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Is it a true GI?...............
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I think Vantis is better priced than gerber though.
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Vantis Life Contract Offer...
- Thread starter lifeagent007
- Start date
Is it a true GI?...............
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I think Vantis is better priced than gerber though.
- 7,012
Yeah it's true GI and yeah vantis is cheaper at older ages, but for $2-$10/mo and 20%+ more commission, it makes sense.
- 19,673
I was with a client today that needed GI. I referred him to MoO. $10,000 face for $45/mo.
But before I left the house I did text Newby to see if he could compete with MoO with Gerber or Vantis and I was going to refer the guy to Newby if he could.
He texted back saying the Vantis quoter was down and Gerber was $54/mo. I told the guy to call MoO. $9/mo more is not competive in my opinion.
- Thread starter
- #15
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Im not really superstitious or anything but your writing " one foot im the grave " clients then getting paid "666" commish... Hmm...
Maybe... maybe not. Frankly, it depends if you write the ones who live... or the ones who die that create a chargeback for you. I personally pass on a lot of it myself but have no contingent liability over whether that insured lives or dies. [sorry for the matter of fact calculation, but it is just that].
Not that the income stream is likely to be all that long with this type of business but some of them will pay for many years to come... and you get a goose egg for renewals with Vantis. I've got a problem with that so I'd rather leave the liability and paultry FYC income behind, while placing some of the others with Gleanor, et al, who can qualify, and you avoid the chg back for the most part, get a higher FYC and renewals. Those that can't qualify will respond to the miriad of MoO mailers they receive and finn for themselves, IMO.
I haven't kept a spreadsheet on these cases [except in my head] but I'd say that I earn more comm and have less liability. I wonder if I'm right here but my perceptiion is all that is important, so I'd say that I am...
Sell it and put the commission in a money market account and pull it out after one year.
- 17,078
Exactly. Sell it and bank it. Take your chances and some will stick. Why walk away?
Agents act like they have no financial will power at all.
- 15,041
If you are constantly writing business, the chargebacks will take care of themselves.
The problem comes when your business is of poor quality or you aren't writing with that carrier so you have to cut them a check.
- 3,165
I used to think like that, but with their (As with most GIs) chargeback policy, Im taking all the risk...and Im no longer willing to accept all the risk.
I got contracted with SNL & now Im getting contracted with GPM, between them, I can get most GIs placed on their ROP or Graded. Yes they are a lil more (for certain ages, its actually cheaper or only a few dollars), and for them time I spend with them, educating them, following up, advising etc, I feel Im worth it. But with them, I have no chargebacks, and Im paid 90-115%.
I only use Vantis now if they smoke, cant fit in the wt/ht guidelines or are above 70(M) or 75(F)....which has reduced how often I use them to about once every 2mos. I was using them on avg 2/mo before.
Just my 3cents....Im sure some will agree & some wont!
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Who is SNL (besides Saturday Night Live) and GPM?
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