Important to Have More then One Ins Company

[Mark]

I think that it is important to have more than just one insurance company that you work for. Try and have your eggs in more then one basket. With all of the insurance companies that are going under, or being bought or sold, it is important to have a backup company also.



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Mark Rosenthal aka markingriffin
IMO/Ins Agent/Agent Trainer/Free Advice
[email protected] www.rosenthalfiles.com
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[sman]

Mark, it's "than" not "then". Other than that, I couldn't agree with you more.

 

[Todd King]

"A" backup company? I like to have several of them. Besides that, several of the right hand-picked companies can fill a lot of holes that you might have with just one or two. Either way, you're dead on about having more than one. I have an agent that had only one company he wrote with. He had 5 apps to turn in only to find out the company wasn't accepting apps in the state he lives in. He was frantic with what he was going to do. I'm glad he picked me to call. Only problem is, he has other agents in other states, but won't license them with other companies. He could get them writing med supps to go along with the final expense and he would be making more money...he doesn't do med supps so he doesn't understand it that way. Oh well, C'est la vie!

 

[Mark]

Some of those Shenandoah Agents are learning this lesson now. I won't name any names, but there will be another F.E. company going away in June of this year. It is not one of my companies by the way. You can't go by am best rating or how good the company is. Companies can get bought and sold, or just stop taking new business before you can blink an eye. You will see some of the bigger companies start to buy some of the smaller companies soon.

 

[Todd King]

Some of those Shenandoah Agents are learning this lesson now. I won't name any names, but there will be another F.E. company going away in June of this year. It is not one of my companies by the way. You can't go by am best rating or how good the company is. Companies can get bought and sold, or just stop taking new business before you can blink an eye. You will see some of the bigger companies start to buy some of the smaller companies soon.

If we said pretty please would you at least give a hint?

 

[Mark]

If we said pretty please would you at least give a hint?

I know things I should not know.

1 company will go out in June. I mean no new business and the home office will be closed. IT has 9 letters in it. 5 vowels. The home office staff already knows they won't be there. They have been told already. But their IMO have not been told yet. But some of them have a good clue.

1 company will be bought and sold next month.

If you go back and look at some of my old post, you will see that I hinted that I thought Shenandoah was in a lot of trouble, over 7 months ago.

I hate to see any company go under or having problems, even if they are not my companies. I hate to see people losing their jobs.

Because the F.E. market is the niche market right now, you will see a lot of companies fighting each other, which is good for us agents.

I wish some of these new agents could have been around 5 years ago when everyone was buying new homes and we were all chasing new homeowners and selling them big term policies.

You have to find a niche market. This is the trick of this business. You also have to learn how to prospect and not become a lead junkie. You also have to be willing to study your products and read all the time in this business.

 

[Todd King]

You know Mark...the rule is..."and SOMETIMES Y" when it comes to the vowel thing.

 

[Mark]

There is no " Y " in this company's name.

 

[Todd King]

Then you've got me stumped. I looked through a whole A-Z list and there was only one I seen that would fit the clue, but it has a Y in it.

 

[somarco]

I would like to buy a vowel. Is there an "o" in this, Mark?