Life In Texas

Dec 12, 2008

  1. Phillip Arnn
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    Phillip Arnn Super Genius

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    I looked at the TDI Top 40 Life Carriers List, no one seems to be dominant in the market, unlike the top 40 health carriers.

    1. Who are the best (competitive price wise) 5 or 6 life insurance carriers to appoint with for TX?
    2. Can I appoint with them directly as an Independent broker?
    3. What else do I need to look for?
     
  2. HomeService
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    You mean term life?
     
  3. TXINSURANCE
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    TXINSURANCE Guru

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    I tend to write a lot of Banner for 10 to 30 year term $100k to $3mill rates are almost impossible to beat.
     
  4. Phillip Arnn
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    Phillip Arnn Super Genius

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    I am appointed with Old Mutual, Banner and AIG. I have written some AIG but I shied away from Banner. I was told they were bad about rating people up and taking forever in uw.
    But, the people who told me that are the same ones who told me bad things about some of the health carriers that y'all have told me are not true.

    HS
    I am looking at term and UL. Do I need more than the three listed above to meet client's needs? (thinking of different age groups).
     
  5. dgoldenz
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    dgoldenz Moderator Moderator

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    Banner's underwriting is actually a lot more aggressive on various conditions than other carriers. I would also not be selling clients any new AIG products unless they are the only carrier that will offer coverage or you want to test your E & O insurance.

    You should find a brokerage facility to work with and get contracted with a number of carriers so that you can shop the cases when you get some difficult underwriting criteria (like heart problems or diabetes). If you have 12 carriers come back with a response on a likely risk class, it gives the client a better picture of what will be offered across all carriers. If you show them 3 respones, they may say something like "What about company X, Y, and Z?" and you will have nothing to respond with.
     
    dgoldenz, Dec 12, 2008
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  6. Phillip Arnn
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    Phillip Arnn Super Genius

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    I went back to the early posts and saw that Melmunch3 recommends an IMO. They had a lot of companies. Are they good for a newbie or do they just want experienced agents?
     
  7. Marpol
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    Marpol Super Genius

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    A BGA (IMO/IMO) is almost always the best way to go. You will get more comp, more carrier access, and better support.
     
    Marpol, Dec 12, 2008
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  8. 360
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    360 Guru

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    "Almost always" is correct.
     
    360, Dec 12, 2008
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  9. HomeService
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    Term and UL is nice, I also sell smaller WL policies, what some might call "final expense", but some agents are not comfortable with that market , so to each his own.

    As far as the companies go, yes, get an IMO that offers some good companies. There are tons of these organizations in the DFW area.
     
  10. Phillip Arnn
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    Phillip Arnn Super Genius

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    How do I tell who is reputable, with good support, training and who really knows the carriers like you guys do?

    I cannot PM anyone yet. A while back I only needed 20 posts to pm now the admin people tell me I need 30. Kind of like the carrot and stick. I guess that is to keep us new guys from bugging you experienced fellas off line.
     
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