tribetime32
Guru
- 377
Got a letter in the mail this past week saying I was going to lose my my AIG contract due to lack of production. My last app submitted to them was in 2018. I’m honestly beaming with pride reading this letter. I put my money where my mouth was and got rid of needing these guys. I got so sick of them not drafting correctly.... basically ever. I learned that even if they had a cheaper price, it didn’t matter because they weren’t going to draft correctly.
Here’s how I did it...
1. Writing graded and modified companies with true social security billing. What this means is that no matter when my client gets paid, they couldn’t beat me to the bank! If Mary gets paid on the 1st but that date falls on a Sunday, she gets her paycheck Friday at midnight. Most companies aren’t getting their money until 4 days later and causing overdraft issues. True social security billing companies are getting their money Friday shortly after midnight just barely after the client gets paid. Win!
2. I started utilizing things like Prosperity Prime Term to 100. This functions a lot like our GI products, takes direct express and is very competitive. Oh, and they have true social security billing
3. I simply chose to walk away from situations where the only option was AIG. Lower comp, don’t draft correctly and therefore they aren’t keeping the clients on the books which is why the client purchased that policy in the first place - to protect their family from financial burden.
4. I found a pre-need product that takes everything other than terminal illnesses. This product is only set up to pay for the funeral, but it pays much better commission than GI and I haven’t had any drafting issues. So oxygen, CHF, cancer etc., can be covered. The only negatives to this is that it is a preneed and so no life insurance other than paying for the funeral, and it’s only in a handful of states. Comp over 100% though. I have found that many GI clients are most concerned about the funeral and are content to set that up to at least alleviate the burden that can put on their family.
If your GI percentage is more than 3-5% then you may not have the right products in your bag, or have the knowledge to use them to their full potential. Many guys on here can help you if you’re ready to step outside the box a little and put your clients in a great situation while making great money doing it!
Hope y’all have a great Christmas and New Year! Hopefully something in here can add some value to what you’re doing!
Here’s how I did it...
1. Writing graded and modified companies with true social security billing. What this means is that no matter when my client gets paid, they couldn’t beat me to the bank! If Mary gets paid on the 1st but that date falls on a Sunday, she gets her paycheck Friday at midnight. Most companies aren’t getting their money until 4 days later and causing overdraft issues. True social security billing companies are getting their money Friday shortly after midnight just barely after the client gets paid. Win!
2. I started utilizing things like Prosperity Prime Term to 100. This functions a lot like our GI products, takes direct express and is very competitive. Oh, and they have true social security billing
3. I simply chose to walk away from situations where the only option was AIG. Lower comp, don’t draft correctly and therefore they aren’t keeping the clients on the books which is why the client purchased that policy in the first place - to protect their family from financial burden.
4. I found a pre-need product that takes everything other than terminal illnesses. This product is only set up to pay for the funeral, but it pays much better commission than GI and I haven’t had any drafting issues. So oxygen, CHF, cancer etc., can be covered. The only negatives to this is that it is a preneed and so no life insurance other than paying for the funeral, and it’s only in a handful of states. Comp over 100% though. I have found that many GI clients are most concerned about the funeral and are content to set that up to at least alleviate the burden that can put on their family.
If your GI percentage is more than 3-5% then you may not have the right products in your bag, or have the knowledge to use them to their full potential. Many guys on here can help you if you’re ready to step outside the box a little and put your clients in a great situation while making great money doing it!
Hope y’all have a great Christmas and New Year! Hopefully something in here can add some value to what you’re doing!
