Best Carriers

Kehinda Pryor

New Member
12
I just wanted to know which carriers do the other agents and brokers prefer out there. Is it because of the compensation, the underwriting, the benefits they offer members, etc.? I'm looking at adding contracts but I wanted to get a good feel for who are providing the best for clients and who issues out the policies the quickest.
 
There are a number of favorites, but sometimes your state also makes a difference. I'm in California and we have issues with disability waiver of premium riders, so that is a big filter for me. I don't think Illinois has much to be worried about... but it is an important aspect.

Generally, the favorites on the forum are:
Whole Life: Ohio National PGA direct (a forum sponsor), Penn Mutual, MassMutual, Guardian.
IUL: Allianz, Midland National PGA direct, North American (through your IMO).

I use American National PGA because of the (express) underwriting and they offer disability waiver of premium in California on their policies. None of the other three do that.
 
Try both and compare the contracts. Sometimes you'll get better contracts through IMOs than direct. Not all IMOs offer all carriers. Unless you are getting leads from your IMO, there's no problem contracting through multiple IMOs.
 
For term and GUL, you'll need quite a few carriers if you want to be competitive. That is where your IMO can be valuable...that way you can contract as you go.

DHK's whole life carriers are excellent and there aren't many reasons to deviate from those.

Add Lincoln and a few others to your IUL list.

Bottom line is to find the need/circumstances first and then find the carrier.

Comp only becomes a consideration if all else is mostly equal.
 
@rcduggan are there any carriers that you prefer?
i run many carriers and i like each for different reasons.
whole life i like ohio national and have only good things to say about every aspect of them. comp is lower but i don't run a given carrier or product for comp. you can't go wrong with any mutual insurance company in my experience. DHK's listing is solid and the products offered from those carriers are too.

i like north american for their IUL, in fact, i like it so much i own it ; ) allianz is solid and don't run any midland national but i do believe i have some on the books.
term is a slam dunk with mutual of omaha but then again, many of the term products offered are pretty good and competitively priced if you quote with something like winflex.

don't work with any mickey mouse companies and avoid the GA's like WFG and PFA. find yourself a GA with a decent reputation. you cannot ask for much off the bat but start submitting cases, rub shoulders, and your contracts will ripen up.
Bottom line is to find the need/circumstances first and then find the carrier.

Comp only becomes a consideration if all else is mostly equal.
^ what this guy says is invaluable ^ this was taught to me early on. when you truly understand your position in the clients life, what life insurance is and the opportunity you have to serve your community in this capacity, compensation will no longer be your driving force. then you will be making "the quan" ; )
 
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