Help with FE Client...

[WinoBlues]

As long as you just see it as business that you weren't going to get anyway and don't count on it sticking, it's OK. I've had them a year and I've written VERY little with them. Big window for chargebacks even on an as earned basis.

One of the forum regulars is getting ready to offer contracts for them and make it easier to contract. It was hard to get through when I did it.

Why was it so difficult to get contracted with them?

Lee

 

[jmarkk1]

I was just getting ready to post something in the offers section now that we can offer Vantis contracts. This person would be a perfect fit for the product.

With regard to the chargeback provision, it is 100% for months 1-12 and 50% months 13-24. I don't really mind the chargeback provisions if it will help keep the pricing in line. At this point there is nothing that's even close to it that an independent agent can sell. Pricing is within a buck or two either way of MOO depending on their age since MOO bands the ages.

Can you email me contract info?
[email protected]

 

[Newby]

Why was it so difficult to get contracted with them?

Lee

They are mainly sold through banks. The whole idea of these low priced GI plans is they want healthy people to sign up to offset the terminally ill GI cases. Bank employees will offer it to everyone and don't know any better.

FE insurance agents will adverse select and only sell it to people that it actually makes sense for. MOO sells as many of their GI plans to healthy people as they do to unhealthy. That's why they don't want agents involved. They want the public to act out of ignorance.

Brad Aden (360 Financial) WIN - got us in the door to test it out. It literally took 6-months for me to get approved with Vantis.

Now Brad has a deal with them where he CAN contract FE agents and they CAN only place GI business with them. It's a great thing for FE agents to have but just DON"T spend the money until you are clear (100% 1st year, 50% 2nd year, clear 3rd year.)

Look at it as EXTRA money, not your bread and butter and you will be fine.

I would get contracted with Brad ASAP because I know it is going to scare Vantis to death with the volume of new agents he can bring in this program.

 

[Rearden]

JD -- gonna offer ROP through Vantis now?

I'm not sure if UHL precludes nursing home or not. Vantis and Americo will allow them to be in a nursing home and still provide coverage. Vantis will be close to the price of MoO. Americo will be 3 times the price of MoO.

 

[BenS]

JD -- gonna offer ROP through Vantis now?

Isn't allowed if using securus leads, is efes the same?

 

[jdeasy]

JD -- gonna offer ROP through Vantis now?

Nope, it's been available to me for almost tow years now. Never pursued it and won't now. I will continue to give the number for MoO.
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Isn't allowed if using securus leads, is efes the same?

No such restrictions with EFES. I even said on an EFES training call that I do not write ROP and refer it out. I used to put stuff with 5 Star that couldn't be written through an EFES carrier. Everyone that matters at EFES knew I was doing that. No one ever told me to stop.

 

[BenS]

Nope, it's been available to me for almost tow years now. Never pursued it and won't now. I will continue to give the number for MoO.
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No such restrictions with EFES. I even said on an EFES training call that I do not write ROP and refer it out. I used to put stuff with 5 Star that couldn't be written through an EFES carrier. Everyone that matters at EFES knew I was doing that. No one ever told me to stop.

Interesting... Securus makes their agents sign off that all policies written as a result of their leads must be written through them, including referals. I would have assumed efes does as well considering they subsidise leads? Or do they just look the other way in the case of ROP business?

 

[TDFnCali]

Nope, it's been available to me for almost tow years now. Never pursued it and won't now. I will continue to give the number for MoO.
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No such restrictions with EFES. I even said on an EFES training call that I do not write ROP and refer it out. I used to put stuff with 5 Star that couldn't be written through an EFES carrier. Everyone that matters at EFES knew I was doing that. No one ever told me to stop.

From my understanding, u cannot use non EFES carriers for EFES leads and they really want u to bring ya broker biz to them or at least give them a chance before u take it elsewhere. JD, cause of his status, may have a diff arrangement!

 

[BenS]

From my understanding, u cannot use non EFES carriers for EFES leads and they really want u to bring ya broker biz to them or at least give them a chance before u take it elsewhere. JD, cause of his status, may have a diff arrangement!

That is true... With the amount of premium he writes, he's probably owns part of the company and makes his own rules

 

[komputroniks]

I'm still pretty new to FE, but I was hoping to get some input from you guys....

I have a client that wants to buy a FE policy for their mom....something around $5k or $10k.

Her mom is 65 and is in nursing home because she has history of mental illness...bipolar. She's pretty heavy, but doesn't seem to have any other issues.

What are my options? I have contracts with Forethough, Monumental, Baltimore Life, Foresters, and RNA.

NGL. Will do it.is a funeral trust but is better than nothing