- 6,134
No I'm asking in general. It's way cheaper than the other companies.
Reduced Comp with Americo
- Thread starter dcd3funeral
- Start date
No I'm asking in general. It's way cheaper than the other companies.
- 5,325
If you're going to quote the exact premium difference, why don't you quote the exact comp difference, so everyone knows how bad American Memorial buzz-saws your comp?
Added, I have loosened up over the years on the whole low-price bit is the only way mentality; I'm ALL for writing competitively-priced products, but not necessarily the lowest price products.
With certain situations, I draw the line, like the 80+ crowd.
- 15,041
I've always said they kill you. It is roughly 1/3rd of your regular commission with them. If you are on a 110% contract, it is 40% on 81+. They also cut you on ages 70-80.
But that is real money we are talking about. 300+ a year is nothing to sneeze at. That is more death benefit, more grocery money or more money to spend on the grandkids.
The only difference between a LH agent and an agent selling TA over AmMem is the LH agent doesn't know any better.
- 6,134
Not trying to add salt to the wound, but what if you went to a client that had TA for 125 per month. Would you replace them with Am Mem to beat the price?
- 26,978
A lot of FE agents will jump all over a replacement for a $5. difference.
- 5,325
Hell yes I would!
This is a dog-eat-dog world, fellas.
If I am looking at either (a) walking out the door with nothing, or (b) walking out the door with 40% (thanks for sharing that God-awful STREET comp with us, Vol), then I'm going to do my duty and show them AmMem to (a) save them money, and (b) make me money.
If you replaced my TA deal with AmMem, I would shake your hand and congratulate you on a job well done.
There's nothing to equivocate about here, guys -- I've made the personal decision that I'm not going to offer as a first-choice product a carrier that wants to buzz saw your comp as heavily as American Memorial. Yes, I understand the risk that I will be replaced, but I'm willing to take that risk.
If you want to lead with American Memorial? Go right ahead; I don't have any objection to that at all. For MYSELF? I ain't taken that serious of a haircut.
As far as what amounts to expensive or inexpensive, it's all subjective to the situation -- as soon you start writing Christian Fidelity exclusively along with American Memorial at older ages, I will start to take you seriously.
- 6,134
I've ran into LH policies before that I replaced, but they were only 10 dollars or so more than what I offered. But some independent agents will write a policy that's 25 more a month because of comp. Pretty much the same as what LH does correct? This topic has always had me curious is why I'm asking. I could understand writing a higher comp company for only 1-2 dollars different. But 25 to 35?
- 15,041
I'm not the one that always harped about LH or SL. You were on that bandwagon, not me.
The best product for the client here is American Memorial. They are simply the lowest by a good margin over everybody else. Having said that, TA rates aren't really out of the ballpark, they are more inline with everybody else. That means more then likely you will not be replaced, but it comes down to what your time is worth and what your client deserves.
- 5,325
Really?
Why don't you:
A) Re-read my post above regarding coming off the LH/SL high-price bandwagon, and,
B) Re-read our PM exchange regarding LH back in December 2012 discussing Adam Hale.
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Right. That's my perspective.
If you (the Royal You) don't share that, that's fine, too.
Within reason, you got to figure out what's right for you.
I would quantify what you said further by stating "best priced product." Not to mince words, but "Best Product" is more subjective than anything.
