No, LH is not a good company to go with. Their prices are high and the contract itself is one of the worst in the industry. If you are terminated for any reason, (and lack of production is one with them), you will lose any renewals of less than $250 per month! I've never seen a worse contract.
Selling Final Expense Via Telephone
- Thread starter matilda654
- Start date
- 16,877
LH has been very good to me.
Baltimore Life is good.
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G
Guest
Guest
I read from a member on this forum about a company that allows agents to sell over the phone, with no app, no signature, and the client is given a policy # right on a three way call to the company. This was a post by member called" lifesettlementadvisor, I tried e-mailing him but the e-mail came back as undeliverable. If any one knows who this company is or if you can tell me how to contact this person, " lifesettlementadvisor I would greatly appreciate it. Thanks, Gerry Boland
- 24,940
May60-70% over the phone. However, I am not an FE only guy. And almost all of them are referrals of clients. Not cold calls or mailed leads.
- 608
The carrier is Baltimore Life. That is who we use for our Final Expense telesales.
El Capitan
Expert
- 76
I know an agent/broker who sold a few policies for LH then after a (seemingly) short period of time they were dropped from LH for non production (3mos? 6 mos?) thus losing renewals at the same time. This seems like a good way to NOT have to pay renewals!
Has anyone had this experience w/ them in the past?
If that is the case then I won't consider contracting w/ them. And it seems from reading on here anyway that their policies are expensive and easily replaced w/ other products.
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- 18,984
If the renewals drop below $250/mo. they do not pay them, ever. It doesn't accumulate until you have $250. If it's below $250 for the month LH considers it their money, not the agent's.
El Capitan
Expert
- 76
Ok so it doesn't matter anyway until one gets to that level.
Weird that they would have a policy like that. Seems like a good way to save some money and cut the agent/broker out in the process. After all how many agents actually would get to that level unless they are selling LH product exclusively.
Or perhaps the most important thing (to LH atleast) is how many DON'T get to that level! If only 1 out of 10 producing broker/agents make it to their renewal payment then thats 9 other agents who just got cut out and they don't have to worry about!
