Originally Posted by Newby
They are basically LH with a casket gimmick instead of the FCGS gimmick. Neither gimmick stands a chance when a good agent comes in the home and gives them 25% more death benefit for the same premium.
Plus both Senior Life and LH pay low commissions, charge more than anyone else on their leads and will not give 1st day coverage to applicants with health issues on a large percentage of cases. The independent agents have a huge advantage there.
Being independent is not complicated if you have the right training and resources.
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.