Long Term Disability

Discussion in 'Disability Insurance Forum' started by SPUR CITY, Aug 15, 2016.

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  1. Tahoe Ray
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    Tahoe Ray Well-Known Member

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    I follow that the old maxim: "wildly overpromise and massively underdeliver" normally works best in these random quoting situations...I think that it goes something like that.

    Seriously, I agree with what you're saying but 1) Guardian is awesome but can be tough...although in this case it is unlikely that they would be and 2) SS offset sucks unless you're a truck driver unloading your cargo (and even then it is still not preferable but likely all that you're going to get).

    Out of the carriers that OP listed, Illinois Mutual would be his only option for pure base, although I wouldn't insure an agent with any of those products.
     
  2. Tahoe Ray
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    Tahoe Ray Well-Known Member

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    Call your local Guardian brokerage director. They're not going to offer you much on a one off but it's worth a shot.

    Comp on DI is mainly in the renewals and for most carriers, will require consistent production.
     
  3. scagnt83
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    scagnt83 Well-Known Member

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    Unfortunately Guardian and other big mutuals like them do not have a huge amount of room on contracts.

    Most IMOs do not offer Guardian because their cut is very minimal. Many actually put agents below street because they are not willing to sell anything for less than a 10% cut.

    Street for Guardian DI is 50%. You can always ask... but they almost never give out higher contracts for "one offs". You need to bring them at least $30k - $40k in premiums to get a bump of any kind.


    Like Ray said, DI is all about the renewals. Clients usually keep policies for at least 15-20 years. Renewals can be as high as 20% over the first 10-15 years (depending on the carrier).


    Unfortunately the major white collar players in the DI world are not very flexible on comp. Nothing like what its like in the Life Insurance world. With Life we can almost always find a higher contract somewhere if we look hard enough.


    You could always find an agent who is at a higher comp rate and have them 1099 you part of the comp if they are willing. But there are not a lot of agents out there with their top DI contract. If you just dont want to get contracted I will 1099 you a % of it but I do not have their top contract. They do eApps for DI. Id bet that Ray or someone else would be happy to 1099 you part of it too.

    But Guardian has a good product lineup so it might be worth getting contracted yourself. I know of a few FE guys that use them for small FU WL policies. Especially on kids.

    Just make sure you have someone to help with deciding on the various riders. Of course you could always just ask us here on the forum.

    ----------

    Of course I agree. The reason I put that out there is a case I had a few years back that I tried to run through Guardian. Door to door salesman who did MAD volume. I was told that he sees 3x the amount of people per day vs. an average d2d salesman. Because of that he was looking at being rated or even a possible decline.

    Of course their occupation questions might be a bit different if you say someone is an agent vs. when you tell them they are a d2d salesman.
     
  4. bluemarlin08
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    bluemarlin08 Well-Known Member

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    Do a spreadsheet with all plans listed. I would bet that Standard will stand out more than anyone.
     
  5. thomasm
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    thomasm Well-Known Member

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    Do you remember how many people they said the average D2D salesman sees per day?

    I've been banging on doors since 2003, just curious to see where I'm standing!
     
  6. Tahoe Ray
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    Tahoe Ray Well-Known Member

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    Insurance agents are insurance agents for the most part.

    Your classification is based on income, years in the business, and certifications.

    There are several companies that won't yank you around like this... (several relative to the thin market of DI carriers.)
     
  7. SPUR CITY
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    SPUR CITY Well-Known Member

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    FYI: Assurity now does own occ now till age 67 instead of 5 yrs.
     
  8. scagnt83
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    scagnt83 Well-Known Member

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    Good to know, thanks. Does that mean you went with Assurity? Did you check with others before them?
     
  9. SPUR CITY
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    SPUR CITY Well-Known Member

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    Yes, I went with Assurity. Doing the blood/urine next week. Thanks for your input on this.
     
  10. scagnt83
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    scagnt83 Well-Known Member

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    No problem. Glad to hear your on your way to being insured!
     

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