What is a FE Carriers Average Placement and Persistency?

[shonceman]

Well, if it's anything like the cheapest toilet paper, you can forget it. I want something that I can count on to do the job without falling apart when I have to use it.

I think that's the most perfect analogy I've ever heard! EVERYBODY can relate!

 

[rousemark]

I shoot them almost every time I find them...

But there aren't that many of them being found... Unless the client is a serial DM or TM responder, it is unlikely anybody will call on them. There are that many FE agents that canvass these days and only slightly more that actively work referrals based on what I read on the forums.

 

[Todd King]

The whole thing....or just the hangy down part?

Watch your ears Todd!!!

 

[Life Hawk]

But there aren't that many of them being found... Unless the client is a serial DM or TM responder, it is unlikely anybody will call on them. There are that many FE agents that canvass these days and only slightly more that actively work referrals based on what I read on the forums.

I'm 2 for 0 in the past 3 months... I think I want to find a successful LH agent, stalk him for awhile and rewrite all his business... no need to purchase leads... I'll just use his and save his clients $ while dong it...

I know... I'm heartless...

 

[shonceman]

I'm 2 for 0 in the past 3 months... I think I want to find a successful LH agent, stalk him for awhile and rewrite all his business... no need to purchase leads... I'll just use his and save his clients $ while dong it...

I know... I'm heartless...

Some of their agents have car magnets with the green wheat logo. Keep your sharp glasses on and your eyes peeled!

 

[Life Hawk]

Need to rant so I will do it here...

In the spirit of service, unnamed company at this point... called with more than 10 mints left on the clock to make a simple change in new business... extensioned right to new business... then... auto hang up... tried more than once.... same...

You service me the same way you will service your own policy holders... don't give me crap about one company is the same as another so price is king...

I use them as needed and they will stay that way regardless if they are the lowest in the biz... and no they are not...

There! My rant is done... and on price.... my mind is unchanged...

Now I feel all better... ... sort of...

 

[bboman23]

Great thread!

Couple of thoughts...

Most of us that say LH and SL are so easy to replace are not always talking about the price of them. Since their agents are not independent brokers, they can't shop health conditions. If a company makes you modified for Plavix and an independent agent finds it, it's usually getting replaced.

Another factor is commission level. Would you rather write 100k with KSKJ and have a 90% persistency on a 100% contract OR write 100k with another carrier that you have 80% persistency but 125% commission?

Also, most of the smaller price buster companies cap your commissions so low ($500-$1000 max). If you got 25% higher commission and got a 3x larger deposit, you could afford more leads each week which would equal more sales.

Just a thought...

 

[GMDM100k]

What's crazy though is some of the lower price companies pay as much as the higher ones. Oxford pays 120%. I don't think new agents make that much with Lincoln Heritage.

Speaking of Oxford
Have you seen their commerical on this website????

Final Wishes Covered - Final Expense Insurance

I love it!!! More companies should do it. The more awareness there is for FE the better.

 

[GMDM100k]

Great thread!

Couple of thoughts...

Most of us that say LH and SL are so easy to replace are not always talking about the price of them. Since their agents are not independent brokers, they can't shop health conditions. If a company makes you modified for Plavix and an independent agent finds it, it's usually getting replaced.

Another factor is commission level. Would you rather write 100k with KSKJ and have a 90% persistency on a 100% contract OR write 100k with another carrier that you have 80% persistency but 125% commission?

Also, most of the smaller price buster companies cap your commissions so low ($500-$1000 max). If you got 25% higher commission and got a 3x larger deposit, you could afford more leads each week which would equal more sales.

Just a thought...

I would say most policies falling off has nothing to do with being replaced. Just normal stuff that causes people to not pay bills in general.

When it is a replacement it's usually like you said. Because of underwriting..

Agent incentives of course affect it. Commisions/Andances.

You know though... Those price buster companies have a cap on their advances for a reason... They have a house hold max to protect their mgas and themselves from bad agent debt. If you get a policy flipped from an agent that got advanced 3k instead of $800 it hurts a little more.

Can't wait until a company starts advancing 100% instead of a 9 month. And of course with no max. Wonder what that would do for their persistency.

 

[WinoBlues]

Speaking of Oxford
Have you seen their commerical on this website????

Final Wishes Covered - Final Expense Insurance

I love it!!! More companies should do it. The more awareness there is for FE the better.

Hey, She's kinda hot!