Columbian FE Meeting

[Newby]

Sure. But why should I pick them up when I am already grabbing other carriers to fit my bread-and-butter carrier weaknesses? That's my point. I see this particular product evolution shoring up concerns of marketers who lead with Columbian having a hard time convincing educated agents on continuing to use them when other products have better pricing considering the look-back period. Again, if I was a marketer making 5x to 10x as much annual renewal income off of unsuspecting agents versus the 1 or 2% annual override spread most other products offer, but with more competitive offerings along with better ease of use, I'd be EXTREMELY motivated to get Columbian to offer a better-priced product to shore up and increase premium sales that would otherwise go to other, lower-renewal carriers. I don't see why any of us would preferentially reach for Columbian now with all the other options we have that are superior in price, underwriting, and quality.

I take it you weren't offered the 15% renewals?

 

[jdeasy]

There are more health questions in elite, also they ask who dr. Is, when was last time you went to dr. Much longer then old pos.

Sounds like if they can get that elite product then they qualify for FU. That's kinda like that well priced plan that SL has. Anyone that can get that plan could easily qualify for FU.

 

[ZackMorris]

I don't mind writing Columbian. Not a fan of the interviews as Apptical has hired some real slugs recently and some of them seem to drag on. Not sure how long the new interview will be. It'll be nice when the new rates are released here in FL though.

For curiosity's sake.. say I'm only getting 5% on my renewals.. does that mean someone else is earning the other 10 whether is the IMO or MGA or both splitting?

 

[Newby]

I don't mind writing Columbian. Not a fan of the interviews as Apptical has hired some real slugs recently and some of them seem to drag on. Not sure how long the new interview will be. It'll be nice when the new rates are released here in FL though. For curiosity's sake.. say I'm only getting 5% on my renewals.. does that mean someone else is earning the other 10 whether is the IMO or MGA or both splitting?

Columbian gives 15% at the agency level contract. But they don't have structured grids of how much to give to the agents at street. It's up to the upline to decide. They suggest at the street level 115% contract that the agent renewal the agent gets 13% and his upline gets 2% of the renewals. But it seems like way more than half of the up lines take much more of it for themselves. If you are direct to the upline you know who is keeping it. If you are under a guy who is under a guy you don't know for sure which of them is taking it but one of them is for sure.

Columbian is fine with any amount the agency gives the agents unless it creates a problem for one of their existing channels of distribution. They have three channels with MUCH infighting and much drama apparently.

The only reason you would want to write Columbian as an agent is the high renewals. Most agents prefer to not write them because they are such an easy to beat company. If you are selling them you can't replace them or you put your high renewals at risk. Which defeats the only attractive feature of selling for them.

 

[SammyJ]

The scam with the renewals is you must keep 20 policies on the books to keep them after termination.So at 13% that's about $1500 of yearly renewals they're going to steal at some pt . Over 8-10 yrs a terminated agent will have $5000 plus stolen.

 

[rousemark]

Columbian gives 15% at the agency level contract. But they don't have structured grids of how much to give to the agents at street. It's up to the upline to decide. They suggest at the street level 115% contract that the agent renewal the agent gets 13% and his upline gets 2% of the renewals. But it seems like way more than half of the up lines take much more of it for themselves. If you are direct to the upline you know who is keeping it. If you are under a guy who is under a guy you don't know for sure which of them is taking it but one of them is for sure.

Columbian is fine with any amount the agency gives the agents unless it creates a problem for one of their existing channels of distribution. They have three channels with MUCH infighting and much drama apparently.

The only reason you would want to write Columbian as an agent is the high renewals. Most agents prefer to not write them because they are such an easy to beat company. If you are selling them you can't replace them or you put your high renewals at risk. Which defeats the only attractive feature of selling for them.

The GA side must work a little differently. They have a fixed grid for for down lines with renewal levels tied directly to first year levels. Plus on the GA side you have their other products.

 

[SammyJ]

Columbian is one of the few co's that will write a 50-55 yr old smoker a 30 yr level term. Also the the Ht/Wt tables on that product incredible and loose table 4 non med underwriting .

 

[Newby]

The GA side must work a little differently. They have a fixed grid for for down lines with renewal levels tied directly to first year levels. Plus on the GA side you have their other products.

They will print those grids any way the upline wants them. They are not fixed. That's why you talk to three different agents you find out they have three different renewal amounts but the same 1st year.

Everyone with Columbian has all products don't they? Are some locked out of them?

 

[SammyJ]

Newby doesn't Transamerica have a 100 different grids like Columbian? I'm duly licensed with Trans as one of my contracts is higher first yr but lower renewals than the other contract.So although the imo gave me a higher Fyc on the 2nd contract he's screwing me on the back end.

 

[ZackMorris]

Columbian gives 15% at the agency level contract. But they don't have structured grids of how much to give to the agents at street. It's up to the upline to decide. They suggest at the street level 115% contract that the agent renewal the agent gets 13% and his upline gets 2% of the renewals. But it seems like way more than half of the up lines take much more of it for themselves. If you are direct to the upline you know who is keeping it. If you are under a guy who is under a guy you don't know for sure which of them is taking it but one of them is for sure.

Columbian is fine with any amount the agency gives the agents unless it creates a problem for one of their existing channels of distribution. They have three channels with MUCH infighting and much drama apparently.

The only reason you would want to write Columbian as an agent is the high renewals. Most agents prefer to not write them because they are such an easy to beat company. If you are selling them you can't replace them or you put your high renewals at risk. Which defeats the only attractive feature of selling for them.

Interesting. Like most agents I learned most of this after the fact. Been doing this for couple years now. Funny enough my contract with them doesn't lay out ANYTHING related to comp. Hell, I don't think any of my contracts do but I know what my 1st year levels are.

Not even sure how to broach the topic aside from bringing it up directly. I'm sure I'll get some sort of excuse as to why it is the way it is. There's been some talk about me bringing on someone underneath me and my contracts will get upped because of it but frankly I don't know that I care to if they're just going to get short changed as well. It's funny how MLM-like this business seems.