Liberty Bankers

[onefastpony]

Just received an email from EFES in regards to them adding a new carrier, Liberty Bankers. Other than having the ability for Direct Express for payment is there anything that stands out about them? I just received in my email the agent guide and application for me to look over.

Any other agents on here have any experience with Liberty Bankers? If so what are your thoughts?

 

[Ryan Caras]

Just received an email from EFES in regards to them adding a new carrier, Liberty Bankers. Other than having the ability for Direct Express for payment is there anything that stands out about them? I just received in my email the agent guide and application for me to look over.

Any other agents on here have any experience with Liberty Bankers? If so what are your thoughts?

yes
younger age clients

 

[rousemark]

They are mentioned in several threads

Largest Insurance Forum on the net - discussion and advice on all insurance products, for agents and consumers - Search Results for liberty bankers

I think shonceman is contracted with them.

 

[jdeasy]

Just received an email from EFES in regards to them adding a new carrier, Liberty Bankers. Other than having the ability for Direct Express for payment is there anything that stands out about them? I just received in my email the agent guide and application for me to look over.

Any other agents on here have any experience with Liberty Bankers? If so what are your thoughts?

I thought they added them months ago. I didn't pick them up after I looked at the rates. Yeah they take the DE card but they were almost LH pricewise. I would pass on them.

 

[John Galt]

Just received an email from EFES in regards to them adding a new carrier, Liberty Bankers. Other than having the ability for Direct Express for payment is there anything that stands out about them? I just received in my email the agent guide and application for me to look over.

Any other agents on here have any experience with Liberty Bankers? If so what are your thoughts?

Ive wrote around 10 policies with them,they are ok, not A rated. I do like how they handle their process so you can see every stage the app is at in their system. They do have higher rates and I would have no problem selling against them with the companies in my bag now. Matter of fact, I replaced a Liberty Bankers policy today.

As you said they do have DE card option, but they are not the only carrier with that option

 

[WinoBlues]

yes
younger age clients

Also can use a TIN if the person does not have a SSN. Can come in handy in the border states.

 

[deadhead]

I love em. Price is middle of rd. Takes diabetics diagnosed at 26. Accepts DE card no matter whose card the name is in and regular cards as long as they are gubmint funded. Keeps you in loop all the way through underwriting. Child and grandchild riders. They have traditional WL and min is whatever 15 in premium will get. Their WL under 25k is not bad ratewise. Not real strict on that underwriting either. I use it for my healthy under 40s with kids that only want around 20k. The DE does come in handy. Wrote a traditional 20 pay 25k plan for a customers granddaughter using her DE card.

 

[WinoBlues]

I love em. Price is middle of rd. Takes diabetics diagnosed at 26. Accepts DE card no matter whose card the name is in and regular cards as long as they are gubmint funded. Keeps you in loop all the way through underwriting. Child and grandchild riders. They have traditional WL and min is whatever 15 in premium will get. Their WL under 25k is not bad ratewise. Not real strict on that underwriting either. I use it for my healthy under 40s with kids that only want around 20k. The DE does come in handy. Wrote a traditional 20 pay 25k plan for a customers granddaughter using her DE card.

Easy issue term options as well.

 

[digfesales105]

They're Ok. There is nothing special about them. We only use them for 2 reasons.

1. They don't appt agents until you submit your first case so an agent can start writing with them ASAP. That could be both good and bad.

2. They take and advance on direct express.

3. You can sell over the phone and there is no 3rd party to call. You do the whole call and record the app.

Other then that...not much else is good to use them. They take awhile to underwrite and pay.

If the 3 above options don't appease you....I wouldn't waste my time appointing with them. 5 Star takes direct express so you would be better off getting them.

 

[shonceman]

I got with them primarily for the Home Service side of the company. But I also got appointed with the "ordinary" division, and have written several cases with them.

Besides some of the reasons already pointed out, I like that you can do a reinstate by redate if a case lapses. That helps conserve FYC & persistency.

Another nice thing is the way they handle convention qualification. If you don't qualify one year, your points carry over until you've got enough to qualify. Qualification is based on business in force rather than pure production.

Interesting term products, too - generally "med-free". I especially like the "PermaTerm" product. It's a twist on the ROP term idea. But instead of returning premium at the end of the term, it converts to a paid up whole life policy roughly equal to the amount of premiums paid.

They're also just great people to work with, on both sides of the company. They're very agent friendly. Mike Simard, the head of the life division, who is over both the debit and ordinary divisions, started in the business running a debit for Prudential (in East Los Angeles, I think). One day I was in the home office in Dallas & he showed me one of the presentations he used to use. I believe he could still do a "kitchen table" sale if he had to!