Senior Life Insurance Company

[Newby]

Low commissions? That depends on the mgr. the recruit is talking to. Recruits with proven track records can get contracts over 100%, just like you give out Newby. In fact, agents who write $200k+ per year can get higher than the 115% contracts you give out! Expensive leads? DM leads are $29 and they have a "no PO Box" filter, an income filter, and an age filter. $29 is an excellent price with these filters. They also have "life insurance" in bold print in the 1st sentence and are very directly worded. They talk about the high costs of funerals, etc. and come in an 8x11 snap pack mail piece. There is no confusion that the DM piece is talking about life insurance, nothing mentioned in vague wording. Never hear prospects saying "I thought this was some thing free from the gov't". DISCLAIMER: DM leads are $35 in Fl., $29 in all the other states. You don't think that it's a little complicated for a new agent to have to learn several FE companies at the start? I talk to FE agents all the time who feel overwhelmed learning so many companies at the start. Always having an app declined due to confusion of which company to pick. Not to mention apps that are 7-15 pages long. I like that SL keeps things simple with a one page app. SL (and LH) have higher premiums because there are no MIB's, No script checks, no APS's. I like it that way because I get paid based on production issued with no worries of an MIB, RX check, etc. getting in the way of me getting paid. In fact charge backs never interrupt me getting paid like it is with the other FE companies that you represent. If higher premiums meant lots of replacements don't you think LH or SL would change their business model? If there were lots of replacements they would lower premiums and tighten underwriting and do PHI's, MIB's, etc. like a lot of the companies you represent. Not trying to argue with you Newby but you really should know your facts before you start to criticize a competitor.

Sounds better than I thought on lead cost. Commissions still low since brand new agents with no production start at 115 as an independent. 120% with some companies. And $200,000 producers make more than that.


Plus a lot more Senior Life cases go to graded which lowers commissions further.

Chargebacks affect you either way. Money that was yours becomes theirs when you get chargebacks. And no MIB and no script check = more recissions. I'm pretty certain Senior Life isn't going to disclose what percent of death claims get paid. Can't be good.

But everyone needs to sell what they believe in. I'm not one of those that believes you're evil if you sell a higher price policy. I just think it's easier to make sales with better prices. And definitely if I can give people first day full coverage on a case where you're going to have to give them the graded policy I'm going to win that one 100% percent of the time.

 

[dfry]

Thanks for the info. I decided to give it a try because they have live call transfers for $40 from the commercials that are being aired. Gotta love it when they call you.
100% contract so we'll see how it goes. 100% of something good is much better than 115% of a crappy lead.
Low costs to see if there good. I'll know after 20 live transfers how they are so I can shut it down if they suck.
$30 background check is nothing if they are good.

 

[Mr C]

Senior Life flew me down to GA some time ago.... they had a decent call center going and many call in leads. But the product was higher cost than virtually everyone else out there. But was turned me off about them is that they wanted me and my agents to pay for back ground checks, and then pay for supplies. Sorry, that killed it.

 

[Iwillpay]

Senior Life flew me down to GA some time ago.... they had a decent call center going and many call in leads. But the product was higher cost than virtually everyone else out there. But was turned me off about them is that they wanted me and my agents to pay for back ground checks, and then pay for supplies. Sorry, that killed it.

But you squirm at paying $30 bucks for background check and didnt look at the possible returns.

Thats not the way to do business.

Thats just the cost of a lead

 

[PA Bill]

Thanks for the info. I decided to give it a try because they have live call transfers for $40 from the commercials that are being aired. Gotta love it when they call you.
100% contract so we'll see how it goes. 100% of something good is much better than 115% of a crappy lead.
Low costs to see if there good. I'll know after 20 live transfers how they are so I can shut it down if they suck.
$30 background check is nothing if they are good.

No shame in that. Most of us started in a "career shop" like this. First things first, they will really teach you the basics of selling FE. If and when you're ready to move on, you obviously know there are plenty of sharp guys on here to help you transition.

p.s.- 100%? Those crumbs started me at 90!

 

[Mr C]

But you squirm at paying $30 bucks for background check and didnt look at the possible returns.

Thats not the way to do business.

Thats just the cost of a lead

Sorry, but I've been in this business 29 years, ran a few very large agencies..... and not too very long ago made close to 100K in a 6 week period during AEP. I've NEVER had an insurance company charge for a background check. "THAT'S" not the way to do business.

 

[RJ Hyatt]

Thanks for the info. I decided to give it a try because they have live call transfers for $40 from the commercials that are being aired. Gotta love it when they call you.
100% contract so we'll see how it goes. 100% of something good is much better than 115% of a crappy lead.
Low costs to see if there good. I'll know after 20 live transfers how they are so I can shut it down if they suck.
$30 background check is nothing if they are good.

How's it going for you over there? I know they got a terrible rep on here, but its hard to take some of these guys seriously since all they clearly care about is recruiting, of don't know how to take responsibility so they blame everything and everyone.

 

[John Galt]

How's it going for you over there? I know they got a terrible rep on here, but its hard to take some of these guys seriously since all they clearly care about is recruiting, of don't know how to take responsibility so they blame everything and everyone.

Thats not true at all. Most forum users here are producers....with producer/trainer/recruiters as well and the very very very rare full time recruiter or marketer.

Have you even read much here?

 

[RJ Hyatt]

Thats not true at all. Most forum users here are producers....with producer/trainer/recruiters as well and the very very very rare full time recruiter or marketer.

Have you even read much here?

If I posted something around the lines of- "Looking for a contract email me at [email protected]"

How many responses would I get? Part time recruiters that post on this forum full time, are not producers man, but you already know that.

 

[rousemark]

If I posted something around the lines of- "Looking for a contract email me at [email protected]"

How many responses would I get? Part time recruiters that post on this forum full time, are not producers man, but you already know that.

Well, let's see. Rearden is most ddefinitely a producer.. over 450 personally produced apps last year. Newby and Travis are producers, so is Galt, Boman and many others... And the non producing recruiters are?