Government Contract for LTD, STD, and Life

[MDInsuranceguy]

Hi everyone,

I also made the same post in the general forum; I need some information for a couple of RFPs I'm working on and what carriers write LTD, STD, and LIfe products for these types of government account. Any info would be much appreciated. Thanks

 

[leevena]

Could you clarify govt? Big difference between a city/town, the state, and the feds.

 

[MDInsuranceguy]

One is a county that's requesting coverage for it's employees (sherrif dept, jail, library) and the other is a state agency looking for the same type of coverage.

 

[leevena]

Don't want to disappoint you, but. I assumed (and I maybe wrong) that since you were asking about this, you may be new to this market.

First thing I would do is read the rfp and see if they are willing to pay commissions. Some govt/quasi-govts do not allow for commissions.

The second is to call the carriers (don't know size/location so I cannot tell you who to call) you would normally use and see if you have been blocked from getting a quote. You mentioned that "you were working on a couple of RFP's" which leads me to believe that you have had them for awhile. Often times the carrier will only accept one request.

As for the groups, these can be very difficult and sometimes not worth it. To begin with they usually demand much of your time since they will see themselves as "key" accounts of yours. Secondly, since it is political, many things can happen that are out of your control. Rule of thumb, is if you have a personal connection (say you live nearby) you stand a better chance. And last, many of the bigger brokerage and/or consulting houses troll this market. You could be up against significant competitive pressures.

Good luck.

 

[MDInsuranceguy]

Don't want to disappoint you, but. I assumed (and I maybe wrong) that since you were asking about this, you may be new to this market.

You are absolutely right and thanks for the info