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At what cost do you sell your clients out? Not at $48 more per month, how's about 20? Is that what you are willing for them to overpay to increase your commission? Maybe it's $10. Please give a specific amount.
Reduced Comp with Americo
- Thread starter dcd3funeral
- Start date
At what cost do you sell your clients out? Not at $48 more per month, how's about 20? Is that what you are willing for them to overpay to increase your commission? Maybe it's $10. Please give a specific amount.
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Yes, we have one in our town that has been (hypothetically) been selling annuities to 80+ year olds but changing a few dates of birth to help them get through underwriting.
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My best guest is you saw this topic and skipped to the last response or you would not have posted what you did...
For me being an independent agent meansgetting the BEST coverage for my clients when it is in my power to do so. Thatis why I pick up so many different companies. American Memorial is with me whenI need it. (Usually 80+ but their 1 year look back on cancer is a plus aswell) Just the same with Monumental and every other company with me. There is atime and a place for each and every other company.
That is why I became an independent agent. So I have the BEST options for myclients. I left my job representing one company because I did not want to justpresent 1 company and pigeon hole my client into that company.
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Gosh, all this time I thought independent agents represented multiple companies so they could always give their client the best priced plan based on age and health.
Now I'm finding the real reason to represent multiple companies is not to give the best priced plan to the proposed insured based on age and health; it's too find the company that pays the highest comm. based on the proposed insured's age and health.
Who would have thought that?
Now I'm finding the real reason to represent multiple companies is not to give the best priced plan to the proposed insured based on age and health; it's too find the company that pays the highest comm. based on the proposed insured's age and health.
Who would have thought that?
Gosh, all this time I thought independent agents represented multiple companies so they could always give their client the best priced plan based on age and health.
Now I'm finding the real reason to represent multiple companies is not to give the best priced plan to the proposed insured based on age and health; it's too find the company that pays the highest comm. based on the proposed insured's age and health.
Who would have thought that?
Come on Greg, this is a little different thing from always offering over-priced policies. I know you want to pounce on this because you've been pounced on in the past, but there is a fine line here.
In other words, not offering American Memorial because of comp is one thing, and always offering only one company that is over-priced is another. Two different things here.
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Got to wonder how much the trips influence who is the best company.
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Not at all. I'm pointing out the fact that some, not all, independent agents brag how they represent multiple companies so they can always give the client the cheapest price. Now a few independents are openly admitting they will not give the cheapest price if they take a big haircut on comm. What happened to the independent's slogan "give the cheapest premium, do what's right for the customer, and not worry about your comm.?"
I've not seen too many things in my life where there wasn't an exception to the rule. While independent agents do have choices, sometime the choices have to be about them and the client as well. Agents do have to make a living too.
I don't think we should be working for free, but I also don't think an agent should always be offering a higher priced company either. I've got nothing against you, LH agents, or any other agent for that matter, but this isn't a thread that a one-company agent should be trying to justify themselves on. That's just my opinion.
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As a newbie, I may have fallen into that camp, but as I have grown in this business, and have seen all the different aspects that add value and take away value to the sale of a life insurance product, I am of the firm conviction that while price DOES matter, it is not the end-all be-all.
Who you are as the agent and how you sell yourself to your prospect is just as important as offering a competitive price.
As I've made clear for myself, it is situational and subjective to a point, as evidenced that I won't write American Memorial on a 81+ case due to its prohibitively low commission rate.
That's why I called out Vol in trying to label me in the "LH Basher Bandwagon" crew -- that PM exchange was 15 months ago when he, like this time, incorrectly categorized me with the wholesale LH bashers you see ripping into the company on every LH thread. The point was to show I am part of no wholesale LH bandwagon bashing crew presently and haven't been since December 2012.
While I criticize LH more for its business practices and agent recruitment model, I particularly appreciate them being in business, evangelizing life insurance non-believers so when I meet them, I have the opportunity to improve their life insurance situation.
I gotta say I'm with VolAgent on this one. If you are 81-85 and still need to buy life insurance the last thing you need is an overpriced policy. To me it's no different than selling Kemper to someone 50-80 that needs GI, no reason in the world other than comp, but at what price?
For most agents it's such a small part of their business anyway, why not let them have AmMem and move on. On the bright side they didn't decrease the renewals.
For most agents it's such a small part of their business anyway, why not let them have AmMem and move on. On the bright side they didn't decrease the renewals.
