dropdead Life Insurance

Apr 14th, 2021

Positive: Professionalism, Quality, Responsiveness, Value
Mar 4th, 2021

Dropdead says they "only charge the customer 5% and other brokers charge 130%". This is misleading and not true. No insurance broker charges a client directly. That 130% is the broker fee paid to the broker by the insurance company not the client. It's like a finders fee which is standard practice and the broker doesn't choose the percentage. Dropdead may "only charge 5%" because they only work with one company, Assumption Life (which in industry language is called "captive"), which doesn't give the client real choice from other companies. I'm sure Dropdead is sincere but it helps to clarify to the client rather than affirm incorrect information to make yourself look good and other insurance brokers bad January 27, 2021 (in response to Dropdead) Thanks for your reply, misleading as it is again. What "savings" are you exactly passing on to the consumer? Can you let people know that you only work with one insurance company, Assumption Life. This means that everyone that coems across you is a 'nail' coz your solution is just a 'hammer'. That 130% you talk about is a "bonus" paid to the broker by the insurance company not the customer. let's define "broker" which is someone who is an intermediary with customers for different life insurance companies based on that clients health and budget. I happen to broker for Assumption Life as wel.. it's interesting you make these high claims yet you don't provide evidence in terms of showing what your quotes are vs others. Whatever you quote for Assumption Life (the company you work for) typically is the same as what I would quote. Why? because it's based om the customers health and smoking status. So really what you are saying is you are offering them a discount even though the insurance company knows that they have a health issue. Which means somewhere along the line the insurance company won't pay what the customer expects because...you guessed it, they sold you a discounted policy. So, if you claim they pay you 1% as though the discount is going to the customer, this doesn't make sense because it's based on your age, health and smoker status Unless you're saying Assumption Life pays you 1% because you are an employee. That means the 99% goes to operations and other costs. Think of it this way. Why do insurance companies use brokers? Why pay someone money for something you can likely do nd cut out the middle man? Because they realized a long time ago that brokers are better at attracting customers and helping them buy insurance. So what's wrong with rewarding them for attracting clients and helping them. Just because you have devalued you worth don't use it to lie about how brokers get paid. Truth is some brokers get paid 130%, some $150% bonus and some 110% based on the experience and relationship with their agency. But here you are using a blanket 130% rate to make yourself look good
Jan 13th, 2021

Positive: Quality
Dec 27th, 2020

I haven't actually bought insurance through Dropdead Life Insurance but find their website and approach informative, intriguing and refreshing. Traditional insurance providers are so conservative and dead-serious (pardon the pun) that it's nice to see it explained a little tongue-in-cheek and in a way that regular mortals can relate to! I like that.
Nov 23rd, 2020