- 2,195
As the "independent" if you are focused solely on the price - perhaps you may be missing the boat. Focus on being a professional rather than a call center individual and you will win more than you lose.
Online Term Vs Agents' Term - Can Agents Compete Price-wise?
- Thread starter TomZack
- Start date
- Thread starter
- #12
TomZack
Super Genius
- 100
Thank you danerlavigne and NinjaNic.
daner....when you say you can normally 'match that price at that rating' isn't that dependent on which companies you are affiliated with?
NinjaNic - I appreciate your thoughts.
As a newbie, I'm just trying to figure it out and get associated with the right companies.
daner....when you say you can normally 'match that price at that rating' isn't that dependent on which companies you are affiliated with?
NinjaNic - I appreciate your thoughts.
As a newbie, I'm just trying to figure it out and get associated with the right companies.
Prices are at at the state level. The state has to approve them. That's why all agents have the same prices. There are no discounts on life insurance.
As for carriers, work with a good BGA. They'll have all the carriers you need. Just make sure you get street level comp and it's paid directly to you. You're new you're going to need their help processing business. Don't worry about the specific companies, worry about the market and have the companies so you can adjust when needed.
As for carriers, work with a good BGA. They'll have all the carriers you need. Just make sure you get street level comp and it's paid directly to you. You're new you're going to need their help processing business. Don't worry about the specific companies, worry about the market and have the companies so you can adjust when needed.
GordieHowe
Expert
- 77
Do commission levels matter to you personally when contracting with a BGA/IMO?
TevisVerrett
Expert
- 77
Tom
I spanked SelectQuote and their Banner Life Term Product. What we have over the RoboAgents is client care and the human connection. My client has medical complications and I was able to shop around and get a better table rating.
Human connection trumps price.
We independents WIN!
I spanked SelectQuote and their Banner Life Term Product. What we have over the RoboAgents is client care and the human connection. My client has medical complications and I was able to shop around and get a better table rating.
Human connection trumps price.
We independents WIN!
- 135
I have heard (and maybe believe) most people don't know who to contact with insurance questions or concerns. They want to know there is a local connection with an agent when they do.
As previously noted in another post, an agent who knows a little about underwriting can have an advantage.
So, ask the prospect detailed questions about their health. Drill down. Get meds, dates of diagnosis, A1C, etc. etc. Make the person understand you are asking these questions now in order to give them a more realistic quote. They will have to answer these questions sometime!
Use carrier-specific uw guidelines.
Do a risk assessment. An underwriter will help you with this if you let them know you want to place business with them.
Work with a good IMO/BGA who can help you learn uw.
Give the prospect the quotes you found and let them know what you have done in arriving at those. Most people will appreciate that and want to do business. Others will not give a crap.
I offer the same premium as anyone else but I do more legwork for the prospect. That's the advantage.
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I've just started reading Jeff Root. This is essential information.
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Associate with a good BGA/IMO first. They will connect you with the best carriers.
TevisVerrett
Expert
- 77
Brother MORETRAX is spot on. This is EXACTLY what I did and do with customers. Drill down on their medical conditions and/or pain points. . .
When we come up with an offered solution to their specific need, we will win the contract each and every time.
I NEVER mention product. It is about the process and solution!
Midland National Life gives you access to the underwriter. I am a happy producer!
- Thread starter
- #18
TomZack
Super Genius
- 100
Do you have a good BGA for Connecticut to recommend? There are so many of them.
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I have heard (and maybe believe) most people don't know who to contact with insurance questions or concerns. They want to know there is a local connection with an agent when they do.
As previously noted in another post, an agent who knows a little about underwriting can have an advantage.
So, ask the prospect detailed questions about their health. Drill down. Get meds, dates of diagnosis, A1C, etc. etc. Make the person understand you are asking these questions now in order to give them a more realistic quote. They will have to answer these questions sometime!
Use carrier-specific uw guidelines.
Do a risk assessment. An underwriter will help you with this if you let them know you want to place business with them.
Work with a good IMO/BGA who can help you learn uw.
Give the prospect the quotes you found and let them know what you have done in arriving at those. Most people will appreciate that and want to do business. Others will not give a crap.
I offer the same premium as anyone else but I do more legwork for the prospect. That's the advantage.
----------
I've just started reading Jeff Root. This is essential information.
----------
Associate with a good BGA/IMO first. They will connect you with the best carriers.
Thanks. That all sounds like good advice. I'm reading Jeff Root's book now, too.
Same question as to the previous responder....do you have a good IMO/BGA for Connecticut for life insurance carriers to recommend?
Anyone else out there who can recommend a solid IMO for Connecticut w/ good carriers who pays the best commission?
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Thanks Tevis. Appreciate the input. I am assuming I can rep Midland in Connecticut. I'll check them out.
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Nice! Good to hear!
Knowledge is power. As someone else mentioned further on, I guess I have to get to know underwriting better and have a good network to run cases through.
insuringindia
New Member
- 7
online comparison portal provide you better quotes of any insurance
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