Royal Neighbors of America Raises...

[FETalk]

I run into people that want $3-$5k for cremation. So do you tell those people i'm not selling you under $5K screw you? lol. You don't run into people you sold $7k too that want another $3k? Obviously we run into different people .

Exactly!

 

[WinoBlues]

Could be that the lower face amount is not as persistent.. Agents pushing it on folks that cannot afford any thing more and can't really afford that.

That sounds the most plausible to me. My large face amounts are much sticker than the small face amounts.

They made a mistake a few years ago when they lowered the face for the FE

100%

More people will buy $30,000 and $35,000 if you show them those as well. If your top end is $25,000, their top end is $25,000.

So do you tell those people i'm not selling you under $5K screw you?

I tell them the minimum face is $5,000. Easy Speasy

Obviously we run into different people .

How many $3,000 cases does the average agent write a year?

Same argument from Term guys complaining about $100,000 minimum face amounts.

People tend to buy what we show.

 

[FETalk]

Could be that the lower face amount is not as persistent.. Agents pushing it on folks that cannot afford any thing more and can't really afford that. The larger face amounts are probably much more persistent.

Once again perhaps, but can you name any other insurance companies that have FE products with a minimum face over 5k? I could be wrong, but I think that you would be hard pressed to find any.

Also, you would think that if the persistency for face amounts of 5k and below were such a problem for RNA, that other companies would also be experiencing the same thing, and would be increasing their minimums as well.

 

[WinoBlues]

Also, you would think that if the persistency for face amounts of 5k and below were such a problem for RNA, that other companies would also be experiencing same thing, and would be increasing their minimums as well.

Minimum face for most companies used to be about $3,000 and $1,000 before that. Chit changes.

I have see $500 and $250 face amounts on policies I have reviewed.

Yes, I am old.

 

[FETalk]

That sounds the most plausible to me. My large face amounts are much sticker than the small face amounts.



100%

More people will buy $30,000 and $35,000 if you show them those as well. If your top end is $25,000, their top end is $25,000.



I tell them the minimum face is $5,000. Easy Speasy



How many $3,000 cases does the average agent write a year?

Same argument from Term guys complaining about $100,000 minimum face amounts.

People tend to buy what we show.

While I suspect that your right in regards to what you said about there not being to many agents that are writing a whole lot of 3k policies, there are definitely a lot of agents writing ones for 5K.

Also, there have been quite a few times that I have run into trouble with RNA's 5k face minimum; namely when I was trying to upgrade one of my client's 21k, 22k (etc.) RNA policy's with a little more coverage, but couldn't (with RNA) because of the 5k min.. So I can only imagine what it will be like with a 7k min.

 

[WinoBlues]

Also, there have been quite a few times that I have run into trouble with RNA's 5k face minimum; namely when I was trying to upgrade one of my client's 21k, 22k (etc.)

I understand. One I did last year was an existing client that had an old policy where the agent used premium purchase. She hated the odd face amount and wanted it rounded up with a small policy. But that was not a normal case.

But this show cases another advantage of being independent. We have multiple solutions to pick from.

 

[BibH]

That sounds the most plausible to me. My large face amounts are much sticker than the small face amounts.



100%

More people will buy $30,000 and $35,000 if you show them those as well. If your top end is $25,000, their top end is $25,000.



I tell them the minimum face is $5,000. Easy Speasy



How many $3,000 cases does the average agent write a year?

Same argument from Term guys complaining about $100,000 minimum face amounts.

People tend to buy what we show.

Wino I'm not saying I run into a lot of people that want $3 k or even $5 k. And there's plenty of CO's that have those amounts but not with the incredible underwriting of RNA and ease of their eapp.I was using for add ons and cremation but that's over with

 

[TwiLight]

Wino I'm not saying I run into a lot of people that want $3 k or even $5 k. And there's plenty of CO's that have those amounts but not with the incredible underwriting of RNA and ease of their eapp.I was using for add ons and cremation but that's over with

So what I hear you saying is that you sent crap business to RNA.

HMMM.... Maybe they want some business that is profitable.... just saying.

The Skipper

 

[BibH]

Crap? I'm going by their underwriting guidelines . If they were like other co's and had preferred and standard rates i'd do all my business their. Quite frankly there rates 50-65 are atrocious (especially 50-60) . Many times there rates are equal to standard at some carriers so thats why their underwriting is agressive

 

[rousemark]

Minimum face for most companies used to be about $3,000 and $1,000 before that. Chit changes.

I have see $500 and $250 face amounts on policies I have reviewed.

Yes, I am old.

I sold many a $500... never a $250 though.. We would have guarantee issue polices come down in $500 face amounts that folks just had to sign a form and pay the first 2 weeks premium to put them in force.