Final Expense Company Selection

[mudhound]

Currently: I use SNL for good cases
Trans for COPD and height weight issues
AIG and United Life for GI or sort of GI

 

[DayTimer]

Currently: I use SNL for good cases
Trans for COPD and height weight issues
AIG and United Life for GI or sort of GI

I wish I had SNL in PA. I can't tell you how many times I have had a difficult case and when I ask for suggestions the answer is always "SNL all day long"

That's a nice, simple, clean line up @mudhound

 

[Baseball7]

SNL is great but what don they really do that's truly unique?

 

[Baseball7]

AmAm, the Texas based carrier, may be a major player for us this year with a couple of their recent additions.

For example?

 

[rousemark]

SNL is great but what don they really do that's truly unique?

Don't know that they do anything unique but they do a lot of things right... Simple app, no POS, decent commission, most problems handled by phone or email, 10% lead credit, if a person uses the Security Care plan, then you have a product for almost every age or situation..

 

[Baseball7]

The companies that are extremely medically liberal and are able to cover almost all my business as key to me. If the rest of there process is cumbersome I'd trade that for all they take. If LBL had an Eagle Premier app process they'd corner the market for example. I think some of these companies know this and choose to keep a smaller share in the market. But I'm sure many other companies are totally clueless to our world and the clients that buy FE.

 

[Cps10]

But, seriously folks! I use LBL as my primary FE carrier. They can take just about everything I throw at them with generally favorable underwriting and competitive rates. And since I also write home service (debit), I can do both with the same company, so I can pivot from one to the other as needed.

The rest of my business gets scattered among some other carriers with their particular niches. The biggest part of that goes to Central Security (a regional carrier that's only in half dozen states).

For my prospects with bigger health issues, I've recently been writing some people with United Life on their graded policy, that would previously have gone to Gerber or AIG. I don't really like their chargeback rules, but it's a better option for the clients that qualify, so I'm willing to risk it for their sake. (If I end up in chargeback hell over it, though, I'll probably change my mind!)

Who do you write your home service debit with?

 

[shonceman]

Who do you write your home service debit with?

Mostly LBL. But I also have a handful of cases with SNL home service division, and a few more with a couple of now defunct companies that NGL took over. Besides those I have a number of clients with a stipulated premium company (in Texas only) that I collect.

 

[Abrasax]

SNL is great but what don they really do that's truly unique?

I think SNLs greatest feature is their modified SSP. They can answer yes on up to 3 questions and still qualify. You still get the lead credit, instant decision and the other benefits of dealing with a smaller agent focused company like SNL.

It sure beats writing AIG. They make a good bread and butter company but for most people in decent health you could just as easily write another competitive company like LBL for similar prices.

The benefits of SNL are on the agents side. Simple underwriting, short app, instant decision, lead credit.

I think SNL realizes you don't sell insurance by making it attractive to customers but by making it attractive to agents. There are a couple companies in Florida that bust prices by$30/mo but you'll never see it out in the field because nobody will write it for 50% commissions.

 

[MedicareMillionair]

Here's Newby's suggestion for all new agents:

Step #1- Choose a main company that you love and can place a large percent of your cases with at preferred rates.

Step #2- Study your company and learn the "triggers" that would make you have to use another company. Make a list of each condition that causes you to trigger away.

Step #3- Figure out ahead of time for each trigger, which company will be good for that condition.

That's today's free Monkey Dust.

Your step 1, 2, and 3 are words of wisdom. I always carried a price beater in my bag as well.