Who Can Boast Having the Best Renewals?

oicu812nbama · 07-16-2009, 03:49 PM

I have accepted insurance as my career. Never gave much thought to renewals before...
Thanks in advance,

Matt

Oh yeah products- Life, med supps, disability, annuity, health, ltc

souldeux · 07-16-2009, 03:59 PM

I know I get 7% on my Humana renewals, but I think that's specific to Georgia. Aetna is, umm...10% I think. BCBS is a flat 10% here in Georgia as far as I know.

As far as life, Assurity's renewals are pretty decent.

moonlightandmargaritas · 07-16-2009, 06:44 PM

Originally Posted by oicu812nbama

I have accepted insurance as my career.

Is this similar to accepting Jesus Christ as your savior?

In terms of individual health insurance here in Florida, I prefer Humana, because they base your renewal comp not on the original premium, as most carriers do, but on the current premium.

Seems fairer.

VolAgent · 07-16-2009, 07:28 PM

I hope you don't talk like this to a client. You sound resigned to insurance as a career, like you are just settling because you couldn't find anything better. Before hunting for the best referrals, you might want to rethink if you even want to be in this business.

Originally Posted by oicu812nbama

I have accepted insurance as my career. Never gave much thought to renewals before...
Thanks in advance,

Matt

Oh yeah products- Life, med supps, disability, annuity, health, ltc

GonnaFlyNow · 07-16-2009, 07:52 PM

The best persistency is with ltci.
The highest renewals are with medsupps byt the first year money on medsupps is lousy.

oicu812nbama · 07-17-2009, 03:56 PM

"I hope you don't talk like this to a client. You sound resigned to insurance as a career, like you are just settling because you couldn't find anything better. Before hunting for the best referrals, you might want to rethink if you even want to be in this business." << You are that guy!

You guys notice that there is always "that guy" who is an idiot but he thinks he's intelligent and he tries to psychoanalyze your post without even having an answer to the question at hand? I didn't write anything about referrals

Newby · 07-17-2009, 04:58 PM

The best renewals I have are Assurant FE.

They pay 8% for lifetime. Most FE renewals go way down after 10-years and some even after 5.

maleman2045 · 07-19-2009, 01:35 PM

Originally Posted by VolAgent

I hope you don't talk like this to a client. You sound resigned to insurance as a career, like you are just settling because you couldn't find anything better. Before hunting for the best referrals, you might want to rethink if you even want to be in this business.

This statement is not only unfair, it is unrealistic.
Of course you always have the client's best interest at heart, but you need to feed your family and survive.
For me, it has always been a balance what is best for the client and for me. Otherwise, you might as well work for nothing.

Oicu812nbama, very fair and fine question; I hope you find the information for which you are searching. vbmenu_register("postmenu_172790", true);

oicu812nbama · 07-20-2009, 12:49 PM

8% for lifetime sounds pretty sweet. Thats what I was looking for. Gonna see what Obama gets passed before I concentrate on that market though. Sounds like he wants to end private health insurance companies

GonnaFlyNow · 07-20-2009, 02:06 PM

What is the persistnecy of fe policies
Myu ltc lapse rate is less than 1% (not counting those who pass away)

oicu812nbama · 07-21-2009, 10:17 AM

On FE, you have to be very careful. These customers have not saved any money throughout their life and have procrastinated all this time to get life insurance. The persistency on these is still better than young couples buying term insurance. Most of my newby agents averaged 75% on FE products. Mine is 85% on this product because I have the wisdom and self discipline to withold a sale