Lincoln Heritage vs Senior Life - YouTube

the two captive Final expense insurance companies that well we see a lot of

policies from or definitely senior life insurance company in Georgia and Lincoln

heritage and let me tell you these companies both of them have a lot of

agents running around all over the place a week doesn't go by that I don't speak

with an agent that works with at least one of these companies definitely more

lincoln heritage agents than the senior life agents so i do hear a lot of

different things i get a lot of different stories some good some not so

good well about both companies and just to be clear this video is not about

bashing either one of these companies i mean i got no problem with either one of

them they've been both been really good to me

if you know what I'm saying so what I'm simply gonna share with you are a few

subtle differences between the two companies and the differences between

maybe working with one of them you know cuz you're a captive agent whether they

tell you or not that's what you are with them compared to being an independent

agent working with a company like ours United final expense services all of

this and more guys after this

you

I'm Douglas Massi and thank you so much for checking out our channel now if

you're a new agent especially like a new independent agent now Matt doesn't

matter you could be a Lincoln heritage agent you can be with senior life

insurance company either way I highly recommend you check out our playlist

called Fe training 101 it's it's linked right up there so you can always come

back to it after watching this video because the FE training 101 playlist

consists of pretty much every topic that you're gonna want to learn that you're

gonna you're going to need to know as a new agent selling final expense life

insurance if you can give this video a big old thumbs up right now I will

appreciate that and if you haven't subscribed to the channel man what are

you waiting for go ahead and smoosh down on the subscribe button right now we're

putting out new training videos on a weekly basis so you definitely want to

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we put out a new video okay guys now before I start bashing the heck out of

Lincoln heritage and senior life insurance company I'm not gonna do that

just seeing if you're paying attention but I do want to thank you for watching

so if you'll stick it out to the end of the video all the way to the end I'm

going to show you how to get a copy of the cancellation letter that I use when

replacing a policy Senior Life and Lincoln Harwich do get a lot of these

from our agents but the cool thing about it is all you have to do is basically

it's already typed out for you so you just write down the clients information

on it get them to sign and date it and what you can do is fax or may I would

even say do both fax it in and mail this into the company you know the carrier

that's being replaced after you've gotten the client approved for the new

policy and have actually helped your new client to stop the bank draft

on the old replace policy because you do want to make sure that they stopped the

bank draft before you do anything let's talk about all the positive stuff first

off both Lincoln heritage and senior life insurance company have multiple

lead options which is really important that's that's great as having lots of

fresh leads is super duper important for your success remember guys our industry

its lead room every six-figure earner that I've ever worked with or even met

works fresh brand-spanking-new final expense leads every single week second

both of these companies have very good face-to-face training as a matter of

fact one of the things that I actually suggest to recently licensed agents that

are like brand spanking new and have no experience is that if you want to get

into final expense life insurance sales these companies are both great places to

start because of that face-to-face training in most cases they they both do

like a bootcamp like a monthly or a regular boot camp where you can actually

go there and learn pretty much everything you need to know to be

successful at selling final expense life insurance third both senior life and

Lincoln heritage have lead financing options which is really good if you

don't have any money for leads or if you're just not willing to you know do

what it takes to come up with the cash to pay for the leads upfront so they

give you the leads you go out and sell and then they'll take the payment for

the leads you know the cost of leads from your commissions and forth with

both of the carriers the underwriting is really easy and both of these products

are pretty darn simple the phone interview is short the e apps are easy

to use there's no long applications you know they're like a couple of pages you

get to know before you go if the client is approved as applied for so in other

words you know once you sit down you make yourself you're gonna know before

you leave the house if they're approved and you'll have everything set up

truth is one I look at all this positive stuff about

both of these companies I gotta say these are great places to start in other

words if you know if you're a newly licensed agent that needs training and

maybe you don't have money for leads you can go to either one of these guys just

make sure that and this is the this is the big tip make sure there's a local

agent that you can ride with and learn from that's the whole key of working

with one of these companies and whatever you do make sure you don't get into debt

in other words just because you're not paying upfront for leads doesn't mean

you shouldn't start the business half you know 100% in other words you know

they're gonna front you the leads so if you kind of slack and you don't put your

heart into it and you fail you're gonna end up in debt you can end up and it

could ruin your entire career because what could end up happening is you get

what we call a vector which basically it's a way an insurance company lets all

the other insurance companies know that you're a deadbeat and if that happens

it's gonna be hard to get you contracted with another carrier or pretty much what

happens is you know people are gonna ask you hey do you have any vectors do you

have any debt if you say yeah I have a little bit of debt that tells me that

you've got issues and maybe I don't want to work with you which look it's really

not that big of a deal you just got to pay off your debt because these

companies have their own products you can always walk away and go to an

insurance agency that could probably give you better priced products for your

clients and maybe even pay you higher commissions which is important because

you don't have to get them to sign off on a release which is a nightmare

to deal with you know because what will happen is you'll get you'll start with

an agency that'll put you with a bunch of different carriers and you'll have

issues and then they're not going to release you from those carriers those

appointments until you take care of your issues so with these two companies

Lincoln heritage senior life you can always just walk away because they have

their own products you don't need to worry about the release look with both

companies there products are in my opinion way

overpriced okay let me let me just rephrase that

they are ridiculously expensive for the clients which is great for us because

we're replacing those lincoln heritage and senior life policies all the time

and that's why when i tell you they've been good to me believe me both of those

companies have been very good to me with lincoln depending on the agency you're

dealing with and you know the location of course always depends on the location

you could end up with some of the lowest commissions in the industry i mean like

really on cool commission levels quick story about seven years ago i went to

their Davie Florida office this is when we first were getting in a final expense

the Davie Lincoln heritage manager offered me fifty five percent first year

Commission the crazy part when she insulted me with that 55 percent first

year Commission level offer to start off with I had just showed her proof that I

had already been a top producer at mortgage protection life insurance sales

just the year before so she knew I was a closer she knew I knew how to sell life

insurance dude if you're getting paid fifty five percent commission they

better be giving you leads not charging you for leads no no no forget that if

they're giving you 55% Commission they better be going to the clients house and

closing the sale for you honestly as far as I'm concerned fifty five percent is

criminal if you're actually paying for your leads that is because it's like

it's kind of like how do I say this it's like getting you know if minimum wage

that's how we start our agents at a hundred percent if that's minimum wage

and they're starting you in half of that dude now I have spoken with senior life

agents that actually had pretty decent contracts around 90 to 100 percent and

with access to quality file expense TV leads but mo

of these agents in most agents I spoke with with that company or at

Commission's under a hundred especially if they're on you know the final expense

direct mail leads or their television leads program but I also know that they

do have a very good telesales system for agents that prefer selling over the

phone instead of face to face which is something I'm not gonna get into that

now let's say you've been selling final expense through one of these companies

for a couple of months you got the basics down you're actually well pretty

good you know not bad and most important you're okay with doing it you know

you're okay with the business a lot of agents that get into final expense sales

end up realizing that this is totally not the business for them you can always

walk away and come learn how to be an independent agent with the company like

ours why would you want to make that transition first of all as an

independent life insurance agent you're gonna have access to better price

products for your clients and with more products you'll be able to give more

people first-day coverage very important and in many cases you're gonna get much

higher commissions as an independent agent versus being a captive agent one

of the things that an experienced independent agent can do is usually find

a really good price product based on the client's health actually not a good one

but usually them often the best price product based on the clients you know

the health for that client which makes it really difficult to replace the

policy I mean our clients you usually don't have much money to live off so

price can be very very very important it's usually what comes first with these

folks I have never had a link in heritage or Senior Life agent come

behind me and give my client a better price life insurance policy it's never

happened it's not going to happen I'm pretty sure that none of the agents on

our sales team have ever been replaced by these companies either at least not

because of price again commissions are usually higher as an independent - I

know we start our new agents with a minimum of 100 percent first year

commissions on you know with the primary carriers agents that come to me and show

me production you know that that have already been successful at selling final

expense and can prove it we often will do 115 to 120 percent in some cases even

higher even much higher if you've got an agency I'm gonna end this video with

this both companies do have a pretty good writers you know they come with the

policy I know Lincoln heritage has an excellent accidental death and

dismemberment writer which you know they teach their agents to use as a selling

point and they both have a funeral assistant type of planning thingy that

comes with the policy so when the client dies the beneficiary can just call an

800 number and the person at the end of the line will actually tell them where

they can get deals on caskets and other cost related stuff to dealing with the

deceased family member which is nice and it can be a good selling point to you

know unfortunately I see agents using those products

well incorrectly in other words they're exaggerating how much help they're gonna

be getting you know the beneficiary will get when the the prospect dies for a

copy of the cancellation letter that I've mentioned earlier in the video or

if you'd like to know what it's like and what it takes to be a producer on our

final expense sales team you can just shoot me an email at Doug at you FES

online.com as always guys when you put the needs of your clients first

everything else will usually fall right into place get on out there and do

something good for someone today happy hunting

you