What’s street comp and renewals on Lumico ?

[jdeasy]

What's the average renewal rate for other FE companies, if there is an avg?

Probably around 7% as an average.

 

[rousemark]

Even at the very high Aflac contract I got renewals are 3% less than others . Trans cut their renewals in 1/2 2 yrs ago . Wondering if that will be a trend . A long long time ago I made up to 7% renewals on term insurance like 20 yr level . Then one day term all went to zero .

Its why I got in Medicare a few yrs ago . It gives you the ability to take 4-6 weeks off if you desire . Or even 3-4 months and have little change in income . To replicate the renewals I’ll make in Medicare in 2023 I’d have to have $2.5 mil of flowing premium on books . After fe lapse,deaths I’ve read and seen myself persistency might be 50% max at yr 5 . So that would require writing $500 k premium for 10 straight yrs to have $2.5 mil on books ti equal my Medicare renewals . On the other side the service work and calls in mapd 20-1 over fe . So still a lot of work to keep it . You treat keeping your Medicare book level is your job at some pt . I saved 2 yesterday were phone centers tried to poach them . Like jd I monitor my Medicare book like a hawk and try to save all .​

With the first year on life being 5 times Med Supp, just bank the excess during the first year and then withdraw it during the renewal years.