Rearden- Update

[coloradoseniormarket]

Aren't you the lucky one - I have only one

 

[WinoBlues]

Ya. From EFES a while back. On the retail side only, I believe.

You had an FE contract with out renewals?

 

[TDFnCali]

You had an FE contract with out renewals?

He maybe talking about Americo.....EFES made a deal with them that gave us 10 more pts up front & NO RENEWALS (on the retail side)!! I didnt realize how important it was when I was new, but like JD, I hate that deal now! That & that stupid new notice Americo wants from ppl 65+ is why Monu is clearly my 2nd fav company behind RNA now. Americo is gonna fade outta my rotation kinda like Foresters did after rate hike!

 

[WinoBlues]

He maybe talking about Americo.....EFES made a deal with them that gave us 10 more pts up front & NO RENEWALS (on the retail side)!! I didnt realize how important it was when I was new, but like JD, I hate that deal now! That & that stupid new notice Americo wants from ppl 65+ is why Monu is clearly my 2nd fav company behind RNA now. Americo is gonna fade outta my rotation kinda like Foresters did after rate hike!

Great deal Just pick them up else where. With proof production I know there is 130+ with renewals out there.

Yeah, add that and the new secondary address form for all 65+, of course that is all companies in Kalifornia. 10 lb apps in the near future?

 

[Rearden]

So EFES was feeding u old/worked leads?

No. Leads were always consistently good.

I one day received a notice from EFES that my Monumental renewals were eliminated and that my FYC dropped 5 points.

That had more to due with the fact that I wasn't doing the lead program, I believe.

 

[coloradoseniormarket]

No. Leads were always consistently good.

I one day received a notice from EFES that my Monumental renewals were eliminated and that my FYC dropped 5 points.

That had more to due with the fact that I wasn't doing the lead program, I believe.

Why would FYC drop and renewals if you weren't on the lead program? Aren't they still getting overrides on business written? Or because you are doing retail their bite is smaller? Anyway, they are not longer subsidizing leads so isn't that an offset? Just a thought because they aren't making money selling leads.

 

[jdeasy]

^^That seems odd to me as well. I don't know if I have two writing numbers with Monumental or not. I never use anything but my retail number anyway.

I do know I got a small bump in FYC with Mon and a take away on renewals last spring. I write so little with them that it doesn't matter anyway. Even less now that they stopped taking credit/debit cards. That was about the only reason to use them.

That Americo deal from 2 years ago is still a sore spot with me. They lowered their rates by 15% on UPI. They started paying us on the policy fee, they bumped FYC by 10% but took away all renewals. I didn't like it then and I don't like it now. I tried to negotiate my own deal where I didn't get the 10% bump in FYC but kept renewals but had no luck in doing so.

On you whole sale number with Americo you still get renewals.

I would do more business with Americo if it wasn't for that. I would never make a company my "go to" company without renewals. I pretty much only use them now for situations where others won't take the person and for male smokers over age 60 and pipe, cigar and smokeless tobacco users.

Of course here in Ky a lot of people fall into that latter category.

 

[Newby]

Monumental lowered everyone's renewals a year ago. They bumped 1st year 5% and lowered renewals around 40%.

Believe it or not most agent I talked to though they got a raise.

I don't blame the companies for lowering renewals if the majority of agents are to blind to see the value in them.

 

[WinoBlues]

Monumental lowered everyone's renewals a year ago. They bumped 1st year 5% and lowered renewals around 40%.

Believe it or not most agent I talked to though they got a raise.

I don't blame the companies for lowering renewals if the majority of agents are to blind to see the value in them.

I used to figure comp using 5 year and 10 year commissions on $1,000 ap. Your combination of fyc and renewals makes a lot more sense and is much easier to figure. Thanks for the idea.

 

[Todd King]

^^That seems odd to me as well. I don't know if I have two writing numbers with Monumental or not. I never use anything but my retail number anyway.

I do know I got a small bump in FYC with Mon and a take away on renewals last spring. I write so little with them that it doesn't matter anyway. Even less now that they stopped taking credit/debit cards. That was about the only reason to use them.

That Americo deal from 2 years ago is still a sore spot with me. They lowered their rates by 15% on UPI. They started paying us on the policy fee, they bumped FYC by 10% but took away all renewals. I didn't like it then and I don't like it now. I tried to negotiate my own deal where I didn't get the 10% bump in FYC but kept renewals but had no luck in doing so.

On you whole sale number with Americo you still get renewals.

I would do more business with Americo if it wasn't for that. I would never make a company my "go to" company without renewals. I pretty much only use them now for situations where others won't take the person and for male smokers over age 60 and pipe, cigar and smokeless tobacco users.

Of course here in Ky a lot of people fall into that latter category.

It never made sense to me why EFES took away the renewals on Americo. I know they give 115% on the retail side, but that is street level with Americo anyway, so why take away the renewals?