Disability IMO suggestion

[SRee973]

This ^

Tahoe Ray's idea is probably the best, try both of the ones mentioned so far and see which is the better fit. Also, Tahoe Ray's right about the Lloyd's due to the client's age. While DIS uses Petersen's for Lloyd's, such a specialty case may not be a good 'test case'. Also, hopefully you will like our comparison tool.

Perhaps get quotes on yourself from the two and compare the results and experience?

Either way, IDI is an excellent addition to your product line.

So, I wouldn't have to contract with Petersen separately if I contract with DIS?

 

[DI Guy]

You would be contracted with Petersen's (and any other carriers) through DIS. Probably this is how all the Managing General Agencies work. We do the contracting on an as-needed basis so you wouldn't have to contract with all of our carriers even though you might never use some.

You do not have to be contracted to just request a quote, so the process is really simple up to the sale (then contracting (for you) and application (for the client) enter the picture).

 

[SRee973]

You would be contracted with Petersen's (and any other carriers) through DIS. Probably this is how all the Managing General Agencies work. We do the contracting on an as-needed basis so you wouldn't have to contract with all of our carriers even though you might never use some.

You do not have to be contracted to just request a quote, so the process is really simple up to the sale (then contracting (for you) and application (for the client) enter the picture).

Spoke with DIS.

Here's the process for submitting an app:

- An agent submits the Proposal Request Form (pdf or online) and any medical information necessary.
- DIS pre-qualifies and then gives agent 3 carriers side-by-side to present to client.
- Then agent submits app.​

I understand pre-qualifying through DIS before an app is submitted. It reduces declines.

However, from my understanding, I don't get access to the quoting engine where I can input figures and give a client some basic numbers.

Going through a rep to submit business is ok. The rep can make sure the case is placed with the carrier(s) best suited for it.
However, not having access to the quote engine is not ideal. I'd like to give a client some numbers when I speak to them (even preliminary numbers before underwriting is done).

Perhaps I misunderstood something.

 

[Tahoe Ray]

Spoke with DIS.

Here's the process for submitting an app:

- An agent submits the Proposal Request Form (pdf or online) and any medical information necessary.
- DIS pre-qualifies and then gives agent 3 carriers side-by-side to present to client.
- Then agent submits app.​

I understand pre-qualifying through DIS before an app is submitted. It reduces declines.

However, from my understanding, I don't get access to the quoting engine where I can input figures and give a client some basic numbers.

Going through a rep to submit business is ok. The rep can make sure the case is placed with the carrier(s) best suited for it.
However, not having access to the quote engine is not ideal. I'd like to give a client some numbers when I speak to them (even preliminary numbers before underwriting is done).

Perhaps I misunderstood something.

Once you're appointed with each carrier, you'll have access to each carrier's quote engine.

They're just doing some legwork for you.

 

[DI Guy]

Just like Tahoe Ray said, the quote engine becomes available when a broker has placed a case with a given carrier.

Brokers run the gamut from being relieved that someone else will do the 'grunt work' for them (so they can be out selling) to loving the flexibility of running their own quotes and then handing the application off to the case managers (and then the broker can get back to selling).

One of the bigger benefits of having the team run the quotes is that quote running is almost all these guys do. That leads to a lot of experience in placing, classing, and pre-screening cases.

Did you put a case in for a test run?

 

[SRee973]

Any decent brokerage will do all of that for you (except for the comparison tool).

I've never worked with DIS but I'm sure that they're great. I would make a few calls and see who you're most comfortable with after speaking with each.

Are you trying to cross-sell an existing book of another product or are you going to be marketing it cold?

I'm just curious as to why you're specifically looking for a DI shop.

Regardless, you'll probably have a few products outside the IMO as well (Guardian, Mass, Ohio National, Ameritas).

Frankly, I just use the carrier sales desk when I need something. I'm very happy with the service that I get through my brokerage but once you know what you're doing, it can be faster going direct to the carriers.

I checked several carriers and it looks like you can contract directly with them and use the sales desk for support, questions, etc.

Now, the value of an IMO is support, help with underwriting, which carrier to go with, etc.

Underwriting and where to place "specialty" cases (like high limit or age 65+) is the main concern for me.

It seems like you're direct to at least several carriers. How'd you learn underwriting? Just go through each carrier's requirements and go from there?
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The hesitation I have with DIS is the website is very outdated and that's never a good sign. It could be nothing (simply negligence), but I just hate seeing it. And no quote engine just to get some basic numbers.

I called the Plus Group main line and got a voicemail. That's not OK either.
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There's another DI broker in my area actually - dibrokereast.com.
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Anyway, I just don't ever want any issues with an IMO so I always take time to make sure I get it right the first time.

 

[SRee973]

Just like Tahoe Ray said, the quote engine becomes available when a broker has placed a case with a given carrier.

Brokers run the gamut from being relieved that someone else will do the 'grunt work' for them (so they can be out selling) to loving the flexibility of running their own quotes and then handing the application off to the case managers (and then the broker can get back to selling).

One of the bigger benefits of having the team run the quotes is that quote running is almost all these guys do. That leads to a lot of experience in placing, classing, and pre-screening cases.

Did you put a case in for a test run?

I submitted a quote to DIS and I'll see in 24 hrs or so.

The hesitation I have with DIS is the website is very outdated. It could be nothing (simply negligence), but I just hate seeing it.

And no quote engine just to get some basic numbers.

 

[Tahoe Ray]

I checked several carriers and it looks like you can contract directly with them and use the sales desk for support, questions, etc.

Now, the value of an IMO is support, help with underwriting, which carrier to go with, etc.

Underwriting and where to place "specialty" cases (like high limit or age 65+) is the main concern for me.

It seems like you're direct to at least several carriers. How'd you learn underwriting? Just go through each carrier's requirements and go from there?
-----
The hesitation I have with DIS is the website is very outdated and that's never a good sign. It could be nothing (simply negligence), but I just hate seeing it. And no quote engine just to get some basic numbers.

I called the Plus Group main line and got a voicemail. That's not OK either.
----------
There's another DI broker in my area actually - dibrokereast.com.
-------
Anyway, I just don't ever want any issues with an IMO so I always take time to make sure I get it right the first time.

What do you consider "high limit"? Most DI carriers will go to 20k/mo and to get that, you'll need to be earning 600k+ yr.

65+ are going to Lloyds.

Occ classes/build tables are easily accessible and your IMO is probably looking half of that stuff up anyway. Medical underwriting is also available but unless you're pretty healthy, you're unlikely to get a plan anyway (or you may have a bunch of exclusions). There are carriers with graded plans (Assurity, Lloyds, Fidelity Security).

You learn most of this stuff through experience.

Plus group is a marketing group of agencies. They'll likely refer you to a local agency that is a member.

 

[Tahoe Ray]

And no quote engine just to get some basic numbers.

By the way, these quoters will be carrier specific. You're not going to find a "term quoter" for DI. There are just too many moving parts.

 

[SRee973]

By the way, these quoters will be carrier specific. You're not going to find a "term quoter" for DI. There are just too many moving parts.

Ok, good to know.