Hybrid LTC IMO

Jul 24, 2019

  1. Tothetop
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    Tothetop Super Genius

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    Working directly is different than contracting directly. I work directly with all my carriers, as I do now. I can't contract directly with all carriers however. One America is one example. Pacific Life however offered me a contract directly.

    If I need an IMO or BGA to get a contract and they get an override on my sales, they better bring something to the table and like you said stay out of my way when I don't want to hear from them.

    I don't know your friend so I cant say if he is lying or telling the truth. I only know what I was told by One America up to a few months ago.
     
  2. ltcadviser
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    ltcadviser Guru

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    Yes, I know what you were told.
    There are reasons for that.

    I could give you the names of two BGAs that might be able to bring something to your table, but I really would love to know what you want that to be?
     
  3. Tothetop
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    Tothetop Super Genius

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    You confirmed one of my options earlier and I appreciate that.
     
  4. ltcadviser
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    ltcadviser Guru

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    Sure, however you probably have better options if you seek something other than running quotes and processing.

    Good luck.
     
  5. Tothetop
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    Tothetop Super Genius

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    Ok. Thanks
     
  6. CottonFarm
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    CottonFarm New Member

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    If a producer's objectives were the following, what IMO partners would be a good fit?
    1. Establish contracts to gain broad access to traditional and hybrid carriers.
    2. Earn highest producer commission
    3. Provide direct access to carrier underwriting and stay out of the way.

    Are there carriers that allow for direct producer contract appointments? If yes, what are some basic conditions?.......production requirements, experience, etc.
     
  7. Tothetop
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    Tothetop Super Genius

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    LTCR is a long-term care focused IMO with very competitive contracts and with no hand holding. You do everything on your own. Thats why they offer the contract levels they do. I have never dealt with them but this is what they told me.

    There are other IMO's like Ash, Crump, LTCI Partners, Financial Independence Group but they have case managers to my knowledge.

    Lincoln, Pacific, & Nationwide offer direct contracts. No requirements. OneAmerica offers personal producing general agent contracts but there are premium requirements that go beyond your typical LTC sales.

    Hope this helps.
     
    Last edited: Jul 30, 2019
  8. ltcadviser
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    ltcadviser Guru

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    See, It looks like you are getting better information now.
     
  9. ltcadviser
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    ltcadviser Guru

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    How much premium can you produce?
     
  10. Tothetop
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    Tothetop Super Genius

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    Pointless question. Not much wiggle room for hybrid products and traditional products is really only MOO for the win so if you produce an IMO would bump you up.
     
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