Pacific Life pricing consistency?
Do you have Pacific Life as one of your life insurance offerings for your clients?
If yes, is the pricing the same no matter what wholesaler I get it from for my clients?
I guess another way of asking is, "If a client got a quote for the exact same Pacific Life policy (same assumptions and inputs) from me or from another life insurance agent, would the quoted prices be exactly the same for the client?"
As the old saying goes: You buy life insurance with your health, you pay for it with your checkbook. In a perfect world, the policy would be the same price for your prospect if they bought from you or from another agent. The difference is your experience vs. the other agent.If you don't have a relationship with the underwriter, don't know how to prep your client prior to their physical exam, or are unsure how to quickly get through the underwriting process, and your competition does, chances are your prospect will pay more through you than the other agent.
deekay,Thanks for the insight! Are you able to offer Pacific Life through your firm? If so, how have you and your clients liked Pacific Life's offerings?
I can offer Pac Life, but I choose not to. All things considered, I would rather offer mutual companies for life insurance and LTCi. Disability insurance is a crapshoot.
From what I understand, Pac Life is a Mutual Holding Company. So, it isn’t a pure mutual. Although, IMO it is better than being a stock company.
Thanks. I found this to help refresh my memory of the differences:http://www.glenndaily.com/mhcoverview.htm
I thought Life was like LTC. With LTC, the price for the product is identical whether purchased direct, through a captive agent or otherwise. The price is set through the state and all things equal the price would be identical. Based on the above comments, maybe life insurance is priced differently…I’d suggest you call their main office.
The quoted price would be the same. A 35 year old man getting quoted $500,000 at ultra preferred rates would get the same quote no matter who does the quoting. The issue, though, isn’t about getting the best quotes. It is about getting the best rates. Like Deekay said, a better agent can play an important role in getting the insured the best rates.