Assurity Vs Colonial and AFLAC

Oct 9, 2010

  1. The Gimp
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    The Gimp Guru

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    For those of you in worksite marketing, I'd like to get opinions on how Assurity compares to Colonial and AFLAC from premiums to benefits.

    Thanks
     
  2. brwirt
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    brwirt Expert

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    Aflac is the best,hands down. A little more pricey but richer in benefits. Since they hire anyone with a pulse you will be going up against " you are the 5th aflac agent this week". Good luck. Colonial is outstanding with respect to their broker development. I have no idea about Assurity.
     
    brwirt, Oct 9, 2010
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  3. stuy119
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    Don't know about Assurity, but Colonial and Aflac have similar benefits on most programs at a lower price with Colonial.

    Claims processing is great with both. Billing services and admin services from Colonial blow Aflac out of the water.

    If you're a broker, employees will like either one. If you're a broker, select Colonial as a partner. Several reasons:

    1. Aflac has too much turnover. You'll only work with one rep for a month or so, then they're gone. There is never any relationship.

    2. Colonial understands that your accounts make you money, and will do everything in their power to ensure your accounts are happy with you and the fact you brought them in.

    3. Talk to both and ask about their enrollment services and back-end services. Colonial offers more on this end, including online enrollment.

    4. Major account services. Colonial essentially creates a department for each large corporation that enrolls to ensure they are happy with the services.

    5. Commissions. Commissions are higher with Colonial and you can qualify for certain bonuses.

    But find out for yourself. Contact the HQ for each, and see what the response time is for each. Interview the local managers AND the representatives that you would work with. Ask for references from each. Speak with local business owners to get their impressions of the implementation of each one, and the impression of their reps.

    Do your research, but know that there is a reason that Colonial wins awards from Benefits Selling Magazine on an annual basis.
     
    stuy119, Oct 9, 2010
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  4. chuckl1809
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    chuckl1809 New Member

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    Hi,

    I'm new to the forum and in the process of obtaining my L&H license. Very interested in AFLAC because of their focus on group disability products. I had to use one myself 5 years ago and AFLAC was very responsive. However, I'm also interested in the comments regarding Colonial. Which Colonial are you referring to - Colonial Life or Colonial Insurance out of Texas? Thanks everyone. I appreciate your help.

    Charlie -
     
  5. Broker007
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    Broker007 Expert

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    Assurity is leaving the worksite market soon. Aflac is the elephant in the market, but Colonial is more respected in most markets with the broker community and municipalities. I would start my career with AIG if I was new to the market. Several reasons including paid training. Drawback there is their name is mud in the general public.
     
  6. kheyknee
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    kheyknee Super Genius

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    Colonial Life is based in South Carolina and competes directly with Aflac. If your focus is on disability you will find that Colonial offers several advantages against Aflac - guarantee issue options topping the list, followed by higher income replacement levels. Colonial offers GI but Aflac does not.
     
    kheyknee, Oct 11, 2010
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  7. HomeService
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    HomeService Guru

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    I spoke with a guy recruiting new agents for Colonial- not brokers- but career agents. In the career agent department- it seemed sort of like a pyramid, recuit 6 agents under you, split off, become a manager, those agents recruit 6 and then become a manager, so on. Like MLM sort of. However, I still think Colonial has the best products. And the best expertise and handling of cases and enrollments. While I know it is not really a pyramid or MLM, just the fact that they were using the recruiting model- shocked me for some reason. It's been used in insurance for years, though, so I don't know why I was surprised.
     
  8. VolAgent
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    No, that is an MLM. The reward is not in selling, but in recruiting. An organization becomes an MLM when the focus moves from selling the product, to recruiting new individuals who recruit new individuals to sell the product.
     
    VolAgent, Oct 12, 2010
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  9. kheyknee
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    kheyknee Super Genius

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    Colonial has a sales leadership track which focuses on recruiting and training - which may or may not be for you. But there are other career tracks to follow.

    Some of the biggest earners focus on opening new accounts which involves no recruiting at all. The commission structure and bonus payouts favor those who excel in this area.
     
    kheyknee, Oct 12, 2010
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  10. VolAgent
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    I was just responding to what HomeService said, what he described is an MLM.

    While I am not interested in Colonial due to their product line, I have heard nothing but good things about them. I've heard very little, but it has been good.
     
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