Local State Farm Office Health Insurance???

[Crapgame44]

I have a local established SF office recruiting me to sell U65, Medicare and Life. Anyone with any experience there? There compensation package is pretty good according to the recruiter. I would imagine a ton of cross selling referrals from there P and C and Auto side. I believe they use Assurant for the U65 carrier. Any input greatly appreciated. Thanks

 

[Yagents]

Yes, they use Assurant, and believe they don't pass on any kind of decent commission. Plus, don't look for Assurant to play on the exchanges, only off exchange for higher income clients. Health insurance is not the reason to join state farm. P&C is. If they are not competitive in med supps, that's a losing game too.

 

[moonlightandmargaritas]

There compensation package is pretty good according to the recruiter.

You expected the recruiter to say it was a pretty poor comp package?

PS-It's "their".

 

[Crapgame44]

Thanks Yagents....been out of U65 for a couple of years. How does Assurant stack up against the rest? What type of comp does the average broker get with them? yes, there Supps are priced competitive for this area. Oh, forgot to mention there is Life involved also. Thanks

 

[Yagents]

Thanks Yagents....been out of U65 for a couple of years. How does Assurant stack up against the rest? What type of comp does the average broker get with them? yes, there Supps are priced competitive for this area. Oh, forgot to mention there is Life involved also. Thanks

Assurant pricing will differ in every state. Comp is typically 12%/5%, but less at SF. Term life at SF is typically not competitive to the rest of the market. Sounds like you need to do some homework in AL. Use ehealth.com and selectquotes.com to compare to SF

 

[buttercup79]

Really depends on your state, and what other carriers are out there. I worked with SF for several years and sold 1 temporary health policy. The pricing is not very competitive, and especially in my state, there were much better carriers with in-network docs that we just couldn't go against. BUT that doesn't mean your state is that way. It is hard to go up against some of the other carriers with this product. Just being honest.

 

[harbinger]

Plus, don't look for Assurant to play on the exchanges, only off exchange for higher income clients.

They're not even going to do the federally facilitated exchanges like some of the others?

 

[Yagents]

They're not even going to do the federally facilitated exchanges like some of the others?

Key word is "Some" of the others. Not everyone is going to play, and Assurant may only be in a few of them at most.