Senior Life Insurance Company

[me112233]

Low commissions? That depends on the mgr. the recruit is talking to. Recruits with proven track records can get contracts over 100%, just like you give out Newby. In fact, agents who write $200k+ per year can get higher than the 115% contracts you give out!

Expensive leads? DM leads are $29 and they have a "no PO Box" filter, an income filter, and an age filter. $29 is an excellent price with these filters. They also have "life insurance" in bold print in the 1st sentence and are very directly worded. They talk about the high costs of funerals, etc. and come in an 8x11 snap pack mail piece. There is no confusion that the DM piece is talking about life insurance, nothing mentioned in vague wording. Never hear prospects saying "I thought this was some thing free from the gov't". DISCLAIMER: DM leads are $35 in Fl., $29 in all the other states.

You don't think that it's a little complicated for a new agent to have to learn several FE companies at the start? I talk to FE agents all the time who feel overwhelmed learning so many companies at the start. Always having an app declined due to confusion of which company to pick. Not to mention apps that are 7-15 pages long. I like that SL keeps things simple with a one page app.

SL (and LH) have higher premiums because there are no MIB's, No script checks, no APS's. I like it that way because I get paid based on production issued with no worries of an MIB, RX check, etc. getting in the way of me getting paid. In fact charge backs never interrupt me getting paid like it is with the other FE companies that you represent. If higher premiums meant lots of replacements don't you think LH or SL would change their business model? If there were lots of replacements they would lower premiums and tighten underwriting and do PHI's, MIB's, etc. like a lot of the companies you represent.

Not trying to argue with you Newby but you really should know your facts before you start to criticize a competitor.

OK, I'll take the bait. What is a DM lead?

 

[ncaggie]

Direct mail......

 

[mstac03]

Senior life also reduces your commissions by about 35% now, if you don't enroll the client into their Legacy program.

Why would any insurance company punish an agent, because a client doesn't want to spend $3.00 a month, on a gimmick product? That doesn't seem like an insurance company that cares about you, the agent.

Surprised Greg didn't mention this.

Not true, they do NOT lower commission like that.

 

[Mattschmidt]

Not true, they do NOT lower commission like that.

it is 100% true. You can even ask Insuranceman, who is employeed by them. He's active on this forum.

It's a shame a company would punish an agent, because a client didn't want or need the benefits from Legacy Assurance Plan.

 

[rousemark]

Not true, they do NOT lower commission like that.

You better look again.. On the commission scale I looked at, the Standard WL commission was 20 points less if you did not add the "VAP". But even worse is the fact that if you do not add the "VAP" it pays 0% renewal..

 

[Mattschmidt]

You better look again.. On the commission scale I looked at, the Standard WL commission was 20 points less if you did not add the "VAP". But even worse is the fact that if you do not add the "VAP" it pays 0% renewal..

that's even worse. So they don't pay renewals, if someone doesnt enroll in it???

 

[rousemark]

that's even worse. So they don't pay renewals, if someone doesnt enroll in it???

Yeas... And then to top it off, they charge back 100% on all plans if the policy lapses during the first 6 months..

 

[Mattschmidt]

Yeas... And then to top it off, they charge back 100% on all plans if the policy lapses during the first 6 months..

That's just ridiculous. The thing I always found ironic was how they pay the agent a lower commission, based off the preferred and super preferred plans.

You'd think an insurance company would want you to put healthy people on the books. Instead they punish you financially.

 

[Iwillpay]

That's just ridiculous. The thing I always found ironic was how they pay the agent a lower commission, based off the preferred and super preferred plans.

You'd think an insurance company would want you to put healthy people on the books. Instead they punish you financially.

From what I observe here on the Forum, it looks like the RVP have their own compensation schedules/different commission rtes
Inursanceman may want to enlighten us.

 

[Mattschmidt]

From what I observe here on the Forum, it looks like the RVP have their own compensation schedules/different commission rtes
Inursanceman may want to enlighten us.

I know they have some wiggle room, with what type of contract they can hand out.

But then again, if a company makes it tough for you to sell a product ( meaning home office can't process things properly, calls your client without you knowing about it and talks them out of sale ) , cuts your commission when you sell preferred, super preferred products, and when they cut your commission for not selling a legacy assurance plan, does it really matter what contract level your at????

Insuranceman also doesn't give out 100% contracts. I know agents below him are below 100% contract. And remember if you don't sell legacy assurance, there's 20% of your commission cut