AGLA Vs ANICO

Apr 25, 2015

  1. rousemark
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    rousemark Still Here!

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    Probably is... I really think it was closer to 30 but I didn't want to be accused of exaggerating..
     
  2. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    That sounds more like an annuity app. :yes:
     
  3. Tahoe Ray
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    Tahoe Ray Guru

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    If you include disclosures, buyer's guides, and all of the other deliverables (which, granted, don't require you to do anything), some are upwards of 100 pages now.
     
  4. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    Damn. I haven't written any in a couple of years. I'm sure that you make more per page on an annuity app(most of the time). :laugh:
     
  5. Tahoe Ray
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    It's indexed products (and only a few carriers) that are that long but you can still write MYGAs and SPIAs without using all of your printer ink in one shot so your point is well taken.
     
  6. pfg1
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    pfg1 Guru

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    Honestly, I couldn't say. I pretty much only do e-apps with most companies now. Their e-app process is simple, not really any different than any other carrier from what I've seen.
     
    pfg1, May 8, 2019
    #26
  7. pfg1
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    AGLA is actually called AIG Partners Group now.
    AGLA is the old name, same company. They have the Quality of Life (QOL) line of products with living benefits, regular AIG doesn't offer it. AIG and AIG Partners both offer indy contracts - I have no clue about their captive setup at all.
     
    pfg1, May 19, 2019
    #27
  8. rousemark
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    rousemark Still Here!

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    Don't beleive they have a captive side since they closed all thier district offices and terminated all the agents.
     
  9. shonceman
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    They have a “slightly” captive side, if I understand how it works. My former AGLA district manager is still an employee, but working from home. All the policies in his district (maybe an even larger area) are now his book of business to work. Apparently they kept just a handful of people like him to service the existing policies.
     
  10. wfs
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    wfs Guru

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    The AIG/AGLA 20% production bonus is only through Partner's Group and their QoL products, not the regular ALGA brokerage channel. I personally have written a lot of AIG QoL business, qualified for their QoL bonus, was awarded with their annual Leaders Conference trip, etc... So I have a lot of knowledge about them and their products. Here is my opinion on AIG/AGLA...

    1. Great products, however their Premium Expense Charge on their Max Accumulator + is high. It is currently 12%, down from 18%. But when you compare it to Allianz, they only have a 6% expense. 15 Year surrender charge with good death benefit guarantees.
    2. FlexTerm is hands-down a super term product that is convertible into any of the regular QoL permanent products up to age 70. There is a 1 year term conversion credit that will be added to the cash value for the first 5 years of the policy.
    3. The AAS rider on their IUL is super. It functions similar to LTC (no health license or LTC certification is needed - it is not LTC). It pays either 2%, 4% or up to the IRS per diem rate - of the death benefit monthly for a qualifying chronic illness, irrespective of severity. Clients have to qualify for this separately - so not everyone is eligible, unlike the regular Accelerated Benefit Riders, which is free of charge and is included by default on all QoL policies.
    4. Their Income for Life rider is a joke. To me, it makes more sense to never use this option. Great deal for AIG, horrible deal for the client.
    5. Underwriting is slow and can be painful. I have written with them for many years, and overall, AIG is OK but it's slow more times than not.
    6. If you write IUL and term together, there are 3 discounts: a) the term is issued at one rate class better than what the IUL is approved at (unless substandard), b) The term policy fee is waived, and c) the IUL face amount is combined with the term face amount for the purposes of "banding". You must do this on 1 IUL app, then add one or more FlexTerm policies on that app. All IUL and term policies must be on the same billing account.
    7. The FlexTerm with Accelerated Living Benefits is very competitive.
    8. AIG/AGLA has a great overall underwriting spectrum. Unlike companies like North American and Securian, their UW guidelines are generally more liberal, so you are able to get more clients with less than optimal health approved.
    9. They will chargeback any commission advances if the client makes any changes within the first policy year. Then, they will issue an updated advance. This is a relatively new policy and I don't get it. Fortunately I have not had any chargebacks since this policy started, but I have heard some stories from other agents.
    10. Agent marketing support is good. They are an agent friendly company.
    11. Their GUL product is good for older clients that need protection (not cash value) at an affordable rate. It offers a Return of Premium option beginning in year 20.
    12. On their eApp, there is a question "Do you want to answer all of the part B medical questions?" (or something like that). I usually answer NO and let the paramed answer these questions. It speeds up the app, and the paramed can get the specific details.
    I've written very little American National and it's been quite a while, so I can't really offer too much on that.
     
    wfs, May 29, 2019
    #30
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