Which Carriers Are A Pain To Deal With?

[theinsuranceman]

Like every single one of your posts.

Some people give to the forum. Some people like you only take.

I'm giving agents a good opportunity. I've also shared lots of closing advice over the last 8 years or so. The only thing I take is good info when I read it.

Hope that clarifies it for you.

 

[DonP]

Greg please post a full SL 120% contract with all the pages so we can see all the renewals and vesting terminology . I assure you there's language in there to screw the agent . It's only fair you post a contract since your recruiting . There's agents on here that went with Ramiz and were promised all tv leads and ended up getting bs old tv or tm leads they recycled . Now please post the contract and 120% commission grid. You believe in your product and I'm sure you do well . But I'll assure you when I run into SL or LH I replace 95% of the policy's . Forget that I can give them 30% more coverage 98% of the time .I simply open the policy ( the legal insurance contract) and ask them to show me the legacy in the policy . There speechless and I drop the legacy paper on the floor and say these are nothing but promises and words and worthless .

 

[Rearden]

ABR.

Always Be Recruiting

 

[theinsuranceman]

Greg please post a full SL 120% contract with all the pages so we can see all the renewals and vesting terminology . I assure you there's language in there to screw the agent . It's only fair you post a contract since your recruiting . There's agents on here that went with Ramiz and were promised all tv leads and ended up getting bs old tv or tm leads they recycled . Now please post the contract and 120% commission grid

I'd have to get a copy from licensing. Why would you want to see one? You obviously have zero interest in writing any business with us. The vesting is immediate. And, unless I'm mistaken, you wouldn't qualify for a 120%. It's safe to say we're not contract whores, even though the industry is littered with them. We offer a whole lot more than just a contract like the other carriers do....group health, etc., lead financing, TV leads just minutes old, telesales with 15 years of experience.....you've seen some of the additional benefits for agents in my other posts in other threads.

Why would you think there's language to screw an agent? You say "you can assure that" up above....yet you haven't read the contract because you're asking to see it. What you're saying makes no sense.

As far as TV leads I've put samples of those too up here in other posts/threads. The leads come directly from Sr Life's lead dept. so agents know their leads are fresh and exclusive. Neither I nor any other mgr. handles leads.

Here's a sample of one to refresh your memory...

Dropbox - TV Commercial.mp4 - Simplify your life

Agents love these TV leads! The closing % is higher than DM. And when agents contract with us they'll have their agent # in 1-2 days and be appointed in 2-3 days. Then they can start writing business immediately because they don't have to tie up $2000 for DM drops that don't even come back in till 4 weeks later.

Most agents can't go 4 weeks working old recycled leads waiting for their fresh leads to come in. When they join us they can be working fresh exclusive TV leads as soon as they are appointed, which is 2-3 days. Much easier to have a solid FE career with us.

 

[rousemark]

And if you do add Legacy your 13 month persistency is about 9% higher! Lifetime renewals too. Higher 13 month persistency is more $$$ for agents and for the carrier.

Legacy now includes telemedicine, free annual hearing exam, 15% discounts on diabetic shoes and socks, and more coming down the pike!

I may have one out of every 50 prospects say they don't want Legacy. The other 49 out of 50? Well, instead of me telling Ms. Jones why she should do this, she's telling me she wants to do this. Makes an agent's job that much easier.

And on average an agent should get about 2-3 extra sales per 20 leads contacted. Some people get a Sr Life policy not because they need insurance money, they get it only because they like the fact that they, and up to 4 family members included for free, will save $4000-$5000 on funeral expenses plus the new things being added through out the year. In other words agents don't have to have too many sales skills to be successful when Legacy is bundled with their policy.

Ms. Jones, and her family, save a whole lot more $$$ than what her membership costs.

Explain this to me:

If you write Mrs. Smith and include the Legacy, both she and her husband(and a couple more) qualify for the benefits.... Is that correct?

If it is, then why should you have to include Legacy when you write Mr. Smith in order to get full commission? He already has the program so why charge him for something he does not need?

 

[theinsuranceman]

Explain this to me:

If you write Mrs. Smith and include the Legacy, both she and her husband(and a couple more) qualify for the benefits.... Is that correct?

If it is, then why should you have to include Legacy when you write Mr. Smith in order to get full commission? He already has the program so why charge him for something he does not need?

Good question and glad to answer it.
In your ex above Mr. Smith does not have to have a legacy membership and the agent will be getting full commission on Mr. Smith. AND Mr. Smith, if he wants, can get himself a membership into Legacy if he has 4 additional family members that he'd like to save $4k-$5k on their funerals.

AND, we all know how usually the husband acts like a tough guy saying "we're not going to do anything today", "we're just looking around" etc. Well, with Legacy, the husband is much more agreeable with taking out policies NOW. He sees they're getting much, much more than a life insurance policy. They also have benefits they can use while they are living. And the family gets the benefits when death happens.

Even if they can only afford one policy they can get the policy on either the husband or wife and the spouse's FREE membership into Legacy is going to lower the spouse's price of their casket, vault, and monument from $7000-$8000 at the local funeral home to just $2750! It's like the spouse is getting about $4000-$5000 of insurance free! And they also get the new additional benefits mentioned (free annual hearing test, 15% discount on diabetic supplies, tele medicine, etc.).

And the savings are also immediate for the GI life insurance people. There's also no age limitations, so if Ms. Jones's mother is 110, the mother can be one of the 4 family members with a free membership into Legacy. Now her mother who is 110 just lowered her funeral expenses by $4k-$5k. It's like her 110 year old mom got a $4000 life insurance policy with immediate coverage completely free! Hopefully this illustrates how our agents will make sales that agents with other carriers will miss.

 

[rousemark]

I'd have to get a copy from licensing. Why would you want to see one? You obviously have zero interest in writing any business with us. The vesting is immediate. And, unless I'm mistaken, you wouldn't qualify for a 120%. It's safe to say we're not contract whores, even though the industry is littered with them. We offer a whole lot more than just a contract like the other carriers do....group health, etc., lead financing, TV leads just minutes old, telesales with 15 years of experience.....you've seen some of the additional benefits for agents in my other posts in other threads.

Why would you think there's language to screw an agent? You say "you can assure that" up above....yet you haven't read the contract because you're asking to see it. What you're saying makes no sense.

As far as TV leads I've put samples of those too up here in other posts/threads. The leads come directly from Sr Life's lead dept. so agents know their leads are fresh and exclusive. Neither I nor any other mgr. handles leads.

Here's a sample of one to refresh your memory...

Dropbox - TV Commercial.mp4 - Simplify your life

Agents love these TV leads! The closing % is higher than DM. And when agents contract with us they'll have their agent # in 1-2 days and be appointed in 2-3 days. Then they can start writing business immediately because they don't have to tie up $2000 for DM drops that don't even come back in till 4 weeks later.

Most agents can't go 4 weeks working old recycled leads waiting for their fresh leads to come in. When they join us they can be working fresh exclusive TV leads as soon as they are appointed, which is 2-3 days. Much easier to have a solid FE career with us.

I don't know that this would constitute "screwing an agent" but just on the commission schedule I see two "gotchas" that most companies do not have..

1) 100% chargeback for any policy that does not pay the 7th month on all products. Most companies only do that on their GI products if at all.

2) 13th month persistency rate for all policies issued in a month must be equal to or over 72.5% for any respective renewal commission to be paid.
That is worded rather strangely.. but no matter exactly how it is applied I know of no other company that withholds renewals from an active agent on a basis such as this.

These two items are just on the commission schedule.. Makes a person wonder how many are actually in the body of the contract.

No doubt, SL has some good things going for it but it is not all milk and honey....

 

[rousemark]

Good question and glad to answer it.
In your ex above Mr. Smith does not have to have a legacy membership and the agent will be getting full commission on Mr. Smith.

AND, we all know how usually the husband acts like a tough guy saying "we're not going to do anything today", "we're just looking around" etc. Well, with Legacy, the husband is much more agreeable with taking out policies NOW. He sees they're getting much, much more than a life insurance policy. They also have benefits they can use while they are living. And the family gets the benefits when death happens.

Even if they can only afford one policy they can get the policy on either the husband or wife and the spouse's FREE membership into Legacy is going to lower the spouse's price of their casket, vault, and monument from $7000-$8000 at the local funeral home to just $2750! It's like the spouse is getting about $4000-$5000 of insurance free! And they also get the new additional benefits mentioned (free annual hearing test, 15% discount on diabetic supplies, tele medicine, etc.).

So, you don't have to charge the Legacy on each policy in the family and you still get full commission on each policy? That is good..

 

[shonceman]

That's because I truly believe this is the BEST FE opportunity in America. Now, the recruiters up here like Todd will try to discredit everything that we offer agents that he can't offer agents. In fact, picking on Todd a little here since he likes to pick with me, he offer nothing to his agents except contracts and verbal coaching.

If I'm wrong I apologize right here and now. So what does Todd offer his agents besides a contract and words of wisdom? Inquiring minds want to know.

I wish you wouldn't call out @Todd King like that. It used to be kind of fun watching the verbal sparring. Then it got boring. Now it's annoying.

I've got a couple contracts with Todd. I can't speak for other agents, but I like working with an IMO who knows how to leave me alone until I need something. When I need something, then he/she needs to be extremely quick to respond. I also need him/her to be completely knowledgeable about every single product he represents, as well as other popular products. Todd is all those things and even though I don't put a ton of business under his agency, I appreciate working with him.

 

[theinsuranceman]

I don't know that this would constitute "screwing an agent" but just on the commission schedule I see two "gotchas" that most companies do not have..

1) 100% chargeback for any policy that does not pay the 7th month on all products. Most companies only do that on their GI products if at all.

2) 13th month persistency rate for all policies issued in a month must be equal to or over 72.5% for any respective renewal commission to be paid.
That is worded rather strangely.. but no matter exactly how it is applied I know of no other company that withholds renewals from an active agent on a basis such as this.

These two items are just on the commission schedule.. Makes a person wonder how many are actually in the body of the contract.

No doubt, SL has some good things going for it but it is not all milk and honey....

The info you just posted is outdated. There is strong emphasis on conserving business. After all, FE carriers don't usually get into the profit side till after around the 3rd year or so.

You're correct, it's not all milk and honey. Nothing is, especially in sales.