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I don't know anything about this new Combined product or the pricing. But I do know they are spamming the hell out it.
If you want to make more money (let's talk door knocking)
- Thread starter DayTimer
- Start date
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- #12
Middle of the road is making less than 4k a month before charge back, make more money and less hours down at the home depot
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- 19,980
Top of the chain is making bank though.
And that's the only ones you ever hear from.
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- #15
- 6,608
Back before covid there was a guy who was writing crazy amounts of premium, face to face, on his own pen, at least that was the story being told. I think he was out of the Chicago area. I think it was mostly FE. For some reason I think he was a big producer for LBL.
I don't personally know anyone who's written close to $100K a month in FE premium F2F.
What I'd really like to know is are these guys who were writing 50 to 100K/month at the beginning of 2024 did so consistently throughout the year?
I would rather take a beating than to door knock leads in my area. I quit buying leads a few years ago because it was brutal. I get several calls a month from people who know me because I been in the business since 1977. My renewals, my pension and SS is enough for me to live without the stress of chasing leads.
I had to file a DOI complaint against LBL a while back when they dragged this customer through the ringer to surrender her policy, which I was able to destroy on price. They ignored their own surrender form, said they needed to see her DL because the signatures, didn't match. Then they said that was no good, needed an affidavit notarized, all the while they sent it an APL and, at the end, said there was no money left. When I filed that DOI complaint, LBL responded, actually said they had sent the surrender check, despite their previous email saying there was no money left to send. It was so ridiculous. AZ DOI got on them and they paid the next day, full amount as of original surrender request. When I see a company knowingly doing wrong, and only doing right when someone fights them on it, they're dead to me and I proudly carry their surrender forms with me.
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- #18
- 6,608
I used to write a lot of Lifeshield when I was full time FE. They were the best priced at the time and though underwriting was tough, I managed to get a far larger share of relatively healthy folks in my leads, and also because I so much of my business came from door knocking.
My persistency with them is very high, and I get paid almost every day from them still. I have policies with them in years 4 through 9. They were the first company I wrote when I got licensed in July of 2016. Of all the policies I wrote with them, only one is no longer paying.. That was my first and to this date only death claim I've had with them.
The client who died was a very good client of mine. In addition to the FE policies with Lifeshield, he and his wife had annuitiy business with me and each also had a traditional whole life policy I wrote them with Penn Mutual. He was 66 years old and was diagnosed in December of 2023 with stage 4 liver cancer, and he died last April.
Penn Mutual paid the death claim quickly, I'd say it was less than a week from the time the claim form and death certificate were submitted and the widow calling to tell me the money had been deposited in their checking account. She used that money to pay off the mortgage and several large loans that had taken out over the last few years for various home improvements and repairs.
Lifeshield, on the other hand, didn't have claim forms available on line. They would not email me the form, and then it took them three weeks to get the claim forms snail mailed to the client. We filled everything out and overnighted the forms via FedEx.
It took another 45 days before she received a paper check in the mail. The whole time I was calling and told that it was "in the process." The policy at the time of his death was in policy year five, and the death benefit wasfor $30 or $35K, I can't remember which. It was for the max that Lifeshield allowed on the product when I wrote it.
If I ever were to return to FE on a full time basis, Lifeshield will no longer be in my bag. I don't know what happened, but it did seem like NONE of the people with whom I dealt with at Lifeshield when I was actively writing them worked at the company any longer by the time I had that claim.
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I've been writing LBL since 2011. Like you, I don't get many contestable claims. But I've had several with LBL over the years. They've paid every single one of them, including a couple I'm pretty sure most other companies would have rescinded.
Price isn't everything.
If you look into it, let us know what you think.
- Thread starter
- #20
- 6,608
I'm trying to look into it but so far no one I've reached out to has returned replied.
JD says they're pimping it every where but I can't find one anywhere.
And that's why he's the GOAT, and I'm me.
