Why is There So Much Hate About Lincoln Heritage?

[tikibarrister]

Isn’t LH generating leads through its advertising? Then it turns around and sells the leads to its own agents...in other worda, you are one part producer and one part customer.

They aren’t selling the leads to you at cost...

 

[tikibarrister]

If my wife leaves me for another man who pays her more attention, which one of them should I blame (hate)? Is he unethical for approaching a married woman? Perhaps. Is she immoral for being seduced? Maybe. Does it really matter who's at fault?

She probably left a broke LH slave for an indy agent mack daddy.

 

[WinoBlues]

The nature of the quote is, "Why hate on LH...?" My response was... for those of us who are haters, its because we are envious of LH getting both more agents and more clients to do business with them, than we are. If LH were not outperforming us by such a large margin, we wouldn't even be discussing them. Every industry has at least one company that uses unethical practices. Every company, no matter how great, has at least one individual within it, who employs unethical practices. Sometimes, its the CEO himself!
If my wife leaves me for another man who pays her more attention, which one of them should I blame (hate)? Is he unethical for approaching a married woman? Perhaps. Is she immoral for being seduced? Maybe. Does it really matter who's at fault? No offense, but he MARKETED himself to be more appealing, even though he may have sold her a dream! Charge it to the game, my friend. That's Pimp'n 101.

With a little tweaking this could be a post on why life clients leave an agent (that has left them) and writes business with anew agent.

 

[PA Bill]

People here know the numbers. How could investing huge sums on leads upfront, then reselling them to your own agents at a small markup be some big cash cow for agencies? They're exchanging a lot of risk for nothing but hope.

 

[PA Bill]

Insurance agencies, and sales organizations in general, would rather not have to deal with leads at all. The only reason they bother is because they've found it impossible to attract salespeople without them.

 

[HoosierLife]

Leads are the name of the game. My spiel when talking to Agent prospects revolves around leads. High quality, affordable leads and that Schedule Themselves on your calendar.

I tell them, we offer the best training, support, agency builder platform etc, but without people to see, none of that means a thing.

Now Lincoln has leads. Super expensive direct mail/TV leads, that depending on your manager, are resold numerous times.

Their edge is that they don’t charge their agent for their leads upfront. So they can recruit the 9-5 employee mindset type of agent that just has to pass a test and go to work. That’s why they HAVE to have local offices and rah rah meetings all the time.

If someone fails out, they’ve got other local agents in the wings to pay for the leads.

But @PA Bill is right, any organization that pays for their agent’s leads are taking a huge risk upfront. That’s why Lincoln charges more for the leads, offers lower comp and charges higher rates to their client.

They are just offsetting their front end risk with backend reward. Same thing that many organizations do.

I’ve got a Mortgage Protection agency in my downline that offers free MP direct mail leads AND pre-set appointments at a 60% contract. The guy’s already loaded from decades in real estate. He’s doing the same thing.

Now we bash these type of groups because the agent CAN make more if they pay for their own leads and get the highest commissions up front.

And that may be true, but I heard a carrier say one time that less than 5% of their business came from agents at or above a street level contract.

Now some could argue that agencies and IMOs are taking advantage of their agents. That’s the argument against the Lincolns of the world. Those agents just don’t know what they don’t know.

But some people need the hand holding, the lead financing, the rah rah etc.

Just like an agent should focus on one niche and master it, agency builders have to also make sure they know what their recruiting niche in the marketplace is and focus on that.

 

[goillini52]

Leads are the name of the game. My spiel when talking to Agent prospects revolves around leads. High quality, affordable leads and that Schedule Themselves on your calendar.

I tell them, we offer the best training, support, agency builder platform etc, but without people to see, none of that means a thing.

Now Lincoln has leads. Super expensive direct mail/TV leads, that depending on your manager, are resold numerous times.

Their edge is that they don’t charge their agent for their leads upfront. So they can recruit the 9-5 employee mindset type of agent that just has to pass a test and go to work. That’s why they HAVE to have local offices and rah rah meetings all the time.

If someone fails out, they’ve got other local agents in the wings to pay for the leads.

But @PA Bill is right, any organization that pays for their agent’s leads are taking a huge risk upfront. That’s why Lincoln charges more for the leads, offers lower comp and charges higher rates to their client.

They are just offsetting their front end risk with backend reward. Same thing that many organizations do.

I’ve got a Mortgage Protection agency in my downline that offers free MP direct mail leads AND pre-set appointments at a 60% contract. The guy’s already loaded from decades in real estate. He’s doing the same thing.

Now we bash these type of groups because the agent CAN make more if they pay for their own leads and get the highest commissions up front.

And that may be true, but I heard a carrier say one time that less than 5% of their business came from agents at or above a street level contract.

Now some could argue that agencies and IMOs are taking advantage of their agents. That’s the argument against the Lincolns of the world. Those agents just don’t know what they don’t know.

But some people need the hand holding, the lead financing, the rah rah etc.

Just like an agent should focus on one niche and master it, agency builders have to also make sure they know what their recruiting niche in the marketplace is and focus on that.

It's just like any other type of business. The person/company that takes the most risk, has the greatest earning potential.

 

[Todd King]

Todd, I hear you. However, we serve Kool-Aids also. I can't hate you cause your clients prefer drinking your Kool-Aid, instead of mine. We are competing in a free enterprise society. Instead of hating, I say lets try and do a better job "marketing" our product and services as superior.

I'm not sure who this "we" is that you are referring to, but I can promise you, I don't serve it at all. When we say "Kool-Aide" around here we mean lies and bullchit. That is something I do not do at all.

It's beginning to sound like you are trying to defend them. If you want to defend their BS and lies, then go right ahead. But that is the reason why we don't like LH. It's just that simple.

 

[finalexpenseguy33]

As a former Lincoln Heritage employee I can honestly say they are the worst option for an agent even starting out. Here is what was done to me and countless other victims.

1-They took all my clients and would not give me pay any throughs or renewals.

2-They force you to take their high cost leads that they say are exclusive you just you, one agent, but they are not. They give to multiple agents. Oh and if the lead only speaks Spanish they tell you a credit will be issued. I got a ton of spanish speaking only leads and NEVER received one credit. Eve though the managers kept telling us you would. I asked them countless times on my credits, since it was such a big number. Always told we have to wait.

3-The managers told us at a forced meeting(even though we are independent), to tell customers we are their "financial advisor". I am serious you can't even make this up. All of us just looked at each other. Having just taken the insurance exam this is one of the questions on the test that we all knew was a big no no.

4-When they train you, and take you on the road so you can observe, their tactics are to treat customers as inferior people and to demean them and talk down to them. It was a horrible experience and nobody should be treated like that.

Going back to point number 1, almost everyone who worked there had a huge outstanding lead balance which they constantly threatened to VECTOR you. Even the best agents there who were producing could not get ahead. So most agents ended up being terminated. And when this happens they take all your customers. That is right. This one hit hard. All in all, these are facts based on my experience. On the flip side, I love replacing Lincoln's overpriced garbage products. It is bitter sweet.

 

[WinoBlues]

And when this happens they take all your customers. That is right. This one hit hard.

Just for FYI - You were captive. They were never your 'customers'.

I started at a very large mutual. 50% as earned comp, I think two weeks required daily classes, 'Phone Power' nights twice a week (dialing for dollars), told how to dress, suit and tie. after about a year and a half I left. Worked for a couple P&C agencies, AllState and an independent. Captive. Best training for me at that time. However, when I left these I left with zero clients. They were never mine.

I have been a Lone Wolf since. Best place for me.