Question (newer agent here)

[jerryrut]

Sorry to burst any bubbles but I've already committed to LH. I was with another agency in the past but they offered me no training other than some videos on their website, and wouldn't give me leads because I was so new so they got me to focus on my warm market, which made me fall flat on my face.

Lincoln however has trained me more on making sales in a week the other company did in 3 months. A little off topic I know but I've been to so many "opportunity meetings" and got so many offers I realize now I just need to stick to one thing until I get it. Coincidentally, it's in my nature to one trick things. I'm just trying to let this one be my way out of the W2 environment. Maybe down the road when I know what I'm doing I can take on more contracts and branch out. Also, Lincoln has renewals. My mentor has a medical condition that knocked him out of the field for 8 months last year. Thankfully he had renewals and his pay-thru to get him through it.

Anyways...



He said he totaled 75k his first year and probably 50k after lead costs and whatever other expenses. Also his medical condition kept him from working more and making more in the beginning like he needed to.

I see a lot thrown against LH and I don't really understand it.. Sure they're not the cheapest product but they aren't really selling final expense either... lol

From what I can tell so far they are one of the best companies for the new agent.

You'll find out, the hard way, those chargebacks on policy replacements will keep you up many nights, but, good luck.

 

[MedicareMillionair]

What ? Did you even read his post ? Is this just a copy paste ? Have some personality



As for OP. Bust your ass and you can make that ....be smart on your write offs and such. It's normal to feel like this (uncertainty)and to be honest Lincoln heritage is as hand holding as it gets so you have people that want you to write business. Your best bet is to delete your insurance forum account and pretend you can't fail. 1 year from now all these guys will be foaming at the mouth to have you just like they are now. You clearly show your commitment to what you do.


These peeps already talking annuities and Medicare and you are nervous about the FE jump ....come on guys chill with recruiting for a second.

I'm not suggesting anything I haven't done myself. Also, this isn't rocket science. The average person can pick up Medicare and FE to start their business. My advice is sound and intelligent.

I understand how others would have a different opinion.

 

[Valetic]

1 year from now all these guys will be foaming at the mouth to have you just like they are now.

Everyone keeps telling me no but I keep telling myself YES!

 

[Valetic]

Leave him alone, guys. He's already tasted the Koolaid and likes it!

This comment irks me the wrong way for some reason...

 

[Valetic]

You'll find out, the hard way, those chargebacks on policy replacements will keep you up many nights, but, good luck.

Not sure how many people know about LH leads and chargebacks. Basically give you a producer account which is nothing but a debt account. They front you the leads and whatever sale you make they take half of your gains and put it towards your debts. So it's easy for the new agent to jump in without having to invest in leads out of their own pockets to pay for leads or payback chargebacks. Plus I'm not gonna be worried if I can get a high enough persistency. And I'll have plenty of people to help me get my debt down if it gets too high until I get the hang of it.

 

[LostDollar]

I haven't seen anyone able to bash the company itself other than the actual commission rates and the product prices.. But I guess there's always a better something out there.

So you ask experienced agents for advice, you hear that this company underpays its front line sales force and overcharges its customers, And you don't consider that significant advice? That's sad.

 

[jerryrut]

Not sure how many people know about LH leads and chargebacks. Basically give you a producer account which is nothing but a debt account. They front you the leads and whatever sale you make they take half of your gains and put it towards your debts. So it's easy for the new agent to jump in without having to invest in leads out of their own pockets to pay for leads or payback chargebacks. Plus I'm not gonna be worried if I can get a high enough persistency. And I'll have plenty of people to help me get my debt down if it gets too high until I get the hang of it.

Did I mention you gotta learn the hard way? Good luck.

 

[Travis Price]

It's clear you're committed to LH. I think you're going to learn the reality of the situation pretty fast. No company is going to dig you out of writing bad business by replacing it with good.

This is a recipe for going into chargeback hell. Then you vector and you're out.

I hope it works for you, but I think you should step back and do more research.

 

[jerryrut]

Did I mention you gotta learn the hard way? Good luck.

You will have nobody to help with your debt, they will take your first born

 

[Travis Price]

Here's the problem your facing:

LH is overpriced. FE is a lower income market. You sell a policy and get your 9m advance.

Do you think some Indy agent isn't going to eventually market to your guy? When he offers the exact same policy for 30 dollars less a month, you've lost him. That's on top of natural drop-off of buyers due to light bill vs insurance bill.

Legit, I hate advances. I get that people need them to eat, but f@ck if I want to get trapped into a chargeback that I can't afford.