Has anyone heard of LTC global? They had a pretty extensive ad in this months issue of Agent Sales Journal and they seem very similar to LTC financial partners with the training and all we discussed on the other thread, but without the $2,000 cost. Has anyone had experience with them. I spoke to them pretty extensively yesterday and it all seems legit as they all do at first, but does anyone else have any experience with them that they can share?
LTC Global
- Thread starter eddie
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- long term care
The brokerage I work for United Insurance Group was purchased by LTC Global from Penn Treaty late last year and we more than doubled their size. I believe you are referring to their ACSIA subsidary, when it comes to LTC they are the best and provide a lot of great training without the up front cost like LTCFP. From my experience so far they are a great company to work for and when it comes to LTC knowledge and support they are top notch.
Just to make sure we are comparing Apples to Apples, the $2,000 fee to register for the LTC Financial Partners LTC Institute includes the following products and services:
Transportation and Five Nights of Lodging & All Meals including Celebration Graduation Dinner
Personalized Marketing Materials
Industry Software-(Stratecision-Quote Plus)
$12,000 in Lead Orders Placed in Your Area
Pre & Post Institute Field Training
E & O Insurance
In addition the $2,000 LTC Institute Fee is refunded along with a $5,500 Bonus for reaching conservative submitted business goals.
Transportation and Five Nights of Lodging & All Meals including Celebration Graduation Dinner
Personalized Marketing Materials
Industry Software-(Stratecision-Quote Plus)
$12,000 in Lead Orders Placed in Your Area
Pre & Post Institute Field Training
E & O Insurance
In addition the $2,000 LTC Institute Fee is refunded along with a $5,500 Bonus for reaching conservative submitted business goals.
- 1,704
That's a lot of stuff for 2K!!! The 12k lead order alone blows out any competition....that quote system is worth several hundred and you get a bonus on top of that???
Must be more to the story...but if you have the bucks go for it. Your leads alone should generate enough sales to pay back your investment.
Only prob I have is their conn with Penn Treaty...who will be reneging on their contractual obligations to agents.
Must be more to the story...but if you have the bucks go for it. Your leads alone should generate enough sales to pay back your investment.
Only prob I have is their conn with Penn Treaty...who will be reneging on their contractual obligations to agents.
- 202
it's nice to see that they are finally doing something to try to improve their agents production.
but the math still seems a little fuzzy
12k of leads + 500 dollar software + 500 dollars of eando plus about 2k for the meals transport lodigng nad training.
so the company is going in the hole over $11k for every new qagent. i find that a bit of a stretch.
but i guess if the other guy was right who said they only pay their agents 25% fyc, then i guess they can afford to do it because they'd make it up pretty quickly.
if i was an agent prospect, i'd tell them "why not just do 10k of leads for me, let me keep my 2k and train me for free."
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WTF!
you are upset that penn treat is reneging on their contractual obligations to their agents. what about the 250% plus rate increases they had on some of their policyholders. give me a freaking brake. they should have stopped paying renewals a long time ago.
but the math still seems a little fuzzy
12k of leads + 500 dollar software + 500 dollars of eando plus about 2k for the meals transport lodigng nad training.
so the company is going in the hole over $11k for every new qagent. i find that a bit of a stretch.
but i guess if the other guy was right who said they only pay their agents 25% fyc, then i guess they can afford to do it because they'd make it up pretty quickly.
if i was an agent prospect, i'd tell them "why not just do 10k of leads for me, let me keep my 2k and train me for free."
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WTF!
you are upset that penn treat is reneging on their contractual obligations to their agents. what about the 250% plus rate increases they had on some of their policyholders. give me a freaking brake. they should have stopped paying renewals a long time ago.
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I would only suggest to any potential new candidate interested in entering the long term care insurance industry that they take the time to contact the manufacturers, i.e. the major Carriers, John Hancock, MetLife, Prudential, etc. and ask them which graduates from which agencies are placing more premium.
In the end the success should be measured by the net dollars earned and overall satisfaction of the new LTCi Agents. Not on the cost of training or commission rates.
In the end the success should be measured by the net dollars earned and overall satisfaction of the new LTCi Agents. Not on the cost of training or commission rates.
- 1,704
WTF!
you are upset that penn treat is reneging on their contractual obligations to their agents. what about the 250% plus rate increases they had on some of their policyholders. give me a freaking brake. they should have stopped paying renewals a long time ago.
Even though they raised rates on my clients, their prices were competitive or much less than any new carriers I quoted. And a few were already on claim so their premium waiver kicked in.
I see you have a fine command of the English language.
you are upset that penn treat is reneging on their contractual obligations to their agents. what about the 250% plus rate increases they had on some of their policyholders. give me a freaking brake. they should have stopped paying renewals a long time ago.
Even though they raised rates on my clients, their prices were competitive or much less than any new carriers I quoted. And a few were already on claim so their premium waiver kicked in.
I see you have a fine command of the English language.
As a fairly recent grad of LTCFP's Institute I can confirm that this information is correct. The deciding point for me though was the culture of the company. It's not often that someone can find this level of support from everyone both in the home office and the field agents.
As far as the commission-the % depends on placed premiums and does not remain at 25% for the entire 1st year.
As far as the commission-the % depends on placed premiums and does not remain at 25% for the entire 1st year.
- 202
every general agency can boast a few producers who are exceptional. for petes sake even the captive agencies have a few producers who are placing 350 to 400k/yr in premium. some of the bc/bs agents in al write a ton of biz.
a better question to ask a prospective co is "what does an average agent produce in their first year?
based on their published numbers, the avg agent at ltcfp does less than 50k/yr in placed premium (at 25%fyc thats about 1,000/mo). ofcourse if you multiply that by 1000+ agents than ofcourse the co as a whole is placign a lot of biz but so what, the typical agent isnt'.
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omg i thought the other agent was joking about the 25%.
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