Reduced Comp with Americo

[VolAgent]

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.

I prefer to follow your actions and not your words.

And I had to refresh my memory of what was said, but I'm pretty much the same.

I've never had that big a problem with SL or LH. As I said previously, I never would have called you out if you hadn't been on that LH bashing bandwagon.

Based on some conversations I have had with several people familiar with but not part of Golden Memorial, they are busy insuring people no one else is talking to. From what I gather, their rates suck, but when you are captive you have to sell your captive company.

 

[John Galt]

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.

Wont happen, the main problem with trying to write CF or even SLAC for that matter on older folks is with their underwriting they probably wont qualify unless they are in really good shape. You know how they drill down You hit the nail on the head with this post and I agree.

 

[gordon112]

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.

Yes, that is more inline with what the product is. The best "Priced" product. I am not sure how American Memorial pays, how good the customer service is, and how often they actually get these policies issued.

 

[Biggin]

I have just now decided that I will NEVER EVER use an A- rated company for the over 80 crowd. They are much too important a demographic to use such an inferior insurance company.


American Memorial AM Best rating: A-
TransAmerica AM Best rating: A+

 

[rousemark]

I have just now decided that I will NEVER EVER use an A- rated company for the over 80 crowd. They are much too important a demographic to use such an inferior insurance company.


American Memorial AM Best rating: A-
TransAmerica AM Best rating: A+

Justification done and done!

 

[John Galt]

I have just now decided that I will NEVER EVER use an A- rated company for the over 80 crowd. They are much too important a demographic to use such an inferior insurance company.


American Memorial AM Best rating: A-
TransAmerica AM Best rating: A+

Are you kin to JD

 

[Newby]

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.

Let's go even further. What if the Acme Insurance company offered it even 25% cheaper but only paid a one time fee to the agent of $15 to sign them up?

What if MOO offered it direct to the public with 1st day coverage but no agent commission at all?

I think the trigger for most agents is a combination of 1. Prices in the ballpark that won't easily be replaced, 2. Underwriting that will accept the applicant and won't take too long to finalize, 3. Pays the agent a living wage that he can live on.

Every agent has to determine what that means for himself.

 

[TDFnCali]

Let's go even further. What if the Acme Insurance company offered it even 25% cheaper but only paid a one time fee to the agent of $15 to sign them up?

What if MOO offered it direct to the public with 1st day coverage but no agent commission at all?

I think the trigger for most agents is a combination of 1. Prices in the ballpark that won't easily be replaced, 2. Underwriting that will accept the applicant and won't take too long to finalize, 3. Pays the agent a living wage that he can live on.

Every agent has to determine what that means for himself.

+1 Agreed!! 20characters

 

[VolAgent]

Let's go even further. What if the Acme Insurance company offered it even 25% cheaper but only paid a one time fee to the agent of $15 to sign them up?

What if MOO offered it direct to the public with 1st day coverage but no agent commission at all?

I think the trigger for most agents is a combination of 1. Prices in the ballpark that won't easily be replaced, 2. Underwriting that will accept the applicant and won't take too long to finalize, 3. Pays the agent a living wage that he can live on.

Every agent has to determine what that means for himself.

I don't market products or lines where I can not be profitable.

But then, I also don't go around beating my chest about how I am morally and ethically superior to someone else because I use companies with a lower premium than their company. When you do that, but then pass on another company with a lower premium and lower commission, you are nothing but a hypocrite.

I have always laughed to myself and privately to others about this forum's constant rant at LH and SL agents about the premiums those companies charge. It seems you many have more in common with them than the realize.

I have said it and I will say it again. I wouldn't have said a word if not for the constant harping at LH and SL agents for selling overpriced insurance.

Remember, those who live in glass houses shouldn't throw stones.

 

[TDFnCali]

I don't market products or lines where I can not be profitable.

But then, I also don't go around beating my chest about how I am morally and ethically superior to someone else because I use companies with a lower premium than their company. When you do that, but then pass on another company with a lower premium and lower commission, you are nothing but a hypocrite.

I have always laughed to myself and privately to others about this forum's constant rant at LH and SL agents about the premiums those companies charge. It seems you many have more in common with them than the realize.

I have said it and I will say it again. I wouldn't have said a word if not for the constant harping at LH and SL agents for selling overpriced insurance.

Remember, those who live in glass houses shouldn't throw stones.

+1 Agree with that as well. I never had a problem with their rates, GDM represents them well, and offers fair contracts it seems. I just said if u offer them, dont act like you dont get replaced a lot or lie about all the other ill wills former LH agents have said that goes on there, esp the FCG thing. It seems they are unethical, very unethical, a lot of them....thats my problem with them, but a high rate is better then no insurance, I believe.