Realistic FE Production Numbers!

[gordon112]

Since the lowest I go is B++, I always point that out to my clients. I only deal with companies that have at least that rating or higher.. Do my clients ever ask me about the ratings? Rarely, unless it's a larger case. I just point it out as it builds creditability. I just do the right thing, because it's the right thing to do.

I could just offer them a sub par SL product and pretend its the best thing, but would that be the right thing to do?

 

[jdeasy]

Since the lowest I go is B++, I always point that out to my clients. I only deal with companies that have at least that rating or higher.. Do my clients ever ask me about the ratings? Rarely, unless it's a larger case. I just point it out as it builds creditability. I just do the right thing, because it's the right thing to do.

I could just offer them a sub par SL product and pretend its the best thing, but would that be the right thing to do?

I can't remember a client ever bringing it up but it's part of my presentation to inform them that we only offer A rated companies. I do tell them that there is really nothing wrong with lower rated companies but with all the A rated companies available, why use anything else?

And I back it up. I won't write companies that are not A rated. I don't use Oxford for that very reason and they are B+++++ or something like that.

 

[gordon112]

I can't remember a client ever bringing it up but it's part of my presentation to inform them that we only offer A rated companies. I do tell them that there is really nothing wrong with lower rated companies but with all the A rated companies available, why use anything else?

And I back it up. I won't write companies that are not A rated. I don't use Oxford for that very reason and they are B+++++ or something like that.

Agree, its not going to come up, I just feel its in there best interest and mine to inform folks that I only deal with top companies.

 

[theinsuranceman]

I think they may be something wrong with your maturity level, since you don't sell A rated or higher companies. And did you think that your clientele of Final Expense clients may be different than my group of clients, where the majority of them are business owners, or other successful professionals???? We deal with two different types of clients. And every one of my clients have asked me what the AM Best rating is for the company I recommend they go with. Apparently people taking out $2 million of term or permanent coverage care about this little over looked issue. Grow up Insuranceman, and do the right thing.

If I sold 2M term then maybe you'd be correct. However, I only sell FE.
Anyway, for some reason I thought this thread was about "FE" not about "term", based on the title of the thread. Is it my comprehension skills that's lacking.....or is it your comprehension skills that are lacking?......based on the title of this thread.

 

[Rearden]

Maybe 5 out of 1000 presentations does the prospect ask me about the "quality" of the insurance company before I cover it.

Typically I address that at the end anyway.

Prospects buy you first, then the product you're pitching.

 

[VolAgent]

Maybe 5 out of 1000 presentations does the prospect ask me about the "quality" of the insurance company before I cover it.

Typically I address that at the end anyway.

Prospects buy you first, then the product you're pitching.

That has been my experience with any product I have ever sold. Usually when people start asking about AM Best, BBB, etc. I find it shows a lack of trust in you.

 

[rousemark]

Seems a little humorous to hear people say they will not deal with any company that doesn't have at least a B+ or an A rating. I can remember when many people were claiming they would not do business with any company that wasn't rated A+.. Of course that was before the debacle of the late 80s and 90s and A+ companies were a dime per dozen. Now many of those same companies are rated B, B+, A- and A and people are still doing business with them. Even some of the giants can't get about A in the current rating environment.

I do not know that I have ever had a client ask a question about ratings other than when another agent has try to use ratings for a way to upset the client in a competitive or replacement situation.

BTW, E&O companies will cover claims involving companies with less than an A rating unless the claim is the result of company insolvency. And, when it comes to insolvency, I have had more problems over the last 40 years with companies that were rate A or above than I have had with companies with lower ratings. Just goes to prove an AM Best rating hasn't always meant a whole lot because their crystal ball has been no better than yours or mine.

When it comes to Best, the thing that seems to be more important that their rating is their outlook. A B company with a stable outlook is probably a safer "bet" than an A company with a negative outlook. The only problem is that information is not as readily available as the letter rating.

 

[WinoBlues]

Xs 2, I recently replaced a fraternal the same way. The agent had replaced Golden Memorial using ratings. I did the same to him. With a life insurance company. Live by the sword...

Seems a little humorous to hear people say they will not deal with any company that doesn't have at least a B+ or an A rating. I can remember when many people were claiming they would not do business with any company that wasn't rated A+.. Of course that was before the debacle of the late 80s and 90s and A+ companies were a dime per dozen. Now many of those same companies are rated B, B+, A- and A and people are still doing business with them. Even some of the giants can't get about A in the current rating environment.

I do not know that I have ever had a client ask a question about ratings other than when another agent has try to use ratings for a way to upset the client in a competitive or replacement situation.

BTW, E&O companies will cover claims involving companies with less than an A rating unless the claim is the result of company insolvency. And, when it comes to insolvency, I have had more problems over the last 40 years with companies that were rate A or above than I have had with companies with lower ratings. Just goes to prove an AM Best rating hasn't always meant a whole lot because their crystal ball has been no better than yours or mine.

When it comes to Best, the thing that seems to be more important that their rating is their outlook. A B company with a stable outlook is probably a safer "bet" than an A company with a negative outlook. The only problem is that information is not as readily available as the letter rating.

 

[TDFnCali]

HOOOOOLY CRAP. Ok. Now you're just being ignorant. I have to move on. But what I was saying was that I was not sticking up for YOU in particular!?

Dude...what the hell is wrong with you? You seriously actually can sell? Because I know reading isn't your specialty.

^^ THATS hilarious, coming from the guy who "read" my post about replacing a permanent policy & then replying sarcastically that 'replacing a term with whole life is a no brainer'....but I cant read??

Here's something u should READ (if u can)-

Intelligence Study Links Low I.Q. To Prejudice, Racism, Conservatism.

 

[GMDM100k]

^^ THATS hilarious, coming from the guy who "read" my post about replacing a permanent policy & then replying sarcastically that 'replacing a term with whole life is a no brainer'....but I cant read??

Here's something u should READ (if u can)-



I wonder where this study would place my IQ. I'm a conservative libertarian!! Does that mean I get the best of both worlds!!