Adding Preneed to Book of Business

[combatboots2choos]

I currently work through an IMO with a bunch of carriers and one of my clients asked me for preneed policies for her clients but my IMO doesn't have any. One manager that interviewed me for preneed today told me I'd have to cancel my contract with NGL because they do pre-need too although I'm not allowed to do preneed with them through my IMO so how would you do this? If I cancel that contract, I'd lose the clients I have written with them ( 6 this past week) and overrides on the few agents I have under me. On the other hand, the preneed might end up being more business...........

SO my question is, is it possible for a preneed carrier to still contract you even though you do FE with their competition and not Preneed.

Or should I try to get contracted for preneed directly from NGL even though I do GI with NGL through the IMO......

 

[goillini52]

I currently work through an IMO with a bunch of carriers and one of my clients asked me for preneed policies for her clients but my IMO doesn't have any. One manager that interviewed me for preneed today told me I'd have to cancel my contract with NGL because they do pre-need too although I'm not allowed to do preneed with them through my IMO so how would you do this? If I cancel that contract, I'd lose the clients I have written with them ( 6 this past week) and overrides on the few agents I have under me. On the other hand, the preneed might end up being more business...........

SO my question is, is it possible for a preneed carrier to still contract you even though you do FE with their competition and not Preneed.

Or should I try to get contracted for preneed directly from NGL even though I do GI with NGL through the IMO......

Talk to Newby, he's the pre-need guy.

Insurance Forums - View Profile: Newby

 

[Newby]

I currently work through an IMO with a bunch of carriers and one of my clients asked me for preneed policies for her clients but my IMO doesn't have any. One manager that interviewed me for preneed today told me I'd have to cancel my contract with NGL because they do pre-need too although I'm not allowed to do preneed with them through my IMO so how would you do this? If I cancel that contract, I'd lose the clients I have written with them ( 6 this past week) and overrides on the few agents I have under me. On the other hand, the preneed might end up being more business...........

SO my question is, is it possible for a preneed carrier to still contract you even though you do FE with their competition and not Preneed.

Or should I try to get contracted for preneed directly from NGL even though I do GI with NGL through the IMO......

I'm confused by your question. I'll answer what I think you are asking.

No. There are no restrictions by the industry. You can be appointed with as many PreNeed companies and as many FE companies as you want to.

But with PreNeed the funeral home usually makes the decision on the company they use not a new agent. in order to do business with them they may require that you cancel ALL contracts outside of the one they use.

When you say "one manager" it implies to me that you are either dealing with a corporation like SCI or a third party marketer not directly with a funeral home. If so hang on to your wallet. You are not likely to get a good commission break with those guys.

If you are already doing well with FE then adding PreNeed might just be a huge money losing distraction for you. If you aren't going to actively prospect and market it then you are going to get fed "death bed" business. The people who call in and walk in the door to Preplan at funeral homes are often for a family member on hospice or just found out they have a short time to go. Chargebacks are huge in the first 12-months.

Feel free to call me if you want to talk in detail. The number is on my website.