Senior Life Commissions

[theinsuranceman]

I just got a recruiting flyer from SL and it invited me to a meeting that is going to be held locally. It gave a quote for a $10,000 policy on a 65F being $38.12 monthly. She is insulin dependent, has HBP, high cholesterol, depression and has asthma. Where does this rate come from? FEX has preferred at $54.78.

The $38.12 is the super-preferred rate. Where are you located? You ought to go check it out and bring a friend or 2 (licensed or unlicensed).

As you can see, the super-preferred rate is not that tough to qualify for.

 

[billyb]

It may not be hard to qualify for, but for some reason SL agents that I have come across don't quote it. Wonder why?

 

[theinsuranceman]

It may not be hard to qualify for, but for some reason SL agents that I have come across don't quote it. Wonder why?

Beats me. A couple of years ago agents avoided it because commissions were shaved on it. Now it pays top commission and it's used wherever possible.

 

[DonP]

Greg you know thats BS bait and switch. You damm well know maybe 5-10% max of people get that rate . So SL agents sell a $10k policy super preferred and then of course its issued and your rate is 20% more than most FE policys. The agent comes back and says "Betty you didn't qualify for the best rate but the good news is we got you issued . The premium will be the same but your coverage will be $6k. Every single SL policy i run into i replace as the premiums are outrageous. I'm talking policy's 1-2 yrs old .

 

[theinsuranceman]

Greg you know thats BS bait and switch. You damm well know maybe 5-10% max of people get that rate . So SL agents sell a $10k policy super preferred and then of course its issued and your rate is 20% more than most FE policys. The agent comes back and says "Betty you didn't qualify for the best rate but the good news is we got you issued . The premium will be the same but your coverage will be $6k. Every single SL policy i run into i replace as the premiums are outrageous. I'm talking policy's 1-2 yrs old .

I can't compete with ignorance. Your facts are incorrect. But I wish you a very successful day.

Hint for you: Successful professionals don't use the selection of words you are using on a public forum.

And to state that your replace every SL policy you run across.....everyone up here knows that doesn't happen. You are looking a little less credible with each sentence you post.

I just got a recruiting flyer from SL and it invited me to a meeting that is going to be held locally. It gave a quote for a $10,000 policy on a 65F being $38.12 monthly. She is insulin dependent, has HBP, high cholesterol, depression and has asthma. Where does this rate come from? FEX has preferred at $54.78.

 

[rousemark]

Greg you know thats BS bait and switch. You damm well know maybe 5-10% max of people get that rate . So SL agents sell a $10k policy super preferred and then of course its issued and your rate is 20% more than most FE policys. The agent comes back and says "Betty you didn't qualify for the best rate but the good news is we got you issued . The premium will be the same but your coverage will be $6k. Every single SL policy i run into i replace as the premiums are outrageous. I'm talking policy's 1-2 yrs old .

You need to remember the ad was directed at the agent, not the consumer. Therefore, the ad is not deceptive since if the agent chooses he can sell a plan to someone with those conditions at the stated rate. SL would never be a choice for me but that is because of what they have revealed not anything they have hidden.

 

[noah]

SL is getting more competitive. Their app looks different.Ran into a M,63,NT,5K,preferred.....$32 and a little change just issued.
The dude was on insulin,has had hips replaced,back surgery so there were lots of meds on his RX for back pain like gabapentin, pregabilin .......no diabetic neuropathy.
Dude was also using a cane,had a wheelchair (Walmart use)rollator but is able to walk on his own.
He's pretty healthy,it's his body that's just worn out.
He wanted a little more coverage.
LBL would only go modified.

 

[theinsuranceman]

SL is getting more competitive. Their app looks different.Ran into a M,63,NT,5K,preferred.....$32 and a little change just issued.
The dude was on insulin,has had hips replaced,back surgery so there were lots of meds on his RX for back pain like gabapentin, pregabilin .......no diabetic neuropathy.
Dude was also using a cane,had a wheelchair (Walmart use)rollator but is able to walk on his own.
He's pretty healthy,it's his body that's just worn out.
He wanted a little more coverage.
LBL would only go modified.

Over the last few years, as other carriers have raised rates, tightened up their underwriting, or left the FE arena, Sr Life is constantly evolving and becoming more and more agent friendly.

2019's production was about 50% higher than 2018's production. And Jan., 2020's production is just over 60% higher than Jan., 2019's production.

As time goes on it seems more and more agents are joining us. Another possible reason some FE carriers will exit the FE arena in the future is because they don't have enough agents bringing in enough production to keep their doors open....lol. On the march to becoming the LARGEST FE carrier in America!

If anyone wants details about our opportunity feel free to call me...252-292-3350. Full-time and part-time welcomed.

 

[billyb]

I am planning to go to the meeting next week just to hear what they have to say. Maybe they will have food.

 

[noah]

Over the last few years, as other carriers have raised rates, tightened up their underwriting, or left the FE arena, Sr Life is constantly evolving and becoming more and more agent friendly.

2019's production was about 50% higher than 2018's production. And Jan., 2020's production is just over 60% higher than Jan., 2019's production.

As time goes on it seems more and more agents are joining us. Another possible reason some FE carriers will exit the FE arena in the future is because they don't have enough agents bringing in enough production to keep their doors open....lol. On the march to becoming the LARGEST FE carrier in America!

If anyone wants details about our opportunity feel free to call me...252-292-3350. Full-time and part-time welcomed.

No time to discuss at the moment. Please contact Todd King . I'm sure he would love to hear what you have to offer independent agents.
Heading out the door to write more business for Todd and the competitive lineup of carriers he offers our crew.