Not really trying to beat them but pulled up compulife and ran a quote 250K 10 year level term preffered plus and Ohio National showed up at 16th place $130 annually some others showed up as
National Life Vermont $90
Reliastar $102.50
Protective Life/SBLI/West Coast $107.50
Banner $110
Not going to list the rest. I don't know what amount you where running but you might want to check out compulife excellent resource
I'm not saying on1sony is doing this, but I do believe too many agents, especially newer ones, spend too much time chasing the lowest possible rate.
In my early years I would tell people I'd get them the best rate out there. Dumb! Live by the sword, die by the sword. I don't want my business with a client based on the lowest rate. I provide quality advice, and good service. I can't remember when someone asked me if I was providing the cheapest rate possible. I haven't lost a sale in years because someone was able to beat my rate by 10 bucks a month.
Find a good company, with decent rates, with decent compensation, good service to the agents, put most of your business with them, maximize your contract to get bonuses, trips, incentives, and benefits.
I'm not saying on1sony is doing this, but I do believe too many agents, especially newer ones, spend too much time chasing the lowest possible rate.
In my early years I would tell people I'd get them the best rate out there. Dumb! Live by the sword, die by the sword. I don't want my business with a client based on the lowest rate. I provide quality advice, and good service. I can't remember when someone asked me if I was providing the cheapest rate possible. I haven't lost a sale in years because someone was able to beat my rate by 10 bucks a month.
Find a good company, with decent rates, with decent compensation, good service to the agents, put most of your business with them, maximize your contract to get bonuses, trips, incentives, and benefits.
My opinion only.
I agree Its irrational to go through the hoops to get appointed with a company for a $40 per year or $3.50 a month savings to the client. I'd rather deal with a Company that will give me good service and not be a hinderance in underwriting
Anybody beat ohio national on 10yr term rates?
California. super preferred.
They are very good rates but the conversion privilage ends when the policy term period ends so if you are looking at that that is a consideration. Although if you are looking to beat someone else's rates by $10.00 I doubt you are.
I concur with those who have said that if the company makes getting your policy through underwriting too hard, it doesn't matter how cheap the products are. I had one major carrier, which, IMO, still has the cheapest term rates, but getting through underwriting was like pulling teeth. I think that out of four policies I submitted one month to them, they issued one of them.
Just remember, no matter how good of a salesman you are, if your policies don't get issued, you don't get paid.
Dave
------------------------------------ 3rd Generation Independent Agent- L&H Only
I concur with those who have said that if the company makes getting your policy through underwriting too hard, it doesn't matter how cheap the products are. I had one major carrier, which, IMO, still has the cheapest term rates, but getting through underwriting was like pulling teeth. I think that out of four policies I submitted one month to them, they issued one of them.
Just remember, no matter how good of a salesman you are, if your policies don't get issued, you don't get paid.
Dave
I have a carrier that I have the same problem with, it may be the same as your's. They have fantastic rates and even great agent service, but, their underwriting is so prickly, you just can't folks covered.
I know plenty of companies that advertise great rates than rate up the client in underwriting. Ohio Nat'l can even be this way. They are my primary life carrier, not because they have the best rates, but because I get treated right, they are a client friendly company, and their products are competitive. Beyond just term price, also look at convertability options into permanent products. If I have a case that I know won't favor Ohio National due to a certain condition or situation, then I go to my MGA and find a better fitting carrier.
no really....why would anyone recommend 10 year term....
I had a 10-year term case recently. Guy was 55-years old. Had all his whole-life insurance already in place. He has retirement money in place. But he was thinking of buying a $100,000 term policy that was being offered as an employee benefit at his work. Just additional insurance to help his wife get by without his income in case he died during his working years. It was very cheap in his opinion.
I showed him he could buy an individual 10-year term policy for the same amount for even less with a little underwriting. He liked it and went for it. 20-year term jacked the price up too much in his opinion.
He not only bought it but sent me several referals of his co-workers.
Ohio National - Best 10 year term?
.
Linear Mode
