Contracting and Studying

[Justin Bilyj]

Hello Everyone,
I have requested information on becoming contracted with carriers for Life and Health. I got a whole bunch of folders in the mail, and multiple Life companies as well as Health.
I am going to sign with HealthChoiceOne, and they have a whole list of carriers to choose from for H&L. How do I know which ones to sign with?? Why so many? and How do you digest the wealth of underwriting information etc. I would love a computer program that I can simply put the needs of the client in and compare quotes (I know quotit does it for health, but I would like one for Life as well).
Its kinda overwhelming all that information. Any advice?? Any pot shots??

 

[Todd King]

HCO is great to go with...just be careful about the contract levels you are getting. All I'm saying is that when it comes to getting contracts, some of us are willing to give more than others do. Shop it just like you would shop for insurance for yourself.
As far as what companies you should get through HCO, it depends on where you are going to be selling. Some of the companies are pretty good to have no matter where you are, some of them are not a competive product in certain states.
Yes, I know all the info is very overwhelming right now, but it will get alot easier with time. You mean no one told you it was like going to college everyday? LOL

 

[Winter_123]

Hello Everyone,
I have requested information on becoming contracted with carriers for Life and Health. I got a whole bunch of folders in the mail, and multiple Life companies as well as Health.
I am going to sign with HealthChoiceOne, and they have a whole list of carriers to choose from for H&L. How do I know which ones to sign with?? Why so many? and How do you digest the wealth of underwriting information etc. I would love a computer program that I can simply put the needs of the client in and compare quotes (I know quotit does it for health, but I would like one for Life as well).
Its kinda overwhelming all that information. Any advice?? Any pot shots??

Presumably you have chosen to go with HealthChoiceOne because you are convinced that they will help you with those questions. Otherwise why did you go with them?

 

[Todd King]

Do you mean to say that HCO is offering lower than available commissions?

No, I'm just saying that some brokers want to give agents the lowest they can give so they make more money. Some give out higher contracts. In other words, if you can get higher than street level, why not? I personally don't believe that I should make this huge overwrite on you just because I can. After all, you're the one out there working and bringing in the business, right?

 

[Todd King]

Street level for GR and Humana is 20% , right?

If so, do you know of any reputable GA's who offer higher than street level commissions, with an advance and 30 day release?

Well yes, me. I do give up front releases. That of course is dependent on any advance balance or any other monies owed to the company.