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A lot of truth to the focus on a core carrier and work ethic them.
Interview With Alan Town - $22,752,532 In 2017 Final Expense Production
- Thread starter Rearden
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I would agree with that, and I appreciate you sharing that here. While some (many?) on the forum would likely disagree, it would seem to me that companies like Columbian and Senior Life and their respective distribution organizations may be doing better at hitting that balance than they are given credit for by the forum cognoscenti. Perhaps the forum cognoscenti are not as well informed as to the industry as a whole as they believe themselves to be. I know I have a lot to learn about this business. Maybe I'm not the only one.
SL and Columbian are actually pretty smart. They sign people up under a somewhat captive arrangement where they get lots of premium and also avoid the adverse selection problem so many companies experience with agents exploiting their "niches". If I owned an insurance company, that's how I'd roll.
p.s.- The independent model has already been getting squeezed with companies tightening underwriting, raising rates, or just exiting the market altogether. Enjoy it while you can.
p.s.- The independent model has already been getting squeezed with companies tightening underwriting, raising rates, or just exiting the market altogether. Enjoy it while you can.
It depends on the side you contract with whether or not Columbian is (semi) captive... On the GA side, you are 100% Independent and free to do what you want but if you contract on the Final Expense side, it depends on the IMO...... if you trade commissions for free leads, you are going to be captive..SL and Columbian are actually pretty smart. They sign people up under a somewhat captive arrangement where they get lots of premium and also avoid the adverse selection problem so many companies experience with agents exploiting their "niches". If I owned an insurance company, that's how I'd roll.
p.s.- The independent model has already been getting squeezed with companies tightening underwriting, raising rates, or just exiting the market altogether. Enjoy it while you can.
I hear you, Rouse. It just seems (in this area at least) that Columbian has no interest in contracting the street level agent direct. They steer you toward the big GA kind of like an NML or NYL model.
Have you tried talking with Jim Smith? He is an RSD for PA.
Jim Smith, Regional Sales Director | Columbian Financial Group
Good to know and I'll remember that name. Thanks Rouse!
I have met 5 or more Columbian FE agents and I can say without a doubt; they are some of the most crooked agents I have ever seen in the industry. They care nothing about the client and are all about a payday, period. I have seen them prey on 75 year old black men that can not read or write. They replace level policies with graded policies, with much higher payments and waiting periods. All without receiving any cash out. Many times they are so blatant they actually list the replacement on the application. Other times they pretend they didn't know the other policy even existed, ie no replacement forms.
The fact that Columbian purchased the rights to Mutual of Detroit is all one needs to know about how they choose to run their business. If your in or around Michigan, and are selling FE, you know what kind of business Mutual of Detroit produced. Their claim to fame was "missing cash values".
They are very well known for what they have done to the black community in Grand Rapids, Batttle Creek and Kalamazoo. I used to replace them. Now I don't even bother, I just move on to the next one, Mutual of Detroit that is. I replaced three Columbian policies in Michigan last week alone.
The fact that Columbian purchased the rights to Mutual of Detroit is all one needs to know about how they choose to run their business. If your in or around Michigan, and are selling FE, you know what kind of business Mutual of Detroit produced. Their claim to fame was "missing cash values".
They are very well known for what they have done to the black community in Grand Rapids, Batttle Creek and Kalamazoo. I used to replace them. Now I don't even bother, I just move on to the next one, Mutual of Detroit that is. I replaced three Columbian policies in Michigan last week alone.
The Independent model is collapsing?SL and Columbian are actually pretty smart. They sign people up under a somewhat captive arrangement where they get lots of premium and also avoid the adverse selection problem so many companies experience with agents exploiting their "niches". If I owned an insurance company, that's how I'd roll.
p.s.- The independent model has already been getting squeezed with companies tightening underwriting, raising rates, or just exiting the market altogether. Enjoy it while you can.
Just the model of exploiting niches as practiced by many on here. If companies experience adverse selection because they have low rates for smokers, or take certain medical conditions when others won't, etc., they start getting hammered with bad business. They then raise rates or tighten underwriting and agents start running out of places to go.
You see it on here. Guys will use certain companies for this and that then send all the healthy people to the price busters. Very short sighted as they've been killing the golden goose. A company needs a mix of good and bad in order to keep offering the niche.
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