Senior Life Insurance Company

[Todd King]

LOL - Todd - I can read man. I understood everyone's asking about Renewal % and like I stated it varies between agent levels and it's not my place to post that in a public forum.

But - without a doubt - agents on my Team are paid renewals to all current agents for the WL, Indemnity, MA and Med Sup products regardless of their personal earning level.

Not side-stepping. Just not my place. On an Agents personal earning level - those commission levels are pretty much set, so it is okay to discuss them. Renewals are different . . .

Renewals coupled with the As Earned 7th - 12th month commissions are what provide Team Members with "Residual Income" . . .

Wrong! the 7th -12th month are NEVER "residual". I'm asking about after the 1st year. You know damned well what everyone is asking, so stop answering other things besides the question that has been asked.

Are you trying to tell me that one agent on 45% with Foresters may have a different renewal (not residual) than another one of your agents at the same 45% level? So you decide individually what the renewal levels are? Is this why you keep avoiding answering the question?

Oh, and yes you can post it on a public forum. The only thing you can't post on a public forum like this is anything above street levels. If someone at OLA is telling you any different, please have them contact me so I can set their stupid butt straight! If it's you who just thinks you can't, then I hope I've just set you straight. I've been doing this a long time now and you're not going to pull the wool over my eyes.

I think Dig was right when he said the renewals were at 0%. As a matter of fact, even on the regular schedules with Foresters, they don't even go down to 45%. They only go down to 60% and that renewal level is only 1.25% for years 2-5 and only .50% years 6-10. 45% has to be lower than that. If OLA had their own set of schedules made for Foresters (with Foresters permission of course), you can bet that the renewals are less than what it is on Forester's "public" commission schedules. That's what they do! Some things may have changed over at OLA since changing for Parker and Asses, but not the greed!

 

[myinsurebiz]

Man - y'all working my IQ potential today . . .

Wrong! the 7th -12th month are NEVER "residual".

Since we only advancing 6 months - is the business stays on the books ( we allow for 80% Persistency ) - then months 7 thru 12 are certainly "residual" income . . .

Here are two definitions in case you miss the first one:

1) Residual income (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended.

2) Residual income comes from building an asset that continues to pay you after the work has been done.

 

[goillini52]

You can't really pay attention to IQ tests. If anything it only registers "potential".

I've done them where the score came back near to 200, and I've done some where it was only about 140 or so. I think anything over 160 is supposed to be genius level. I might be a genius in some areas, but certainly not in the areas that count! LOL

I was only joking with Tom, and he knew it. I can't remember what mine was...it was probably closer to 100.

You have to score a minimum of 132 belong to Mensa. That's probably why Tom claimed a 132. I've known book smart people that were dumber than a box of rocks when it comes to common sense(Tom...LOL).

For those who want to check there IQ..........
https://www.mensaiqtest.net/

 

[myinsurebiz]

Are you trying to tell me that one agent on 45% with Foresters may have a different renewal (not residual) than another one of your agents at the same 45% level? So you decide individually what the renewal levels are? Is this why you keep avoiding answering the question?

I'm not avoiding the question. I'm not answering the question. Not my place. Carry on . . .

Oh, and yes you can post it on a public forum. The only thing you can't post on a public forum like this is anything above street levels. If someone at OLA is telling you any different, please have them contact me so I can set their stupid butt straight! If it's you who just thinks you can't, then I hope I've just set you straight. I've been doing this a long time now and you're not going to pull the wool over my eyes.

Not pulling anything over your eyes. I'm just not posting Renewals online . . .

Plus - I like sheep bahahahahaha . . .

I think Dig was right when he said the renewals were at 0%.

Digger is incorrect . . .

As a matter of fact, even on the regular schedules with Foresters, they don't even go down to 45%. They only go down to 60% and that renewal level is only 1.25% for years 2-5 and only .50% years 6-10. 45% has to be lower than that. If OLA had their own set of schedules made for Foresters (with Foresters permission of course), you can bet that the renewals are less than what it is on Forester's "public" commission schedules. [/QUOTE]

You are also incorrect with your assumption . . . I know nothing about Foresters schedules and arrangement with OLA other than my own schedule that will apply to me, which will also apply to my team . . .

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I think anything over 160 is supposed to be genius level.

140+ is Genius . . . As the IQ increases, the % of people having that IQ decreases . . .

FIIIIIIIIIINALLY!!!! You at least admit the contract level that I have stated this whole time. Thank you! Now...tell us the renewal levels for 45 and 50%.

I have stated 45% to 65% at the agent level from the get go . . . But - I personally won't start very many at 45% . . .

Renewals vary . . .

And your math sucks. Again...smoke and mirrors.

If your agents average sale is $30 a month premium....you need to just stop now. Thats so low. ****...my average agent sells $60-$70 a month per sale over the phone. Low premium means lack in confidence.

I used $30 because I'd rather come in low than high on projections . . . Plus - yesterday - both premiums quoted were for under $40 - that is what they could afford . . . My math is spot on thanks!

I was only joking with Tom, and he knew it. I can't remember what mine was...it was probably closer to 100.

You have to score a minimum of 132 belong to Mensa. That's probably why Tom claimed a 132.

I'm certainly not involved with Mensa. My Dad and Uncles were . . .

 

[digfesales105]

I'm not avoiding the question. I'm not answering the question. Not my place. Carry on . . .



Not pulling anything over your eyes. I'm just not posting Renewals online . . .

Plus - I like sheep bahahahahaha . . .



Digger is incorrect . . .

As a matter of fact, even on the regular schedules with Foresters, they don't even go down to 45%. They only go down to 60% and that renewal level is only 1.25% for years 2-5 and only .50% years 6-10. 45% has to be lower than that. If OLA had their own set of schedules made for Foresters (with Foresters permission of course), you can bet that the renewals are less than what it is on Forester's "public" commission schedules.

You are also incorrect with your assumption . . . I know nothing about Foresters schedules and arrangement with OLA other than my own schedule that will apply to me, which will also apply to my team . . .

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140+ is Genius . . . As the IQ increases, the % of people having that IQ decreases . . .



I have stated 45% to 65% at the agent level from the get go . . . But - I personally won't start very many at 45% . . .

Renewals vary . . .



[COLOR="DarkRed"[B]]I used $30 because I'd rather come in low than high on projections . . . Plus - yesterday - both premiums quoted were for under $40 - that is what they could afford . . . My math is spot on thanks![/COLOR]

[/B]



[COLOR="DarkRed"]I'm certainly not involved with Mensa. My Dad and Uncles were . . .[/COLOR][/QUOTE]

Then you're upline doesn't know how to quote and close. I'll throw you a bone. Go to Youtube and and listen/watch to my "how to get the right premium".

You might learn something

 

[myinsurebiz]

Then you're upline doesn't know how to quote and close. I'll throw you a bone. Go to Youtube and and listen/watch to my "how to get the right premium".

You might learn something

That is all they could afford and it was $10k so enough to handle a basic funeral 10 years from now . . . He did right by the client.

In addition - I can sell RAID to a roach - so, I'm good on the "closing" part.

Thanks on the offer - but, have watched 100 hours of videos of successful people the last 2 weeks - I'm ready to roll . . .

Gone through a few MA Carrier certification simulations and am ready to finish AHIP - So, I'm going to rest my brain this weekend . . .

 

[rousemark]

Man - y'all working my IQ potential today . . .



Since we only advancing 6 months - is the business stays on the books ( we allow for 80% Persistency ) - then months 7 thru 12 are certainly "residual" income . . .

Here are two definitions in case you miss the first one:

1) Residual income (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended.

2) Residual income comes from building an asset that continues to pay you after the work has been done.

First of all, look at your contract if you have one. The company pays a "first year" commission of which a portion may or may not be advanced... Then the company may pay a "renewal" commission following the first year. Your insurance contract never calls subsequent year commission "residual"

If you are advancing the first 6 months, the payments for the 7th - 12th months are earned first year commissions.. not residuals. And, if are a decent agent that services your clients you would know that commissions are never "passive" income.

 

[goillini52]

That is all they could afford and it was $10k so enough to handle a basic funeral 10 years from now . . . He did right by the client.

In addition - I can sell RAID to a roach - so, I'm good on the "closing" part.

Thanks on the offer - but, have watched 100 hours of videos of successful people the last 2 weeks - I'm ready to roll . . .

Gone through a few MA Carrier certification simulations and am ready to finish AHIP - So, I'm going to rest my brain this weekend . . .

With a 132 IQ, you shouldn't have to rest it. Use it or lose it.

 

[myinsurebiz]

First of all, look at your contract if you have one. The company pays a "first year" commission of which a portion may or may not be advanced... Then the company may pay a "renewal" commission following the first year. Your insurance contract never calls subsequent year commission "residual"

If you are advancing the first 6 months, the payments for the 7th - 12th months are earned first year commissions.. not residuals.

I showed the definition of residual twice. It's okay for you to have a different meaning . . .

With a 132 IQ, you shouldn't have to rest it. Use it or lose it.

Bahahahahaha - dude, I am resting it . . . While treating it to some cold beer

 

[rousemark]

I showed the definition of residual twice. It's okay for you to have a different meaning . . .



Bahahahahaha - dude, I am resting it . . . While treating it to some cold beer

It is not I that had a different meaning but the industry. You will not find that term used in any insurance agent contract. For one thing renewal commissions are not "passive" income as the business requires ongoing service. Also, unlike an investment in an investment vehicle that pays a "trail" with out any additional deposits, the insurance contract generally requires additional payment in order earn renewals. Insurance agents need to quite using investment terminology to describe their product because in doing so they give ammunition to those that want to regulate insurance the way stocks, bonds, mutual funds, etc. are regulated.