IMO in Midwest

[Allen Trent]

Hi there. Also posted this in general Life insurance section, but later thought maybe FE might be better.

Need suggestions for good IMO that might be willing to contract with a Multi Line carrier & their 400+ agents.

Agents already write proprietary PC, term, WL. SPWL, SPIA and fixed MYGA annuity. The access to the IMO would be mainly for the following situations:

* Final Expense small face permanent
* Guaranteed issue
* Simplified Issue
* Unique Term situations that the proprietary Term doesn't offer, ie 15yr, 25yr
* Possibly unique underwriting issues that national term carrier might have an appetite for
* Equity Index Annuities
* Possibly DI-- agents already have access to several DI carriers

This is more for client accommodation where the situation warrants as the agents prefer, when possible, to write the proprietary life products due to compensation schedules tied to their PC book of business. The agents already can access dozens, if not hundreds of PC carriers for risks outside of the proprietary offerings of the carrier through a General Agency subsidiary

any suggestions?

 

[jasperjohns]

Hi there. Also posted this in general Life insurance section, but later thought maybe FE might be better.

Need suggestions for good IMO that might be willing to contract with a Multi Line carrier & their 400+ agents.

Agents already write proprietary PC, term, WL. SPWL, SPIA and fixed MYGA annuity. The access to the IMO would be mainly for the following situations:

* Final Expense small face permanent
* Guaranteed issue
* Simplified Issue
* Unique Term situations that the proprietary Term doesn't offer, ie 15yr, 25yr
* Possibly unique underwriting issues that national term carrier might have an appetite for
* Equity Index Annuities
* Possibly DI-- agents already have access to several DI carriers

This is more for client accommodation where the situation warrants as the agents prefer, when possible, to write the proprietary life products due to compensation schedules tied to their PC book of business. The agents already can access dozens, if not hundreds of PC carriers for risks outside of the proprietary offerings of the carrier through a General Agency subsidiary

any suggestions?

Wouldn't 400 plus agents be enough for your own IMO rather then contracting under one? Or Partners Advantage is a large FMO that works with many IMO's. 400 plus agents is enough that they would probably work with the group and offer IMO level contracts. Crump would be another.

 

[Tahoe Ray]

Wouldn't 400 plus agents be enough for your own IMO rather then contracting under one? Or Partners Advantage is a large FMO that works with many IMO's. 400 plus agents is enough that they would probably work with the group and offer IMO level contracts. Crump would be another.

Crump was my first though too.

 

[Allen Trent]

Wouldn't 400 plus agents be enough for your own IMO rather then contracting under one? Or Partners Advantage is a large FMO that works with many IMO's. 400 plus agents is enough that they would probably work with the group and offer IMO level contracts. Crump would be another.

Starting own IMO would be too much distraction from core proprietary products. Plus, keep in mind the production is somewhat limited on an individual agent basis. The agents issue about 10,000 proprietary life policies per year totaling about $20M in new Life premium. Each agent might not choose to write much because they are already super busy with full on persona, commercial, farm & proprietary term/WL & partnered IUL. That is why I think the best option is in the Final Expense arena with occasional more standard unique cases. Mainly an IMO that would like the cases, but not expect each agent producing at high levels.

 

[Allen Trent]

Crump was my first though too.

Thanks.

 

[Todd King]

Starting own IMO would be too much distraction from core proprietary products. Plus, keep in mind the production is somewhat limited on an individual agent basis. The agents issue about 10,000 proprietary life policies per year totaling about $20M in new Life premium. Each agent might not choose to write much because they are already super busy with full on persona, commercial, farm & proprietary term/WL & partnered IUL. That is why I think the best option is in the Final Expense arena with occasional more standard unique cases. Mainly an IMO that would like the cases, but not expect each agent producing at high levels.

Then I think you might be talking about us, Allen. Give me a call sometime and let's see what we can do.

 

[goillini52]

Then I think you might be talking about us, Allen. Give me a call sometime and let's see what we can do.

I thought he was talking about you too.

 

[Allen Trent]

Then I think you might be talking about us, Allen. Give me a call sometime and let's see what we can do.

sounds good. I will have the Director of our General Agency get in touch with you.