Life vs Health?
- Thread starter redzalez
- Start date
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Guest
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About 4 years ago I had dinner with author and former Yankee pitcher Jim Bouton. He told me this story.
He said he once yelled across the dugout to Yogi "Hey Yogi, what time is it?"
Yogi looked at him and said "You mean right now?"
-Al
- Staff
- #3
Depending on the life plan and the health plan......term has no renewals unlike health.....I get good money in renewals on health plans sold 2 to 5 years ago....now some of your permanent plans have renewals so I guess your question can be summed up with one word.....renewals......
Depends on how hard you work, and which one makes you more successful.
Some folks (like me) cant sell life insurance. I can take orders, but really cant push the sale.
Others cant (or dont really want to) sell health insurance.
Each sale is different. Life insurance is not about the person buying the insurance but about the ones left behind. More times than not, health insurance is viewed as being for the one who will be paying the premium.
If you are in this strictly for the money, you will not be successful.
Some folks (like me) cant sell life insurance. I can take orders, but really cant push the sale.
Others cant (or dont really want to) sell health insurance.
Each sale is different. Life insurance is not about the person buying the insurance but about the ones left behind. More times than not, health insurance is viewed as being for the one who will be paying the premium.
If you are in this strictly for the money, you will not be successful.
- 14,808
Health:
*No paramed
*No family health history
*1 to 5 days of underwriting
*A product you don't have to "sell" - everyone knows they need it
*Clients see value since they use it
Life:
*Paramed in most cases
*Family health history
*2 weeks to 1 month for underwriting
*Have to "sell" it since most are unfamiliar with life insurance
*Clients don't "use" it so there's no intrinsic value - you must build the value and hope it sticks.
Health insurance also isn't confusing. People have had and used health insurance since birth. It's bascially copay and deductible. Life has a lot of options that even life agents continure to war over. If life agents get into bare knuckle fights over what to sell just imagine being a client. WL? UL? Term? Perm with a term rider? ROP?
Lord...It's all about health.
Oh...and renewals.
*No paramed
*No family health history
*1 to 5 days of underwriting
*A product you don't have to "sell" - everyone knows they need it
*Clients see value since they use it
Life:
*Paramed in most cases
*Family health history
*2 weeks to 1 month for underwriting
*Have to "sell" it since most are unfamiliar with life insurance
*Clients don't "use" it so there's no intrinsic value - you must build the value and hope it sticks.
Health insurance also isn't confusing. People have had and used health insurance since birth. It's bascially copay and deductible. Life has a lot of options that even life agents continure to war over. If life agents get into bare knuckle fights over what to sell just imagine being a client. WL? UL? Term? Perm with a term rider? ROP?
Lord...It's all about health.
Oh...and renewals.
- Staff
- #6
not necessarily....I currently have 3 health clients uping their life policy's from 500 to a mil that I sold them 4 to 5 years ago...I will bank $5,000 on these three applications.......and they are done deals because these are clients that I have had for over 4 years already wrote life on.....don't discount cross selling BUT will have to concur that health is an easier sell over life.....
- 14,808
Lead with health, cross sell life and that's the entire game.
- 10,275
We have a person in the Agency whose sole purpose is to quote term (and sometimes permanent) life insurance rates to our in force book of health and P&C. Years ago, I would do it myself, but I have so little time these days.
Each client gets contacted once per year. Low key.
I don't like giving her 50% of the commission, but then again...she writes 7-9 applications per month for just myself.
Each client gets contacted once per year. Low key.
I don't like giving her 50% of the commission, but then again...she writes 7-9 applications per month for just myself.
- 477
Good post. A person should consider what they like doing and believe in. There are numerous pros and cons to each and each industry has good and bad agents/companies.
- 1,908
I agree.
