Who Is the best people to contract with

[vic120]

How are you doing it, letters , post cards, billboards?

postcards and letters

 

[DonP]

Not my experience at all. And I'm not talking about the Ky law one. My whole time with EFES and over $1 mil production while them was almost all in Indiana.

Well over 90% of my true contestable claims have been paid. I do agree the industry average is well under that. One company executive told me a few years ago that the industry average is 40% paid. Now, he's talking the AARP, Globe, CP, etc too in that industry.

I never concern myself with contestability. They either qualify or they don't. If they don't qualify I move on. I've written in the neighborhood of 7000 life application. Not all issued, of course, and have had many death claims over 20+ years. Never once have had a family come after me over a non paid claim.

I'm not going to work scared. I also agree that companies should do a better job of underwriting on the front end. But they want the business too.

Thats the thing Jd . No lawyer is going to take any case to make 30% of a paltry $10-$20k . Thats why e@o prices are the same as 15 yrs ago. Very few lawsuits in life ins . I'm talking moving somebody in questionable health for $5 a month savings . Thats crazy . I've got many friends in the business . And we sure haven't seen 90% of contestable claims of fe CO's we wrote paid. I'd say 60% of contestable have paid .I've already had a claim with cica and they didn't pay it as i figured they wouldn't .

Actually I am hoping to get my inbound local mailers to work better and stop buying medicare leads with low contact rates

and spend a lot of my call time doing and building an FE buis for now

while I figure out the Facebook stuff next year and add some ACA and Medicare that way a little at a time

I am looking to do FE as earned and build a residual above 10 K or more,
Looking at the program at Digital I would not mind investing 70% of my day to those leads outside of AEP

 

[DonP]

Actually I am hoping to get my inbound local mailers to work better and stop buying medicare leads with low contact rates

and spend a lot of my call time doing and building an FE buis for now

while I figure out the Facebook stuff next year and add some ACA and Medicare that way a little at a time

I am looking to do FE as earned and build a residual above 10 K or more,
Looking at the program at Digital I would not mind investing 70% of my day to those leads outside of AEP

You now how many policy's you'll have to write to get to $10k a month as earned ? You'll have to write around 200 your first yr at 80-85% persistency at $60 a month avg premiums . You'll basically have to write near that year in year out . Thats not a part time gig .

 

[hockeyday]

postcards and letters

How many do you drop each month? How many calls do you get each month?

 

[Newby]

That's the point, I would not replace a policy with little cash value to save $5

But if the health is decent and the person can get 1K in cash back and not cost them much more might make sense

But if the same person is in poor health then NO I would not do that

What I was hoping to learn was how to know these things

But I am now understanding it is tough to know there is no hard fast rules and I might pick up on it in some time but in the beginning I will not mess with it

Sounds like you got it grasshopper! Takes some people many lessons to understand that.

 

[jdeasy]

That's the point, I would not replace a policy with little cash value to save $5

But if the health is decent and the person can get 1K in cash back and not cost them much more might make sense

But if the same person is in poor health then NO I would not do that

What I was hoping to learn was how to know these things

But I am now understanding it is tough to know there is no hard fast rules and I might pick up on it in some time but in the beginning I will not mess with it

There is a hard and fast rule. Do what's right for the customer. I tell every person I talk to do what's best for them. Not what's best for me, the other agent or the companies. "Do what's best for you, that's what everyone else is doing".

Sometimes paying more is best for them. It's their decision. I have a family begging me to move them from KSKJ over service issues now. They are paying $202/mo now. Best I can do for them now is $250/mo. They are "'let's do it". I haven't yet. Their file has been sitting on my desk for a month. I don't want to do it and I'm letting cool off a little. I'm clear if I did replace them. I've got two recordings from her saying she wants rid of KSKJ. She has them a few times direct and they have it recorded.

I replaced some Trans a few years ago because the people told me they didn't care what they had to pay to get away from Trans. They felt their agent had screwed them. And it appears he did.

I don't proceed in any home without finding their WHY? If I don't get a WHY I'm out of a house in less than 5 minutes.

 

[vic120]

How many do you drop each month? How many calls do you get each month?

too many mailed ad not enough calls

But a trew a lot at the wall trying to see what sticks and drop the rest

Most of my Over 65 stuff failed, I have T65 several different things, the T65 Nov I am hoping to get a little bit more but so far not nearly enough

That one is just letters

I have a mix letters ad cards for Dec Jan and Feb got a little action for the Dec already,

Also It was suggested I bring back the area by a lot, I am waiting to see if all the calls are in close area if that is the case can probably make it work by reducing cost and accepting there is only so much I can do with this

aren't you already doing great doing the same thing I spoke with you when I was starting this

 

[jdeasy]

Thats the thing Jd . No lawyer is going to take any case to make 30% of a paltry $10-$20k . Thats why e@o prices are the same as 15 yrs ago. Very few lawsuits in life ins . I'm talking moving somebody in questionable health for $5 a month savings . Thats crazy . I've got many friends in the business . And we sure haven't seen 90% of contestable claims of fe CO's we wrote paid. I'd say 60% of contestable have paid .I've already had a claim with cica and they didn't pay it as i figured they wouldn't .

I'm not talking about lawyers. I've never had a family even raise a complaint to me.

Most of my friends in this business will also say that over 90% of their contestable claims have been paid.

I know the sky is always falling in your world and you see the worst of everything. Are your friends the same? Maybe you just need new friends?

Even FE business acquaintances that I know weel but I wouldn't call friends say their contestable claims are almost all paid. These are professional FE agents writing over $200K year in and year out.

I know you have a lot of names you post under. Maybe you should start using Linus too?

 

[vic120]

There is a hard and fast rule. Do what's right for the customer. I tell every person I talk to do what's best for them. Not what's best for me, the other agent or the companies. "Do what's best for you, that's what everyone else is doing".

Sometimes paying more is best for them. It's their decision. I have a family begging me to move them from KSKJ over service issues now. They are paying $202/mo now. Best I can do for them now is $250/mo. They are "'let's do it". I haven't yet. Their file has been sitting on my desk for a month. I don't want to do it and I'm letting cool off a little. I'm clear if I did replace them. I've got two recordings from her saying she wants rid of KSKJ. She has them a few times direct and they have it recorded.

I replaced some Trans a few years ago because the people told me they didn't care what they had to pay to get away from Trans. They felt their agent had screwed them. And it appears he did.

I don't proceed in any home without finding their WHY? If I don't get a WHY I'm out of a house in less than 5 minutes.

See This is why I am here asking question instead of running out and just doing whatever gets a sale, which I could have done if I did not care about the ramifications

lots of good information from both you and Don

 

[DonP]

I'm not talking about lawyers. I've never had a family even raise a complaint to me.

Most of my friends in this business will also say that over 90% of their contestable claims have been paid.

I know the sky is always falling in your world and you see the worst of everything. Are your friends the same? Maybe you just need new friends?

Even FE business acquaintances that I know weel but I wouldn't call friends say their contestable claims are almost all paid. These are professional FE agents writing over $200K year in and year out.

I know you have a lot of names you post under. Maybe you should start using Linus too?

Jd it's funny you mention your "professional agents doing $200k . Those are the agents telling me at least 40% of contestable claims don't pay . . You and your professional agents brought kskj to its knees ( according to my friend not with FEX theycno longer issue crap". You and your professional " agents will turn cica on its head . Polish falcons has already raised rates .