FE Sales Leaders?

[nfl72]

All this talk about Foresters, Americo RNA etc has me thinking a littttle bit. Becasue of what I hear about Jd and some others in this forum, I have to respect their opinions and I do very much but that being said

Are their any sites that tell how many policies different companies write. I would think AARP, Mutual of Omaha, Globe and Colonial would be the leaders because of the advertising they do but not counting them who sells the most?

Considering RNA, Foresters, Mounumental, Americo, Motorists etc; who writes the most policies in the FE arena? Anybody got any accurate numbers?

 

[jdeasy]

All this talk about Foresters, Americo RNA etc has me thinking a littttle bit. Becasue of what I hear about Jd and some others in this forum, I have to respect their opinions and I do very much but that being said

Are their any sites that tell how many policies different companies write. I would think AARP, Mutual of Omaha, Globe and Colonial would be the leaders because of the advertising they do but not counting them who sells the most?

Considering RNA, Foresters, Mounumental, Americo, Motorists etc; who writes the most policies in the FE arena? Anybody got any accurate numbers?

I don't know of anywhere that could be tracked. I would imagine that Foresters would be way down the list though. They are just a bit player in FE. They have only had their FE product on the merket for about 2 years. As they phase in their changes to the application they will fade away from where they are now.

Motorists won't even register. They are also a bit player. At one time Shenandoah claimed that they were the number one FE provider. Who knows if that was true?

 

[wave828]

Colonial Penn, Lincoln Heritage, Baltimore Life and Bankers Life are the largest writers of final expense. They each do over $20M of new premium a year (some do substantially more than that). Note that only Baltimore Life has an independent sales force (the others are captive and/or direct marketers).

American Amicable, Foresters, RNA, Oxford, Americo, Foresters, Monumental are in the next tier of premium sold each year.

It's estimated that $300M of new premium per year is generated in the marketplace, but it's difficult to pinpoint the numbers because companies that publicly report results lump these policies in with their other WL results.

 

[Newby]

I don't know how you could get accurate numbers on that. And biggest certainly isn't the best.

Funeral homes nationwide probably see more ForeThought policies paying for funerals than any other brand but that is because they sold Preneed insurance so aggressively for over 25 years.

We see quite a bit of AARP and MOO GI policies that are less than a year old at the funeral home. I guess people take a chance on them when they are terminal.

Settlers is the only company I know of that publishes what % of claims get paid after contestability. It's something like 98.6% (from memory). I see that as a sign of a quality company. I bet some FE companies are WAY below that.

 

[nfl72]

Bigger isn't always best?

The Chevy Citation was the best selling car in the world and it wass the best front wheel drive ever made. And then you have the vega and pinto! Those were all great cars!

 

[rousemark]

I don't know of anywhere that could be tracked. I would imagine that Foresters would be way down the list though. They are just a bit player in FE. They have only had their FE product on the merket for about 2 years. As they phase in their changes to the application they will fade away from where they are now.

Motorists won't even register. They are also a bit player. At one time Shenandoah claimed that they were the number one FE provider. Who knows if that was true?

Yeah .. and Shenandoah had an A+ Best rating in 2008.. So much for ratings.

 

[jdeasy]

Yeah .. and Shenandoah had an A+ Best rating in 2008.. So much for ratings.

They were a B rated company when they failed.

 

[sellinmachine]

Were'nt the same people rating ins. companies also rating VERY POORLY managed investment banks? Hmmmm....

 

[VolAgent]

They were a B rated company when they failed.

I'm sure that is great consolation to the people who bought a policy in 2007 or 2008 when they were A+. If only they'd known that Shenandoah was about to be downgraded.

 

[jdeasy]

I'm sure that is great consolation to the people who bought a policy in 2007 or 2008 when they were A+. If only they'd known that Shenandoah was about to be downgraded.

Yeah since my intent was to console people with Shenandoah policies??