Final Expense Selling Machine.Where Are The Referrals

TRK3031962 · 12-31-2008, 07:26 PM

Adam,
You're selling that much and you're not on a 100+% contract? Wow dude, you're really getting screwed!! Most companies/fmo/imo/ga's etc. give out 100+% contracts like candy. If you're selling that much then give me a call, I can get you some excellent contracts above 100%!

jdeasy · 12-31-2008, 07:32 PM

Originally Posted by TRK3031962

Adam,
You're selling that much and you're not on a 100+% contract? Wow dude, you're really getting screwed!! Most companies/fmo/imo/ga's etc. give out 100+% contracts like candy. If you're selling that much then give me a call, I can get you some excellent contracts above 100%!

That's what I was thinking.

I'm on a 100% contract with LH and i sure don't do $200,000/yr with them.

TRK3031962 · 12-31-2008, 07:48 PM

Originally Posted by snowman

I use the qualifiying rule. This is MY rule, NOT an insurance company's rule. I tell them they do have to qualify as to their character and I need the names, phone #'s and addresses of 3 references that I will be contacting for a reference. This is also a close. Use a typed sheet with your letterhead and spaces typed in for the information. Put it in front of them with a pen and then shutup. First one speaks loses. Have them fill it out. They start trying to decide who to put down as references instead of giving objections. Tell them they need to call these references in advance to expect me. Then set your appointments. Tell them why you need to speak with them personally about your new client. I have a short list of questions I have already typed out on letterhead. I ask the references to please fill out the questions about the applicant. and place that in front of the reference. This gets them used to signing. 99 percent of the time the references will give you a good recommendation. After you get a recommendation talk to them about their needs. Make it a soft inquiry. The bottom line is I don't want to do business with someone that can't or won't give me a reference. It's either because they don;t really want the product and will cancel as soon as I leave or they have something to hide. Either way they won't be a long term client. It's my version of Markingriffin's Living Will refferal method.

It seems to me that your ultimate goal here is to get in and sell to the friends of your clients. That's called a referral dude, not a reference. You can disguise it any way you want but it's still a referral. If you want to call if a "reference" that's your prerogative. If you fill out an application trying to get a job, they ask for references, not referrals. That's because the company isn't going in trying to sell them something as their ultimate goal. The only reason you think this is something 'new' to us is because most of on here are not stupid enough to try and pull this underhandedness off. Illegal? I doubt it. Unethical? Absolutely!! Do the right thing because it's the right thing to do!
If this really is the way you think then you are a snake in the grass! Yep, it may be a personal attack but you deserve it for what you do. I have to wake up every day and fight against the conception about the ruthlessness of insurance agents and this is one of the very reasons why!
Now, if you're actually a good-hearted person and have just gotten on the wrong track, I humbly apologize and ask you to reconsider what you're doing and why you're actually doing it. If after that, you still think it's the right thing...then I hope you get what you deserve and soon!!

anyloan2 · 12-31-2008, 08:13 PM

Originally Posted by GreenSky

Adam:

Let me quote your website:

LINCOLN HERITAGE OFFER THE BEST FINAL EXPENSE INSURANCE IN MY OPINION. THE HAVE NO PHYSICAL EXAM, AGES 0-85, STARTS AT $15 A MONTH, AND CAN INSURE ALMOST ANYONE REGARDLESS OF HEALTH. BEST OF ALL THEY HAVE PLANS THAT START THE DAY THE PREMIUM IS RECEIVED, SO YOU DON'T HAVE TO WAIT 2 YEARS FOR COVERAGE!!

Is it possible that you could find a carrier with HIGHER rates and therefore higher commission? While finding the rock bottom price might not be necessary, you are likely screwing your clients by not using carriers that charge much less.

Please justify your "opinion" that LHL is the best carrier for FE.

By the way, the are terrific for med supps but I just couldn't stomach charging my clients 25% more for a policy than other carriers.

Rick

_______________________________________________

ACTUALLY I BEAT A LOT OF MY COMPETITORS RATES AND OFFER A SUPERIOR PRODUCT. UR TAKING SOMETHING LIKE A GREMLIN AND COMPARING IT TO A FERRARI. KEEP SELLING MEDICAL.

24 HOUR CLAIMS, FREE FSGS ENROLLMENT($399 VALUE), AND THE LIST GO ON AND ON.

HAPPY NEW YEAR
- - - - - - - - - - - - - - - - - -

Originally Posted by jdeasy

That's what I was thinking. I'm on a 100% contract with LH and i sure don't do $200,000/yr with them.

WHAT AGENCY DO YOU WORK WITH? WHAT AREA ARE YOU IN?

LOG INTO LH WEBSITE IF YOUR APPOINTED AND VERIFY MY NUMBERS I WROTE $21614 THIS MONTH AND HAD A WEEK OFF. MY AGENCY ADAM HALE AND ASSOCIATES 69K.

HOW DO YOU STACK UP TO THOSE NUMBERS AND WHATS UR NAME. ARE U GOING TO CABO

GreenSky · 12-31-2008, 08:25 PM

Originally Posted by anyloan2

ACTUALLY I BEAT A LOT OF MY COMPETITORS RATES AND OFFER A SUPERIOR PRODUCT. UR TAKING SOMETHING LIKE A GREMLIN AND COMPARING IT TO A FERRARI. KEEP SELLING MEDICAL.

I stand corrected. I guess paying 25% more for the same type of FE policy makes it a Ferrari. There product is the SAME as the other carriers. How much kool-aid did you drink?

The only carrier you can consistently beat is Transmerica but then again, they won't provide you with those great leads generated on TV.

Until you get to the older ages (80+), virtually any quality company can beat your A- VII carrier.

(I'm really not knocking the company. I love them for Med Supplements and write most of my business with them).

But you really should admit here that you're not selling them because they're priced well or they are a better product than other carriers. You're selling them because they provide you with cheap leads.

You can't post crap on this forum without someone calling bullshit. I call it on you.

Rick

jdeasy · 12-31-2008, 08:25 PM

Originally Posted by anyloan2

_______________________________________________

ACTUALLY I BEAT A LOT OF MY COMPETITORS RATES AND OFFER A SUPERIOR PRODUCT. UR TAKING SOMETHING LIKE A GREMLIN AND COMPARING IT TO A FERRARI. KEEP SELLING MEDICAL.

24 HOUR CLAIMS, FREE FSGS ENROLLMENT($399 VALUE), AND THE LIST GO ON AND ON.

HAPPY NEW YEAR
- - - - - - - - - - - - - - - - - -

WHAT AGENCY DO YOU WORK WITH? WHAT AREA ARE YOU IN?

LOG INTO LH WEBSITE IF YOUR APPOINTED AND VERIFY MY NUMBERS I WROTE $21614 THIS MONTH AND HAD A WEEK OFF. MY AGENCY ADAM HALE AND ASSOCIATES 69K.

HOW DO YOU STACK UP TO THOSE NUMBERS AND WHATS UR NAME. ARE U GOING TO CABO

No, I'm not going to Cabo. I don't do enough business with LH to get that trip. That's why it's odd that I have a 100% contract and you don't. I started at a 95% contract with them 2 years ago. My manager moved me to 100% once I did $6000 in two consecutive months. I didn't get a special deal. He does that for anyone.

TRK3031962 · 12-31-2008, 08:45 PM

Originally Posted by anyloan2

ACTUALLY I BEAT A LOT OF MY COMPETITORS RATES AND OFFER A SUPERIOR PRODUCT. UR TAKING SOMETHING LIKE A GREMLIN AND COMPARING IT TO A FERRARI. KEEP SELLING MEDICAL.

24 HOUR CLAIMS, FREE FSGS ENROLLMENT($399 VALUE), AND THE LIST GO ON AND ON.

I agree, you can certainly beat some other prices out there with LH, however there are many more companies that beat the hell out of LH. That's worth more than your FSGS by the way. It's just another sales gimmick. Kind of like Billy Mays...and if you act now, we'll send you this (gimmick) for absolutely free! Of course the gimmick only costs them about $1, and you're paying for it in their $19.95 product that only costs them $5. But it's a marketing ploy and it does work if you work it. I have had the opportunity to sell LH FE for years now, but never have I sold the 1st one because I just can't justify the client spending the extra money. Seems to me that someone at LH has done a really good job in brainwashing you on them being the "best". Just one more example that people 'see' what they want to see. You remind me of an old GA I once had that tried to convince me that UA was such a good company and I should start selling their med supps at 150% of other companies charged because they paid an upfront of 2 times what other companies did. Of course they were advancing for 18 months too. I just couldn't wrap my mind in the idea that I was screwing the client so that I could get paid more. That's just me though. You might be different.

anyloan2 · 12-31-2008, 08:46 PM

Originally Posted by jdeasy

No, I'm not going to Cabo. I don't do enough business with LH to get that trip. That's why it's odd that I have a 100% contract and you don't. I started at a 95% contract with them 2 years ago. My manager moved me to 100% once I did $6000 in two consecutive months. I didn't get a special deal. He does that for anyone.

WHAT AREA DO U WORK AND WHO IS YOUR MANAGER
- - - - - - - - - - - - - - - - - -

Originally Posted by jdeasy

No, I'm not going to Cabo. I don't do enough business with LH to get that trip. That's why it's odd that I have a 100% contract and you don't. I started at a 95% contract with them 2 years ago. My manager moved me to 100% once I did $6000 in two consecutive months. I didn't get a special deal. He does that for anyone.

U WROTE 6 K BIG DEAL I CAN DO THAT IN MY SLEEP. I'M A HUSTER AND I WILL HAVE A 100% IN THE NEXT FEW MONTHS AND AN AGENCY PUSHING 100K A MONTH. WHAT ABOUT YOU?

AT LEAST VERIFY MY PRODUCTION TO THESE LOSERS THAT SAY IT IS BS

jdeasy · 12-31-2008, 09:11 PM

Originally Posted by anyloan2

WHAT AREA DO U WORK AND WHO IS YOUR MANAGER
- - - - - - - - - - - - - - - - - -

U WROTE 6 K BIG DEAL I CAN DO THAT IN MY SLEEP. I'M A HUSTER AND I WILL HAVE A 100% IN THE NEXT FEW MONTHS AND AN AGENCY PUSHING 100K A MONTH. WHAT ABOUT YOU?

AT LEAST VERIFY MY PRODUCTION TO THESE LOSERS THAT SAY IT IS BS

I only do FE part time and I only do LH part of that time. I will be doing FE mostly fulltime after this AEP along with a med sup here and there. I will still only use LH on a very small % of cases.

I've been trying to log onto the LH site to check on your production, but, it seems to be down at the moment.

I work western Ky and southern In. My manager doesn't post here, so, I won't give his name on a website. He is going Cabo.

LH has it's place. It's not for the mainstream. And, while the FCGS is a sweet deal, it can be purchased by anyone from the website for $5.95/mo. Most carriers will beat LH by $15 to $20 mo. on a $10,000 policy.

GreenSky · 12-31-2008, 09:24 PM

Originally Posted by anyloan2

I'M A HUSTER

We know what kind of a hustler (note the spelling) you really are. You hustle your prospects into paying more than they need to. You don't need a high commission percentage when your product costs so much.

But I guess selling people what's best for you works. I prefer to use products best for my clients. But then, I'm not a hustler.

Rick

Frank Stastny · 12-31-2008, 10:20 PM

Originally Posted by GreenSky

We know what kind of a hustler (note the spelling) you really are. You hustle your prospects into paying more than they need to. You don't need a high commission percentage when your product costs so much.

But I guess selling people what's best for you works. I prefer to use products best for my clients. But then, I'm not a hustler.

Rick

Yea, what Rick said!

The one thing this industry does not need more of is people like him.

TRK3031962 · 12-31-2008, 10:42 PM

Originally Posted by Frank Stastny

Yea, what Rick said!

The one thing this industry does not need more of is people like him.

Yeah, what Frank said about what Rick said!!

Markingriffin · 12-31-2008, 10:47 PM

Originally Posted by TRK3031962

Yeah, what Frank said about what Rick said!!

Yeah, what Todd said that Frank said about what Rick Said if you scroll up.

Jim · 12-31-2008, 11:09 PM

I agree nothing wrong with LH I helped a laddy out today with them she was paying 200 month for a part f sup put here in a LH at 130. JD I saw you were on a 100% with LH I might be able to get you on a 105 with them if you are interested you can mail me. You may be locked in with your current imo though. Thanks for the info on the MA and PD today.

Originally Posted by jdeasy

I only do FE part time and I only do LH part of that time. I will be doing FE mostly fulltime after this AEP along with a med sup here and there. I will still only use LH on a very small % of cases.

I've been trying to log onto the LH site to check on your production, but, it seems to be down at the moment.

I work western Ky and southern In. My manager doesn't post here, so, I won't give his name on a website. He is going Cabo.

LH has it's place. It's not for the mainstream. And, while the FCGS is a sweet deal, it can be purchased by anyone from the website for $5.95/mo. Most carriers will beat LH by $15 to $20 mo. on a $10,000 policy.

HoosierDaddy · 01-01-2009, 03:11 AM

Originally Posted by Jim

I agree nothing wrong with LH I helped a laddy out today with them she was paying 200 month for a part f sup put here in a LH at 130.

Jim we are talking about FE rates not Med Sup rates...

And if you really wanted to help that lady you would have put her with a D plan, with another company...

Now we will really turn the heat up on this thread!!!

Russ · 01-01-2009, 07:02 AM

A warning about LH.......I didn't write that much with them....I write FE mainly with Shenandoah and Continental(until they pulled their FE products out of Florida)......but, LH will cancel your contract for lack of production. I was going through kidney failure in 2005....almost died and wound up on dialysis for a year and a half.....but LH would send me letters about canceling my contract if I didn't produce any business for them within the next 30 days. I wrote a letter to them explaining my health situation....they agreed to keep me active and then within 2-3 weeks, sent me another letter terminating me. Of course, the assholes kept all of my renewals. Granted FE renewals aren't that much, but I had a couple of policies with premiums at or near $100 a month. Some of what I had with them was still within the first year, before the commissions dropped.

I'm calling BS on their silly practices...especially when I was freakin sick and had lost 30-40 pounds and near death! F EM!

insureitnow · 01-01-2009, 07:51 AM

Originally Posted by Russ

. Of course, the assholes kept all of my renewals.

They can do that?

Russ · 01-01-2009, 08:02 AM

Originally Posted by insureitnow

They can do that?

Hell yeah they can do that. Not only that, then they send you ZERO correspondence on all of the policies! Whether it's...that an insured canceled a policy....the bank draft came back....nice company aren't they?

Then there are companies life the former PFL Life that sent a letter a few years ago stating that they are getting out of the FE market on a product series. Sorry, Mr. Russ, were canceling your contract and keeping all of your commissions. FIRST YEAR and renewals!

Montgomery Ward did that too.

And another thing...when LH terminated me, I was no longer able to call their service dept. # to help policyholders.

retread · 01-01-2009, 09:58 AM

Originally Posted by Russ

A warning about LH.......I didn't write that much with them....I write FE mainly with Shenandoah and Continental(until they pulled their FE products out of Florida)......but, LH will cancel your contract for lack of production. I was going through kidney failure in 2005....almost died and wound up on dialysis for a year and a half.....but LH would send me letters about canceling my contract if I didn't produce any business for them within the next 30 days. I wrote a letter to them explaining my health situation....they agreed to keep me active and then within 2-3 weeks, sent me another letter terminating me. Of course, the assholes kept all of my renewals. Granted FE renewals aren't that much, but I had a couple of policies with premiums at or near $100 a month. Some of what I had with them was still within the first year, before the commissions dropped.

I'm calling BS on their silly practices...especially when I was freakin sick and had lost 30-40 pounds and near death! F EM!

Better watch out for Continental (Genworth), too. They will cancel for non-production.

So far, Shenandoah hasn't dropped me, and I haven't written anything for them in '08. I have simply been busy with other products and activities. I even thought of dropping them at one time, but when Genworth dropped me just as I was about to publish my website (where I intended to list them), I considered that since Shenandoah hung in with me, that I would return the favor. I carry a couple other Med Sups, too, some with production, others not so.

I wrote a letter to the VP of Sales at Genworth that canned my contract and pointed out the fact that I didn't cost them anything to keep me and that I would be a potential sales source for zero cost. He never replied. I followed up with another pitch, this time copying everyone in the sales team, and still got not one reply. I junked all my sales literature from them and now that my shelves are cleared, I have room for some sales material of their competitors. With the financial problems at Genworth, I do not consider them a big loss, and think it is best to not be contracted with them any way.

Russ · 01-01-2009, 10:12 AM

Originally Posted by retread

Better watch out for Continental (Genworth), too. They will cancel for non-production.

So far, Shenandoah hasn't dropped me, and I haven't written anything for them in '08. I have simply been busy with other products and activities. I even thought of dropping them at one time, but when Genworth dropped me just as I was about to publish my website (where I intended to list them), I considered that since Shenandoah hung in with me, that I would return the favor. I carry a couple other Med Sups, too, some with production, others not so.

I wrote a letter to the VP of Sales at Genworth that canned my contract and pointed out the fact that I didn't cost them anything to keep me and that I would be a potential sales source for zero cost. He never replied. I followed up with another pitch, this time copying everyone in the sales team, and still got not one reply. I junked all my sales literature from them and now that my shelves are cleared, I have room for some sales material of their competitors. With the financial problems at Genworth, I do not consider them a big loss, and think it is best to not be contracted with them any way.

Yeah...I know about Continental too. Had over 100 active policies with them when they pulled the plug on me(when I was putting med-supp business elsewhere), and put me on a service contract...paying me at the end of the month vs. around the 10th of the month + only paying me about 70% of my commissions. Oh...and that was right around Christmas a few years ago....

Who would you write? Continental Life, that advances a 6 month commission on business and requires a phone interview on EVERY application OR M of O, that advances 12 months and rarely requires a phone interview + Continental Life charges interest on the advance and M of O doesn't.

Continental Life reinstated my contract a few years ago when I promised to write more business for them. Now they've withdrawn their....medical/surgical policy...their cancer plans...and ALL life products in Florida. They offer only 1 product anymore...their med-supps. I look for them to pull the plug on me again...soon.

Shenandoah doesn't do that as far as I know. They've always been fair with me. I've written consistently with them since 1999. WOW...TEN YEARS NOW!

Not really crazy with their New Vista FE plan compared to Golden Promise. It was a simpler application compared to this new product.