Senior Life Insurance

[Todd King]

Ok...here we go. If the RD she talked to, that spent anywhere from 30 mins to an hour/hour and a half of their time with her, sent her a contract, then she should stop calling other SL people and wasting their time. The Powell's don't allow just "anyone" to be in that high of a position. So, the story isn't gonna be much different. Now, the training and what they focus on may be? The contract levels may be different yes. But then don't ask for info or a contract then if you're not 100% ready to commit? But yet, soooo many agents I talk to give the old "can you send me some information" or "go ahead and send me a contract" and never do squat. Yes, it's just an email but I value my time as money.

Why not just say, "thanks. I'll get back to you". I appreciate at that FAR more than a blow off comment. So, I guess I'm putting my cards on the table here? Folks...if you're not 100% positive after an hour discussion, that that is the route you want to take, please don't ask for more info to be sent like a customer? Need something to look over and read? Buy a newspaper.

Yes. I may be a bit tough like this but that's also why my agents actually sell and make a real living. And we have fun at the same time.

I'll close with one of my favorite lines out of one of my favorite movies. "Don't waste my MOTHERF*&% TIME!"

Looks like I'M goin to church Sunday!?

This is the nature of the marketing world. You're going to have this no matter what, so you best get used to it. If you can't take it, then you need to get out of the marketing world.

 

[theinsuranceman]

Just tell the prospective tire kicking agent that you'll gladly send the contracting paperwork, but 1st they'll need to send you a copy of their license and some sort of proof of production.

If they live with 1 hr. of you tell them you'll gladly provide the contracting paper work but 1st they'll need to drive to you for an interview to see if this is a good fit (for you and for them).

This will save you from wasting time, and only deal with the serious agents.

 

[Hopwood04]

Welcome to the forum!

 

[rousemark]

This is the nature of the marketing world. You're going to have this no matter what, so you best get used to it. If you can't take it, then you need to get out of the marketing world.

Well said.. Some that recruit might should keep in mind that there are people who are reading the forum, trying to make a decision on what FMO/MGA they want to use. Recruiters that use the forum to cop an attitude and complain about all the sorry agents with whom they have to deal probably won't have their "time wasted" even by the agents that will turn out to be good producers.

 

[Todd King]

Can you imagine a corporation that would charge you a fee to hire you? After all, they have to take the time to train you and such and you might not work out or you might decide the JOB is not for you and quit after they have spent time and money on you.

I can see it now... a person goes to Burger King to put in an app and they say, fine, we'll hire you, but you have to give us a $200 "training" fee first! Don't worry though, if you make it through 5 months and we decide you work out, then we'll pay you back.

What a crock!!

 

[FinalXman]

I contracted with them last spring, under Mitch Conner. He's a quality guy, but I found the company not competitve in terms of price, underwriting, or product. THey're not even close to being competitve.

Also, phone sales didn't work for me. It's very easy to have someone hang up on you. There are some people successful with them however.

 

[go4thegold]

Hello Y'all,

Has anyone ever worked with, or does anyone currently work with Senior Life Insurance? They are located in the great State of Georgia and I am seriously considering jumping on board.

Please don't hold back

Thanks Y'all!

I can give you my personal experience with them. I worked for Senior Life Insurance for about 3 months. Prior to Senior Life Insurance I hadn't sold very much life insurance so I didn't have much to compare them to. At first their TV leads were working real well. I sold many policies right off the bat, over the phone, and thought I hit a gold mine. However, after a few months, the quality of their TV Leads started going downhill. Also, as I started comparing rates and underwriting guidelines, I started to realize how mediocre a company Senior Life Insurance is. For one, when you compare their rates with top companies like Foresters, Americo, etc, they don't compare well at all. The only rate that Senior Life is competitive is with their Super preferred rates. But since most of your prospects are going to be senior citizens taking various medications with various health problems, only about 10% of people will ever qualify for Super Preffered. In many instances, Senior Life is almost $100.00 more PER MONTH than its competition, especially for people in their 70's and 80's. Also, Senior Life caps their commission advances at $700.00 per sale, even when you are signing up an entire family!! That could cost you thousands of dollars in up front money, it sure did for me. Plus, if you sign up someone who qualifies for Super Preffered rates, Senior Life reduces your coommission by about 35%!! What other life insurance company PENALIZES their agents for insuring HEALTHY PEOPLE?! That is ludicrous!! They are subsidizing SUPER Preffered rates by cutting agents commissions. Also, that was never revealed to agents when I and many others signed up, because its not in their manuals. My manager didn't even know this!!! As soon as I found this out, I knew that Senior Life was screwing its agents and I started looking elsewhere. Look, if a life insurance agent has any decent experience in Life insurance, I can't see how ANY experienced life insurance agent would ever want to work for Senior Life. Their rates aren't competitive, they cap commissions for super preferred rates and advance commissions, and they are not rated by AM BEST!! They are only 10 years old!! When I asked the company why they are not AM BEST rated, I was told that they didn't want to spend the money to be rated by AM BEST! I couldn't believe that! Anyways, my recommendation to anyone considering Senior Life is to compare their rates with other established companies, financial strength, and you will see, they are really sub par. Oh, their renewals are only about 2-3%, at least at my contract level, which was 90%. 2% renewal is a joke. So is Senior Life Insurance.

 

[BenS]

Thanks for the info, but please use paragraphs next time. That gave me a headache.

 

[jacobtn]

Very enlightening. Basically affirmed what I thought about this crooked band of thieves. The AM Best rating (or lack of) will be helpful. They probably didn't want to pay to get a B rating which wouldn't have looked very good on them.

I can give you my personal experience with them. I worked for Senior Life Insurance for about 3 months. Prior to Senior Life Insurance I hadn't sold very much life insurance so I didn't have much to compare them to. At first their TV leads were working real well. I sold many policies right off the bat, over the phone, and thought I hit a gold mine. However, after a few months, the quality of their TV Leads started going downhill. Also, as I started comparing rates and underwriting guidelines, I started to realize how mediocre a company Senior Life Insurance is. For one, when you compare their rates with top companies like Foresters, Americo, etc, they don't compare well at all. The only rate that Senior Life is competitive is with their Super preferred rates. But since most of your prospects are going to be senior citizens taking various medications with various health problems, only about 10% of people will ever qualify for Super Preffered. In many instances, Senior Life is almost $100.00 more PER MONTH than its competition, especially for people in their 70's and 80's. Also, Senior Life caps their commission advances at $700.00 per sale, even when you are signing up an entire family!! That could cost you thousands of dollars in up front money, it sure did for me. Plus, if you sign up someone who qualifies for Super Preffered rates, Senior Life reduces your coommission by about 35%!! What other life insurance company PENALIZES their agents for insuring HEALTHY PEOPLE?! That is ludicrous!! They are subsidizing SUPER Preffered rates by cutting agents commissions. Also, that was never revealed to agents when I and many others signed up, because its not in their manuals. My manager didn't even know this!!! As soon as I found this out, I knew that Senior Life was screwing its agents and I started looking elsewhere. Look, if a life insurance agent has any decent experience in Life insurance, I can't see how ANY experienced life insurance agent would ever want to work for Senior Life. Their rates aren't competitive, they cap commissions for super preferred rates and advance commissions, and they are not rated by AM BEST!! They are only 10 years old!! When I asked the company why they are not AM BEST rated, I was told that they didn't want to spend the money to be rated by AM BEST! I couldn't believe that! Anyways, my recommendation to anyone considering Senior Life is to compare their rates with other established companies, financial strength, and you will see, they are really sub par. Oh, their renewals are only about 2-3%, at least at my contract level, which was 90%. 2% renewal is a joke. So is Senior Life Insurance.

 

[RonRoberts]

Just tell the prospective tire kicking agent that you'll gladly send the contracting paperwork, but 1st they'll need to send you a copy of their license and some sort of proof of production.

If they live with 1 hr. of you tell them you'll gladly provide the contracting paper work but 1st they'll need to drive to you for an interview to see if this is a good fit (for you and for them).

This will save you from wasting time, and only deal with the serious agents.

I just happened to read this today and thought I would reply. Greg, why would you call a prospective agent a "tire kicker" when for the most part they are trying to get enough info to make an informed decision?

If I contacted Todd King, Chris Westfall, Frank Stastny, or Mark Rosenthal with regard to contracting, I do not believe that they would request a copy of my license for them to send me contracting paperwork.

Shouldn't we all have an opportunity to sample the merchandise before we buy? Shouldn't we all have an opportunity to compare apples to apples (not eat) before we pick what we think are the juiciest from the box? Why so much secrecy?
Just answer the questions that I have and send me the paperwork and I will sign on the dotted line if I am interested.

If Todd, Chris, Frank, and Mark are all IMO's for the same carrier why should I not talk to each one and look at the contracts, training, and support before agreeing to anything? There should not be "well, you talked to Mark first so I can't help you," or like you told me when I told you I had talked to Bobby already. I understand that this may be a waste of time for one of them or you but we as agents don't get to be so picky about prospects, why should we prospective agents be expected to place any manager or IMO in any higher regard?

I simply disagree with the "well you talked to Joe so you have to go through Joe if you want to sell my widgets."

Greg, I must say that you took the time to talk with me several months ago about Senior Life, Lincoln Heritage, and telesales in general. Thanks, and I do not mean this post in disrespect.

Ron