LTC Contract - Mutual of Omaha

[BuckNasty]

I've never written an LTC policy before but am wanting to branch out from Medicare. I have a case that fell into my lap today where I presented MOO. My MGA ran the illustrations and I think the clients are going to go for it.

Could someone advise me as to what commission rate is a fair offer from the MGA? Also, in the interest of simplicity, would MOO and Mass Mutual be the two go to carriers you would recommend getting appointed with? If so, why?

Thanks in advance.

 

[ltcadviser]

I've never written an LTC policy before but am wanting to branch out from Medicare. I have a case that fell into my lap today where I presented MOO. My MGA ran the illustrations and I think the clients are going to go for it.

Could someone advise me as to what commission rate is a fair offer from the MGA? Also, in the interest of simplicity, would MOO and Mass Mutual be the two go to carriers you would recommend getting appointed with? If so, why?

Thanks in advance.

Mutual of Omaha and Mass Mutual will be two best companies to start with.

MGA can contract you anywhere from 60 to 80 points FYC, just depends upon your relationship with the MGA, really. If you give them a ton of MedSupp business tell them to take care of you.

 

[BuckNasty]

Mutual of Omaha and Mass Mutual will be two best companies to start with.

MGA can contract you anywhere from 60 to 80 points FYC, just depends upon your relationship with the MGA, really. If you give them a ton of MedSupp business tell them to take care of you.

Thank you for telling me this...they just tried to offer me 50/6.

 

[Mr_Ed]

Mutual of Omaha and Mass Mutual will be two best companies to start with.

MGA can contract you anywhere from 60 to 80 points FYC, just depends upon your relationship with the MGA, really. If you give them a ton of MedSupp business tell them to take care of you.

FYI... he is in PA.
PA has restrictions that other states don't.

 

[ltcadviser]

FYI... he is in PA.
PA has restrictions that other states don't.

BuckNasty...In PA? Where are you in Bucks County somewhere?

 

[BuckNasty]

JAck...I am in Chester County which is pretty close to Bucks County. I take it you are familiar with the area?

 

[ltcadviser]

JAck...I am in Chester County which is pretty close to Bucks County. I take it you are familiar with the area?

Not overly familiar, I am from Pittsburgh.

 

[BuckNasty]

My other FMO offered me 65% 1st yr, guess I will go with that. They do not have Mass Mutual though... claimed they were captive agents (although he wasn't entirely sure about that). I told him that I don't think that is correct.

 

[ltcadviser]

My other FMO offered me 65% 1st yr, guess I will go with that. They do not have Mass Mutual though... claimed they were captive agents (although he wasn't entirely sure about that). I told him that I don't think that is correct.

Omaha has 2 contracts, heaped and levelized, and I think Omaha has 14 levels on each contract so you just need to find out which level they intend to place you on.

For Mass Mutual, contact your local office and get contracted. Mass Mutual will pay you a standard agent contract of 50/6. ERA is negotiable depending upon your production.

 

[BuckNasty]

Omaha has 2 contracts, heaped and levelized, and I think Omaha has 14 levels on each contract so you just need to find out which level they intend to place you on.

For Mass Mutual, contact your local office and get contracted. Mass Mutual will pay you a standard agent contract of 50/6. ERA is negotiable depending upon your production.

Thanks again Jack for taking the time to answer.