- 608
I don't track avg. face because it doesn't translate directly to income.
12% is simplified, all the rest is fully med underwritten. No mortgage products.
The 13 mo. retention is very high
No renewals on term, UL yes.
Writing an App a Day
- Thread starter padthaiforlunch
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I don't track avg. face because it doesn't translate directly to income.
12% is simplified, all the rest is fully med underwritten. No mortgage products.
The 13 mo. retention is very high
No renewals on term, UL yes.
- 14,809
which is why I sell health.
- 608
I have several MSA (now HSA) policies still on the books from 1999. Other than that, health seems to drop off after a year or two. The lore of a renewal didn't really pay out.
- 14,809
really....I hardly lose anyone.
- 14,809
"health seems to drop off after a year or two."
Drop off to where? You're saying that people who have not gone a day without health insurance (nor would) just up and cancel? People don't cancel due to rate increases - I may have to do a supp app or place them with another carrier but they're not just gonna cancel and go without coverage. They'll obviously stay with me.
Sounds to me like you didn't create any type of relationship with your clients and are more focused on quick commissions. My renewals are rock'n.
About 95% of my book of business if people with current plans and I'm saving them at least 30% (I actually save my average client over 40%) - where are those people going?
Drop off to where? You're saying that people who have not gone a day without health insurance (nor would) just up and cancel? People don't cancel due to rate increases - I may have to do a supp app or place them with another carrier but they're not just gonna cancel and go without coverage. They'll obviously stay with me.
Sounds to me like you didn't create any type of relationship with your clients and are more focused on quick commissions. My renewals are rock'n.
About 95% of my book of business if people with current plans and I'm saving them at least 30% (I actually save my average client over 40%) - where are those people going?
- 608
Thats great. Keep up the good job.
- 2,152
It would seem to me that you are doing a great job, and answer the question the original poster ask in the first place! Hope you continue in producing great numbers. I hope you don't allow a few rogue individuals run you off with their back handed attacks and scorn.
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A bit off topic....But since someone mentioned renewals....Back in the 80s and part of the 90s....our office cranked out a lot of IRAs.
Lets say you wrote 6K (not a lot) of new IRA money each week. At 3% commish EVERY year (always new money coming in)...$180 per week after 10 years and you had 90K of renewal income. $135K after 15 years.
This does not include any other side business or trails.
Lets say you wrote 6K (not a lot) of new IRA money each week. At 3% commish EVERY year (always new money coming in)...$180 per week after 10 years and you had 90K of renewal income. $135K after 15 years.
This does not include any other side business or trails.
healthagent
I'm right in there with you. Renewals are great in the health insurance business and if you build relationships and stay in touch and explain rate increases, etc. you'll keep your clients for many years getting first year commissions again about every 2 to 3 years. (I hate it when that happens.)
I've had life agents make say they wouldn't touch health insurance because of the service but if you're good at what you do you'll get the life insurance with your clients as well and the guy that only does life will lose his down the road because he's never build a client base.
I wish I had met you when I first got in the business because you're so right about the agencies throwin' agents against the wall.
I'm right in there with you. Renewals are great in the health insurance business and if you build relationships and stay in touch and explain rate increases, etc. you'll keep your clients for many years getting first year commissions again about every 2 to 3 years. (I hate it when that happens.)
I've had life agents make say they wouldn't touch health insurance because of the service but if you're good at what you do you'll get the life insurance with your clients as well and the guy that only does life will lose his down the road because he's never build a client base.
I wish I had met you when I first got in the business because you're so right about the agencies throwin' agents against the wall.
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