Bankers Fidelity???

[senior-advisor-indiana]

I talked to Harold a few weeks ago (he called my cell phone out of the blue, and he sounded like a client so I didn't brush him off like I generally do most marketers). I was shocked when he told me his age.

He told me to talk to Tom and ask about getting an agency contract for Bankers but never got around to it, Harold wasn't sure what the levels above street were but he said his son would know. 88 yrs old and still active in the business, what a story.

Have been happy using Philadelphia American for the healthy folks, but if they take insulin up to 70 units at their low rate then I need to look at them.
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Louis, I am contracted with Equitable as well, so as I understand we can use CSG to run rates. How do you gain access to the quote engine?

Log into the site and I believe on the left hand side scroll down to Medicare supplement quotes. It transfers you to csg.

 

[rousemark]

I talked to Harold a few weeks ago (he called my cell phone out of the blue, and he sounded like a client so I didn't brush him off like I generally do most marketers). I was shocked when he told me his age.

He told me to talk to Tom and ask about getting an agency contract for Bankers but never got around to it, Harold wasn't sure what the levels above street were but he said his son would know. 88 yrs old and still active in the business, what a story.

Have been happy using Philadelphia American for the healthy folks, but if they take insulin up to 70 units at their low rate then I need to look at them.
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Louis, I am contracted with Equitable as well, so as I understand we can use CSG to run rates. How do you gain access to the quote engine?

Tom told me today that Harold has terminal cancer but continues to work.

The CSG link is gone from the EL&C page.. Don't know what happened

 

[senior-advisor-indiana]

Tom told me today that Harold has terminal cancer but continues to work.

The CSG link is gone from the EL&C page.. Don't know what happened

Wow it is gone. I thought they dropped my commission 9 pts to pay for that...

 

[medsuptage]

I was curious if anyone had any issues with them enforcing the verbiage in their contract?

They have the same AIMC rules where if you replace the business they can terminate you.

Also, if the contract terminates for any reason, they reserve the right to reassign your clients to another agent along with 100% of your renewals or pay 25% of your renewals to another broker for servicing the policies. It is all 100% at the sole discretion of the company. Either way that sounds like a really scary way to lose your book of business.


Has anyone had issues with this?

 

[rousemark]

I was curious if anyone had any issues with them enforcing the verbiage in their contract?

They have the same AIMC rules where if you replace the business they can terminate you.

Also, if the contract terminates for any reason, they reserve the right to reassign your clients to another agent along with 100% of your renewals or pay 25% of your renewals to another broker for servicing the policies. It is all 100% at the sole discretion of the company. Either way that sounds like a really scary way to lose your book of business.


Has anyone had issues with this?

The 25% doesn't bother me that much as they would have to prove service was being performed to justify it. However, I would just assume that after termination, I was going to take a 25% hit and therefore wouldn't be shocked when it happened. That would be better than the old Continental contract that charged the agent 20% of the premium after termination.

The replacement is something else:

16. REPLACEMENTS. The Company reserves the right to not pay Compensation and/or terminate the Agreement of a Broker who issues or attempts to have issued:

A. any policy similar to a former policy issued by the Company on the same Insured which former policy has been terminated, lapsed, cancelled or surrendered within one year prior to the date of the application for the new policy; whether the new policy is with Bankers Fidelity Life or another insurance company; or,

B. any new policy which, in the sole judgement of the Company takes or is to take the place of other insurance on the same person

Does B mean if I write a replacement policy with any company, not just BF and they find out about it, they can terminate for cause?

If it were not for the termination language A would not be all that unusual.. Many companies (at least the captives) do not pay commission of a replacement policy written within 6 months or a year after the lapse of a policy.

 

[senior-advisor-indiana]

CSG is back up on the Equitable website now.

 

[Rbak5]

Bankers Fidelity Life Insurance Company has an ad stating they provide the leads. Anyone using them currently?

 

[rousemark]

Bankers Fidelity Life Insurance Company has an ad stating they provide the leads. Anyone using them currently?

If I remember correctly, those are for a captive sales force.

 

[jlallgier]

They are good in spots here in IA for Plan G/N but they have a hospital network premium reduction program where clients can get $100 off their next premium if they use one of these hospitals.

USA Senior Care Medicare Direct

 

[rousemark]

They are good in spots here in IA for Plan G/N but they have a hospital network premium reduction program where clients can get $100 off their next premium if they use one of these hospitals.

USA Senior Care Medicare Direct

Equitable also has a program like that.