- 4,843
Yes, one day (down the road away) bigger than LH. There have been several LH groups and agents joining SL so I guess that would speed the process up....lol.
I don't know the name of the company that was bought.
Went to the SL meeting
- Thread starter billyb
- Start date
Yes, one day (down the road away) bigger than LH. There have been several LH groups and agents joining SL so I guess that would speed the process up....lol.
I don't know the name of the company that was bought.
- 4,120
I'm sure SL does a lot well but competitive underwriting or price sure isn't it.
- 4,843
Could you cite some examples?
- 4,843
Thanks.
- 4,120
I'm saying your guys level benefit products don't take any unique medical conditions, etc. It's a great captive set up but doesn't have a place with independent distribution.
- 4,843
You may be right. Here's one for ya:
F, 70, NT, started taking insulin at age 5 and still takes it, one HBP, one cholesterol, one depression, one for thyroid, ht/wt ok, no tobacco last 10 years....
$10k with 20k acc. death......
= $47.71 (ultimate preferred but takes a haircut on commissions)
=$51.72 (super-preferred and pays full commissions...we'd pick this one)
OR:
20 year old male, full blown aids (Our GI, zero health questions, covers all health conditions from ages 0-85)!
OR:
Ms. Jones has a son incarcerated for life. Ms. Jones (momma) can sign the app as the owner and payor of her son's policy, and her son's signature line has "n/a", with the whole process being handled without ever seeing, talking with, or getting the signature of the incarcerated son. And her son could be incarcerated in another state where I'm not even licensed in!
OR:
a grand child, aged 5, takes insulin 5 times a day, no other health concerns, gets super-preferred rates.
These situations don't occur every week, but wouldn't these examples be a great situation for an independent broker to have Sr Life in their portfolio? Never have to walk away from a sale. Plus there's life-time renewals as long as it's on the books (no 10 year cap).
Anyone is welcome to call me with questions or contracting. Agents usually get their agent # in 24 hours and appointed to the Dept of Ins within 48 hours which means they can start writing business! Also DM drops are only $375 per 1000!
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- 7,012
Other than incarcerated son, I have literally never run into one of those scenarios in the field. Never. Not once.
No life time renewals or top commissions if you only sell the life insurance..
- 4,843
Are you saying you've never had a prospect that has all conditions as described above? I don't believe I have either.I tried to put a lot of health conditions in the example to show it's not too tough to qualify for super-preferred.
Ever had a prospect who takes insulin and one HBP and one cholesterol and one depression and one thyroid or some combination of these? They would also qualify for super-preferred. Surely you've seen an insulin user also taking a HBP med. Lots of them in the southeast.
Maybe Indiana prospects are different, healthier? Even so, wouldn't you rather write that GI on the incarcerated son rather than walking away from it? That alone is reason enough to put SL in your bag.
If you, or anyone else, comes across this situation let me know. I'll do a tele-sale with the momma and send you a referral fee or gift certificate to to one of your favorite restaurants.
Greg's on drugs i think. Those are all bs fantasy examples. 95% of situations he's using either gets their worst level rates or graded. I've talked to SL agents . I know an independent agent who does that. You quote the best rate . Mrs Wheeler $10k's $65 a month. Do the eapp it comes back graded at $6k for $10k. You accept it and there's no amendments . Congrats Mrs Wheeler you got approved . Policy arrives in 2 weeks and most clients never open the policy . If they do they never look closely.This business is full of liars and cons . We deal with uneducated clients who can easily be manipulated . The next smooth talker comes along and what you said is forgot .
