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EFES Terminating AmAm Without Giving Me Notification....
- Thread starter summerof18
- Start date
- 1,011
AA- not priced very well and their "easy" product line is not easy
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Thats because their agents were giving away the free AD and placing business elsewhere
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Thats because their agents were giving away the free AD and placing business elsewhere
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AA has been a despicable company for well over 30 years that I'm aware of.
If people knew more about their history they would never have contracted in the first place.
As others have stated, good riddance. Why not just terminate yourself now?
If people knew more about their history they would never have contracted in the first place.
As others have stated, good riddance. Why not just terminate yourself now?
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I sold a couple cases with them then found out about their history with the military. Never again.
For those not familiar with the case, here is a link, AA tried to claim that it was a few "rogue agemts" but notice this report points out that "Senior Staff" trained the agents. It was company wide and was a deliberate effort.
American-Amicable Life Insurance Company of Texas; Pioneer American Insurance Company; and Pioneer Security Life Insurance Company: Lit. Rel. No. 19791 / August 3, 2006
If they were the only company that I could place business with, I would get out of the business.
- 19,673
I remember you posting that stuff about them before. I already didn't like them when you posted it.
There was a time that if EFES could have told agents what company to write they would have told us to write AmAm. They absolutely loved AmAm. I never could figure that out.
EFES finally woke up.
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LOL The end of this post is amusing. They had their issue with the military product about 10K years ago. Agents seem to love to hang onto negatism for sooooo long.
In reality...EFES was the only company that lowered the comp on Graded and ROP with AmAm. (not sure what AA is?) Every other agency past FULL COMMISSION on ROP and Graded. They are the ONLY carrier that does that.
Could it be that AmAm got fed up with getting little business from "the agency" and decided to cut ties after years of treating them like gold? Just a guess.
Yes...their customer service blows but their website trumps all that. They have the best website out there. They email you on EVERYTHING. Their contracting is less then a week. They pay fast. They draft on the 1st, 2nd, 3rd and 4th Wednesday of the month which they are the only carrier that does that.
They have the best smoker rates too.
RNA? Their change had nothing to do with EFES. It had everything to with the fact that they were one of the lowest in the market a nd a few bad agents/agencies had some pretty crappy business and debt with them so they had to make a change.
I TOLD EFES a long time ago that Foresters was not the go to carrier. They knew that too. Thats why EFES lowered the comp 5 pts with them. But agents, like every other agent, continued to write them. There is audio where I stated to my agents at the time, NOT to make Foresters their "go to" company as they are going to change. Some didn't listen and 2 years into it, I was on a call with EFES leaders and my agents and Foresters higher ups when they began to explain that they were capping adv commission debt. They also started terminating bad agency's. They were taking longer and declining more apps.
To end...AmAm is probably one the most solvent and highest capital carriers in our business right now.
In reality...EFES was the only company that lowered the comp on Graded and ROP with AmAm. (not sure what AA is?) Every other agency past FULL COMMISSION on ROP and Graded. They are the ONLY carrier that does that.
Could it be that AmAm got fed up with getting little business from "the agency" and decided to cut ties after years of treating them like gold? Just a guess.
Yes...their customer service blows but their website trumps all that. They have the best website out there. They email you on EVERYTHING. Their contracting is less then a week. They pay fast. They draft on the 1st, 2nd, 3rd and 4th Wednesday of the month which they are the only carrier that does that.
They have the best smoker rates too.
RNA? Their change had nothing to do with EFES. It had everything to with the fact that they were one of the lowest in the market a nd a few bad agents/agencies had some pretty crappy business and debt with them so they had to make a change.
I TOLD EFES a long time ago that Foresters was not the go to carrier. They knew that too. Thats why EFES lowered the comp 5 pts with them. But agents, like every other agent, continued to write them. There is audio where I stated to my agents at the time, NOT to make Foresters their "go to" company as they are going to change. Some didn't listen and 2 years into it, I was on a call with EFES leaders and my agents and Foresters higher ups when they began to explain that they were capping adv commission debt. They also started terminating bad agency's. They were taking longer and declining more apps.
To end...AmAm is probably one the most solvent and highest capital carriers in our business right now.
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That's pathetic!!! They should've sent those agents and the people that trained them to do that over to Afghanistan to serve with the soldiers they screwed!! Also, that $10,000,000 settlement only comes out to $175 each! AmAm should've had to refund the premiums!
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Could that have anything to do with all the money they got from screwing the members of our military?
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