The Whole World is Getting Laid Off These Days....

[dgoldenz]

I tracked my leads for the first time starting this month, before that I just went with the flow. These are all PZ leads, not that it really matters.....my filters are for 2+ people and "yes" for current coverage, no age restrictions. This is all in Virginia.

46 leads
27 contacts
22 had been laid off or were concerned about being laid off in the next 3 months
11 already approaching their exhaustion of COBRA
5 unaware of COBRA subsidy, lost all of those cases
9 applications completed from the 46 leads

Very good closing % for the month, I expect at least 7 of them to pass underwriting, but really, really depressing....and I keep seeing reports about how great the economy is doing. What are these people smoking?

Side note - it's interesting that in rural VA is where the biggest concentration of layoffs was. A couple of them were from Northern VA, but there are a lot of government employees here in NOVA, and a much lower % of those I spoke with from this area were laid off....I don't know if that's just a coincidence or has to do with the average income up here, or what, but it shows you where mainstream America is at being similar to the rest of VA.

 

[ntbktrader]

I came from the life side and we are getting stacks of people wanting to cash out 1-2-3 hundred dollars out of universal life policies they've had for years. We tell them of the $25 fee and they don't care. if you are scrounging for a few hundred bucks like that you are all ready in big trouble.

 

[somarco]

You must have missed PresBO's speech the other night. He hears you and is bringing bags of OPM to create jobs.

Heck, he and Obiden even flew to Tampa the next day to tell them he was going to give them $2.5 billion to build a high speed rail line from Tampa to Orlando.

That will create some jobs.

In about 10 years.

 

[Justin Bilyj]

bags of opium?

 

[somarco]

Other People's Money . . .

 

[ins.dave]

I tracked my leads for the first time starting this month, before that I just went with the flow. These are all PZ leads, not that it really matters.....my filters are for 2+ people and "yes" for current coverage, no age restrictions. This is all in Virginia.

46 leads
27 contacts
22 had been laid off or were concerned about being laid off in the next 3 months
11 already approaching their exhaustion of COBRA
5 unaware of COBRA subsidy, lost all of those cases
9 applications completed from the 46 leads

Very good closing % for the month, I expect at least 7 of them to pass underwriting, but really, really depressing....and I keep seeing reports about how great the economy is doing. What are these people smoking?

Side note - it's interesting that in rural VA is where the biggest concentration of layoffs was. A couple of them were from Northern VA, but there are a lot of government employees here in NOVA, and a much lower % of those I spoke with from this area were laid off....I don't know if that's just a coincidence or has to do with the average income up here, or what, but it shows you where mainstream America is at being similar to the rest of VA.

You're complaining?
When I first started to read this I was ready to do the Barry backpeddle bash full on and rant yet again about how they have tried to hurt our industry via ARRA and its extension, etc., but you did what out of 49? 7? You're b*tching? Break it down Goldy? Top to bottom. What did you pay for each lead,etc. projected AV,etc?

 

[dgoldenz]

I'm not bitching, just shows what the market is comprised of right now. The retention rate of people who have been laid off is always lower than getting self-employed people. I didn't pay anything for the leads, they're all free from PZ through USPC. Just thought it was interesting.

 

[somarco]

I have made good money over the yrs on folks laid off. Most end up (in the past) getting a new job but no benefits or the deduction is so high they end up keeping what I offered. Some, quite a few actually, opt for 1099 or set up their own biz.

Problem last 8 months or so is that damn COBRA subsidy.

But to your original point, yes, there are a lot of unemployed folks. I can't say when I have had so many drop coverage altogether because they don't have the money to afford even a high deductible plan.

 

[ins.dave]

I'm not bitching, just shows what the market is comprised of right now. The retention rate of people who have been laid off is always lower than getting self-employed people. I didn't pay anything for the leads, they're all free from PZ through USPC. Just thought it was interesting.

All I can say is you must have been hot rock'n some United product to have 49 USPC comps?
Over what time span did you receive dem beauties?
If I'm reading you correctly, you received 49 comps in Jan.?
Come clean Goldy.
- - - - - - - - - - - - - - - - - -

Problem last 8 months or so is that damn COBRA subsidy.

You ain't sh*t'n there.
That put a beat'n on us all.
As intended to help advance health insur - I mean healthcare "reform."

 

[dgoldenz]

USPC gives me $250/month in free leads, plus another $30 per policy placed. Isn't that the standard deal they offer everyone as long as they write 6 apps/year?