P&C Agents Sell More Life Insurance

[ims01]

But at that point, why would they hand it off? The work is done.

I'm missing something here.
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Hmmm, in looking this over, maybe I'm being a bit harsh. Are you cutting commissions due to doing the policy tracking? Or is this just a value add service you provide?

Dan

Whether they just do a generic quote or a more in depth quote, there is still a lot left to do.

If they just do a generic quote to test interest, then we do the due diligence, provide an accurate quote, take the app and manage the requirements in UW. Now if the P&C does the due diligence and takes the app, then they are entitled to almost full commission since only the case management is left to do.

When they are getting started it's overwhelming to learn the quoting and products so they mostly hand it off. Over time they become more familiar and comfortable and start to do more. In which case the comm goes up.

 

[Guest]

Most P&C agents on this forum are IA agents, when we were all Captive, the company jammed life sales down our throats, so its more of a push back reaction, I been IA for 2 years and honestly, just getting back into life insurance.

Many reasons IA's dont do life,
When I was at Farmers, I made 40% first year and 3% on renewals, so I seen no need for it, effort wise.
When the company forces life on you, your way to rebel is to not sell any,
Captive life apps are a HUGE pain in the azz,
Captive Life rates are WAY overpriced.

On the IA side, I have learned,
I get AT LEAST 85% commission,
I need to do virtually Nothing for the app, the company will call and get all the info.
IA side, I have teamed up with a Financial Planner, I give him my book and he cross sells it and we split the commission,
IA side, rates are MUCH better and people will pay it,
IA side, life insurance is an OPTION, not threated and forced at us like the captive side.

Not that I didnt see the need for it, but the constant pressure and threats as an IA shy you away from it

 

[Sales71]

RBA on the side of captive most captive companies have a financial specialist that all he does. I have a guy that works with my company. He works with say 5 agents that send him leads. The thing is you still have to market it and send letters etc. Then he will get %90 of the commission and the agent gets % 10. So it's a lot of work for low pay.

Life insurance takes a lot of time meeting with the client to write the app then order APS etc. I enjoy the sale when I do it.

 

[infoe]

Most P&C agents on this forum are IA agents, when we were all Captive, the company jammed life sales down our throats, so its more of a push back reaction, I been IA for 2 years and honestly, just getting back into life insurance.

Many reasons IA's dont do life,
When I was at Farmers, I made 40% first year and 3% on renewals, so I seen no need for it, effort wise.
When the company forces life on you, your way to rebel is to not sell any,
Captive life apps are a HUGE pain in the azz,
Captive Life rates are WAY overpriced.

On the IA side, I have learned,
I get AT LEAST 85% commission,
I need to do virtually Nothing for the app, the company will call and get all the info.
IA side, I have teamed up with a Financial Planner, I give him my book and he cross sells it and we split the commission,
IA side, rates are MUCH better and people will pay it,
IA side, life insurance is an OPTION, not threated and forced at us like the captive side.

Not that I didnt see the need for it, but the constant pressure and threats as an IA shy you away from it

This sums it up...i will try my best to get some good life sales to start if i can bc those commissions are sweet to help a p&c shop get off the ground

 

[Guest]

Use this site to compare rates, I like Ohio National the best and The Hartford Life is pretty good also
www.term4sale.com

 

[ims01]

Use this site to compare rates, I like Ohio National the best and The Hartford Life is pretty good also
www.term4sale.com

Using a quote engine is easy. The tough part for the P&C agents we work with is knowing what class to use to provide an accurate quote. Starting the transaction properly saves a lot of time, headache and deals.

Example: the prospect smokes 15-20 cigars a year but is otherwise in perfect health. Are they Tobacco or Non-Tobacco? Who do you use to get the best class? If you know the answer, I'll send you a cigar.

We offer a tool to help the agent determine what is best or they can send it to us to quote. This is the value in working with an IMO that has a system to specifically support P&C agents.

 

[ims01]

Going to run a 15 minutes webinar on 12/7 on easy life sales for the P&C agent. If you would like to attend send me an email or PM.