The 3 Reasons to sell

[rousemark]

"EZ Issue" was a real niche back in the day. It was beneath a lot of people to go down to West Philly and sell Mabel a policy. But many weren't cut out for the NYL/NML style, which around here was somewhat limited and competitive with everyone chasing the same upscale market. Agents where I started were constantly fighting over this doctor/lawyer or that business owner (other companies would be in there too).
Working leads gave people a chance to go outside their natural market and territory. They are now in control of their destiny!

I know LH was pushing FE in the early 80s. I did not contract with them but I did with another Londen company, Legacy Life. Not long after we started writing business with them the went into receivership.

 

[PA Bill]

I know LH was pushing FE in the early 80s. I did not contract with them but I did with another Londen company, Legacy Life. Not long after we started writing business with them the went into receivership.

From what the old heads told me, med supps was where it was at for "leads" agents back then. Commissions were way higher than they are now and it was an easier sell than life insurance.
My first senior market mentor told me his United American contract was crazy high (40) and the renewal (24) was level for the life of the policy!

 

[WinoBlues]

I don't actually know the company history, but my first run at indie was in 1994. I got a recruiting ad from Life of Boston (who later changed their name to Lincoln Heritage).

They were the first company I'd ever heard use the term to describe their specialized focus.

My first intro into Final Expense was United Heritage in 1992. Coming from the fully underwritten side I was shocked at how easy it was. Almost felt like I was stealing money.

Almost like all of the online non med options now.

EDIT: ooops, I forgot my * Sorry.

 

[Newby]

When I got in the final expense which would've been at the very end of the 1900s (damm that sounds old now) I had not heard of Lincoln Heritage having a final expense product. I was well aware of them having a Pre-need funeral product and had a guy I knew pretty well that was totally ate up with them. But it never occurred to me that they had a final expense product at that time.

 

[rousemark]

From what the old heads told me, med supps was where it was at for "leads" agents back then. Commissions were way higher than they are now and it was an easier sell than life insurance.
My first senior market mentor told me his United American contract was crazy high (40) and the renewal (24) was level for the life of the policy!

My initial GA contract with UA was 60%/15% lifetime renewal.

 

[PA Bill]

My initial GA contract with UA was 60%/15% lifetime renewal.

Dayum!

 

[rousemark]

Dayum!

Then concentrated on Pioneer at 70%/20%.....for med supp.

Best deal was National Savings Life Cancer Plan... 50% 1st year, 25% lifetime renewal.. The plan covered chemo/ radiation at 100% with no maximums.. Convinced the company to let us sell two policies to the client meaning they got 200% of charges so it was a good deal for the client.. Had an agency at the time and the guys wanted more first year commission so I changed to 70%/15% which was a mistake... Still have a few on the books 40 years later..

 

[KRobby]

It seems nearly everyone that posts on forums (very small sample of the selling agent force) uses a version of the 3 reasons which has been around for several decades. What would be far more interesting is hearing from the big producers that don't. If I'm not mistaken, one did over 500k in '15.