Canseco Ins.

[Sir Ringo]

I mentioned to a friend of mine that I had some interest in a product from canseco. He didn't elaborate, but said he would have to clarify a rumor he heard, but thought that they were on the watchlist. Anyone have info on this?

And, BTW, if anyone has a link to an insurance watchdog site that keeps tabs on the industry would greatly be appreciated. Thanks

 

[CHUMPS FROM OXFORD]

I didn't even know they offered ind. health insurance any more. Many years ago, they abruptly pulled out of many (all?) states.

 

[BKrocko]

I didn't even know they offered ind. health insurance any more. Many years ago, they abruptly pulled out of many (all?) states.

C'mon Chumps, you're the sports writer - you know that Canseco had to pull out of the insurance business because he admitted to being on the juice.

 

[CHUMPS FROM OXFORD]

You're right! I don't know what I was thinking! By the way...I hear he is writing another book.

 

[Sir Ringo]

Uhmmm, sorry about that, CONSECO INS.

 

[Sir Ringo]

Actually, I was looking into adding their burial expense and cancer policy, with the cancer having a rop, sounds interesting and have requested more info.

However, I think that it may be more to it other than conseco having problems, but I am checking.

I think my friend may have other reasons that he doesn't want me to market their products, like not getting along too well with this particular imo. Thats why I am asking if they (conseco) was being scrutinized for anything.


Thanks

 

[senior-advisor-indiana]

I think they were/or were going bankrupt a few years back. Since that time thier rating has gotten better and I think they are out of the hole they dug themselves.

They do I have a great cancer plan and I am in the middle of contracting for that at this moment. They als provide mailers for agents to mail out themselves for the cancer product.

 

[somarco]

They (Conseco, not Canseco) were indeed in the major med business, and mortgage life biz, and annuity biz and loan shark business and then tripped & fell. Can't recall if they filed BK or not but came real close. Lots of agents who were selling their products & recruiting heavy on the stock options got burned . . . as did their clients.

They restructured. Sold off the loan shark (Greentree Financial) business and tried to make a comeback as primarily a life, annuity & senior market company. Could be wrong, but I think they pulled the plug on the mortgage life insurance market for the second time. I do recall them doing a road show to introduce the NEW Conseco last year with their new mortgage life products.

Is the Indy basketball arena still named for Conseco? I am not a round ball fan so I will beg off.

 

[Sir Ringo]

Thanks alot guys, I am leaning toward getting a contract with them to sell the cancer plan, and from the what the imo told me it did sound like a very good plan.

 

[senior-advisor-indiana]

What commission are they offering you? I got an offer of 45% for the lump sum cancer and I thought it seemed low.