Agreed. Why would MetLife think this was a good market? It's not the best pool for underwriting, nor for lapse ratios.
Wally World Meets Snoopy
- Thread starter somarco
- Start date
Agreed. Why would MetLife think this was a good market? It's not the best pool for underwriting, nor for lapse ratios.
It's non-renewable OYT that is paid in advance; it operates on a completely different model than most agents are used to.
- 4,132
Met probably has a corporate deal in the works with walmart. The majority of the people who shop there do not have the extra income to purchase life coverage to begin with.
I think asking them to buck up first will kill the deal in the first place unless it's guaranteed and the people who can't get elsewhere will try it.
With re-entry every year, it's going to be expensive for met.
I don't see it working. It's going to be too expensive to work with for Met.
I think asking them to buck up first will kill the deal in the first place unless it's guaranteed and the people who can't get elsewhere will try it.
With re-entry every year, it's going to be expensive for met.
I don't see it working. It's going to be too expensive to work with for Met.
Ah, that explains it. And it fits the Wal-Mart model perfectly. Buy now, buy very cheap, it won't last, buy again next year.
Arthur Rudnick
Guru
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At a social function, I met with a top executive of MetLife. We discussed their relationship with Walmart.
He says it was a trial program started in 2 states and to date, the program has been a total flop with very little sales. He doubts that it will last much longer and that as of now, there are no plans to expand.
Got to give them credit for trying.
He says it was a trial program started in 2 states and to date, the program has been a total flop with very little sales. He doubts that it will last much longer and that as of now, there are no plans to expand.
Got to give them credit for trying.
Hate to disagree but the majority of people that shop at Walmart aren't low income earners.. The household average income for Walmart shoppers is only slightly lower than the overall average.
http://gaia.adage.com/images/random/walmart_avecust.pdf
In small towns like mine it wouldn't even be that mush lower if any at all.. I go to Walmart, I see my bankers, lawyer and doctors because it is basically the only place we have to shop that has a large variety of items.
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Don't think AFLAC wasn't "kicked" out. Allstate beat them out with a better rate.
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What do you mean "It is still their biggest account"? Aflac is not part of Wally's benefit package.
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