Interview With Alan Town - $22,752,532 In 2017 Final Expense Production

[WinoBlues]

When you see carriers now having their own captive team, doesn't it get you to start to wonder when they will soon kick us out of the deal?

I've thought this since I found out their are carriers that I use, like trans that has their own direct captive team.

That used to be the norm, not the exception.

 

[rousemark]

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.

There are bad apples in every business and in every company. I have seen indies run around replacing their clients life insurance every year in order to get a new first year commission. I do not think what you are describing systemic with the company as you heard what Alan Towns had to say (and I think he meant it). However, there are a couple of Columbian agents out of Chattanooga that have a poor reputation. It doe seem most of these guys tend to be contracted on the FE side and not the GA side.

 

[nfl72]

Alan Towns is talking the talk when he suggests Columbian is a reputable company. Columbian is not the least bit concerned about doing what is best for the insured. They not only let shit slide, they condone it. I have spoken with a few of their regional managers and they let anything slide to write new business. They rival Bankers Life when it comes to promoting a product that everyone knows is a dog.

Columbian offers huge kickbacks to up lines willing to push their inferior products. Columbian agents are the "used car salesmen" of the FE industry. If Jim Jones sold FE; it would be Columbian.

 

[BibH]

Alan Town is overiding every Fe product sold at Columbian even this written under Regional Directors. Columbian has over 50 different contracts. When i was going to contract with them i got 4 different contracts from different Imo's and they were all different . I like there Gi with 71% fyc and 15% yrs 2-4.What is a screw job is there Fe contract as if your lose your contract your vested only if you have 20 or more policy's on the books.. Thats 13% min renewals. I'm sure Mr town is getting all those renewals.

 

[NuUzr]

Howe Ins Serv - is under Alan T?

 

[Life Hawk]

When you see carriers now having their own captive team, doesn't it get you to start to wonder when they will soon kick us out of the deal?

I've thought this since I found out their are carriers that I use, like trans that has their own direct captive team.

I'm not as old in the business as some of you, but years ago captive agents where the mainstay if not the only way many companies functioned. As time went on, it seems these companies came to rely in part and at times completely on the contracted model, or non-captive sales force.

Much of the reason I believe was because of the "law of large numbers" to off set the risk pool. And as a company continues to grow (speaking of life and health market primarily) the age and health of its book of business forces the need for replacement of polices that by natural causes fall off the books and to off set adverse selection of poor risk.

The need of production and the overall inexpensive cost (at least for maintenance) of a non-captive force of agents... leads me to believe that this model will remain in place for sometime to come. Boiled down... it is in the economic interest of many companies to do so.

 

[rousemark]

I'm not as old in the business as some of you, but years ago captive agents where the mainstay if not the only way many companies functioned. As time went on, it seems these companies came to rely in part and at times completely on the contracted model, or non-captive sales force.

Much of the reason I believe was because of the "law of large numbers" to off set the risk pool. And as a company continues to grow (speaking of life and health market primarily) the age and health of its book of business forces the need for replacement of polices that by natural causes fall off the books and to off set adverse selection of poor risk.

The need of production and the overall inexpensive cost (at least for maintenance) of a non-captive force of agents... leads me to believe that this model will remain in place for sometime to come. Boiled down... it is in the economic interest of many companies to do so.

You may see companies setting up captive 1099 operations but it seems companies are turning away from the captive W2 employee agent..

 

[Life Hawk]

You may see companies setting up captive 1099 operations but it seems companies are turning away from the captive W2 employee agent..

I think after the last administration there may have been concerns about how much liability they might be forced by the government to take on for agents healthcare cost or retirement planning. W2 creates much greater liability for those issues. And then you have the states to deal with.

 

[DayTimer]

They rival Bankers Life when it comes to promoting a product that everyone knows is a dog.

Columbian offers huge kickbacks to up lines willing to push their inferior products.

In what way are their products inferior? What makes their FE product, for example, "a dog?"

 

[bronfield]

My first response when I see 23 million


How did he do it?
What's his personality like?
How did he set himself apart? Timing? Connections? What is something I can learn from him?
How does he motivate people? How does he connect with people? How does he lead?

You all respond "I wouldn't use Oxford or Kemper"



LOL tell me which mindset will make you more successful.