FE prospect question

[Life Hawk]

I would like to rename the title to this thread, "FE prospect question and FE agent dreams"

Now I wonder which could be more interesting, entering the prospects abode or peeking into an agents brain?

 

[goillini52]

Now I wonder which could be more interesting, entering the prospects commode or peeking into an agents brain?

I'd rather look into an agent's brain.

 

[Life Hawk]

I'd rather look into an agent's brain.

Hmm... greens... are doing more business in the the South?

 

[pfg1]

So what are commission rules on products like these? Meaning if the client dies early, do they come take my commission back? Or does if vary as to whether its GI or ROP, etc?

So on ROP... if its 2yr or 3yr, that means if they die in the 2yr or 3yr window, the company pays back the premiums plus some additional typically? They have to make it past those timeframes to get the actual DB?

What is the difference in GI & Modified?

Sorry, again way out of my box. Just trying to see if there is anything reasonably worth paying for - for this prospect.

For $10K...Sons of Norway GI is $131.85 a month...Cigna Modified(ROP) is $191.05 a month. I don't think you can get Graded.

That is a pretty big difference in premium. Is it just the appetite of the carriers?
Earlier was suggested AIG & AM AM ... and they are pushing 2x what you said Sons of Norway will charge. Am I missing something?


Thanks for all the info guys

 

[Life Hawk]

So what are commission rules on products like these?

Lower (80% is high)

Meaning if the client dies early, do they come take my commission back?

In a certain time frame: YES!

So on ROP... if its 2yr or 3yr, that means if they die in the 2yr or 3yr window, the company pays back the premiums plus some additional typically?

CORRECT!

They have to make it past those timeframes to get the actual DB?

Yep!

What is the difference in GI & Modified?

Simplified answer: Modified still requires a small amount of underwriting to be approved. The face may also grow from year to year until the full DB is reached or it may still take 2 years to make it to full DB.

GI, you could be bleeding out next to your grave and if you can sign they will issue.

Short answer...

 

[DayTimer]

Did you write any term or GUL?

none

 

[billyb]

$100,000 in monthly premium? Wow what a month.

Several months ago I had an applicant who applied for GI with SofN and died before I delivered the policy. So far no chargeback. I have had a few SIWL policies lapse and they changed me immediately.

 

[DayTimer]

$100,000 in monthly premium? Wow what a month.

$100,000+ in annual premium in one month. I I sell a $100,000 monthly premium case you won't see for for two or three years.

to be fair, one of those cases was 70% of my production lol

 

[WinoBlues]

none

That surprises me. The year I did the Lee FB leads I cross sold a fair amount of GUL and Term to family members.

Non the less sounds like you are killing it with Facebook.

 

[goillini52]

$100,000 in monthly premium? Wow what a month.

Several months ago I had an applicant who applied for GI with SofN and died before I delivered the policy. So far no chargeback. I have had a few SIWL policies lapse and they changed me immediately.

I was told that the only time they charge back is for the unearned advance.