Not looking for guesses, I'm looking for his reasoning. Seems to be very thorough in determining her need, just wondering why LH. Even if he sold her preferred it's still higher than others with lower comp.
Replaced Foresters Today
- Thread starter funeraldirector
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Not looking for guesses, I'm looking for his reasoning. Seems to be very thorough in determining her need, just wondering why LH. Even if he sold her preferred it's still higher than others with lower comp.
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He's a funeral director. What carrier do you suppose he should sell that does this?
Lincoln Heritage - Home
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Lincoln Heritage sold off their entire block of preneed business to NGL last year and completely dropped out of the funeral preneed market. It's now marketed under the name Precola which is an NGL product.
All they have now is FE.
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Thanks, I admire a good guess as much as the next guy, and you're right. I don't like double kitting. Never have. Twenty years ago I wrote Forethought until Hillenbrand sold. I wrote Great Western exclusively for a long time and really liked selling their FE. I like knowing one app and one UW guidelines. I like the way I'm treated when I call Phoenix. I've programmed my TI-84 to compute LH premiums and I can carry that in my hip pocket when I work the street. I imagine I'd like the companies you all write for, but for right now I'm staying with the one that brung me to the dance...
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I know of a few reps who write primarily Flexible Premium Annuities with one carrier 90% of the time. Frankly I think that particular carrier has some of the worst rates, very conservative. However, they write more business than the guy who has 5 to choose from. They know their carrier like the back of their hand it it shines through their presentation. None of them sell on rates. They sell on their professionalism (after all knowing one product line makes things seamless), service, getting it right the first time, ect. However they also flex their muscle with rate history and renewal history which is something competitors can't do and in this game that's very important.
I was taught to never sell on rates. The first guy that is cheaper than you can easily replace you or in your case who may have sold too much premium but also provided no substance or something else besides a policy which in your case is a plan. You cement that baby right and now you have added value. If you do what you indicate you do, it will take a lot more than cheaper rates to come behind you and replace. Your carrier just happens to be LH as you say.
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- #36
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Thanks, I appreciate the kind words. It can get kinda lonely in this job esp working the street.
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So you are another one that's in it for ALL selfish reasons. Good for you.
You can sell on your "professionalism" and still do whats right. Sell them a product that gives them the best bang for their limited bucks. You CAN know 5 final expense companies very well. You don't sell on rates but offer the best rates of the similiar top rated companies. The reason it takes more then cheaper rates to replace some overpriced crap like LH is because they come to trust their agent and foolishly think they have their best interest at heart and wouldn't sell them overpriced crap so they are skeptical about changing. They just can't accept that THEIR agent would be a selfish dick.
Your trying to mix your own Kool Aide to justify screwing seniors. Shame.
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I don't even sell LH LOL. I just understand funeraldirector's train of thought. I have 11 final expense companies and I don't carry LH. I sell people what they can afford. You are obviously mistaken about me. There are many ways to replace without having to resort to rates. There are many ways to place business besides rates.
ACTUALLY I just checked........I have 13 FE companies. No LH
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it's all about the rates when selling whole life. It's the same product everywhere. it's just like selling med sups. The plans are standardized and will all pay. it's all about the money spent for the same product.
Now, there is a difference in company rating, at least to many agents there is. I won't sell a company that's not A rated for FE. Not so picky on med sups.
I offer my clients the best value on a whole life plan with an A rated company. If there is a better rate out there with an A rated company than what I offer it's because I didn't know about it. I will find out if there is one and I will pick that company up for future business.
I've written around 3000 life apps in my 8 full years in this business. I've replaced thousands of other polices. I have have only had 2 of mine replaced that I know about and newby did one of them. Well, 2 that i didn't get fixed. I had to get one re-instated today that a CL agent replaced last week by lying to the client. I don't count the ones I get straighened out as replacements.
So, I do sell on price and I don't get replaced. That is a great myth spead by the too high priced companies out there.
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Good work FuneralDirector- You are absolutely no more immoral than the "big guns" on here with their constant pimping of companies who are basically lead systems. Instead of making their money off the clients they make their money off the thousands of agents who wanted a fair shot.
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