Does Oxford Life Contract Direct?

[VolAgent]

If an insurance company contracts an agent directly with the home office at the same level the agent can get through an IMO...why wouldn't an agent go through the IMO?

Is the home office going to set up a leads program for the agent? How about give them a marketing reimbursement program? I know, they will help the agent set up his/her website, build them a logo, create an agency brochure, get the brochures printed, give them access to presentations and training (online, inhouse & in the field)!!! Maybe they get special credits for the trip?

Never made any sense to me to go directly through a home office instead of a Marketing Organization. Unless you are just another contract to the IMO and not receiving any extra benefits...

So, which IMO do you work for?

 

[nathan.lee]

So, which IMO do you work for?

hahahahaha

At least I am transparent about being a wholesaler/marketer.

 

[donamese]

With an IMO you have to deal with them to get commission changes, releases, etc. None of that hassle direct to the carrier.

While there are some IMO's that provide leads and other assistance, they are rare and the ones that do will typically put you below street level.

I know from experience Oxford Life will increase your commission based on production. If you can prove current (past 12 months production) they will give you higher than street level when contracting.

 

[rousemark]

With an IMO you have to deal with them to get commission changes, releases, etc. None of that hassle direct to the carrier.

While there are some IMO's that provide leads and other assistance, they are rare and the ones that do will typically put you below street level.

I know from experience Oxford Life will increase your commission based on production. If you can prove current (past 12 months production) they will give you higher than street level when contracting.

"Street" level being??????????

 

[donamese]

120 - Final Expense
15 - Advance Wealth Transfer
6.5 - Bonus 10
3 - Income Protector

 

[rousemark]

120 - Final Expense
15 - Advance Wealth Transfer
6.5 - Bonus 10
3 - Income Protector

Thanks.. I assumed the 120% was "street" as that is what I have seen advertised in he trade mags.. So, you are saying "with production" an agent can get more than 120% direct?

 

[donamese]

Yes. I don't remember all the specifics of what production is equlivilent to what but I think for annuities its only around 5 million for a top contract and I believe 250K for final expense. Obviously levels in between as well but no idea what they are.

 

[dignitylmg]

So, which IMO do you work for?

While we ourselves are a Marketing Organization (lmg = Life Marketing Group), we also partner with other IMOs to bring agents access to other products and/or services we don't have.

To us, our customer is the insurance agent and we don't get paid if the agent doesn't get paid. Therefore we try to utilize everytool possible to help the agent become successful. No sense in just contracting agents with insurance companies, unless you are just looking to brag about how many agents are contracted with your agency.

 

[rousemark]

While we ourselves are a Marketing Organization (lmg = Life Marketing Group), we also partner with other IMOs to bring agents access to other products and/or services we don't have.

To us, our customer is the insurance agent and we don't get paid if the agent doesn't get paid. Therefore we try to utilize everytool possible to help the agent become successful. No sense in just contracting agents with insurance companies, unless you are just looking to brag about how many agents are contracted with your agency.

If only insurance companies would learn that lesson that the agent is their 'customer" If agents choose not to place business with them, they would have no "policyholders".

 

[Insexpert1]

It is direct with 120% But the service to the agents sucks....Even when you ask the operator that you need to discuss about a new business , that person will transfer to someone else and another transfer another transfer am still holding 8 minutes and 16 seconds....
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Oxford needs to get a kindergarten level education on this!
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12 minutes and 39 seconds and still waiting! Thanks OXFORD for telling us that
"Direct Underwriter Support"......
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Still no one was able to anwser the California 24 Hour Notice , the guy put me on hold 30 minutes and 16 seconds...OXFORD GENIOUS