Senior Life Insurance Company Info

[VolAgent]

If I was Greg, I wouldn't bother posting my persistency figures.

If it is high, you'll say he lied about it and if it is low, you'll use it to ridicule him and his business methods. There really is nothing to gain by it. He has said several times his is about average, maybe slightly low because of tele-sales.

Now I for one would love to see a SL rate book and app. You keep hearing about how expensive they are supposed to be, and Greg keeps saying they will give insulin-dependent diabetics their best rates. I have to admit, I would be curious to see it.

 

[Iwillpay]

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.

The formula for persistency 13 months from my experience is:

Total commissions-lapses+reinstatements/Total commissions(13mths).
Then again some comes use 24mths for persistency.

 

[Mattschmidt]

If I was Greg, I wouldn't bother posting my persistency figures.

If it is high, you'll say he lied about it and if it is low, you'll use it to ridicule him and his business methods. There really is nothing to gain by it. He has said several times his is about average, maybe slightly low because of tele-sales.

Now I for one would love to see a SL rate book and app. You keep hearing about how expensive they are supposed to be, and Greg keeps saying they will give insulin-dependent diabetics their best rates. I have to admit, I would be curious to see it.

Get appointed with them and then cancel your contract. You would be able to have the requested information at your disposal. And I wasn't going to ridicule him. I'm just curious how fe telesales persistency holds up to face to face sales. There's. Guy in my area that's wants to share an office and wants to do fe telesales in the area. Thus the reason for my curiosity. I have a guy I know who sells for senior life and he is working on obtaining these rates in my tri state area

 

[VolAgent]

Get appointed with them and then cancel your contract. You would be able to have the requested information at your disposal. And I wasn't going to ridicule him. I'm just curious how fe telesales persistency holds up to face to face sales. There's. Guy in my area that's wants to share an office and wants to do fe telesales in the area. Thus the reason for my curiosity. I have a guy I know who sells for senior life and he is working on obtaining these rates in my tri state area

I said I am curious, but not to the point I'd contract.

 

[jdeasy]

There is only one way to figure the 13 month persistancy. What percentage of issued policies are still on the books at the 13th month.

This is not rocket science. Anything other than that figure is smoke and mirrors. I know that mine runs from 68% on my lowest company to 92% on my highest.

Any agent that doesn't know what the persistancy is is either lying or a dumbass.

 

[senior-advisor-indiana]

There is only one way to figure the 13 month persistancy. What percentage of issued policies are still on the books at the 13th month.

This is not rocket science. Anything other than that figure is smoke and mirrors. I know that mine runs from 68% on my lowest company to 92% on my highest.

Any agent that doesn't know what the persistancy is is either lying or a dumbass.

They can't be both?

 

[GreenSky]

They can't be both?

"Mirror, mirror on the wall." Give that a shot and let us know if you're both.

Rick

 

[theinsuranceman]

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

Ok, let's look at production from July 2011 to July 2012....

Some would calculate 13 month pers. as % of biz written ONLY in July 2011 that are still on books at July 2012's end

Some would calculate 13 month pers. as % of biz written from July 2011 to July 2012, inclusive, that are still on the books at July 2012's end. Now we are counting lapses from Aug. 2011 to July 2012 which we did not count in the previous pers. formula. We are also counting production from Aug. 2011 to July 2012 which we were not counting in the previous pers. formula.

SAME DATA yet DRASTICALLY different 13 month persistency %'s.

Matt, now do you have a better grasp of what I'm talking about? Being a "financial advisor to the FE market" you probably understand the mathematics better than others.

Pretty simple the way I've laid it out for you and a few select others.

If you look at LH's formula it's much different than these 2 examples (at least it used to be). Different co.'s can play with the figures to make the unsuspecting become a suspect.

Remember, no matter how high or how low my persistency is does NOT determine your or any other agent's persistency.

Just like no matter how well or how poorly you can milk a set of 20 leads has NO bearing on how well I'll do with the same leads.

Since you are kinda new to FE remember it's the agent who has the MOST influence on his closing %, persisitency %, referral %, production per hour, any kind of metrics you would use to measure performance.

 

[jdeasy]

[/b]

Ok, let's look at production from July 2011 to July 2012....

Some would calculate 13 month pers. as % of biz written ONLY in July 2011 that are still on books at July 2012's end

Some would calculate 13 month pers. as % of biz written from July 2011 to July 2012, inclusive, that are still on the books at July 2012's end. Now we are counting lapses from Aug. 2011 to July 2012 which we did not count in the preious pers. formula.

SAME DATA yet DRASTICALLY different 13 month persistency %'s.

Matt, now do you have a better grasp of what I'm talking about? Being a "financial advisor to the FE market" you probably understand the mathematics better than others.

If you look at LH's formula it's much different than these 2 examples (at least it used to be). Different co.'s can play with the figures to make the unsuspecting become a suspect.

The 13th month persistancy would be the percentage of policies still on the books from the 13th prior month.

It's the same with every company. That persistancy will change every month.

You gujys that won't answer are throwing a bunch of numbers against the wall to try to keep from answering a simple question.

If you don't want to say what it is, just say you don't want to mention it. Why try to throw up a smokescreen?

 

[theinsuranceman]

The 13th month persistancy would be the percentage of policies still on the books from the 13th prior month.

It's the same with every company. That persistancy will change every month.

You gujys that won't answer are throwing a bunch of numbers against the wall to try to keep from answering a simple question.

If you don't want to say what it is, just say you don't want to mention it. Why try to throw up a smokescreen?

JD, pertaining to the bold above, surely you remember from your LH days they used a formula that was no way similar.

I for one have said I have very little interest in posting any pers. % unless I'm using the same formula as the requester (Matt)'s co. uses.