Liberty National

[David C]

Recently a P&C agent who doesn't sell health referred a case to me. I wrote the family health insurance with BCBS.

I saw a Liberty National calendar hanging on his wall. I asked about their life. I met with them again today, going over what they have with LNL we found an intensive care policy. I hate those things! How do you sell one of those with a straight face? All LNL policies will be cancelled next week.

 

[dabatman]

Recently a P&C agent who doesn't sell health referred a case to me. I wrote the family health insurance with BCBS.

I saw a Liberty National calendar hanging on his wall. I asked about their life. I met with them again today, going over what they have with LNL we found an intensive care policy. I hate those things! How do you sell one of those with a straight face? All LNL policies will be cancelled next week.

I'll be starting with LibNat tomorrow. This will be my first insurance opportunity. Is this issue I'll be facing with LibNat products??? Other agents being able to come in and undercut many of the products that I write up?

 

[2112Greg]

LibNat is a Torchmark company. Enough said.

If these lame products DO have their place, it's strictly as a very VERY last resort for someone who simply cannot get coverage elsewhere.

 

[Lyn]

LibNat is a Torchmark company. Enough said.

If these lame products DO have their place, it's strictly as a very VERY last resort for someone who simply cannot get coverage elsewhere.

For the benefit of someone who knows no better, what's wrong with writing a long term care policy?

 

[arnguy]

For the benefit of someone who knows no better, what's wrong with writing a long term care policy?

Lyn, who mentioned anything about a long term care policy?

 

[2112Greg]

For the benefit of someone who knows no better, what's wrong with writing a long term care policy?

Nothing whatsoever. But the quality of a policy is only as good as the company that backs it up. Torchmark has a deplorable record, in my opinion, and that's on top of their sub-standard products. Don't know anything about their LTC plans, I am referring to the life/health offerings, which are overpriced garbage.

Again, in my opinion.

 

[Lyn]

Nothing whatsoever. But the quality of a policy is only as good as the company that backs it up. Torchmark has a deplorable record, in my opinion, and that's on top of their sub-standard products. Don't know anything about their LTC plans, I am referring to the life/health offerings, which are overpriced garbage.

Again, in my opinion.

Thanks for your response in spite of my mistake. I said LTC, but meant intensive care. Case of fingers going one direction while the mind goes another.

 

[2112Greg]

Gotcha. But if you didn't pick up on it before, I have real problems with any Torchmark company. I always preface my comments as being opinion, as you can see, but I spent about 5 months with UA several years back. Despite my misgivings going in, I did it anyway and got out when I could no longer stomach the shenanigans going on there. I did do the right thing and got with everyone I wrote business for and got them away (or at least tried) from this seriously crappy coverage.

So I do chime in when these topics trying to warn people about what I see as a carrier engaged in criminal activity (again, my opinion). Some of the things that went on at my branch were seriously wrong...and the only other branch in my village (Austin) lost all its clients and closed (I know the former branch manager). My branch has struggled and lots of demotions have taken place (so I've heard) and that's nothing but good. The less Torchmark there is screwing up our industry, the better. Hope one day that they are wiped off the face of the map...

Find a cheaper/better policy with a company that pays its claims, has good coverage that is priced fairly. UA has none of those things...

Again, in my opinion.

 

[stormtracker]

Greg, your opinion is accurate. No matter what label Torchmark tries to use, it is the same old garbage. This outfit, and all of their spinoffs have been extensively discussed in this forum.

 

[dabatman]

Nothing whatsoever. But the quality of a policy is only as good as the company that backs it up. Torchmark has a deplorable record, in my opinion, and that's on top of their sub-standard products. Don't know anything about their LTC plans, I am referring to the life/health offerings, which are overpriced garbage.

Again, in my opinion.

Not trying to get into a dispute about companies but I've been looking at the facts while making my decisions on a company to work with. What I've found on the company hasn't been as bad as a lot of folks here make it out to be.

Founded: 1900, incorporated as a stock insurer in 1929

Parent Company: Torchmark Corporation (NYSE: TMK)

Licensed: In 49 states

Locations: More than 200 Branch Offices throughout the U.S. & more than 8,500 Sales Representatives

Strength: More than $44 billion of life insurance in force (as of 12/08)

Policies: 4.1 million in force (as of 12/08)

Ratings: A+ (Superior) Financial Strength Rating from A.M. Best (as of 06/09)

AA- "Very Strong" Financial Strength Rating from Standard and Poor's (as of 12/08)

A1 Insurer’s Financial Strength Rating from Moody’s (as of 1/09)

A+ “Strong” Insurer’s Financial Strength Rating from Fitch (as of 6/09)