What is a FE Carriers Average Placement and Persistency?

[Glen Shelton]

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...

Well said Ben!

I do remember coming across a few over priced policies in the field that I couldn't replace though because the policy had been in force for several years.

That was the most frustrating situation as an agent to realize they purchased a product that was not the best fit for them but it was several years ago and I could not offer a better premium/DB

Commission payout from the carrier is definitely a factor in persistency

 

[HoosierLife]

Well said Ben!

I do remember coming across a few over priced policies in the field that I couldn't replace though because the policy had been in force for several years.

That was the most frustrating situation as an agent to realize they purchased a product that was not the best fit for them but it was several years ago and I could not offer a better premium/DB

Commission payout from the carrier is definitely a factor in persistency

Reduced paid up for the win.

Using Reduced Paid Up to Increase your Final Expense Sales!

 

[Baseball7]

I'll always say if your within $10/m and you pick a company you KNOW is going to issue your business AND draft the premiums on time thats the most important things. I've never been ethically replaced to my knowledge, lost a few to suspect agents.

 

[Abrasax]

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...

Sounds like Mutual of Omaha. I won't be writing them anymore unless I have to for that reason. Same with Trans, but with them it's because I get stuck talking to McDonalds workers. If it takes a half hour of work to get them on the phone, that means I'm making that much less for the time I've already spent on the case. It adds up.