Columbian FE Meeting

rousemark

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Niota, TN
Attended a Columbian meeting this morning. Was nice to be one of the young guys. :laugh: Several of the agents were 70+ with the oldest being 77.

They were "introducing" their new FE series which I would assume every one has seen by now. They are slightly more competitive on their level benefit than they were for mos people. They have a few niches that may be useful such as level for AFIB..

The one statement they made during the meeting that I found really interesting is they claimed that a few years ago Columbian was the top producer of FE coverage in the nation but that they were down to number 5 now. I asked who was number 1 and they said Lincoln Heritage was number 1 and Foresters was number two. LH is at $100M per year now. Colombian did $30M last year. Not too shabby but looks like they have a long way to go to catch up.

The statement was also made that the reason they had dropped was because they had gotten where they were not competitive in respect to premiums. I asked how that could be the reason. After all, LH is supposedly number 1 and they have some of the highest premium rates in filed.
 
One is used by Indy producers and the other is captive.

Either one can stay on top if I had my choice. I like replacing them. :)
 
Attended a Columbian meeting this morning. Was nice to be one of the young guys. :laugh: Several of the agents were 70+ with the oldest being 77.

They were "introducing" their new FE series which I would assume every one has seen by now. They are slightly more competitive on their level benefit than they were for mos people. They have a few niches that may be useful such as level for AFIB..

The one statement they made during the meeting that I found really interesting is they claimed that a few years ago Columbian was the top producer of FE coverage in the nation but that they were down to number 5 now. I asked who was number 1 and they said Lincoln Heritage was number 1 and Foresters was number two. LH is at $100M per year now. Colombian did $30M last year. Not too shabby but looks like they have a long way to go to catch up.

The statement was also made that the reason they had dropped was because they had gotten where they were not competitive in respect to premiums. I asked how that could be the reason. After all, LH is supposedly number 1 and they have some of the highest premium rates in filed.

They just "got" uncompetitive? So when other companies raise rates, Columbian gets more uncompetitive? Yeah...that makes sense! :no:
 
They just "got" uncompetitive? So when other companies raise rates, Columbian gets more uncompetitive? Yeah...that makes sense! :no:

I think they were implying that other companies had decreased rates.. :err:

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I did admire the fact they didn't seem to hold anything back and answered all questions asked. On the forum, we have had several discussions to the effect that no company will reveal the percentage of contestable claims that were paid. I asked that of the head underwriter today and was told by her 45% on the FE product.
 
Columbian had the meeting for the new Fe product 4 months ago in my area . They've had problems getting it out the door and now it's July 1 launch . Columbian is one of the few carriers who has a 2 page brochure on contestability and says they meet monthly to monitor rescinded policy's and won't hesitate to terminate agents with a high vol of rescinded policy's .
 
Columbian had the meeting for the new Fe product 4 months ago in my area . They've had problems getting it out the door and now it's July 1 launch . Columbian is one of the few carriers who has a 2 page brochure on contestability and says they meet monthly to monitor rescinded policy's and won't hesitate to terminate agents with a high vol of rescinded policy's .

My impression of them as a company is that they want to do things right.. However, there seem to be a couple of GAs around here that seem to have other ideas. Seems every company has a few of those. Guess the companies don't get enough official complaints against them for the company to know the facts.

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There elite does price well, what does it actually accept medically?

They say 80% of applicants will qualify for the Elite.. Insulin Diabetics over 50 with no complications qualify. Heart conditions if any surgery or stroke has been more than 24 months ago. AFIB is immediate benefit but not Elite. Cancer 24-60 months is Select, 60 months+ Elite..
 
Swore there was an agent guide or app that was out for there elite. For what it's worth Foresters Level = Columbian elite sad that they knew they willingly put themselves at the middle of the price pack.
 
Go to this link:
https://www.cfglife.com/partners/publicForms

You can pull up all their forms, rates, agent guides for whatever state you want. If the Elite program is not yet approved in your state, use Tennessee.. The product is under the Final Expense tab.

Yeah.. They aren't so low that they could be buying the business but they aren't so high they can't be used. Maybe, that is not a bad thing. I was just checking rates, they seem to be competitive with SNL, especially on females. At some ages they are cheaper.
 
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