Important to Have More then One Ins Company

Some of those Shenandoah Agents are learning this lesson now.

How right you are Mark.
I have talked to at least 3 IMOs for Shen in the past 2-3 weeks that only did Shenandoah. When I talked to them, they said, "I know you told me not to rely on just one company", even though I never mentioned it. Some of them could be hurting badly if Shenandoah does not recover soon.

It goes back to the old adage..."Don't put all your eggs in one basket".
 
I had it happen to be back in Oct of 2008. I was the number one marketing company for Chesapeake Life when they stop taking U.L. and Term Business. It was a big part of my income. I didn't have all my eggs in one basket, but it still hurt my income. I really loved Chesapeake Life and still miss them.

With that being said, I feel sorry for any IMO that losses their main or only Ins Company. I also feel sorry for everyone that just lost their jobs or that was involved.

Don't matter which company it is. It affects real people's lifes. So to all of you IMO's for Shenandoah or any other company going under, I feel your pain and hope that you find another company that will fit your niche.

The good news is that most good IMO's have loyal agents and they will go where ever you go.

I see a lot of changes coming this year with insurance companies. Not all are bad, but you need to have a back up plan and make sure you pick the right companies, which is hard these days. Just have more then one basket to place your eggs.
 
Yup, I know someone who swore by Shenandoah. In fact, asked their agents to submit all their business through that one company. It didn't make sense to me. I wonder if they're still sending the top agents to Marbella, Spain.
 
Then I would say you're pretty safe...for now that is because who know what tomorrow brings!
Are you actually with Gr. Am.? Are you captive with them?


Im not sure if I fully understand the question. I work for the company and get trained by them and write for them but we do also write for Royal neighbors, Americo, AARP and Im not sure who we work with on LTC yet. I don't get a salary or anything though.
 
Im not sure if I fully understand the question. I work for the company and get trained by them and write for them but we do also write for Royal neighbors, Americo, AARP and Im not sure who we work with on LTC yet. I don't get a salary or anything though.

What I mean is do you actually write Great American products or are your products either Loyal American, United Teachers Associates, Central Reserve Life, Continental General or Provident American?
 
I had it happen to be back in Oct of 2008. I was the number one marketing company for Chesapeake Life when they stop taking U.L. and Term Business. It was a big part of my income. I didn't have all my eggs in one basket, but it still hurt my income. I really loved Chesapeake Life and still miss them.

With that being said, I feel sorry for any IMO that losses their main or only Ins Company. I also feel sorry for everyone that just lost their jobs or that was involved.

Don't matter which company it is. It affects real people's lifes. So to all of you IMO's for Shenandoah or any other company going under, I feel your pain and hope that you find another company that will fit your niche.

The good news is that most good IMO's have loyal agents and they will go where ever you go.

I see a lot of changes coming this year with insurance companies. Not all are bad, but you need to have a back up plan and make sure you pick the right companies, which is hard these days. Just have more then one basket to place your eggs.

I'd like to solve the puzzle, is it Chesapeake?
 
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