Many Imos and Agents Have Been Around 24-36 Months Independent. How is Your Persistency?

goget

Guru
100+ Post Club
289
I know this subject has been brought up before but now that many imos and agents on here have been independent 24-36 months what are you seeing as longer term persistency?If an agent does $150-$200k ap for 3-5 straight yrs then 7-9% renewals could easily be $3-$5k a month on the back end and pay all lead costs for 30 leads a week and expenses . Just wondering what longer term agents and imos are seeing in reality ?
 
I know this subject has been brought up before but now that many imos and agents on here have been independent 24-36 months what are you seeing as longer term persistency?If an agent does $150-$200k ap for 3-5 straight yrs then 7-9% renewals could easily be $3-$5k a month on the back end and pay all lead costs for 30 leads a week and expenses . Just wondering what longer term agents and imos are seeing in reality ?

I've been at it many years and have huge renewal income. And I've never sold the huge volume of FE that the big hitters sell. I've always averaged around $10,000 monthly in FE. I've always focused on renewal commissions more than most agents do and all the companies paid better renewals in the past than they do today. I've always thrown some Med Sup sales in with the FE to help build renewals.

I have no idea what my 5 or 10 year persistency is. But there are a bunch of them still paying.
 
I know this subject has been brought up before but now that many imos and agents on here have been independent 24-36 months what are you seeing as longer term persistency?If an agent does $150-$200k ap for 3-5 straight yrs then 7-9% renewals could easily be $3-$5k a month on the back end and pay all lead costs for 30 leads a week and expenses . Just wondering what longer term agents and imos are seeing in reality ?

I'm curious too! Right now my 2nd year persistency is around 70-75% but I'm sure there are agents that do a LOT better than that!

I wonder what a 3rd year persistency average is like for some of the "old timers" on here!
 
Unfortunately few of the people I see are even on Medicare advantage and almost all are on Medicaid so transitioning to anything medicare related is out the door.I will start slowly running medicare leads to slowly build that book over a 3-5 yr period. How much service work do you have with med sup doing that for many years?

Newby since you've been in fe many yrs have you had a lot of contestable fe claims? Somebody once told me many contestable claims are not paid. Whats your experience?
 
Last edited:
Unfortunately few of the people I see are even on Medicare advantage and almost all are on Medicaid so transitioning to anything medicare related is out the door.I will start slowly running medicare leads to slowly build that book over a 3-5 yr period. How much service work do you have with med sup doing that for many years? Newby since you've been in fe many yrs have you had a lot of contestable fe claims? Somebody once told me many contestable claims are not paid. Whats your experience?

I've only had two not pay out of many contestable claims. Both were clear cases and the families were not too upset. One took a med for dementia that he didn't disclose and his daughter was very involved with that application so she was aware. Lived 23-months and was a $175 premium so that stung a little. Other was a guy that refilled an inhaler every year at the VA but his wife claimed that he never used it. She was angry but why would he refill it every year?

Worst claim I ever had was one that did get paid. Company took 8-months to decide to pay even after they had all the records in two months. That one was brutal and that family was pizzed. But the claim was paid.

I set the tone on appointments that we do NOT want to slide anything by. We want to find you the best rate that you actually qualify for. I think the agent greatly affects how honest the applicant will be in many cases.

Plus some companies just do pay their claims better than others. Settlers for instance may be more frustrating to get approvals but if you have a contestable claim, you breath a sigh of relief when Settlers is the company.

----------

Unfortunately few of the people I see are even on Medicare advantage and almost all are on Medicaid so transitioning to anything medicare related is out the door.I will start slowly running medicare leads to slowly build that book over a 3-5 yr period. How much service work do you have with med sup doing that for many years? Newby since you've been in fe many yrs have you had a lot of contestable fe claims? Somebody once told me many contestable claims are not paid. Whats your experience?

Med a Sups have very little service work. Just don't do Med Advantage because that's a lot of service work.
 
I'll be disappointed if this thread doesn't get a lot of responses to the op's initial question. Otherwise I would tend to think a non response is very telling.
 
Unfortunately I think that's the case. At least in the first few yrs Fe is like a hamster on a tread mill. You better be writing $12-$15 k a month. Most of these people uneducated and easy to sell much like a rent a center. A lot wants but how many keep thus why you see a lot of people recruiting to even out the ups and downs . My goal is to add 5-10 med supps a month to my selling.
 
So Agentguy5 is the only experienced agent on the forum who will state a persistency % ?

----------

I'm curious too! Right now my 2nd year persistency is around 70-75% but I'm sure there are agents that do a LOT better than that!

I wonder what a 3rd year persistency average is like for some of the "old timers" on here!

Can you share what your FY persistency is? Thanks
 
I'll be disappointed if this thread doesn't get a lot of responses to the op's initial question. Otherwise I would tend to think a non response is very telling.

I don't why it's important to know what others are doing. That's kinda like the ones that come on here and ask about the "average" agent.

I would guess that most of us don't know. I only have one company that shows a 25 month persistency and I'm at 75% on that one.

If they didn't track that I wouldn't have any idea. I still get paid every friday by Shenandoah. I haven't written a Shenandoah in over 6 years. I still get paid every Tues by F&G. I haven't written one of them in about 6 years. I get a commission statement every month from Presidential and I haven't written one of them in 10 years.

My renewal income is pretty good but I don't track it and separate it from my first year income. It all goes into the same account.

I've never had a company mention a problem with persistency in my 11 years in this business.

Nor do I concern myself with persistency issues. I write business and service the ones I write. I figure all the other stuff will work itself out.
 
Back
Top