Can't Replace LH with Settlers? - Internal Replacement?

[shonceman]

Any chance Lincoln Heritage is quietly acquiring the FE block from Settlers? Is that maybe why it was considered internal replacement?

 

[Baseball7]

No, it was the other way. NLG bought old LH business.

 

[rousemark]

Todd King is Fake News!

Fake News, didn't you get an exception to be on the convention and then later get terminated for lack of production?? No wonder you're bitter.

So you make promises to insurance companies but can't keep your word.

You insult Settlers by saying they are Clueless and calling senior management Ignorant.

Settlers is doing great things in the FE market and their renewals are some of the strongest in the industry. Unless of course, you get under one of those "Other" Agency IMO's that alter the renewals to benefit themselves.

Just Saying.

Guess recent events proves who was right.. you or Todd.. just saying

 

[Migshannon]

Guess recent events proves who was right.. you or Todd.. just saying

Todd was definitely wrong, lol. This turn of events was not because of Settlers or any of their senior management. NGL who had acquired Settlers for about 40 plus million has decided to shut the doors and stay with the income from renewals. NGL has had some changes in senior management, new CEO. They looked at the 1st year strain on FE combined with all cost of having a brick and mortar, salaries, electric, etc, NGL being mutual decided to shut her down. Fact is FE does not become profitable until it has been on the books for about 5 or 6 years. FE is really cash flow for Insurance companies. This has impacted about 90 employees and their families, who got a 2-day notice. Very sad day for all those families. Hopefully, this will clear up any Insurance Forum Bottom Feeders appetites.

 

[rousemark]

Todd was definitely wrong, lol. This turn of events was not because of Settlers or any of their senior management. NGL who had acquired Settlers for about 40 plus million has decided to shut the doors and stay with the income from renewals. NGL has had some changes in senior management, new CEO. They looked at the 1st year strain on FE combined with all cost of having a brick and mortar, salaries, electric, etc, NGL being mutual decided to shut her down. Fact is FE does not become profitable until it has been on the books for about 5 or 6 years. FE is really cash flow for Insurance companies. This has impacted about 90 employees and their families, who got a 2-day notice. Very sad day for all those families. Hopefully, this will clear up any Insurance Forum Bottom Feeders appetites.

Shannon.. I was with them in the 1980s when the Harmons and Jesse Walker were still in charge.. They made a bad decision in trusting Martin Frankel but don't know how it would have been possible for them to know his character in advance. Other than that, thy ran the company very well. The current senior management certainly ran it into the ground after they took over..It seemed at times they were trying to turn it into Forethought.. Guess they did..... with the same results.

 

[Newby]

It was short lived.. sort of like their foray into medicare supplement.

Lincoln's PreNeed Funeral Insurance was definitely not short lived. That is what they did for decades. The FE division was just a small side gig for them most of those years. They were the third or fourth largest PreNeed insurance company for most of the years that I sold PreNeed.

 

[rousemark]

Lincoln's PreNeed Funeral Insurance was definitely not short lived. That is what they did for decades. The FE division was just a small side gig for them most of those years. They were the third or fourth largest PreNeed insurance company for most of the years that I sold PreNeed.

I stand corrected.. When I was first contacted by them around 1995, I thought FE was their mainstay.. I wasn't interested at the time because I still had a bad taste in my mouth over the failure (receivership) of another Jack Londen company, Legacy Life.. They were in teh major medical business..

 

[Todd King]

Todd was definitely wrong, lol. This turn of events was not because of Settlers or any of their senior management. NGL who had acquired Settlers for about 40 plus million has decided to shut the doors and stay with the income from renewals. NGL has had some changes in senior management, new CEO. They looked at the 1st year strain on FE combined with all cost of having a brick and mortar, salaries, electric, etc, NGL being mutual decided to shut her down. Fact is FE does not become profitable until it has been on the books for about 5 or 6 years. FE is really cash flow for Insurance companies. This has impacted about 90 employees and their families, who got a 2-day notice. Very sad day for all those families. Hopefully, this will clear up any Insurance Forum Bottom Feeders appetites.

Right....sure. Had not one thing to do with Steve Bontell and Rob Theile. They have such a good track record too! Not sure what in the world I was thinking! Couldn't have been anything to do with them.

I sure am glad you were in the boardroom of NGL when all this went down so you can inform us of exactly how they came to the conclusion to shut the doors.

 

[Todd King]

Now Lincoln Heritage has gotten hold of a list from Settlers and is calling all the agents trying to contract them. We've been called twice in the last hour.

 

[shonceman]

Now Lincoln Heritage has gotten hold of a list from Settlers and is calling all the agents trying to contract them. We've been called twice in the last hour.

Haha! Call away! I think most Settlers agents are onto them. I hope they do call me. I might have a little fun with them!