Question about need-a-lead

[theinsuranceman]

s many as I wanted to write... For a person that says he does not spend time worrying about what others do, you sure seem mighty worried about what I and some others on the forum do..

Don't be embarrassed or ashamed to say ZERO. You're retired remember?

 

[DayTimer]

s many as I wanted to write... For a person that says he does not spend time worrying about what others do, you sure seem mighty worried about what I and some others on the forum do..

He's like Happy Days ... he done jumped the shark. He is a forum addict ... couldn't quit it if he wanted to

 

[theinsuranceman]

He's like Happy Days ... he done jumped the shark. He is a forum addict ... couldn't quit it if he wanted to

LOL, you won't see me up here Mon thru Fri. I can't make $$$ up here posting. And I don't depend on my wife to support us...lol.

 

[DayTimer]

you won't see me up here Mon thru Fri.

See you tomorrow

 

[rousemark]

Don't be embarrassed or ashamed to say ZERO. You're retired remember?

See, you are still worried about what I write.. Just to put your mind at ease, It was far more than zero..

 

[Todd King]

LOL, you won't see me up here Mon thru Fri. I can't make $$$ up here posting. And I don't depend on my wife to support us...lol.

Some of the best news I've heard in a while!!

 

[theinsuranceman]

Lifetime renewals aren't that uncommon are they? I was just looking through a couple of my contracts and saw several of my companies pay renewals for life. I'm not sure what the lifetime renewals are for most SL agents but I saw .75% which is half of what some other companies pay.

EDIT: After looking again, the renewals are a little confusing with SL because for the Super Preferred, it's a low lifetime renewal of .75% but there are a couple with a respectable 2.5% renewal. I'm not sure why the Preferred is the only one with a renewal of 0% either.

Preferred DOES pay renewals, starts at 3.75%. You are looking at something that is either outdated or "doctored up".

 

[Abrasax]

Preferred DOES pay renewals, starts at 3.75%. You are looking at something that is either outdated or "doctored up".

Must have been one of their monthly revisions.

 

[titeye]

So, on 1/2 of the policies you sell, you'll get no renewals at all. Sounds GREAT.

What does VAP stand for?

I happened to notice your question was never answered. Let me see if I can help:
VAP stands for Value Added Product(s). This is the code terminology for their Legacy Assurance wholesale funeral merchandise benefits plan.
If the agent does not sell this $3 per month non-life insurance "rider" to the client, he WILL NOT get renewals on the life insurance policy. (Head scratcher).
Also, In the above illustrated commission schedule, it appears that the agent has a 90% contract. However, the contract is smoke and mirrors. Notice how the commission is reduced 20%, if the agent DOES NOT SELL the VAP, or Legacy Assurance benefit plan. For example, the commission on a client who qualifies for Super Preferred, the commission is only 70% without pushing VAP/Legacy. If the client only qualifies for Preferred, Standard, Easy Issue, Guaranteed Issue, or any other class, the commission is reduced by 20%.
The agent would require a 135% contract in order to receive 115% payout on a Super Preferred and Preferred policy, if the client does not want to bundle their life insurance coverage with a funeral package. My question has always been, "Why must an insurance agent be penalized 20% of his commission simply because the insured doesn't want to pay an additional $3.00 on their monthly premium for an optional rider?"
This is what creates potential conflicts of interests in the industry and contributes to the public's distrust of insurance agents, in my personal humble opinion.

 

[goillini52]

I happened to notice your question was never answered. Let me see if I can help:
VAP stands for Value Added Product(s). This is the code terminology for their Legacy Assurance wholesale funeral merchandise benefits plan.
If the agent does not sell this $3 per month non-life insurance "rider" to the client, he WILL NOT get renewals on the life insurance policy. (Head scratcher).
Also, In the above illustrated commission schedule, it appears that the agent has a 90% contract. However, the contract is smoke and mirrors. Notice how the commission is reduced 20%, if the agent DOES NOT SELL the VAP, or Legacy Assurance benefit plan. For example, the commission on a client who qualifies for Super Preferred, the commission is only 70% without pushing VAP/Legacy. If the client only qualifies for Preferred, Standard, Easy Issue, Guaranteed Issue, or any other class, the commission is reduced by 20%.
The agent would require a 135% contract in order to receive 115% payout on a Super Preferred and Preferred policy, if the client does not want to bundle their life insurance coverage with a funeral package. My question has always been, "Why must an insurance agent be penalized 20% of his commission simply because the insured doesn't want to pay an additional $3.00 on their monthly premium for an optional rider?"
This is what creates potential conflicts of interests in the industry and contributes to the public's distrust of insurance agents, in my personal humble opinion.

SL wants that LA on every policy because they make money off of LA. I know that Greg says that SL has no ownership in LA, but then Greg says a lot of things.

Whether or not SL has any ownership in LA, SL is making money off of LA. It's proabaly so profitable, because it's rarely used. Either the policy lapses or when the policyholder dies and no one knows about LA, so no payout. That $3 a month was pure profit, so the agent and the polcyholder get screwed while SL and LA sit back and laugh.

Sign me up.....NOT!!!