What to Do Next Med Supps or Term Life?

[LifeHealth]

Yea I think I'm going to focus on Medicare and if a life policy presents its self take it like I've been doing.

They own the book 100% if I leave, I leave empty handed but I have a nice office, tons of walk in traffic, advertising, training and a big book to draw from. Its a 60-40 split which I think is pretty fair. They've told me that I'll have the option to buy in possibly and if I get too busy they will hire agents under me that I will get an over ride on. I did sign a non compete and can't open an office within 5 miles or go after their list for 1 year. it's hard going back to being an employee but they treat me great and show their appreciation so its not a bad gig. Seem fair to you?

 

[somarco]

Sounds fair as long as it is all in writing . . .

and you plan on staying a while . . .

but the longer you stay the easier it becomes for them to change their mind.

I have built businesses for other people in the past. Somehow it never worked out as promised.

So call me skeptical.

The first time I built a business for someone else I was about your age. The last time I was 43.

 

[LostDollar]

(My standard-not an agent here- disclaimer.)

A couple of weeks ago I was thinking about kids life insurance.

Wondering if there is a market in the 65-70 year old range for life insurance to leave gifts to grandkids.

And reading your posts, I could extend that to ask is there a market in the younger couples for life insurance on the newly born to whenever age as a gift for a little farther down the road.

I'm sure there are a lot of people in both markets that could not afford that extra financial expense, but there must be some that can.

The question would then be if there is a presentation that would get them interested in buying?

Just thoughts for your consideration.

 

[pcbinsurance]

Your employer owns the book but if you do Medicare, how will you split up the renewals long term? Do you plan on being there 5, 10, or 20 years?

 

[vic120]

Yea I think I'm going to focus on Medicare and if a life policy presents its self take it like I've been doing.

They own the book 100% if I leave, I leave empty handed but I have a nice office, tons of walk in traffic, advertising, training and a big book to draw from. Its a 60-40 split which I think is pretty fair. They've told me that I'll have the option to buy in possibly and if I get too busy they will hire agents under me that I will get an over ride on. I did sign a non compete and can't open an office within 5 miles or go after their list for 1 year. it's hard going back to being an employee but they treat me great and show their appreciation so its not a bad gig. Seem fair to you?

The reason I left the call center that I worked for and went independent, Was because after a couple Great years, They changed they no longer wanted to sell good products but wanted to sell over priced indemnity plans.

Too Push agents that did not want to sell that they eliminated residuals to the agent on products they no longer wanted to sell. Just like that all of a sudden, I left empty handed and it was the best thing I ever did,

I am glad they did take away renewals as it would have been harder to leave

 

[VolAgent]

(My standard-not an agent here- disclaimer.)

A couple of weeks ago I was thinking about kids life insurance.

Wondering if there is a market in the 65-70 year old range for life insurance to leave gifts to grandkids.

And reading your posts, I could extend that to ask is there a market in the younger couples for life insurance on the newly born to whenever age as a gift for a little farther down the road.

I'm sure there are a lot of people in both markets that could not afford that extra financial expense, but there must be some that can.

The question would then be if there is a presentation that would get them interested in buying?

Just thoughts for your consideration.

People have made a living or at least a good portion of their living doing exactly this. My mentor at Mass Mutual got started selling kiddie VULs while at Prudential. This was back in the late 80s right after Black Friday. The policies were stuffed with cash.

Alan over at Trinity has told me repeatedly about selling policies on the grandkids. I'm not sure just how big a part of his business that was, but I doubt it was small.

 

[jdeasy]

People have made a living or at least a good portion of their living doing exactly this. My mentor at Mass Mutual got started selling kiddie VULs while at Prudential. This was back in the late 80s right after Black Friday. The policies were stuffed with cash.

Alan over at Trinity has told me repeatedly about selling policies on the grandkids. I'm not sure just how big a part of his business that was, but I doubt it was small.

I don't know about making a living on it but I sell quite a few policies for the grand kids. Did 3 this week. 2 KSKJ 10 pays and 1 Trans 10 pay.

I don't know how many RNA 20 pays I have on the books but it's a bunch of them. Recently did a Trinity 10 pay.

I'm sure I've done some life pays on kids but it's very few.

I always recommend a stand alone policy over a rider. Sometimes they do the rider too.

 

[VolAgent]

I don't know about making a living on it but I sell quite a few policies for the grand kids. Did 3 this week. 2 KSKJ 10 pays and 1 Trans 10 pay.

I don't know how many RNA 20 pays I have on the books but it's a bunch of them. Recently did a Trinity 10 pay.

I'm sure I've done some life pays on kids but it's very few.

I always recommend a stand alone policy over a rider. Sometimes they do the rider too.

Gives you a reason to talk to the parents too. Maybe not buyers now, but eventually. That is more Wino's business model however.