Independence American Insurance Company, IAC, IAP

[InsuranceBenefitsGroup]

Most of the creeps I crossed paths with that were selling Mega have moved over to IAC, IAP. Anyone have the good, the bad, or the ugly on them?

Tried to recruit a guy last week with them that drank way too much Koolaid. He's selling an 'association benefits plan' yada, yada, his head up his a$$ neophyte.

 

[indmedins]

Seems like a discount plan to me, no? If so, the good is that it might come with pet med discounts. The bad is that, well you know the bad.

 

[InsuranceBenefitsGroup]

Seems like a discount plan to me, no? If so, the good is that it might come with pet med discounts. The bad is that, well you know the bad.

Discount it is not, I can tell you that.

 

[indmedins]

Got a link?

 

[somarco]

Insurers Administrative Corporation

Insurers Administrative Corporation - Guests

 

[InsuranceBenefitsGroup]

Anyone bumping into these agents? My guys keep crossing paths w/them. Easy to pick off as most have no idea what they're talking about.

 

[jackflashdrive]

I'm a new agent, so take this for what it's worth. Like you, I work in FL.

My former GA (I left last week for HCO) told us to push IAC as "IAC/Fidelity", and that they are "the main insurance company that insures the insurance companies" (a reinsurer?). He also said to say that they use the Great West / Cigna network (when selling Assurant, we were always told to pitch the network as Great West/Cigna).

He's one of those former Mega managers, so I really have no idea how much of this to believe.

The policies look OK. I've tried to find the holes but can't. A little worried about some of the more gimmicky elements (e.g., daily deductible).

Anyway, simply by virtue of the fact that he's the one who told me about this company, I'm not going to sell them or even invest too much time in researching them. I just assume that anything he wanted me to sell is crap.

 

[somarco]

Gimmicks help weak agents and uninformed consumers come together.

Things like association benefits, daily deductibles, disappearing deductibles, multi-year rate guarantees, supplemental riders are all signs of weakness in the underlying plan.

Well Mr. & Mrs. Prospect, our plan has the lowest premium in the market. For just a few dollars more you can add on coverage for Rx, cancer, heart attack, chimpanzee attack, run over by a UPS truck, second-hand smoke related illness . . .

If this is the way you sell, I want to come behind you.

 

[jackflashdrive]

Gimmicks help weak agents and uninformed consumers come together.

Things like association benefits, daily deductibles, disappearing deductibles, multi-year rate guarantees, supplemental riders are all signs of weakness in the underlying plan.



If this is the way you sell, I want to come behind you.

Are you responding to me or someone else in this thread?

(Wouldn't make sense that you'd be responding to me given what I said in my post, but I can't really figure out who else you'd be talking to)

 

[InsuranceBenefitsGroup]

Just got more goods on this IAP IAC Independence Insurance Company. Agents are being advanced roughly 8.3% of annualized premium on the first $50K of AV...is that low or what??? Then they're moved up a little higher. In other words, there's a lot of missin' comission!

These poor guys are bustin tail to line the pockets of their former Mega "regionals" upline.

If you are with IAC/IAP/yadadada feel free to contact me. I have recruited 3 agents now (Florida) and all are oh so happy to get the 'goods' on being independent!