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LW:
You made a statement earlier that PFS lapses 90% of their policies. Are you exaggerating to make a point or do you have LIMRA or BEST data you can provide for documentation.
I would expect them to have a rate higher than norm due to several factors which must be considered. (1) They are a predominantly part-time sales force (2) They sell term insurance only and (3) They work a middle to lower-middle income market.
Im very interested in your source of statistics.