Anyone have some words about Senior Solutions?

[retread]

probably the same company, they have offices all over the place- if they sell penn life and pyramid life, that's them

Wisconsin Commissioner of Insurance News Release, Insurance company ordered to pay record penalty

 

[diva1]

Don't know what you consider "new" to the insurance industry. This will be year three. It is a lot longer than most who were with BLC.

 

[stormtracker]

Diva1: do I have to pay to join your agency?

 

[insuranceexec]

I'm not for sure why there are so many different stories about Pennsylvania Life/Senior Solutions. I have seen first hand all agents receive their $200 bonus for their first apps within one week of the request being submitted. I have seen first hand agents receive their ADP bonuses for submitted business. That is submitted business not issued. I also know that this is the first company who really cares about their agents. Treats them like people. Leads are purchased by the Branch Manager. From the regional and territorial managers they are all great people! The products are outstanding. You have Penn Life, Pyramid, Select Care, John Hancock, Lincoln Financial and American Investors. From HMO, PPO, PFFS, Prescription Drug Plans to Medicare Supplements, there is something for everyone! Commissions are great and are paid quickly. All I can say it has been great and I am proud to work for them!

I also must reply to the statements about some of them being ex-Bankers people. Do you wonder why? Could it be that Bankers was so bad that they have gone to a company that is better and are capable of making a difference in peoples lives.

I will tell you what happened here in Arkansas. the BSM for Bankers left and took about 60 agents with him to SS and started replacing (churning) all of Bankers products that were on the books. They touted that Penn life was the best company ever; then two months later after replacing nearly 1 million in Med Supp premium and about 10 million in annuity premium realized that they were not going to be paid on any of it. Penn Life and bankers are both owned by Conseco.........LOL. It was so funny to see those little chickens run around to all of those clients trying to sell them something different. And they said they were how smart..............LMAO..

 

[captain94]

Penn-life is not owned by conseco it is owned my Universal American. 2 diffrent companies. You are thinking of colonial penn-life we are talking about pennsylvannia life again 2 diffrent companies.

 

[diva1]

Churning is a dangerous term to be throwing out there. Replacing is another more appropriate word. There is nothing wrong with an agent "replacing" a clients policy if it provides better benefits and/or lower premiums. No one "takes" agents with them. They choose to go. As a TVP I would be concerned if 60 of my agents left an office. I would want to know what is going on in that office that made 60 "want" to leave. And captain94 is correct - Pennlife is NOT owned by Conseco. I am curious - how did you know that 60 agents did not get paid! I find that a very ineresting statement.
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There is an application fee- which you are told about up front when being interviewed and your E & O which you must carry on your own (also information you are told about up front). Of course, for those non-licensed individuals you are informed about the start-up costs for getting licensed.

 

[insuranceexec]

Penn-life is not owned by conseco it is owned my Universal American. 2 diffrent companies. You are thinking of colonial penn-life we are talking about pennsylvannia life again 2 diffrent companies.

You are right sorry for the confusion. In the lastest SEC filing they are referred to as "Conseco's Penn-Life."
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Churning is a dangerous term to be throwing out there. Replacing is another more appropriate word. There is nothing wrong with an agent "replacing" a clients policy if it provides better benefits and/or lower premiums. No one "takes" agents with them. They choose to go. As a TVP I would be concerned if 60 of my agents left an office. I would want to know what is going on in that office that made 60 "want" to leave. And captain94 is correct - Pennlife is NOT owned by Conseco. I am curious - how did you know that 60 agents did not get paid! I find that a very ineresting statement.
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There is an application fee- which you are told about up front when being interviewed and your E & O which you must carry on your own (also information you are told about up front). Of course, for those non-licensed individuals you are informed about the start-up costs for getting licensed.

Yes Churning is totally different than that of replacing. And when one is taken out of Med Supp J plan costing $120 per month and replaced it with another J plan costing $180 per month, and the client is told that the reason they did this is because BLC is going bankrupt; I would say that constitutes "CHURNING."

Then again those are not my words, they came from the DOI back in 6/2006.

I knew the USM who was given a District Office with SS when he left Bankers Life several years back and he told me this.

I do not work for SS nor do I work for Bankers Life. I thought I would throw this out there.

 

[stormtracker]

You lose me at the point that you attempt to charge an "application fee."

 

[diva1]

Laugh what you want. The point being, is that at least with SS they were honest to tell agents up front the costs of coming on-board. Unlike a few other companies who do not.

Also it is found that the SS Med Supp J plan that is offered is majorly competitive in price to competitors (in our area it is BLC). Lower premium. Plus the customer service from BLC has just been deplorable for clients).

Not defending actions of any company, but I do know that there are always unscroupulous(sp) agents selling products in many companies at some point - yours being notated in 2006. That is three years ago.

Telling clients that BLC is just bad business. There is no need to slam other companies if you believe in your company and its products and they treat you right. All I can say is so far so good.

We do not "ever" replace policies unless it is in the best interest for the client. They are not allowed to be submitted. IE on the replacement form there better be a good explanation - better benefits/lower premium.

The goal, I think, is for agents to find the company fit. What company is good for you and your family.

 

[captain94]

I agree...The plan j with SS is very cheep. the problem however is that after everyone takes a chunk of the commisions SS struckture is very low 10% for a plan J and D 13% for anything else and $220 for a new MA less if it is a replacement. at least in my state. hard to make a living with a 6 month advance and 10% commision. But the training is good and the company is very good if you need the training otherwise go indy.