Senior Life Insurance Company Info

[Mattschmidt]

I too am a better agent because of this forum. There is some positive energy here. But that doesn't dispel the notion that there is a lot of negativity on this forum.

LH and SL (and myself) have had a lot of negativity hurled there way. Wouldn't you agree?
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My persistency is not broken down state by state. I sell in 12 different states via tele-sales and its all grouped together. I wish this were broken down state by state for the agents. Maybe it is for internal corp. info.

Persistency is also not broken down face 2 face compared to tele-sales. I also wish this was broken down.

My pers. is usually right in the middle of all the agents' persistency. My group's persistency also falls right about in the middle.

Doesn't matter what state or city I'm calling, I always hear the "let me think about it's", "can't afford it", "just mail me something", etc. about the same frequency between each state.

Closing % about the same state to state.
Probabilty of a bank acc't. about the same state to state.

Indiana is one of my favorite states though. Maybe try Ky. soon.

So what is the persistency. Just want the %. Not a long drawn out response

 

[Todd King]

I certainly did answer her question about persistency. No one can make a blanket statement about persistency. You should well know, with your experience, that persistency varies quite a bit from agent to agent within the same Co., and also varies from Co. to Co. within the same market.

If she is looking for the Co. wide ave. then I have no idea. If an agent calls a Co.'s headquarters requesting persistency info the agent will need to be specific. Meaning..a Co. will have an actuary persistency which is used in profitability calculations. Then that same Co. will have a different persistency %, using that exact same data along with a different formula
to show agents for recruiting purposes, newsletter, etc. You'll also find the actuary % is always lower.

If I felt I could make more PROFIT writing with another FE Co. I would already be at that Co. Every single Co. out there will have:

_Ex-agents who were unsuccessful bad mouthing the Co., their mgr., the leads, the underwriting..anything except themself.

_Agents who never wrote for a particular Co., (SL for ex.) yet they have all the "insider knowledge" of how things are. Their only source is heresay.

_I know for a fact that a lot of the producers at SL have looked at this forum, with only a few engaging in dialogue on here. The general consensus is that there a lot of FE cry babies on here, along with a lot of negativity. Most successful agents, whether with SL or another Co., don't hang around negative places nor waste hours up here each day. Probably you, JD, Newby, Reardon, myself and a few others are the exception to this rule.

_If a Co. like SL or Linc. Her., who have higher rates with looser underwriting and pay agents quickly without the usual underwriting hang ups, , could not succeed with this biz model I believe they would have abandoned this biz model years ago, don't you?

Excellent response! I too see the negativity, but some of what might be taken as negativity is not that, but may come across as that. For instance, if someone says that LH has higher rates and lower persistency than most companies, is that negative or the truth? I see it as the truth.

Of course, it also depends on the person reading as to how they take it; whether positive or negative. It is a matter of opinion.

 

[theinsuranceman]

Excellent response! I too see the negativity, but some of what might be taken as negativity is not that, but may come across as that. For instance, if someone says that LH has higher rates and lower persistency than most companies, is that negative or the truth? I see it as the truth.

Of course, it also depends on the person reading as to how they take it; whether positive or negative. It is a matter of opinion.

It even depends on if it's said objectively, or with hostility because their mgr. screwed them. Most readers can discern for themselves if something is said factually compared to something said with hostility.

 

[Mattschmidt]

It even depends on if it's said objectively, or with hostility because their mgr. screwed them. Most readers can discern for themselves if something is said factually compared to something said with hostility.

Hi Greg,

I think you missed my question where I asked what your Persistency % is in NC. Thanks in advance

 

[MGA]

Matt
Please share with me what your defition of a persistency measure is?
Tks

 

[theinsuranceman]

Hi Greg,

I think you missed my question where I asked what your Persistency % is in NC. Thanks in advance

I honestly don't know, I haven't checked the list in a couple of months. Whenever I check it every few months it's always fluctuating, just like yours and everyone else's.

I probably should spend a little more time each week calling people whose draft didn't clear that month.

And as I said earlier I have never seen my NC only persistency, My production each week is in different states....from NM to IL to La to NC and other states in between.

Since you're asking, how is your persistency looking? Can you show us the formula your co. uses in its calculations and then I'll plug my figures into the same formula.

 

[rousemark]

I do disagree that this forum is negative. This forum has been a Godsend for me. I can say positively that I am a better agent today because of participating in this forum.

Amen! .. oops! That was the preacher in me taking over. However, I do agree this forum does a lot of good.

 

[Mattschmidt]

I honestly don't know, I haven't checked the list in a couple of months. Whenever I check it every few months it's always fluctuating, just like yours and everyone else's.

I probably should spend a little more time each week calling people whose draft didn't clear that month.

And as I said earlier I have never seen my NC only persistency, My production each week is in different states....from NM to IL to La to NC and other states in between.

Since you're asking, how is your persistency looking? Can you show us the formula your co. uses in its calculations and then I'll plug my figures into the same formula.

I haven't had any of my insurance policies lapse or cancel. But I did convert some term I sold for a guy so technically one policy was cancelled. I have some 10 year term policies that will be expiring in about a year so I will update you in a year. I don't know why your afraid to tell people your persistency. It's a simple question

 

[Norwayguy]

I haven't had any of my insurance policies lapse or cancel. But I did convert some term I sold for a guy so technically one policy was cancelled. I have some 10 year term policies that will be expiring in about a year so I will update you in a year. I don't know why your afraid to tell people your persistency. It's a simple question

You have some 10 year term policies expiring or ending 10 year level premium period?

 

[Mattschmidt]

You have some 10 year term policies expiring or ending 10 year level premium period?

You are right. I didn't word that very well. Their initial 10 year guaranteed level premium period is approaching. I doubt they will keep inforce beyond this period. They may have a need for keeping some of the coverage inforce so we will review this down the road.