Went to the SL meeting

[HoosierLife]

Are you saying the age band 65-75 (prime age band) has a higher response rate than the age band 50-60 (not so prime age band)? From most people's experience the 65-75 pulls less than the 50-60 age band.
What did I misunderstand in your post?

A lot...

 

[DonP]

So Josh essentially what your saying about those incredible Cpl's of $17-$25 your targeting certain ages and demographics. Maybe targeting people who have a propensity to mail fe cards back. I'm positive Rgi tracks all lead responses and retargets them ever 60-90 knowing they'll mail the cards in thus Rgi can afford to do $28-$30 leads. If they mailed a whole area differently each time there's big risk of not getting good returns .As you said returns are a science utilizing technology to determine who sends the cards back

 

[theinsuranceman]

A lot...

Mailing to $100,000+ annual income households (non-prime) would lower response rates.
Mailing to ages 50-60 (non-prime) would raise your response rates.

You seem be telling me 65-75 year olds respond higher % wise than 50-60 year olds. That just ain't true. Anyone who has experience doing DM drops for FE will tell you that.

 

[HoosierLife]

Mailing to $100,000+ annual income households (non-prime) would lower response rates.
Mailing to ages 50-60 (non-prime) would raise your response rates.

You seem be telling me 65-75 year olds respond higher % wise than 50-60 year olds. That just ain't true. Anyone who has experience doing DM drops for FE will tell you that.

I said nothing of the sort. Re-read my posts.

 

[TripleH]

That's great! But I see the bigger players up here saying a normal level is 110% to 120%. I'm not saying 110% nor 115%. I'm saying 120%. $375 per 1000 dropped or fixed price leads as follows....SL's DM leads are $25 in most states. $25 is cheaper than your $28 wouldn't you agree? No PO boxes either. And you've not even posted how directly worded your leads are. Our leads are generated by the carrier, not by me or any other managers. That way SL agents know their leads are fresh and exclusive. They never have to worry about some manager cherry picking thru the agent's leads before the agent gets them. They also never have to worry about buying old leads that have been worked by other agents beforehand.

No bait and witch with our leads. They say "life insurance" and "funeral expenses" on them. They also say "not affiliated with nor endorsed by the US Government, Federal Medicare Program, nor any State Agency. Returned card requests free info about life insurance underwritten by Senior Life Insurance Company, Thomasville, Ga." These people know why they mailed the card in. Our agents just don't hear "I thought this was something free from the gov't".

Agents can also get 20 FRESH, EXCLUSIVE leads on credit every week as long as they are producing. Do you cosign for your agents so they can get 20 fresh exclusive leads every week on credit? Or do you make them prepay for their leads before they get to work them?

And charge backs deducted from the back end not from your advances. Do you or your upline put charge backs on the back end and not deducted from advances? If the carrier receives app and pic of check before 3pm est do they advance the agent that same night?

No need to go back and forth because everyone up here thinks they are in the best place.....otherwise they'd be somewhere else, right?

And I'm actually enjoying this thread. It helps me with recruiting.

Wish you the best in the FE jungle.

All agents/managers that want to talk about this opportunity should call me for a confidential conversation. This platform is especially attractive for leaders that want to build a team. The leader doesn't put any $$$ up for the DM drop for their agents, Sr Life does this. After all, they've got the deep pockets and your agents never have to worry about being resold old leads or worrying about someone calling thru their leads before they get the leads.

Call me....252-292-3350.

Logically think about your argument, you have very FEW producers with actual levels that I offer to Indy agents. Let's say a majority of your agents are south of 100%, which they are (how do I know, by consistently recruiting agents away from your pool, if you have promo guidelines please post that'd be helpful in the same sense us educating you is helpful - reciprocity)

Let's say you are cheaper my $3 per lead and my average agent is 115% and yours is 90%, which is probably 90% accurate for this scenario, your agents are GIVING UP 25% comp to save $3 per lead?
10k month with you at a 90% is $6,750 in deposits on 20 leads a week by (20*25)*4= 2k lead bill, netting them $4,750. With me there leads have now become free by having a higher contract level. Would you like the math since I've read the rest of the thread and you clearly can't do simply numbers? Surely! 115% contract with 10k a month in production and a 75% advance, same scenario all else remains constant results in $8,625-$2,240=$6,385 net. I think I can rest my case in that in it of itself. But you posted more, so I shall reply further.

Charging agents back and delaying it doesn't benefit anyone, take it out of their advance will prevent debt roll ups for uplines and that has been tested.. logically delaying it is only for people who have poor money management issues and will be out of the business shortly, so you'd want their chargebacks eaten up by advances, how long are you delaying? Many simple ways to fix that problem of poor money man agent, one is working with me and now getting your leads for "free". Most chargebacks don't hit till 30-45 days out anyways...

Yes, we do lead financing as well.. you definitely don't have an edge from any standpoint. Anything you offer, I offer with dramatically more comp. Plus agents don't lose their book when they leave! How long is that contract they sign? (I genuinely don't know, can you post the SL generic contract for us to read, I'll check my Dropbox to see what they have). When does vesting begin as well?

Ahh, to cherry picking leads. I would absolutely say that is subjective the manager above them. I've heard some complaints about leads being run before an agent gets to them and other times I haven't, so perhaps it comes down to their upline and how they operate their business. Glad to hear that you do NOT do that!

I was going to copy and paste your bottom portion of your reply as well, but it wouldn't let me. So here we go, all agents/managers that want to have a confidential business conversation, please reach out to me directly. We do lead financing to ensure that you do not have to come out of pocket for your agents leads till mail comes back in. We do NOT make you sign any contract and you are vested day one while owning your book of business and getting paid directly from the carriers.

704-724-3648

Side note - I'll offer all your agents a 120% across the board and allow them to pay $25 a lead just to recruit away from you so thank you for the insider knowledge.

 

[theinsuranceman]

Logically think about your argument, you have very FEW producers with actual levels that I offer to Indy agents. Let's say a majority of your agents are south of 100%, which they are (how do I know, by consistently recruiting agents away from your pool, if you have promo guidelines please post that'd be helpful in the same sense us educating you is helpful - reciprocity)

Let's say you are cheaper my $3 per lead and my average agent is 115% and yours is 90%, which is probably 90% accurate for this scenario, your agents are GIVING UP 25% comp to save $3 per lead?
10k month with you at a 90% is $6,750 in deposits on 20 leads a week by (20*25)*4= 2k lead bill, netting them $4,750. With me there leads have now become free by having a higher contract level. Would you like the math since I've read the rest of the thread and you clearly can't do simply numbers? Surely! 115% contract with 10k a month in production and a 75% advance, same scenario all else remains constant results in $8,625-$2,240=$6,385 net. I think I can rest my case in that in it of itself. But you posted more, so I shall reply further.

Charging agents back and delaying it doesn't benefit anyone, take it out of their advance will prevent debt roll ups for uplines and that has been tested.. logically delaying it is only for people who have poor money management issues and will be out of the business shortly, so you'd want their chargebacks eaten up by advances, how long are you delaying? Many simple ways to fix that problem of poor money man agent, one is working with me and now getting your leads for "free". Most chargebacks don't hit till 30-45 days out anyways...

Yes, we do lead financing as well.. you definitely don't have an edge from any standpoint. Anything you offer, I offer with dramatically more comp. Plus agents don't lose their book when they leave! How long is that contract they sign? (I genuinely don't know, can you post the SL generic contract for us to read, I'll check my Dropbox to see what they have). When does vesting begin as well?

Ahh, to cherry picking leads. I would absolutely say that is subjective the manager above them. I've heard some complaints about leads being run before an agent gets to them and other times I haven't, so perhaps it comes down to their upline and how they operate their business. Glad to hear that you do NOT do that!

I was going to copy and paste your bottom portion of your reply as well, but it wouldn't let me. So here we go, all agents/managers that want to have a confidential business conversation, please reach out to me directly. We do lead financing to ensure that you do not have to come out of pocket for your agents leads till mail comes back in. We do NOT make you sign any contract and you are vested day one while owning your book of business and getting paid directly from the carriers.

704-724-3648

Side note - I'll offer all your agents a 120% across the board and allow them to pay $25 a lead just to recruit away from you so thank you for the insider knowledge.

 

[theinsuranceman]

LOL.....

1st bold paragraph: I do the exact same thing as you.

2nd bold paragraph: Since you want a pissing match I'll also offer your agents 120% and they still get their leads for $25 and don't have to pay for their leads till they come back in. Or they can pay only $375 per 1000 dropped. The agent picks what they like the best. You don't offer that either do you?

Looks like the only thing you can offer agents is high commissions. I do that and much much more........

Agents can get 75% advance with immediate charge backs just like you. And they can get life time renewals. They also can get group health, group term, group cancer, short term disability, and long term disability. You don't offer this do you?

Sr Life agents can also participate in group dental, vision, and accident. You don't offer this either do you?

I offer 21 straight years of experience in the FE arena. You can't match that either can you?

Agents get immediate vesting just like you.

If an agent would like a more consistent cash flow, without a lot of ups and downs due to immediate charge backs, they can get charge backs put on their back end rather than deducted from their advances. My agents pick whichever method they like. You can't off this either can you? This is probably the biggest hot button of the indys that I recruit.

And as far as cherry picking leads there is ZERO chance that can happen with our platform. The leads come directly from Sr Life the carrier. You can't guarantee your agents that you've not cherry picked thru their leads now can you?

Sr Life can provide live transfers (for field or tele-sales). Also TV leads and face book leads just minutes old. Those a red hot leads wouldn't you agree? And they have a brand new hot off the press lead where Ms. wants a quote for a policy. You can't offer that either can you?

If Sr Life gets the app and pic of check before 3 pm est the agent gets paid that same night! The agent gets paid before the policy is issued and before the draft even goes to the bank! Can you offer that?

No MIB's, no phone interviews, and no Dr. records for face amounts of $20k and less. Only a Rx check. Do you offer this?

Sr. Life uses a simple one page app. No messy multi-page apps. Do you offer that?

Sr Life has a Zero health question GI app for ages 0-85! Not the usual ages 50-80. Can you offer this?

Insulin dependent minors can get immediate coverage at super-preferred rates. Can you offer this?

My policy holders are able to get their casket for only $1500 versus the $3k to $6k over at the local funeral home. That $1500 price is locked in for the rest of the policy holder's life, even if they live 50 or 60 more years! And there is a price negotiation service for the family to use when they contact the funeral home. There is is a $4 monthly membership fee paid to www.legacy-assurance.com for this price discount and negotiation service. Only $4 per month to save $3k to $6k on their casket. And the savings are immediate....starting the 1st day....even if on dialyses with HIV with dementia living in a nursing home! Oh, I almost forgot, our policy holders can also get their vault and monument for about half the price on the local market. And if Ms. Jones's mother is 100 years old and too old for insurance, her mother can also get her casket for just $1500 too. You see, the policy holder can pick up to 4 other family members to enjoy these same savings COMPLETELY FREE! Sometimes people who don't need any more insurance money still get a small Sr Life policy just so they can get this huge savings on their casket for themselves and 4 family members along with the price negotiation.That's why Sr Life agents have a higher closing % than brokers when working leads. Can you offer anything like this for your agents and policy holders?

There's more that I can cover but time for me to get to work. Good luck on recruiting my agents away...lol. You're a rookie and will probably be out of the business within a year anyway...lol.

Wishing you a great day!

I encourage all agents to call me if they're not making the $$$ they should be because of inferior opportunities out there. And this especially includes your 7 agents....lol.

 

[billyb]

I started this thread and was honest about what I was told. A 120% contract was never mentioned, nor a 75% advance and neither was a $25 DM lead. If those 3 things would have been discussed the offer would have been much more attractive. There were 2 guys from SL there, 1 sold over the phone and 1 was F2F. I hope they follow up with their leads faster than with me because so far no one has called.

 

[shonceman]

LOL.....

1st bold paragraph: I do the exact same thing as you.

2nd bold paragraph: Since you want a pissing match I'll also offer your agents 120% and they still get their leads for $25 and don't have to pay for their leads till they come back in. Or they can pay only $375 per 1000 dropped. The agent picks what they like the best. You don't offer that either do you?

Looks like the only thing you can offer agents is high commissions. I do that and much much more........

Agents can get 75% advance with immediate charge backs just like you. And they can get life time renewals. They also can get group health, group term, group cancer, short term disability, and long term disability. You don't offer this do you?

Sr Life agents can also participate in group dental, vision, and accident. You don't offer this either do you?

I offer 21 straight years of experience in the FE arena. You can't match that either can you?

Agents get immediate vesting just like you.

If an agent would like a more consistent cash flow, without a lot of ups and downs due to immediate charge backs, they can get charge backs put on their back end rather than deducted from their advances. My agents pick whichever method they like. You can't off this either can you? This is probably the biggest hot button of the indys that I recruit.

And as far as cherry picking leads there is ZERO chance that can happen with our platform. The leads come directly from Sr Life the carrier. You can't guarantee your agents that you've not cherry picked thru their leads now can you?

Sr Life can provide live transfers (for field or tele-sales). Also TV leads and face book leads just minutes old. Those a red hot leads wouldn't you agree? And they have a brand new hot off the press lead where Ms. wants a quote for a policy. You can't offer that either can you?

If Sr Life gets the app and pic of check before 3 pm est the agent gets paid that same night! The agent gets paid before the policy is issued and before the draft even goes to the bank! Can you offer that?

No MIB's, no phone interviews, and no Dr. records for face amounts of $20k and less. Only a Rx check. Do you offer this?

Sr. Life uses a simple one page app. No messy multi-page apps. Do you offer that?

Sr Life has a Zero health question GI app for ages 0-85! Not the usual ages 50-80. Can you offer this?

Insulin dependent minors can get immediate coverage at super-preferred rates. Can you offer this?

My policy holders are able to get their casket for only $1500 versus the $3k to $6k over at the local funeral home. That $1500 price is locked in for the rest of the policy holder's life, even if they live 50 or 60 more years! And there is a price negotiation service for the family to use when they contact the funeral home. There is is a $4 monthly membership fee paid to www.legacy-assurance.com for this price discount and negotiation service. Only $4 per month to save $3k to $6k on their casket. And the savings are immediate....starting the 1st day....even if on dialyses with HIV with dementia living in a nursing home! Oh, I almost forgot, our policy holders can also get their vault and monument for about half the price on the local market. And if Ms. Jones's mother is 100 years old and too old for insurance, her mother can also get her casket for just $1500 too. You see, the policy holder can pick up to 4 other family members to enjoy these same savings COMPLETELY FREE! Sometimes people who don't need any more insurance money still get a small Sr Life policy just so they can get this huge savings on their casket for themselves and 4 family members along with the price negotiation.That's why Sr Life agents have a higher closing % than brokers when working leads. Can you offer anything like this for your agents and policy holders?

There's more that I can cover but time for me to get to work. Good luck on recruiting my agents away...lol. You're a rookie and will probably be out of the business within a year anyway...lol.

Wishing you a great day!

I encourage all agents to call me if they're not making the $$$ they should be because of inferior opportunities out there. And this especially includes your 7 agents....lol.

Greg, couple of questions:
1) What do you mean by chargebacks coming at the back end?
2) What are the chargeback rules on first year lapses? What I'm getting at is at one extreme, companies charge back 100% of commissions if the policy lapses at any time in the first year. At the other extreme, companies charge back only the unearned portion of any advances. Where does SL fall between the two?

edit: Never mind on the second question. I found a commission schedule you sent me a little over a year ago, where it says 100% chargeback period is for 6 months.

But I'm still wondering what it means to have chargebacks at the back end. I know some companies hold back a small portion of the advance commissions (maybe 10%) and keep them in the agent's account to offset chargebacks. Is that what you mean?

 

[goillini52]

Greg, couple of questions:
1) What do you mean by chargebacks coming at the back end?

Self explanatory.