Mortgage Protection

[STIBROKER]

Not if they added ROP did they drop it.

so how much prem. do you think they will get back after dropping the policy after 6mo's......

 

[DarrylVK]

I have worked with a mortgage protection agency the past 2 years and after you learn the system, it is great business. I call the lead and explain what most MP insurance really is, then I offer level term from the most competive. We have competitive commissions and no hype, they just want your business.
The problem currently is that mortgages are way down and leads are slow.
Give you an example of a lead I received last August. Lead had a 600,000 mortgage and wanted to insure him and his wife. I suggested Genworth and ended up selling a combined premium of 8000. In addition, I wrote LTC (2000 commission) and health insurance (1200). The client is a physician and he loves me. Be honest , insure the mortgage with quality companies, rewrite his other life because it isn't competitive. Not all cases are like this, but once you understand the system, and get over the cold call monster, it is great.

You mentioned working with a Mortgage Protection Agency. Who do you use?


P.S. I am newly licensed in Florida. Going to work in Senior Market for Medicare & thought Mortgage protection looked interesting for diversifying.

 

[Rick C]

You mentioned working with a Mortgage Protection Agency. Who do you use?


P.S. I am newly licensed in Florida. Going to work in Senior Market for Medicare & thought Mortgage protection looked interesting for diversifying.

Some might disagree, but I think it's a great idea to diversify-especially when one lead source dries up.

 

[nka245]

I have two more posts to make before I can post the link to the reason why no one should ever consider joining the big monster... this place makes you have 10 posts before you can post a link and I lost my old login so bear with me folks. I am posting it shortly

 

[mrking1980]

Did you ever get a chance to post that link? I am very interested in hearing how MP is working for you now. I am looking at going onboard with a brokerage that does primarily MP through Americo. It seems like a very good set up. They provide 15-35 leads per week to their agents and only have 4 onboard locally. I am a new agent and would like to know how others that are selling MP are doing now. Please help!! Please reply.........

 

[Slim]

Did you ever get a chance to post that link? I am very interested in hearing how MP is working for you now. I am looking at going onboard with a brokerage that does primarily MP through Americo. It seems like a very good set up. They provide 15-35 leads per week to their agents and only have 4 onboard locally. I am a new agent and would like to know how others that are selling MP are doing now. Please help!! Please reply.........

You will be lucky if you get the leads as promised. You must be in a large area.? 4 agents onboard to supply that number of leads ? I assume you get them free and take less commission? You will likely need a lot of leads to do well. You may find some other problem besides leads not delivered as promised. Good luck.

I work it some but have had to use other avenues as well.

If you are new you may need to work with an established organization which offers training . And a base to live on. It's tough relying on the word of a recruiter even if you have a nice bank-roll to subsidize your own learning curve.

 

[nka245]

Yes, I posted it in the NAA post... I suggest anyone looking into joining NAA read that post before making a decision.