Easy/hard?

[HoosierLife]

in my experience on the volume side of the business

when the business is clean the fastest paying carrier is Americo

48-72 hours is what the majority of these carriers are from submission to issue.... then it all depends on how you are set up for being paid...

Well that must be an Equita deal, cause Americo takes forever to get paid on for me. I delivered a policy last Monday and just got paid on it today. But this last week was the 4th.

5 star, when it doesn't take them 3 weeks to go through UW pays the day the policy is issued.

Seems like I always got paid quickest with RNA. Submit the app on Monday and paid by Thursday or Friday.

 

[Ryan Caras]

Well that must be an Equita deal, cause Americo takes forever to get paid on for me. I delivered a policy last Monday and just got paid on it today. But this last week was the 4th.

5 star, when it doesn't take them 3 weeks to go through UW pays the day the policy is issued.

Seems like I always got paid quickest with RNA. Submit the app on Monday and paid by Thursday or Friday.

just so you know last week was a big problem with the holiday running in on a Thursday.... it affected everyone i know in the business... but now things should be back to normal by the end of this week...

holidays use to be fun but now they are just an extra delay in all of us getting paid

 

[jacobtn]

I respectfully disagree with your carrier choices. In fact, they are the toughest to deal with in my opinion, with the exception of continental.

Americo = worthless (decent smoker rates, no rate up for smokeless tobacco, however very hard to deal with, lousy customer service, UW constantly rated up to UP3) no point of sale approval so they keep you guessing

Monumental = super difficult to work with, no point of sale approval so they keep you guessing, amend everything other the sun, rates very high unless client is very old. Is only good for folks with anxiety and schizo, as well as underwriting niches (can get level coverage with Parkinsons and Heart attack/surgery over 12 months ago). It is nice that they don't cut commissions on 80+ or on modified policies.

Foresters = long PHI, horrible customer service, medication list/combinations that will cause cases to go graded a MILE long. Niche is folks that want higher face amount (go up to 35k ages 80 and under), diabetic prior to age 40, and people that want ADR.

RNA = worthless, no value other than member benefits

UHL = worthless, overpriced

American Cont = great for older folks (they write up to age 89!) Start at age 45 so you can catch a few of the younger ones. no MIB or script (dual purpose drugs won't catch you sideways) quick painless phone interview. Will do effective date 6 months out from app date (most only do 30) Negative = commission levels are lower than others.

You left out 5 star, to me they are better than all the carriers mentioned. Monthly bill available, no rate up for smokeless tobacco, rates based on app sign date not eff date, fair and predictable underwriting, rates on par with Foresters, great company history and company brochure. I only wish they would have a lower min face (5,000) and a higher max face (25,000).

Give me 5star, Foresters, and ACI, and I can write just about anyone. I'll take Monumental as well for the oddball situations. Don't need anyone else.

You will never find the perfect product for all circumstances... I always describe FE companies as being similar to cell phone companies... they are all very similar but each has their own bit of spice that makes them different....

IMO here is how I would describe some of the most used FE products in the industry:

Americo: best customer service in the industry, fast in home with no PHI, and pays on issue (with only specific IMO's), very appealing compensations, super competitive rates

Monumental: great underwriting with great app... good rates... good company to do business with. Pays level comp on older aged clients (very rare in this business)... pays on issue

Foresters: good product that has changed a bit over the years, but still very easy to issue with speed with their PHI.

RNA: still has a sweet spot with their new rates in certain age brackets... great member benefits (i used them for myself when i got lasik done one my eyes). Pays on issue as well

American Cont.: not much comp but very easy use...

UHL: best rates for women in the country... they also are very unique that they don't rate your commission on graded business...

 

[tins]

American Cont = great for older folks (they write up to age 89!) Start at age 45 so you can catch a few of the younger ones. no MIB or script (dual purpose drugs won't catch you sideways) quick painless phone interview. Will do effective date 6 months out from app date (most only do 30) Negative = commission levels are lower than others.

This may help me. Do you know Am Con's minimum death benefit? I need someone below 5k.

 

[HoosierLife]

This may help me. Do you know Am Con's minimum death benefit? I need someone below 5k.

Monumental goes down to 1K I think. Dang it, I just posted how I was gonna kick them to the curb and I remember one other reason to have them lol.

 

[SirAlexFerguson]

Monumental goes down to 1K I think. Dang it, I just posted how I was gonna kick them to the curb and I remember one other reason to have them lol.

$1,000??? What's the commish on something like that? $1.98? And does Rip Taylor deliver it in person (Now THERE'S a reference for the over 45 crowd!)
SAF

 

[jacobtn]

$1,000??? What's the commish on something like that? $1.98? And does Rip Taylor deliver it in person (Now THERE'S a reference for the over 45 crowd!)
SAF

that actually is higher than that on an 80+ male, esp tobacco on graded or level standard... although I agree 1,000 is something that very few agents would ever sell. $2-4k I have written several times on older people that just needed a few more grand.

 

[HoosierLife]

$1,000??? What's the commish on something like that? $1.98? And does Rip Taylor deliver it in person (Now THERE'S a reference for the over 45 crowd!)
SAF

Well it's obviously low, but $1000 for 80 MT is $25.66 lol..and that's preferred.

Funny enough std and graded are both $34 and some change.

 

[TDFnCali]

$1,000??? What's the commish on something like that? $1.98? And does Rip Taylor deliver it in person (Now THERE'S a reference for the over 45 crowd!)
SAF

Commish isnt based on policy face amount (FA), its based on premium.....so say u got an 85yr old male smoker that takes insulin, $1000 maybe all he can afford & with monu thats standard & over $40/mo. Not a bad payday!

 

[tins]

Monumental goes down to 1K I think. Dang it, I just posted how I was gonna kick them to the curb and I remember one other reason to have them lol.

Lady was declined at Standard with Monu for a script hit. It was for a 2k death benefit, but $350AP.
If I can find another company without script check that goes to 2k, that would be lovely.
So, anybody. Does Am Con go down to 2k?