What % of Your Business?

jn8691mr

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What % of your business is fully underwritten? I am reactively new to the business, about 8 months in, and have only written 1 fully underwritten policy (currently pending). I am with a company that stresses simplified issue products like AmAm (current comp is 70%). Through 8 months I've written about $75,000 in premium and am exploring options to be able to write with AGLA with an 85% comp, ANICO with an 85% comp and Stonebridge with a 115% comp. I only know what I've been taught/told so far. I like the fact that you get paid pretty quickly with the simplified issue. I guess my question is also, how much of a PIA is writing fully underwritten?
 
What % of your business is fully underwritten? I am reactively new to the business, about 8 months in, and have only written 1 fully underwritten policy (currently pending). I am with a company that stresses simplified issue products like AmAm (current comp is 70%). Through 8 months I've written about $75,000 in premium and am exploring options to be able to write with AGLA with an 85% comp, ANICO with an 85% comp and Stonebridge with a 115% comp. I only know what I've been taught/told so far. I like the fact that you get paid pretty quickly with the simplified issue. I guess my question is also, how much of a PIA is writing fully underwritten?

Fist off, the comp should not matter. What should matter is what is best for the client....
Write a decent amount of biz and you can find good comp.

If a client can be approved for a fully underwritten policy then it is by far a MUCH better product. SI/GI charges a higher rate for the same DB. By taking the "easy way" and pushing SI, you are screwing your clients who could be approved for a fully underwritten policy.

Yes SI is less hassle for the agent. Yes SI pays quicker than fully underwritten. But is that really worth screwing over good people who are putting their trust in you?????

Fully UW policies are not that big of a PIA. If you have a good upline they can do a lot of the PIA work for you if it really bothers you that much. All it takes is one or two extra phone calls and a little bit longer of an app. But in return the client either pays less or gets a higher DB for the same premium.

And if you can commit to that $75k with one IMO then many will gladly pay you higher comp than what you listed (85% is not high).

If someone is a 300lb asthmatic with COPD and high blood pressure, then write a SI policy. Or if they are just dead set against a medical exam then write SI.
But if they can pass UW then do the right thing. Making an extra phone call to set up a paramed exam and waiting a month to get paid will not kill you. And you will be doing the right thing for your client.

To answer your initial question; 99.5% of my life business is fully underwritten. Check out a good IMO like Pinney, they give excellent backroom support and street level comp with no production requirements. If you have decent production history and can commit it to them they will give you above street.
 
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As far as I know 80-85% with american General and 80% or so with anico is street level. Before contracting I called many Imo's and that was it. Yes many imos get 110-120% with these carriers but anything over 80-85% is paid by the imo.
 
As far as I know 80-85% with american General and 80% or so with anico is street level. Before contracting I called many Imo's and that was it. Yes many imos get 110-120% with these carriers but anything over 80-85% is paid by the imo.

AGLA Special Rep "street" is 90%..
 
Please name some imo's who can give me a contract with agla.Also the highest american General out of Houston non production contract I've seen is 85%.
 
I can't resist the urge to do FU Cases, in order to bring better prices, however, you can also go to (and cause) a lot of trouble by taking the wrong cases for fully underwritten. You can unintentionally hurt their chances at getting some SI policies by bringing them a decline.

The learning curve for fully underwritten is steep and unforgiving.
 
Its actually very very easy. 95% of your fe clients will be better off with simplified issue for one of 2 reasons. First and with about 80% they're in terrible health and would be rated 4-10 tables with fully underwritten thus they're getting a "group" rate with fe. The other 15% who could get a better rate will lapse and not pay anyway. That leads us to the second tier of products they could get with Mutual of Omaha and sagicor simplified issue. Sagicor is a great product but the problem is if it lapses in 1-6 a 100% chargeback and in month 7-12 a 50% hit. I look at it like this. Most fe people pay 15% for a car loan and are bad credit risks. They most also pay more for insurance as they're bad insurance risks wether it be for health reasons are lapses.
 
Its actually very very easy. 95% of your fe clients will be better off with simplified issue for one of 2 reasons. First and with about 80% they're in terrible health and would be rated 4-10 tables with fully underwritten thus they're getting a "group" rate with fe. The other 15% who could get a better rate will lapse and not pay anyway. That leads us to the second tier of products they could get with Mutual of Omaha and sagicor simplified issue. Sagicor is a great product but the problem is if it lapses in 1-6 a 100% chargeback and in month 7-12 a 50% hit. I look at it like this. Most fe people pay 15% for a car loan and are bad credit risks. They most also pay more for insurance as they're bad insurance risks wether it be for health reasons are lapses.

I tend to agree. I do FUW 85%+ but the FE people.... well you know. Even the ones who are in good health will never do a medical. I did a case a few weeks ago with a woman in perfect health, 78. She was so concerned about how many questions were on the app and that Columbian "only had 3 questions....." bla bla.

I explained it to her over and over again that she wants an app with more questions bc she is in perfect health and that if she would even do a medical she could get 25,000 for not much more. No go amigo.

I ended up putting her with UHL. Did I screw her over? No. I almost pulled my hair out. If it wasn't for it being a referral I never would have taken the time to deal with it.

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Its actually very very easy. 95% of your fe clients will be better off with simplified issue for one of 2 reasons. First and with about 80% they're in terrible health and would be rated 4-10 tables with fully underwritten thus they're getting a "group" rate with fe. The other 15% who could get a better rate will lapse and not pay anyway. That leads us to the second tier of products they could get with Mutual of Omaha and sagicor simplified issue. Sagicor is a great product but the problem is if it lapses in 1-6 a 100% chargeback and in month 7-12 a 50% hit. I look at it like this. Most fe people pay 15% for a car loan and are bad credit risks. They most also pay more for insurance as they're bad insurance risks wether it be for health reasons are lapses.

I tend to agree. I do FUW 85%+ but the FE people.... well you know. Even the ones who are in good health will never do a medical. I did a case a few weeks ago with a woman in perfect health, 78. She was so concerned about how many questions were on the app and that Columbian "only had 3 questions....." bla bla.

I explained it to her over and over again that she wants an app with more questions bc she is in perfect health and that if she would even do a medical she could get 25,000 for not much more. No go amigo.

I ended up putting her with UHL. Did I screw her over? No. I almost pulled my hair out. If it wasn't for it being a referral I never would have taken the time to deal with it.

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Its actually very very easy. 95% of your fe clients will be better off with simplified issue for one of 2 reasons. First and with about 80% they're in terrible health and would be rated 4-10 tables with fully underwritten thus they're getting a "group" rate with fe. The other 15% who could get a better rate will lapse and not pay anyway. That leads us to the second tier of products they could get with Mutual of Omaha and sagicor simplified issue. Sagicor is a great product but the problem is if it lapses in 1-6 a 100% chargeback and in month 7-12 a 50% hit. I look at it like this. Most fe people pay 15% for a car loan and are bad credit risks. They most also pay more for insurance as they're bad insurance risks wether it be for health reasons are lapses.

I tend to agree. I do FUW 85%+ but the FE people.... well you know. Even the ones who are in good health will never do a medical. I did a case a few weeks ago with a woman in perfect health, 78. She was so concerned about how many questions were on the app and that Columbian "only had 3 questions....." bla bla.

I explained it to her over and over again that she wants an app with more questions bc she is in perfect health and that if she would even do a medical she could get 25,000 for not much more. No go amigo.

I ended up putting her with UHL. Did I screw her over? No. I almost pulled my hair out. If it wasn't for it being a referral I never would have taken the time to deal with it.
 
I always considered FE a product and not a market/demographic... at least until I came to this forum...

If you are dealing with super low income or deadbeats then I guess pushing SI makes sense. But I dont consider that type of person a prospect in the first place... way too many fish in the sea... at least in my city there are.

If the OP is talking about the "FE demographic" then sure, push SI since 20% will lapse in the first year or two anyway.
If you are talking about a normal middle income prospect/family, then sell a fully UW policy.
 
I tend to agree. I do FUW 85%+ but the FE people.... well you know. Even the ones who are in good health will never do a medical. I did a case a few weeks ago with a woman in perfect health, 78. She was so concerned about how many questions were on the app and that Columbian "only had 3 questions....." bla bla.

I explained it to her over and over again that she wants an app with more questions bc she is in perfect health and that if she would even do a medical she could get 25,000 for not much more. No go amigo.

I ended up putting her with UHL. Did I screw her over? No. I almost pulled my hair out. If it wasn't for it being a referral I never would have taken the time to deal with it.

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I tend to agree. I do FUW 85%+ but the FE people.... well you know. Even the ones who are in good health will never do a medical. I did a case a few weeks ago with a woman in perfect health, 78. She was so concerned about how many questions were on the app and that Columbian "only had 3 questions....." bla bla.

I explained it to her over and over again that she wants an app with more questions bc she is in perfect health and that if she would even do a medical she could get 25,000 for not much more. No go amigo.

I ended up putting her with UHL. Did I screw her over? No. I almost pulled my hair out. If it wasn't for it being a referral I never would have taken the time to deal with it.

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I tend to agree. I do FUW 85%+ but the FE people.... well you know. Even the ones who are in good health will never do a medical. I did a case a few weeks ago with a woman in perfect health, 78. She was so concerned about how many questions were on the app and that Columbian "only had 3 questions....." bla bla.

I explained it to her over and over again that she wants an app with more questions bc she is in perfect health and that if she would even do a medical she could get 25,000 for not much more. No go amigo.

I ended up putting her with UHL. Did I screw her over? No. I almost pulled my hair out. If it wasn't for it being a referral I never would have taken the time to deal with it.



I'm sorry, I didn't quite catch that. Could you repeat it one more time.:err:
 
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