The Amber Scherloz Thread
- Thread starter Amber Scherloz
- Start date
xpirtdesign
Expert
- 34
Re: Multiple Insurance Companies
yeah i would also use multiple insurance companies
yeah i would also use multiple insurance companies
- 10,275
Re: Multiple Insurance Companies
I don't get caught up with bonuses etc...If 10 different carriers is best for 10 different clients..so be it.
I don't get caught up with bonuses etc...If 10 different carriers is best for 10 different clients..so be it.
- 393
Re: Multiple Insurance Companies
To me, maximizing my compensation comes from doing whats best for each client. Then I keep them happy and get referrals from them that more than compensate for any loss of bonus money I might have.
I had a client who was buying plans for Himself, His granddaughter, and one of his sons last week. They couldn't be on the same plans anyways but we went through and ended up with a different carrier for each situation. However, even though I could write for 10 different major med carriers I write 90% of my business with 4 of them.
You can't get caught thinking about what's best for you or you'll never build a solid book of biz & referrals. Do whats right and the rest will follow.
To me, maximizing my compensation comes from doing whats best for each client. Then I keep them happy and get referrals from them that more than compensate for any loss of bonus money I might have.
I had a client who was buying plans for Himself, His granddaughter, and one of his sons last week. They couldn't be on the same plans anyways but we went through and ended up with a different carrier for each situation. However, even though I could write for 10 different major med carriers I write 90% of my business with 4 of them.
You can't get caught thinking about what's best for you or you'll never build a solid book of biz & referrals. Do whats right and the rest will follow.
- 1,459
Re: Multiple Insurance Companies
I agree with this statement, however, price isn't the only factor in recommending life insurance. If it was, my business would be spreadout much more. There aren't many companies that hit my criteria:
1. Competitive rates.
2. Strong conversion options and product portfolio.
3. Financial stability.
4. 3 Way Win (Client-Producer-Company)
Therefore, most of my business goes to one carrier, except for special medical conditions and products not offered by the primary carrier. There is nothing unethical about doing business this way. If you're clients are balking because another carrier is $5 per month less expensive, it's because they view you (and the life insurance) as a commodity. This isn't the type of client I personally want, penny wise and pound foolish.
I agree with this statement, however, price isn't the only factor in recommending life insurance. If it was, my business would be spreadout much more. There aren't many companies that hit my criteria:
1. Competitive rates.
2. Strong conversion options and product portfolio.
3. Financial stability.
4. 3 Way Win (Client-Producer-Company)
Therefore, most of my business goes to one carrier, except for special medical conditions and products not offered by the primary carrier. There is nothing unethical about doing business this way. If you're clients are balking because another carrier is $5 per month less expensive, it's because they view you (and the life insurance) as a commodity. This isn't the type of client I personally want, penny wise and pound foolish.
- Thread starter
- #99
- 147
Re: Multiple Insurance Companies
Very interesting points. I came to realized that for each field it is difficult to just consider one company. Of course, each company has its own flaws so maybe it will be reasonable enough to choose the best for each field.
Very interesting points. I came to realized that for each field it is difficult to just consider one company. Of course, each company has its own flaws so maybe it will be reasonable enough to choose the best for each field.
- Thread starter
- #100
- 147
Online Insurance Companies
I got some clients who asked about online insurance, where they don't need to go face to face with the agent and it is more convenient for them to make some queries on the different policies or maybe update their information on current policies. I wonder if it is more reliable than the normal insurance companies that are not web-based. What are the advantages and disadvantages of having an online insurance policy and provider?
I got some clients who asked about online insurance, where they don't need to go face to face with the agent and it is more convenient for them to make some queries on the different policies or maybe update their information on current policies. I wonder if it is more reliable than the normal insurance companies that are not web-based. What are the advantages and disadvantages of having an online insurance policy and provider?
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