Senior Life Insurance Company

[TDinsgrp]

Yes. I currently work for them. First, every group with them runs their program differently. So I can only speak to mine. We have full time agents and then others that sell when they want. The contract levels are different and no, you do not have to take leads. Me personally, I could less if one does or doesn't. But those who want the training and the ongoing support and help, are going to be on the lead program and sell consistently with us week in, week out. But some agents/groups pick us up just for the ease of our product. No phone interview, no APS, no MIB and no scriptcheck. Placement rate is in the 90's.

The lead cost varies depending on the type of lead you want. TV, typical direct mail, yellow page ads, newspaper &magazine ads. But, you take the good with the bad? You can purchase your own leads and/or find a little cheaper but you pay upfront or a week after you get them with some groups? Or, with us, we do commission deduction. We found that way takes the pressure off of you which means more sales.

Good luck!

 

[TPAAgent]

Why does everybody at Senior Life dress like they're going to a funeral?

That suit and tie, personalized pen is so 80's

 

[theinsuranceman]

Why does everybody at Senior Life dress like they're going to a funeral?

That suit and tie, personalized pen is so 80's

Nobody dresses that way at the home office. When was the last time you were there?

 

[Hopwood04]

Google what a Funeral Trust is and then Google Medicaid recapture act. Settlers life sells their policies in a Funeral Trust. After you do your Googling answer this question. Why would you sell a product that is not issued in a Funeral Trust? When you talk to a client and they have insurance already explain to them the Medicaid recapture act and ask them if they would like to keep the policy they have or buy a policy that is guaranteed to be there when they die.

 

[Timbo Slice]

it wasn't getting stinky until your post.

Anyone that sells Senior Life or LH to me is taking advantage of people. Their policies suck so bad it is unbelieveable.

I saw someone the other day who had a "first to die" policy written by Sr Life, which listed both spouses but only paid a death claim ONCE. The premium on the policy was higher than what would cost to insure each separately with any company. So, if one of them dies 5 yrs from now, now the survivor has no insurance, and has to pay the rate for their higher age.

I'm sorry but anyone who sells policies like this in my opinion is taking advantage of seniors, plain and simple. They are CROOKED. So no I do not care what anyone's opinion is who sells this kind of crap.

Would you be so kind to enlighten me on the age, health, premiums, programs and companies you used to derive this equation from? Typically when an assumption is made there are facts to support the claim. Thanks

 

[jdeasy]

Google what a Funeral Trust is and then Google Medicaid recapture act. Settlers life sells their policies in a Funeral Trust. After you do your Googling answer this question. Why would you sell a product that is not issued in a Funeral Trust? When you talk to a client and they have insurance already explain to them the Medicaid recapture act and ask them if they would like to keep the policy they have or buy a policy that is guaranteed to be there when they die.

You are overstaing that little tidbit and oversimplifying it as well.

It's an option with Settlers and must be an irrevocable trust. Monumental also has that option here in Ky.

Also, medicaid does not take the death benefit when a medicaid person dies. Just the portion over the cost of the funeral that goes to the estate can medcaid make a claim to.

It's not as simple as I described here either, but you are intentionally muddying the waters.

It seems you are doing it in order to recruit. Also, Settlers will not do replacements here in Ky, so they certainly are not a good fit here. They are a good company and they have their niche. They are not the be all and end all that you are trying to make them out to be.

 

[7smitty14]

senior life in general is a crooked company if you ask me and that is why lincoln heritage has cut ties with them. if you dont believe me call lincoln and ask them . i have heard it right from the horses mouth jack london. they dont pay claims, they have been reported to the bbb more times than bill clinton cheated on hillary. lawsuits against them for not paying claims. leads suck.

i left them and got on with lincoln heritage through another agency/ i get the green tv leads when i want them and all i want with no problem. No longer do i have to be lied to at senior life telling me they dont have them anymore only to walk by peoples desk that kiss someones ass sitting there calling all the green they want. for 2 years i worked at senior life and i was in the top 10 every single month just about in production , I wrote senior too, not lincoln. They used to bring me out test leads i was so good. I worked bius, act nows, heritage plus. tvs, direct mail, you name it i worked it and i sold off all. i just did not like the fact that i ws paying for my own leads , yet i had no say in what or how many i got. And that **** about being an independent agent, you can throw that out the window, bc that is aas far as the east is from the west. They tell you on their website you are your own boss and can work your own hours, well that is not the case in the thomasville ga office. And when you leave you had better get your apps before they do i had over 400 apps i wrote that they did not let me have . my persistency was around 75% also. They cd not buy me back to work for them. Crooks run it as far as i am concerned and if you dont buy into their way of doin business thet will start giving you the crappiest leads they can find to force you out. They also about twice a year empty out inventory, this means they stop giving out the decent leads and make people take all the biu toilet paper leads at full price for about 2 or 3 weeks. sad excuse for a company.

i write 8 -10 k a month now working 3 -4 days a week when i want to and damn well please. no one is goin to tell me what to do. i am my own damn boss and if senior life wd have left me alone, i would have continued to write 10-15 k a month for them, but they started trying to control what time i worked and everything else. i also knew to much about how they do things and they wanted me gone. glad it worked out the way it did

 

[seminole123]

Oh please - "anyone could call in and cancel the policy"... that argument is so weak. Senior Life certainly allows the customer to BEGIN autodraft over the phone. I worked on the phones over there. Every customer is asked to verify their identity with different pieces of info so that argument does not work.

Senior Life WILL accept a written statement cancelling the autodraft, how does that prove their identity???? Anybody could fax that in.

Instead of building that palace (which still sits vacant), how about lowering rates??

Thank you for helping me enlighten Newby. Newby, did you google the definition of "field underwriter"? Anyone who googles this definition will see you are wrong on this one. You're not usually wrong but this time you are.
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3 way call is fine...my number is 252-292-3350. But google the definition of "field underwriter" so we don't waste time with this trivial issue.
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They, as well as probably most any other Co., will request cancellation in writing. Otherwise, any one could call in and cancel someone else's policy if they had the policy #, etc. Think of the liability and mess that would cause if that happened.

Concerning auto bank draft...same reasoning. Anyone could call in and stop the draft on anyone else's policy, what a messy situation that would be. Besides, a customer could call their bank and stop the draft themself.

I think the other FE Co.'s only refund "cash value" if requested in writing. The recording that the agent does with the client specifically mentions the cash value would be used to keep paying the premiums till the CV is depleted, and the client agrees with this on the recording.

You say the customers are quite often old and somewhat in bad health. That's the FE market!

Surely you know that things need to be in writing to hold up in a court of law.


Yes, the new Corp. Office does look like something in Vegas. Not many privately held Co.'s could obtain this type of financing without solid financials.

Yes, I'm defending Sr Life. Call it drinking kool-aid or whatever. The opportunity is not for everyone, which is true for ALL FE Co.'s and also ALL lines of insurance.

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My point on the cash value is this...Senior Life will NOT let the customer know the policy has cash value. If the customer faxes in their policy cancellation (again, cannot cancel it over the phone because a fax is much more secure-RIGHT!) and the customer does not ask for the cash value, Senior Life does not mention it. How about some integrity??? How about "yes sir, we will cancel your policy as requested...were you aware your policy has accumulated 400.00 cash value". Sorry, not how Sr Life does it.

Oh please - "anyone could call in and cancel the policy"... that argument is so weak. Senior Life certainly allows the customer to BEGIN autodraft over the phone. I worked on the phones over there. Every customer is asked to verify their identity with different pieces of info so that argument does not work.

Senior Life WILL accept a written statement cancelling the autodraft, how does that prove their identity???? Anybody could fax that in.

Instead of building that palace (which still sits vacant), how about lowering rates??

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Oh yes they certainly do...some of them men even wear bow ties.

White or blue shirt with a plain tie...and yes, I spent months there

Nobody dresses that way at the home office. When was the last time you were there?

 

[jacobtn]

Would you be so kind to enlighten me on the age, health, premiums, programs and companies you used to derive this equation from? Typically when an assumption is made there are facts to support the claim. Thanks

Nice 1st post. Typically one makes sense when asking questions, you however do not.

Did you read the the title of the thread before you put down the crack pipe and logged on? You could answer your own question (or at least part of it, most of it made no sense).

Senior Life and Lincoln Heritage are both extremely crooked. Sr Life is just a little bit more dirty, but not by much.

 

[arnguy]

Aw, come on jacobtn, I thought that was an awsome first post!