Final Expense - Telephone
- Thread starter sacagent
- Start date
Hi all,
Besides Baltimore Life, anyone know of any other companies that an agent can do Final Expense over the telephone? Thanks!
There are quite a few that can be done over the phone, but not many that can do the whole process from start to finish. If that is what you are looking for there are a few options. I believe...
Senior Life
Liberty Bankers
yo name a couple
- 407
Add SLAICO to that list (Standard Life and Accident Co.)
- 1,311
Equitable's new final expense product goes live next week and is 100% by phone with their operator taking all of the information.
Anyone has any insight on the carrier?
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Equitable, while having decent name recognition, is not a highly rated carrier. I believe they are only B Rated by AM Best.
Many states have state guarantees on life insurance. If your state has it, the ratings are a mute point. The question in my mind would be how fast they pay claims.
The main question would be are they just another middle of the road carrier for FE or do they have a niche. Are the rates considered low for who they take and don't.
Good on diabetics with reasonable control and copd [with no oxyg use]; both immediate covg on FE. Also decent on med supps for certain situation.
The tele-u/w is good because at the end of a 20 min call you receive an approval along with policy #. Not a piece of paperwork required unless there is a replacement or your state requires repl forms regardless, like OH. They are cheaper than Monu for similar health conditions for Std rate immediate covg on copd.
Drawbacks... AM Best Rating and rates are not competitive if client can qualify for other companies. But if comaring Equitable at immediate covg to another company as graded covg then prem becomes secondary consideration in most cases.
** One of the most Agent friendly companies that I've ever dealt with. Contracting-appointment within the same day; super friendly and efficient home offc staff.
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I see, well that is good to know. AM best ratings does matter, but is rarely a thing people bring up.
I don't see a need for them, but I might be adding SNL since the rates are very competitive with no PHI. I like the Copd with no oxygen, but Monumental has that and would rather deal with them. They have been excellent for efficiency and issuing policies.
SNL has a lead program where they pay half your costs every 2500 in ap.
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