Senior Life + Technology . . .

[Todd King]

Greg, seriously? Asking questions makes you want to take your ball and go home? I was about to say that your answer to me (about "bundling") makes sense. So now if I'm competing with you or one of your agents, I know not to raise that as an issue. And while Todd disagrees that it's worth anything, I think that if it's presented correctly, it could be a genuine benefit to the consumer. I can also see how it would lock in the sale for the agent. I was just concerned that the client is understanding everything correctly.

Don't misunderstand what I'm saying. I do think it has value and an agent can absolutely use that to make the sale and lock it in.

My point is that, in the end, it doesn't get used very much at all. If what I'm saying is true, then why should a client pay for something that ultimately won't get used?

 

[shonceman]

Don't misunderstand what I'm saying. I do think it has value and an agent can absolutely use that to make the sale and lock it in.

My point is that, in the end, it doesn't get used very much at all. If what I'm saying is true, then why should a client pay for something that ultimately won't get used?

I understand what you're getting at. But I make it clear to my clients that I'm there to help walk them through the claims process. If I was providing a plan like this, I would make sure they used it when the time came (assuming I'm still around by then).

 

[rousemark]

Anybody considered that you can present Settlers "Covered" as a similar values added item that will even help while they are alive as well as helping at death. And, it is FREE.

 

[shonceman]

Anybody considered that you can present Settlers "Covered" as a similar values added item that will even help while they are alive as well as helping at death. And, it is FREE.

I did think of that. Even looked it up to see if it's similar. It's a good value-add, but not really the same. I'm still kind of fond of old "Huff-Cook"! I've kept a contract with them for the last 24 years. Even when I went back to AGLA for awhile, my DM let me keep that and one other contract active. (I made that a condition of signing on.) Sometimes when I call, one of the older customer service people still answers the phone. Then it's old home week! I just wish they were a bit more competitive, and a little quicker on the POSTI.

 

[Rirwin]

Doesn't sl or lh cut your commissions if you don't sell he legacy plan?

 

[theinsuranceman]

Greg, seriously? Asking questions makes you want to take your ball and go home? I was about to say that your answer to me (about "bundling") makes sense. So now if I'm competing with you or one of your agents, I know not to raise that as an issue. And while Todd disagrees that it's worth anything, I think that if it's presented correctly, it could be a genuine benefit to the consumer. I can also see how it would lock in the sale for the agent. I was just concerned that the client is understanding everything correctly.

You misunderstood. I had to get off this forum and go make some $$$! I don't know how you guys sit up here all day.

 

[myinsurebiz]

Anybody considered that you can present Settlers "Covered" as a similar values added item that will even help while they are alive as well as helping at death. And, it is FREE.

Where is information this? I have an appt with them and never used it.

 

[myinsurebiz]

I would like to see, over time, what the percentage of actual use is. It might be the best thing since spineless okra, but if history tells us anything it is telling us that very very few even use it. Why? Because they don't bother setting themselves up for it or they don't bother to tell anyone else about it and when the time comes they sure as hell aren't talking then! LOL

Now - that's funny . . .

 

[theinsuranceman]

Don't misunderstand what I'm saying. I do think it has value and an agent can absolutely use that to make the sale and lock it in.

My point is that, in the end, it doesn't get used very much at all. If what I'm saying is true, then why should a client pay for something that ultimately won't get used?

Think of it this way: Sr Life wants more policy holders. So when a policy holder passes, SL will let the family know that their deceased has a Legacy-Assurance plan which allows them to pay just $3500 for the casket, vault, and monument. SL also lets the family know which casket was selected by the deceased when they first became a member.

This is a great time to enroll more policy holders, not just because of death, but because lots of family members are finding out they can also get their casket, vault, and monument locked in at $3500, and it stays $3500 the rest of their life.All they have to do is take out a policy or live in the same house of a member!

As a side note, Ms. Jones can get a SL policy and her Legacy-Assurance membership will cover up to 4 additional family members, as long as they live in the same house, at no charge and they don't have to get a SL policy either. When Ms. Jones is hesitating taking out a policy, and you let her know that if she enrolls TODAY that her husband and 3 children are also able to get their casket, vault, and monument locked in for $3500, and it stays $3500 for the rest of their life and they don't need to get a SL policy, that will help her jump over the hurdle and enroll.

It's also like each of her family members are getting about $3500 of insurance for free because each family member is getting their casket, vault, and monument locked in for $3500, where as it costs about $7000 over at the funeral home.

And for policies with waiting periods on natural death payout, the Legacy savings start the 1st day the policy is issued! It's like about $3500 of immediate coverage for the GI policy holder as there is no waiting period for Legacy's savings.

This might make it easier to see how an agent's closing % will increase. Just one or two extra sales per 15-20 leads is the difference between an agent staying on board with you or failing out of the business.

Everyone is welcome to call me for details or questions.

 

[HoosierLife]

Think of it this way: Sr Life wants more policy holders. So when a policy holder passes, SL will let the family know that their deceased has a Legacy-Assurance plan which allows them to pay just $3500 for the casket, vault, and monument. SL also lets the family know which casket was selected by the deceased when they first became a member.

This is a great time to enroll more policy holders, not just because of death, but because lots of family members are finding out they can also get their casket, vault, and monument locked in at $3500, and it stays $3500 the rest of their life.All they have to do is take out a policy or live in the same house of a member!

As a side note, Ms. Jones can get a SL policy and her Legacy-Assurance membership will cover up to 4 additional family members, as long as they live in the same house, at no charge and they don't have to get a SL policy either. When Ms. Jones is hesitating taking out a policy, and you let her know that if she enrolls TODAY that her husband and 3 children are also able to get their casket, vault, and monument locked in for $3500, and it stays $3500 for the rest of their life and they don't need to get a SL policy, that will help her jump over the hurdle and enroll.

It's also like each of her family members are getting about $3500 of insurance for free because each family member is getting their casket, vault, and monument locked in for $3500, where as it costs about $7000 over at the funeral home.

And for policies with waiting periods on natural death payout, the Legacy savings start the 1st day the policy is issued! It's like about $3500 of immediate coverage for the GI policy holder as there is no waiting period for Legacy's savings.

This might make it easier to see how an agent's closing % will increase. Just one or two extra sales per 15-20 leads is the difference between an agent staying on board with you or failing out of the business.

Everyone is welcome to call me for details or questions.

I have a couple questions:

1. With premiums so high, why do y'all start agents so low on comp?

2. Explain the chargeback rules. I don't see how they're any different than how independent carriers work, but multiple SL marketers have told me they don't have to pay chargebacks at all.

3. What's up with the preferred plan? 35% lower comp and they have to be taking no medications at all? High cholesterol or HBP knocks them out?

4. Why do you terminate agents and take renewals if they stop writing policies for 1 month? And you make them pay the ~$100 application fee to sign up again and again. What's up with that?

5. I know someone who got a Vector letter from y'all for $0. Come on???