify your statements on how LTCFP offers horrible deal for new and/or experienced agents.

I am not riding the back of unsuspecting newby agents.

Neither am I. Why do you insist people are so dim that they can't see what is good for them and what is not?

----------

there's one problem and one problem only.
You should never sell an insurance policy where you are paid by the general agency.

Suppose you are an experienced agent going with GA. It is prudent to check what kind of by-laws are governing an organization you are signing up with.
Since we were talking LTCFP - their renewals are secure against the bankruptcy - carriers will still pay them no matter what (if carriers themselves don't go out of business).

if the general agency goes bankrupt, you lose all your renewals (even if you are already vested.)

Unqualified statement. This depends on the sort of governance and business operations the GA has.

you risk losing all your renewals and wasting all your years of hard work if you are getting paid by an agency and not directly from the insurance company.

You risk losing all or part of any investment that you make. You risk banks going out of business and taking your account down with them. You risk crossing the street ...

I don't think being paid by GA is such a problem. All depends on the GA and particular circumstances that you are in.

 

[Irena]

Since you know its wrong, you can then inform us?

Please give us the details. So far people that have talked to them and work for them have given very informative information.

You are not bound to 35%. So what do you pay?

Lets talk math and facts. We are right here for those.

This is Irena. I work for LTCFP. I would be happy to provide you with information about our lead programs and/or the company and answer any questions that you have.

The 35% commission is for leads provided by the company. That does not apply to agent generated business such as referrals and agent purchased leads.
There is no vesting period for renewals for experienced producers. The renewal vesting period that you might have heard about only applies to producers who are new to the industry and hired specifically to go through our "Institute" program.

If you have any other questions please let me know. You can also reach me directly at [email protected] or 425-284-4867.