Legacy Renewal Rates

[scagnt83]

I had a discussion recently with another agent about Legacy Partners and their products, specifically the Liberty Mark. Obviously there is no history to base renewals on for the Liberty Mark product. But Legacy has other products like the ones with F&G. Does anyone have any experience selling these products and seeing the renewal rates for them? Are Legacy products renewing at decent rates?

My biggest issue with the Liberty Mark product is that it is brand new and has no history behind it at all. At least with some competitors like NWL I can see their renewal history and know what to expect. But I feel like I am flying blind with LM... any insights?

 

[Josh Landis]

I had a discussion recently with another agent about Legacy Partners and their products, specifically the Liberty Mark. Obviously there is no history to base renewals on for the Liberty Mark product. But Legacy has other products like the ones with F&G. Does anyone have any experience selling these products and seeing the renewal rates for them? Are Legacy products renewing at decent rates?

My biggest issue with the Liberty Mark product is that it is brand new and has no history behind it at all. At least with some competitors like NWL I can see their renewal history and know what to expect. But I feel like I am flying blind with LM... any insights?

I have the same concerns for Liberty Mark, although I work for an FMO, I still like to see renewals...however, I did have a conversation with someone at Americo and they told me that whatever rates the policy issues it shouldn't change very much if at all. Their policy is to change rates for new policies versus changing them for existing. I hope this is accurate, bc I like the product.