Realistic FE Production Numbers!

[theinsuranceman]

A few facts.....

_Replacements do happen

_Replacements do not happen as frequently as some agents brag/claim, because if the replacements happened that often...

The FE Co.'s would be shrinking in size, and neither Co. is shrinking...both are growing.

and/or:

Market conditions/competition/replacements would force the Co.'s to lower premiums to keep from losing market share, and I don't see either Co. lowering premiums.

hence: replacements are probably no more than a thorn in the side for the Co.'s.

I've spoken with agents from RNA, Foresters, Oxford, etc. and they have all pretty much said the same thing to me....they have a difficult time getting someone to drop a higher priced policy and take out a cheaper policy (same face) with them.

Once people get into their comfort zone they don't usually like to change.
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Makes perfect sense.. He is saying if you want a guaranteed income stream, find the LH and SL policies that are in force and replace therm with a lower premium policy. Kind of like Newby's, "LH has been very good to me".

LOL...Newby must be replacing LH policies his buddy JD wrote, and then JD sold em to Newby.

 

[TDFnCali]

A few facts.....

_Replacements do happen

_Replacements do not happen as frequently as some agents brag/claim, because if the replacements happened that often...

The FE Co.'s would be shrinking in size, and neither Co. is shrinking...both are growing.

and/or:

Market conditions/competition/replacements would force the Co.'s to lower premiums to keep from losing market share, and I don't see either Co. lowering premiums.

hence: replacements are probably no more than a thorn in the side for the Co.'s.

I've spoken with agents from RNA, Foresters, Oxford, etc. and they have all pretty much said the same thing to me....they have a difficult time getting someone to drop a higher priced policy and take out a cheaper policy (same face) with them.

Once people get into their comfort zone they don't usually like to change.
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LOL...Newby must be replacing LH policies his buddy JD wrote, and then JD sold em to Newby.

I would disagree with that part. No, not everyone will change, some will stay & pay more. But most will change if u show them the same thing for less & show them how easy it is to change!!

CASE IN POINT- Replaced an AARP WL policy TODAY with RNA Essential Life, saved her $19/mo & gave her 15k more coverage! I know your example said same face amt, and initially she was going to change to UHL with me when I showed her I could save her $24/mo....Then I realized she could get RNA!! Case Closed!


Thats ^^^ more the norm for me!

 

[theinsuranceman]

I would disagree with that part. No, not everyone will change, some will stay & pay more. But most will change if u show them the same thing for less & show them how easy it is to change!!

CASE IN POINT- Replaced an AARP WL policy TODAY with RNA Essential Life, saved her $19/mo & gave her 15k more coverage! I know your example said same face amt, and initially she was going to change to UHL with me when I showed her I could save her $24/mo....Then I realized she could get RNA!! Case Closed!


Thats ^^^ more the norm for me!

So....you have less than 1 year in FE and you are using one "case in point"? How many agents have you interviewed in your one year? I've interviewed a few 100 myself and that's where my info is coming from. Are you saying you replace over 50% of the apps when you have a cheaper premium?

I've been doing FE only since 1999.... Go blow that smoke up someone else's arse!

 

[jdeasy]

A few facts.....

_Replacements do happen

_Replacements do not happen as frequently as some agents brag/claim, because if the replacements happened that often...

The FE Co.'s would be shrinking in size, and neither Co. is shrinking...both are growing.

and/or:

Market conditions/competition/replacements would force the Co.'s to lower premiums to keep from losing market share, and I don't see either Co. lowering premiums.

hence: replacements are probably no more than a thorn in the side for the Co.'s.

I've spoken with agents from RNA, Foresters, Oxford, etc. and they have all pretty much said the same thing to me....they have a difficult time getting someone to drop a higher priced policy and take out a cheaper policy (same face) with them.

Once people get into their comfort zone they don't usually like to change.
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LOL...Newby must be replacing LH policies his buddy JD wrote, and then JD sold em to Newby.

This is utter nonsense. LH policies are replaced all the time. They even have a division in the home office to fight replacements. They are the only company I know of that has an entire dept because of their business being replaced.

Newby has never replaced one of my LH policies but it's nice to know you are scared to death of us.

I would challenge you to prove that LH is growing. I also can't imagine that Sr Life is growing. They could be since I've never once run across one in 9 years of being an agent so 1 policy would be growth.

If they are growing why don't they have any rating with AM Best?

You can the talk the marketing BS all you want about keeping high priced policies on the books. It's still just marketing BS.
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So....you have less than 1 year in FE and you are using one "case in point"? How many agents have you interviewed in your one year? I've interviewed a few 100 myself and that's where my info is coming from. Are you saying you replace over 50% of the apps when you have a cheaper premium?

I've been doing FE only since 1999.... Go blow that smoke up someone else's arse!

You can sit in a garage for 10 years and it won't turn you into a Cadillac.

 

[TDFnCali]

So....you have less than 1 year in FE and you are using one "case in point"? How many agents have you interviewed in your one year? I've interviewed a few 100 myself and that's where my info is coming from. Are you saying you replace over 50% of the apps when you have a cheaper premium?

I've been doing FE only since 1999.... Go blow that smoke up someone else's arse!

Apparently u cant read among other things....I said "thats the norm for ME"! And yes, I DO replace well over 50% if face amt is the same but I can offer less prem...just cause you & your agents dont!

And if uve been doing this "since 99" and cant replace over 50%...maybe U SUCK!!!

 

[jdeasy]

Apparently u cant read among other things....I said "thats the norm for ME"! And yes, I DO replace well over 50% if face amt is the same but I can offer less prem...just cause you & your agents dont!

And if uve been doing this "since 99" and cant replace over 50%...maybe U SUCK!!!

He has written for SL and LH all that time. Where would he ever have the opportunity to beat a price?

 

[TDFnCali]

He has written for SL and LH all that time. Where would he ever have the opportunity to beat a price?

Ahhhh Haaa...that explains, I didnt think of that! If u sell policies 20-40% more then the competition I guess YOUR replacement conversion is pretty low!

Cmon Greg gives us the ole "Ive been selling insurance since 99, so I can say whateva I want to a newbie blah, blah, blah!" Save it!

I have no doubt u know more then me about insurance, no way in 9mos I soak up what u have in 13yrs. But dont tell ME, what MY conversion rate is cause u cant do it!

 

[richink]

The only if you get in the habit of doing nothing but replacing eventually it will start happening to you. As far as Lincoln heritage I wouldn't do business with them simply because their renewals are not vested and lifetime and their first year commissions aren't that great either. Just my opinion

Jason R Richardson LUTCF

 

[jdeasy]

The only if you get in the habit of doing nothing but replacing eventually it will start happening to you. As far as Lincoln heritage I wouldn't do business with them simply because their renewals are not vested and lifetime and their first year commissions aren't that great either. Just my opinion

Jason R Richardson LUTCF

^^Also utter nonsense.

 

[richink]

The only thing is if you get in the habit of doing nothing but replacing eventually it will start happening to you. As far as Lincoln heritage I wouldn't do business with them simply because their renewals are not vested and lifetime and their first year commissions aren't that great either. Just my opinion

Jason R Richardson LUTCF

Jason R Richardson LUTCF
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]The only thing is if you get in the habit of doing nothing but replacing eventually it will start happening to you. As far as Lincoln heritage I wouldn't do business with them simply because their renewals are not vested and lifetime and their first year commissions aren't that great either. Just my opinion

Jason R Richardson LUTCF[/QUOTE]

Jason R Richardson LUTCF