Why sell permanent Insurance?

[Crabcake Johnny]

There is a pay barrier most of us hit that seperates us from the Donald Trump's of the world. It's not in my genetic make-up to strive to make $100,000 a week.

Many people will flat out stop working once they hit "X" amount in income. The question is if I'm making $4,000 a week working 40 hours and spending time with my family - being off weekends, would I work 60 hours for $6,000 a week?

Men like Trump, Gates, etc....work is their entire life. They are never "off" the job - they're at social events at night, charity events on the weekends - basically they work 120 hours a week. The rewards for that are significant wiht a lifestyle that is unmatched.

However, you have to want that. I don't. So for me going into an office all day, even if it boosted my income by $100,000 a year just isn't worth is. I can do a hell of a lot with $200,000 a year especially since I don't play America's retarded game. We have paid off car 6 years old. Hopefully it lasts another 10 years.

 

[James]

Totally agree! Good Post John.

 

[Crabcake Johnny]

I like the saying "never let 'em see you coming."

One of the men I admire the most was the owner of a sales company I worked for. This was your "jeans and a shirt" guy, drove a Toyota and you could sit down and talk to him for hours and have no idea he was a true millioniare. He had a nice house but nothing gaudy and basically socked away all his money.

I'm sure he gets a pretty good laugh when he talks to these pikers driving out in Benz's living check to check.

Nothing is nicer than financial security and it took my wife and I a very ver long time to figure out that our happiest times didn't involve buying anything. We ran through money in the first 5 years of our marriage like crap through goose and got left holding the bag after I tanked on a sale job. We went from hero to zero in 4 months. Very scary.

 

[Guest]

John,

You stated you like the following saying

I like the saying "never let 'em see you coming."

Not that I know anything about Shakespeare, but I read that one of his lines was:

Show less than you have, speak less than you know.

I always liked that one.

 

[NHB_MMA]

This thread has switched to having John and James agree on some things. All things are possible.

 

[Steve]

Another quote along the same lines:

One of the lessons of history is that nothing is often a good thing to do and always a clever thing to say.
Will Durant (1885 - 1981)

 

[Guest]

This is definitely a keeper:

One of the lessons of history is that nothing is often a good thing to do and always a clever thing to say.

It will join my, so far, No. 1 self motivating saying: It is easier to succeed than explain why you failed.

 

[Essenture]

"Life's a box of chocolates" that's what I live by. lol

 

[Norwayguy]

I think a lot of the point is that it's life insurance companies dreaming up these insane products, over-charging clients for them, mainly in the way of fees and paying agents huge commissions.

Some agents want to tout an annuity that pays the agent a 10% commission, obviously more in that to the MGA - probably 15% then a 10% bonus to the client?

So out of $100,000 there's $15,000 in commissions for the life company to spare and another $10,000 to "bonus" the client? Where in the living hell is all that money coming from? IT'S COMING FROM YOUR CLIENT!!!! Some of these products are simply profit factories for the insurance company and agents have huge fish hooks in their mouths.

quote]

I can't let this statement pass. of that $100,000 that the client invested there would be $110,000 in the account. The commission comes from the insurance company, yes in a fixed annuity the insurance company makes more than they pay to the policy holder but isn't that the same as a bank paying .30% on a savings account when they are making 9% on a car loan. An annuity in not for everyone and yes agents, MGAs and insurance companies make money on them, thats there part of the win-win, for the client its probate protection, no downside market risk and an interest rate.

 

[Norwayguy]

I think it speaks volumes that health insurance pays agents about 20% on average of the 1st year premiums with about 30% build into the deal whereas life insurance companies somehow seem to have about 140% in the deal. Just show the insane profit they made at the client's expense.

Healthagent, Who cares if a term policy pays 140% and Health insurance pays 20%, they BOTH pay there claims which is what the client wants