Life insurance
- Thread starter amymonica
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Guest
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There are 2,000 companies that sell life products. There is no 'best.' Some plans are better than others... always totally dependent on individual client circumstances.
Every agent develops 'favorite' carriers. Also a lot of it will depend on whom your GA represents and 'pitches' to you... assuming you use a GA (which I advise.)
I happen to like West Coast life... because I can drive 90 minutes to San Francisco and be at the home office should there be a problem. I doubt there ever will be one... but that's MY comfort zone (along with their rating and financials.) It is easier to sell a "hometown" company as opposed to Dearborn Life or New England... both fine companies but not exactly "local" to the Left coast!
I'm finding that with the economy going into the dumpers that people are feeling more "comfortable" with companies they have heard of from advertising (Met, NYL, MoO, Hartford, etc.) as well as local or regional companies.
This past week I had a CD come due from GMAC Bank. I had the funds sent to a local community bank (Commerce Bank of Folsom) because I know the new president and they are locally owned. I will have slightly lower return, but feel better when my money is close to home when times get bad. Of course, YMMV.
Al
Every agent develops 'favorite' carriers. Also a lot of it will depend on whom your GA represents and 'pitches' to you... assuming you use a GA (which I advise.)
I happen to like West Coast life... because I can drive 90 minutes to San Francisco and be at the home office should there be a problem. I doubt there ever will be one... but that's MY comfort zone (along with their rating and financials.) It is easier to sell a "hometown" company as opposed to Dearborn Life or New England... both fine companies but not exactly "local" to the Left coast!
I'm finding that with the economy going into the dumpers that people are feeling more "comfortable" with companies they have heard of from advertising (Met, NYL, MoO, Hartford, etc.) as well as local or regional companies.
This past week I had a CD come due from GMAC Bank. I had the funds sent to a local community bank (Commerce Bank of Folsom) because I know the new president and they are locally owned. I will have slightly lower return, but feel better when my money is close to home when times get bad. Of course, YMMV.
Al
- 2,152
Depends upon how good a living you want to make. Exactly what is the market you are planning on working in and, what kind of agent you want to be, Term only or more WL/UL.
While both AIG and Genworth are fine companies, they shouldn't be all you offer. I would suggest a few solid Mutuals for more Life Planning and maybe a few like AIG and Banner for pure Term. Plus AIG has some competitive UL's along with Life of the Southwest.
If at all possible, sign up directly with each company, of course you can not with all companies. As far as GA's go, well they all are about the same, ripoffs but, as mention an evil you may not be able to get around. Or simply don't write any company that makes you go thru a GA.
G
Guest
Guest
Where is the list of life companies that will contract direct with the agent? Can you name a few? MoO is the only one that comes to my mind. Maybe Pru? If you have a list, please post it. I've been looking for it for a long time! Thanks.
Al
- 2,152
First one that comes to mind is Illinios Mutual, I do believe Mutual Trust, then there is Life of the Southwest, then I'm thinking Conseco, wait doesn't TransAmerica sign direct, still does I believe (not sure on that one). If I'm not mistaken Ohio National you can go direct with. What other companies do you need? It is late, I'm sure I can come up with more if I actually list them.
G
Guest
Guest
Yes, I'm appointed with Midland for annuities, but not for life. I never heard of Life/Southwest.
I know people say that GAs are a rip, but so far that has not been my experience with the three I've worked with... Crump, CPS, and Brokers Alliance. All of them know their products and have been very helpful. And floating ideas before an experienced GA can often lead to strategies that many agents are not all that familiar with... such as buy-sell. I look at the GAs as "consultants" and I think if you can find a couple of good ones you are that much ahead of the game.
Al
- 2,152
Oh my, you depend upon a GA to inform you! Just how much life insurance are you selling?
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