Senior Life Insurance Company Info

[gordon112]

When I worked for LH I had one of the best persistency in our group, which was only a bit above 80%. We had several agents that got in trouble with there % numbers going under 65%, and I was only there for around 4months, who knows how many more agents got crappier numbers.

In my estimation his % numbers is around 75% or worse, but could be wrong

 

[Norwayguy]

Totally different line of business but I contemplated joining a carrier that does a lot of business through the federal allotment system and paid on submissions. I was reading the contract and and there was a persistancy section at 50% persistancy advances where terminated and your contract was terminated at 40% persistancy.

I'm sorry if you allow persistancy that bad.....

 

[theinsuranceman]

When I worked for LH I had one of the best persistency in our group, which was only a bit above 80%. We had several agents that got in trouble with there % numbers going under 65%, and I was only there for around 4months, who knows how many more agents got crappier numbers.

In my estimation his % numbers is around 75% or worse, but could be wrong

For the record, LH, United Ins. Co., and SL calculate persistency using different formulas.

 

[Mattschmidt]

For the record, LH, United Ins. Co., and SL calculate persistency using different formulas.

why can't you tell people the % of policies you sell that are still on the books after 1 year? You been ducking me all day....Spill the Beans! Don't drag United insurance company and LH into it

 

[JimmyUt]

why can't you tell people the % of policies you sell that are still on the books after 1 year? You been ducking me all day....Spill the Beans! Don't drag United insurance company and LH into it

Seems like an easy question to me as well. You wrote and placed 100 apps, 50 still exist. Therefore 50%. I can't imagine it is that hard.

 

[Mattschmidt]

Seems like an easy question to me as well. You wrote and placed 100 apps, 50 still exist. Therefore 50%. I can't imagine it is that hard.

If insuranceman cant answer a simple question like this, I could only imagine what he is/isn't telling his agents. Scary

 

[theinsuranceman]

If insuranceman cant answer a simple question like this, I could only imagine what he is/isn't telling his agents. Scary

I asked you in a post above "how much was this info worth to you". You said "nothing". If this info is worth nothing to you, why would I spend any time and effort getting the info together for you?

If you'll get the formulas your carriers use I'll plug in my figures. You need some skin in the game. Get the formulas. Then I'll put forth the effort to plug in my figures.

 

[Mattschmidt]

I asked you in a post above "how much was this info worth to you". You said "nothing". If this info is worth nothing to you, why would I spend any time and effort getting the info together for you?

If you'll get the formulas your carriers use I'll plug in my figures. You need some skin in the game. Get the formulas. Then I'll put forth the effort to plug in my figures.

Here is a sample formula. Let's use north American as the carrier. I have placed 13 policies with them. All 13 are inforce as they have not lapsed or been surrendered. So persistency is 100%. American general, prudential MetLife etc all use the same formula. And if you don't know a rough idea of how many of your policies have lapsed that were sold over a 12 month period then I don't know what to tell you

 

[MGA]

Matt
Persistency can be figured many different ways and anyone can make the number be what ever they want it to be based on what their persistency definition is. Based on your definition most all fe companies are in the 65 to low 70s for 13th month persistency.

 

[Mattschmidt]

Matt
Persistency can be figured many different ways and anyone can make the number be what ever they want it to be based on what their persistency definition is. Based on your definition most all fe companies are in the 65 to low 70s for 13th month persistency.

That's why I specifically asked for 12 month persistency...It's not rocket science...That's why I narrowed it down for Insuranceman, that way we don't have to see him tip toe around it...