Great American Companies Exit the Final Expense Market

[SportsNut]

Per their email today: Effective August 1st, Great American Supplemental Benefits Group will be exiting from the Senior Life/Final Expense market.

This includes Loyal American Life, United Teachers Associates Life, Central Reserve Life, Continental General, and Provident American.

Seems like final expense is a rather difficult market in which to be profitable, from the ins co perspective. I have wondered how this plays out many times, as I have seen policies being approved that simply didn't seem there would be any way to make money on the risk long term.

 

[The Hunter]

I Read That Baltimore Life Is Looking For More Profitable Products To Market.

 

[Newby]

From my discussions with them, they know they went wrong with the phone apps. They told me 6-months ago not to actively appoint agents with their FE because they were slowly getting out of it.

Their Med Sups are their strong product.

 

[SportsNut]

From my discussions with them, they know they went wrong with the phone apps. They told me 6-months ago not to actively appoint agents with their FE because they were slowly getting out of it.

Their Med Sups are their strong product.

That's funny... I recently ran into Carl Lindner and he didn't mention anything about this to me.

 

[theinsuranceman]

Looks like all these FE co.'s that have low, low premiums are not charging what they should be charging....