Graded/GI options

[HoosierLife]

Well said. For new agents this really can get confusing. I don't know your thoughts on this, but I've always thought a new agent should find 3 carriers and work with them initially. Even though it may not be what's best for the customer in every situation, it'll help you in the big picture.

Seems like to many new agents look to pick up a new carrier for every customer and it causes confusion and chaos for them but even worse they lose sales by over analyzing!

I start my agents with 3 core carriers with one being their go to, a price buster and GI. Let them master those and we can add more down the road.

Yes too many agents try to pick up carriers for a 1 off situation. Going back and forth trying to find the best policy for the client. All the while they could have written 5 other policies and stayed in this business to help 1000s more.

Now theyre living in a van..wait nevermind.

Now they've failed out for all their searching.

Just write what's in your bag!!!

 

[HoosierLife]

Yes

So I should have a general line, vanilla carrier---good rates, easy app (good for the client AND the agent) good commission rates, I have that

And a GI carrier--I have that--with Gerber.

What I am hearing (I think) is its good to have a third in the mix for those hard to underwrite but dont have to go all the way to GI. I USED to use Transamerica, but I got sick to death of the 178 page application--way too many ways to make a mistake and it ticked off the clients. (HOW LONG can this TAKE?)

So to sum the feedback I am getting is--replace Gerber with AIG? Correct?

And for the middle one for Graded/Modified (yes I did not realize there was a difference but I do now)--whats a good bet? Or is there one that does Graded/Mod AND GI?

Yes replace Gerber with AIG. There are many carriers that have a graded/modified product, but none that I know of that have a GI carrier built in, except UHL, but their GI is horribly over priced and a 3 year wait.

A good graded carrier would Balt Life. 25/50/100 and full comp.

Who is your go to carrier? That will change who should add for a second.

 

[tribetime32]

AIG is GI. You can get a street contract anywhere at 80% & 6-month advance.
UHL only has 1 or 2 easy questions so it's basically GI. Problem with this product is they won't like for you to only sell it & not their other Level SIWL plan & there are a lot better products out there.

UHL considers this Express issue whole life and my understanding is that they do not care about how many you write in proportion to the deluxe or premier product. They have a true GI product as well but it is way overpriced and on that one they do cut comp and also care about how much you write of those in proportion with the other product.

 

[rousemark]

I start my agents with 3 core carriers with one being their go to, a price buster and GI. Let them master those and we can add more down the road.

Yes too many agents try to pick up carriers for a 1 off situation. Going back and forth trying to find the best policy for the client. All the while they could have written 5 other policies and stayed in this business to help 1000s more.

Now theyre living in a van..wait nevermind.

Now they've failed out for all their searching.

Just write what's in your bag!!!

Just curious.. What three carriers would that be in most cases?

As for writing what is in your bag, could not agree more.. Unfortunately, I am one who has always had a tendency to paralysis by analysis..

 

[HoosierLife]

Just curious.. What three carriers would that be in most cases?

As for writing what is in your bag, could not agree more.. Unfortunately, I am one who has always had a tendency to paralysis by analysis..

Americo, RNA and Trans. Then Lifeshield and AIG.

 

[Jon Dough]

Americo, RNA and Trans. Then Lifeshield and AIG.

Theres not a contact email on the AIG site just "get a quote"---is there an email I can start the process, get rates etc. Do most FMOs have AIG? Pardon my ignorance, I know they are enormous but have NEVER run in to them!

 

[Todd King]

Theres not a contact email on the AIG site just "get a quote"---is there an email I can start the process, get rates etc. Do most FMOs have AIG? Pardon my ignorance, I know they are enormous but have NEVER run in to them!

Yes, most of us that deal with any type of FE products have AIG available.

 

[HoosierLife]

Theres not a contact email on the AIG site just "get a quote"---is there an email I can start the process, get rates etc. Do most FMOs have AIG? Pardon my ignorance, I know they are enormous but have NEVER run in to them!

I have Fexquotes on my website, I will message you a link that you can run quotes. Just switch it from level to Guaranteed Issue.

 

[NSRH]

Its been a rather new concept on the forum, but agents choosing a carrier that will pay full comp for graded/modified business is great practical business advice.

Some agents dont even pick up a GI for many reasons. Heck, even some IMO's/Captive carriers that write millions in premium dont have a GI product.

 

[HoosierLife]

Its been a rather new concept on the forum, but agents choosing a carrier that will pay full comp for graded/modified business is great practical business advice.

Some agents dont even pick up a GI for many reasons. Heck, even some IMO's/Captive carriers that write millions in premium dont have a GI product.

I don't know that it's new. There's just too many groups that push the lowest price possible at all times. That's great for the client and carrier, but not always good for the agent/IMO.

We are running a business here.