Insurance Agent Forum

[wmast]

New here

Coming from a paralegal background and recently interested in insurance.

I had two interviews with Western Southern and everything seems like a go once I pass my test and obtain my license.

Today I had a pre-contract meeting and they were discussing the compensation package (which has been significantly upgraded starting 1/05/2009).

When we were discussing it the sales manager gave an example of a client who receives 100k coverage for 80.00 a month. At the time I thought nothing of it but when I got home I thought to myself. Who the heck would pay 80.00 a month for life insurance!? That seems mighty hefty to me. Am I out of line or is that about average? I doubt anyone I know will pay that much.

Thanks

[HomeService]

If it's an older person and they buy whole life, no, that's not out of line.

[wmast]

Originally Posted by HomeService

If it's an older person and they buy whole life, no, that's not out of line.

Thanks for your response

I just went to their website and looked up a quote for a 30 year old non-smoking male. Whole life/ 100k. Got a 77.75 month quote. That sound about right?

[jody108]

I just got into insurance too ... it's good you are already considering prices ... I didn't do that until later and it cost me some time ... and an earful from my wife ...

I found that the company I was going to work for was expensive and it was a hard sale ... the independent guys could offer a better product for less ...

I've been in sales for a number of years and I always prefer to sell the cheaper priced product ... especially if it's the same quality ... otherwise, you are stuck trying to convince the client that the company is the best in the world ... yada, yada, yada ... you have to create value so they are willing to pay for the product ...

For me, it's less stressful knowing that I have a competitive product to offer ... it makes it more fun and it's been easier to get going and get out there and sell ...

There are a lot of guys on here who like to help people like you ... If I were you, i would seek out their advice ... it could save you years of stress ... it sure helped me ...

[wmast]

Originally Posted by HomeService

If it's an older person and they buy whole life, no, that's not out of line.

I just got a quote from their website for a 30 year old non smoking male. 100k/wholelife. The quote was 77.00 a month. That sound about right?
- - - - - - - - - - - - - - - - - -

Originally Posted by jody108

I just got into insurance too ... it's good you are already considering prices ... I didn't do that until later and it cost me some time ... and an earful from my wife ...

I found that the company I was going to work for was expensive and it was a hard sale ... the independent guys could offer a better product for less ...

I've been in sales for a number of years and I always prefer to sell the cheaper priced product ... especially if it's the same quality ... otherwise, you are stuck trying to convince the client that the company is the best in the world ... yada, yada, yada ... you have to create value so they are willing to pay for the product ...

For me, it's less stressful knowing that I have a competitive product to offer ... it makes it more fun and it's been easier to get going and get out there and sell ...

There are a lot of guys on here who like to help people like you ... If I were you, i would seek out their advice ... it could save you years of stress ... it sure helped me ...

Thanks alot for the info provided in the pm! Wasn't able to respond because I dont have enough posts. I really appreciate it

[HomeService]

Funny thing is I just went an got a quote for a company I use, not W&S= and it was also $77 a month for the same 30yo male. I guess that's about right. term is way cheaper, but WL you get the permanent factor.

[OHInsAGNT]

Originally Posted by HomeService

funny thing is I just went an got a quote for a company I use, not W&S= and it was also $77 a month for the same 30yo male. I guess that's about right. term is way cheaper, but WL you get the permanent factor.

My primary WL carrier is $66 a month for this policy. This is based on no additional table rating.

When we were discussing it the sales manager gave an example of a client who receives 100k coverage for 80.00 a month. At the time I thought nothing of it but when I got home I thought to myself. Who the heck would pay 80.00 a month for life insurance!? That seems mighty hefty to me. Am I out of line or is that about average? I doubt anyone I know will pay that much.

You are selling whole life in this example. For any type of life insurance but term, your selling an investment. It's not just a death benefit. They are not just dumping $80 a month down a rat hole. They are building wealth. In my experience, most people are more interested in UL or IUL these days than WL. These are also investments. Nothing sells IUL better than an illustration based upon a Net Zero loan at retirement to help fund it and still getting a DB.

Don't base your estimate of income on Whole Life. It won't make up most of your sales. The premiums on the other products are lower.
- - - - - - - - - - - - - - - - - -

Originally Posted by OHInsAGNT

My primary WL carrier is $66 a month for this policy. This is based on no additional table rating.



You are selling whole life in this example. For any type of life insurance but term, your selling an investment. It's not just a death benefit. They are not just dumping $80 a month down a rat hole. They are building wealth. In my experience, most people are more interested in UL or IUL these days than WL. These are also investments. Nothing sells IUL better than an illustration based upon a Net Zero loan at retirement to help fund it and still getting a DB.

Don't base your estimate of income on Whole Life. It won't make up most of your sales. The premiums on the other products are lower.

Well, I guess guaranteed DB UL is just a death benefit. It's kind of like permanent term. Is that an oxymoron?