For the state of n Carolina, who usually has the best rates for term? Started filling out an app with a gal for her husband and was undercut by another agent, literally on the phone! For a male 58 5'9 200, smoker the best rate I found was trans for a 15 yr term and it came in at 110.69 around there. I was actually filling out the app when the agent showed up. She had made an appt with him and asked me to call her back, when I did which was about 30 min later, wanted to know what the premium was again and then when I told her she said ok, thanks bye! What carrier can beat trans? Thanks!
Question
- Thread starter dobi
- Start date
- 11,280
You were beat based on inexperience... not rate.
Until a medical exam is done, quotes are practically meaningless.
Always quote "based on your height and weight and current prescriptions".
Or quote based on a non-medical process and underwriting.
"Because this policy doesn't require a medical exam, it does have a higher cost, but it's more likely that you should be approved and get it approved quicker."
If all you have to offer is 'price'... then you will be beat by 'price' every time. Your value is in PLACING coverage... not quoting coverage.
Until a medical exam is done, quotes are practically meaningless.
Always quote "based on your height and weight and current prescriptions".
Or quote based on a non-medical process and underwriting.
"Because this policy doesn't require a medical exam, it does have a higher cost, but it's more likely that you should be approved and get it approved quicker."
If all you have to offer is 'price'... then you will be beat by 'price' every time. Your value is in PLACING coverage... not quoting coverage.
- Thread starter
- #3
- 11,280
No problem. Keep prospecting and keep asking questions.
It's the proper mix that will help you limit your "bleeding in combat" and help you grow faster.
It's the proper mix that will help you limit your "bleeding in combat" and help you grow faster.
the way the game is played is.
Other agent: "I can get you a policy for $$$."
when it comes back rated up
"It seems they found a few health problems but I was able to at least get you some coverage at $$$$+" ".You've already gone thru the paramed and underwriting so I just need this additional premium to put it into effect."
Most people don't want to go thru the process again so they just take it, happens more often than not.
DHK is right know why you policy is better and tell them up front if you no they can't get perferred plus rate, the longer you're in the business the more you can judge what they will qualify for.
Don't sell on price sell on value, you'll still get beat occasionally but when some other agent cheaper come along they'll kick out the other policy also.
Other agent: "I can get you a policy for $$$."
when it comes back rated up
"It seems they found a few health problems but I was able to at least get you some coverage at $$$$+" ".You've already gone thru the paramed and underwriting so I just need this additional premium to put it into effect."
Most people don't want to go thru the process again so they just take it, happens more often than not.
DHK is right know why you policy is better and tell them up front if you no they can't get perferred plus rate, the longer you're in the business the more you can judge what they will qualify for.
Don't sell on price sell on value, you'll still get beat occasionally but when some other agent cheaper come along they'll kick out the other policy also.
- 24,979
That. I may give them the P+ rates to show that I can show them the low ball numbers, then explain why I believe they will come in t2 and give them that number as well. I much prefer to quote a little higher and come in lower. If they are really pushing price I believe they will be customers not clients. In the beginning anyway.
If feel they are in denial on what their rating will be I tell them I will send it in with no rating but pick a company and product that has options to adjust before issue.
My bet is those people end up buying no life insurance.
The rate the other guy quoted won't happen. The husband has some other health problem they aren't mentioning and hope to hide. The insurance company will find out and rate him highly or decline.
Check back with them in 3 months and see if they bought anything. I bet not.
The rate the other guy quoted won't happen. The husband has some other health problem they aren't mentioning and hope to hide. The insurance company will find out and rate him highly or decline.
Check back with them in 3 months and see if they bought anything. I bet not.
- Thread starter
- #10
