Captive Agents in Senior Market

Jul 11, 2015

  1. agentjhc
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    agentjhc Guru

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    How many of you all, or folks you know are captive in the Sr Mkt ? What do you see as the advantages and disadvantages ? Is this more prevelant in MA sales than MS sales ?
     
  2. Newby
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    Captive with med sups or FE is the death blow.

    MA it might have some advantages if it's a popular and competitive MA in your area.
     
  3. agentjhc
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    agentjhc Guru

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    What I was thinking. Combined advertises for local sales reps. Rates are pretty good, but who knows in the future. Heard UW is tight as well. Humana has been strong in MA Mkt here, but UHC/AARP is/has improved their network and should be able to compete much better this AEP.
     
  4. vic120
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    vic120 Guru

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    Being Independent, has probably ruined me from ever working for someone again. I shutter at the though the govt can make some new laws or changes that might put us out of buis, Because I Don't think I could ever work for anyone again
     
  5. agentjhc
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    agentjhc Guru

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    Yeah, it it will interesting to see how things unfold as Congress tries to save money on the Medicare program. I would think massive changes will not occur, but who knows.
     
  6. smokin goose
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    smokin goose Guru

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    Combined has an independent contract for their med supps you could get from either Tins or Todd King. I have no clue on the UW. I've only wrote T65s with them.
     
  7. Newby
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    It's happened to me twice.

    I made my living selling Hondas motorcycles ATVs and four wheelers. As you can imagine you can't give a motorcycle away in Indiana for about five months of the year. So it's all ATVs and four wheelers through that part of the year and we sold a lot of them. So then Tipper Gore decides that they're too dangerous and it was the Japanese manufactures trying to make money by killing off all the American children. She was never able to prove that they were more dangerous than riding a bicycle, snow skiing, rollerblading or dozens of other activities the kids and teenagers would normally do. But they managed to get three wheelers pulled off the show rooms and four wheelers regulated so tightly that people had to actually watch a 45-minute video explaining how these things were extremely dangerous and would probably kill your family members before we were even allowed to let them see the product on the showroom. That made for a pretty rough winter that year.

    The second time it happened to me I was making my living selling only funeral pre-need insurance which I had been doing for 10 years. Some genius decided that they were going to require you to get a funeral directors license in order to sell preneed insurance. Not that funeral directors know anything about preneed insurance, they just wanted to have more control and exclusively over it. So all of a sudden I was not able to sell the product that I've been selling for 10 years and actually trained numerous funeral directors how to sell. And I had to enter a three year apprenticeship program to become licensed to sell it and nothing in the apprenticeship program even mentioned the product that I was banned from selling.

    Believe me you can't hide. No matter where you are or what you do some idiot with a pen can really screw you up.
     
  8. sman
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    In my opinion there are many more disadvantages than advantages. At best they may (and I really stress may) provide you with leads. And I guess it's possible you get benefits as well.

    But the tradeoff is you only have one product (carrier) to offer (harder to put clients best interest first), lower commissions, you don't own the book, you have a manager to answer to and likely have mindless reports and activities they require.

    I learned long ago to not use the word never, but it would be nearly impossible to get me to go captive. And probably just as difficult for me to have a "manager".
     
  9. rbrewer
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    rbrewer Super Genius

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    When I was in that biz the Funeral directors hated pre-need people and always acted like they cared about the families more and all we cared about was making money! It was very hard to stomach some of them!
     
  10. Newby
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    Yes. There is that with most funeral homes.
     
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