Fastest Carrier for Term Sales???

Apr 5, 2016

  1. 401Kslayer
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    401Kslayer New Member

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    I have been selling term insurance over the phone from home for the past 5 months. The main carriers I work with are AIG, ANICO, and LSW. They all take 2 months to get a deal issued and paid. Are there any insurance companies that can get deals closed in a week or two????
     
  2. Baseball7
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    Baseball7 Guru

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    Med or non-medical?
     
  3. thomasm
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    thomasm Guru

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    You need to join Jeff Root's community before they close it to new members again.

    They talk all about this.

    SellTermLife.com
     
    thomasm, Apr 5, 2016
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  4. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    Are you timing this from the time when you submit the application? Or from the time the paramed and APS requirements are received by the insurance company?
     
    DHK, Apr 6, 2016
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  5. NinjaNic
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    NinjaNic Guru

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    Give Jeff or I a call, there is WAY more than just the carrier involved with phone sales. App process, exam ordering, nonmeds, esign vs. voice, automation, eprocesses, etc....
     
  6. 401Kslayer
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    401Kslayer New Member

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    From submission all of my cases take 2 months to get issued.

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    I do both. Everything I put through AIG is medical. ANICO and LSW are non-med up to 250K. Even though ANICO is non-med they order APS reports on EVERYONE. The process is exhausting. I wait 2 months just to find out I'm not getting paid. There has to be a better way.

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    Yes, I do all of that myself. I order the exams, send the e-App, do the follow-up, etc.....

    Everything is done efficiently on my end, but the UW process is so lengthy. Who can wait 2 months just to find out they aren't getting paid?!
     
  7. pfg1
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    pfg1 Guru

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    Do you think it has to do with your market?
    I do some with LSW, granted not a ton... honestly I've never had an issue. Last one took me longer to deliver than underwrite. It was done in 3 weeks, took me a month to get with the client to deliver.

    I have not done ANICO ... if non-med, why are they ordering APS every time? Seems like that would only come into play if MIB showed cause.. but idk.

    DHK, you use ANICO... do you run into many issues there?


    Truly, most of my cases are done typically in about a month. I have had a few drag on, but often its due to the client dragging their feet on medical, etc.
     
    pfg1, Apr 6, 2016
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  8. WinoBlues
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    WinoBlues Guru

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    That.

    Nic are you recruiting?

    Lee
     
  9. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    I only start timing once all the requirements are in. Until then, it doesn't matter. I don't have many issues, generally 2-3 weeks when we're talking about over $250k once all the requirements are received. $250k and under is express underwriting and a decent turn around time.

    I don't blame companies for not making a decision until they CAN make the decision.

    BTW, ANICO just released some new underwriting requirements. I think it affects the larger sized policies rather than smaller ones, but I only glanced at it.
     
    DHK, Apr 6, 2016
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  10. Mattschmidt
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    Mattschmidt Guru

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    8 weeks is fairly normal if dealing with multiple APS. unless you are workomg with Nonmed plans that dont require medical records.

    Up to your IMO to get those records quickly
     
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