Assurance/Lumico Experience?

[jerryrut]

As an update to my above post: recently the co. has made a concerted effort to reduce the outbound calls to zero. (I hope this change sticks)
This makes the position much more palatable.

They've changed their dialer system to something less buggy and also made the change to having "guides" transfer the cold calls into you, so the calls are "warm" by the time you are speaking with the prospect.

There are a lot of people making very good money on the platform, but again, at 20% you are left with the feeling that you are walking away from a lot of potential commission. Conversely, you must also think "would I even be talking to this customer without Assurance being involved?" Answer is "no". So now you must compare your 20% with 0%.

If you could fund yourself with your own leads and application system certainly you could do better. For someone new to the industry like myself it's good training wheels to build some confidence and competence. If you don't want to buy leads, drive to appts, knock on doors, and deal with the frustrations of no-shows, than it fits the bill nicely.
I really have zero bad to say about the company, the leadership, and the opportunity. It is what it is. It's not a permanent home, but it's very good temporary shelter.

They're only making at least $1,500 per day off of you, nice gig they got

 

[Insurance1Agent]

I'm an experience agent and being straight forward with you - just a warning, DON'T work for Assurance (Lumico Life) The clientele they market to is absolutely BROKE...you can write a decent amount of policies, however, cancellation rates are like 25%-40%! (NOT a typo) majority of their clientele are good people, just broker, paycheck to paycheck and cant afford to pay their premiums.

Assurance is NOT a good company to work for multiple reasons. They also "lie" and tell ALL their clients..."looks like you qualify for a company called Lumico Life Insurance" - they ONLY offer 1 life insurance company to their clients- this is NOT good for any client to have only 1 option. The pay is also like 25% overall and NO residuals!!!!

Their AD&D side should be investigated by the dept of insurance!!! They tell every single client that's disabled that they DON'T QUALIFY FOR LIFE INSURANCE, they only qualify for their AD&D policies.....this IS CRIMINAL!!!! (some of these people can absolutely qualify for a life policy)

 

[cehinton]

I just looked today, and it seems that 5 out of the last 6 policies I wrote are canceled.. I am beginning to lose any enthusiasm I initially had about this opportunity. I am now starting to put the pieces together to branch out on my own and make a lot more commission.

 

[jerryrut]

I got a recruiting email from them today: highest commissions, free leads, office expenses paid, health insurance, 401k, team building, does it get any better than this

 

[Insurance1Agent]

I got a recruiting email from them today: highest commissions, free leads, office expenses paid, health insurance, 401k, team building, does it get any better than this

"HIGHEST COMMISSIONS"???? NOT!!!!! - they pay like 25%!!! (That SUCKS) Here's an example: Sell a $100 monthly premium policy ($1,200 yearly premium) and you get 275% to start of the FIRST MONTHS PREMIUM ONLY ($275 TOTAL PAY)

Even if you were at a low paying company - like 60% you'd get paid $720. They are a JOKE

 

[Insurance1Agent]

I have been with Assurance about two months. In my brief experience I feel this can be an extremely lucrative opportunity. Inbound and transferred calls are pretty much non-stop once you get past Tier 4. There are 6 calling tiers and if you are half way good at following their scripts it takes about a month to get to Tier 3. Once there, you should be writing enough apps to make $50k plus. You have to spend 25 to 30 hours per week on the system to make that. Pretty good pay for a part time job in my book.

Start-up. They are very forthcoming on what is expected. I knew about the 20 Mpbs download/ 10Mpbs Upload in the first conversation I had with them so not sure how the other poster missed that. You have to sit through a week of pretty boring web based training that explains how things work and do some online training prior to that. In the middle of the training week they give you access to the system and you can start making money from then on.

Leads; Strongly disagree with 99% being bad calls. You get the occasional *** that went online, filled out a profile, and now wonders why someone is calling them. DUH. If I fill out something online I can pretty much be assured that someone and probably several companies are going to call me. Most people are friendly and ready to get a proposal. If not, your done and on to the next call. It's a calling center type job, people. It is what it is. I usually talk to about 25 to 30 people a day and I am now averaging about two apps per day. That relates to about $250 commission per 6 hour day . I am still learning. Others are doing better. Do the math. I am good at what I do but definitely not the best. You just have to take the calls and sell the ones you can.

Support.: Great communication with my team leader Ron. Absolutely one of the best managers I have ever worked with. Very knowledgeable, skilled, and supportive. Accessible by text, phone, email. Usually get a response in no more than a few minutes.

This is a very viable, work from home job that you can make a lot of money at putting in part time hours. You can jump in from 8 AM EST to 9 PM PST and always have someone to talk to. Perfect for a retired person like myself to make extra money and still have time to do other stuff.

Good Luck in whatever you decide to do.

Larry- you are FULL OF SHIT!!!

 

[garzawin]

i guess those of you that gripe about the commissions...100% of 0...is zero!

 

[Patrick Gregory]

I've been with Assurance for a little over 3 weeks. And here is my experience with them. First, I wanted to find a company that would give me the opportunity to work from home, not cold call or pay for leads! Awarded all three with Assurance. The only out of pocket investment I made was to pay the fee to be licensed in 10 other states( a little over $400). I receive inbound calls from clients in CA, TX, OH, MD, SC, SD, MI, NM, AR, & IA. Yes, all Assurance agents are licensed to do business in 10-30 states, 10 is the required number and if you want to do more states it's up to you. They do this to help Assurance agents make more money, plain and simple., Insurance agents selling in one state are limited to the amount of clients they can do business with, where Assurance agents can do business in multiple states increasing the opportunity to sale more policies. So the investment is a way to show the company how serious you are. So Assurance may not be for everyone.

We don't sell AD&D, we have an accidental death that clients may be able to qualify for if they are declined from our Term, WL, FE or SIFE. Also, if a client wants to add Accidental Death to their rate, it could increase the face amount of the policy only if the insured dies in an accident only. No dismemberment! ex: The face amount of the policy is $100K and the accidental death is $50K..If the insured dies by accident during the term period, the beneficiary will receive $150K. We also have at no extra cost to the client a living benefit in our term and WL products.

Our commission..best Ive seen. You start with 220% submitted policy, you get 15 in a week you rise to 275% and goes up to potential 425% submitted policy. My first policy I wrote was a Term policy for $41.62, I made $91.56 in commission, also a commission of $354 from a $161 submitted policy. Commission payments are paid every Friday, sometimes instantly upon premium paid, and we also get $20 dollars for transfers, they are paid out immediately.

Assurance does not choose its clients. They choose Assurance. We cold call no one, all inbound calls and we don't purchase leads. That's why we receive such good commission %. Renewals no we don't have. But all agents understand why. Just look at the commission % and that should explain it.

I believe working with one A rated company with A.M. Best and has a A+ rating with the BBB is enough said.

Yes, ppl will cancel, or credit/debit cards will decline, that's the nature of the business. I've only had one cancel and two cc declines so far, and that's with over 40 policies submitted.

I'm really annoyed with the accusation that we prey on ppl who can't afford our coverage. If clients can't afford our rates we refer them to companies who may be able to help them, companies like Mutual of Omaha, Colonial Penn or Bankers Life. We are honest and truthful when explaining to clients that their rate will be determined by their age, medical history and life style, they make the decision if the rate is affordable or not. Also, if we can not help a client who is classified as disabled, again we are instructed to transfer them to a company who can help them.

Assurance is a good, honorable company who truly wants to sell value and not price. Its a shame when someone comes on here and knows absolutely nothing of what he is talking about, and turn people away from a great opportunity to help families and earn a pretty decent income in the process. But once again, just look to the A+ with the BBB and the A-rating Lumico has with A.M. Best

 

[Todd King]

Our commission..best Ive seen. You start with 220% submitted policy, you get 15 in a week you rise to 275% and goes up to potential 425% submitted policy. My first policy I wrote was a Term policy for $41.62, I made $91.56 in commission, also a commission of $354 from a $161 submitted policy. Commission payments are paid every Friday, sometimes instantly upon premium paid, and we also get $20 dollars for transfers, they are paid out immediately.

Those percentages show that they are playing mind tricks on you. The "41.62" is actually $499.44 in annual premium. You are actually making somewhere around 20%, not 220%! That's terrible!

 

[garzawin]

Actually it's not a % of the annualized it's a % of the monthly premium. So no mind tricks. I can see where you're confused though. It's a new concept. However, 100% profit with zero investment now that's pure capitalism at its finest my friend.