Med Supp Agents Re: Admiral

[Frank Stastny]

This is the first time I have ever seen anything like this. None of the other companies I am contracted with have told me that I need to send them money to contract with them.

NOTE -- ADMIRAL REQUIRES A $15 CHECK WITH THE CONTRACTING FOR EACH LICENSING AGENT. (This includes the principal if it is an agency contracting. This fee is for the cost of a Criminal Background check, which they require the agent to pay.

This is exactly what it says it is, to cover a background check, it is not a state licensing fee. There is no state licensing fee for Missouri.

I was going to contract with them but now I'm not sure. If they want me to write business for them it seems like that is, and should be an internal expense.

Companies require the new client to pay an "application fee" to take even more of the client's money. Admiral wants each agent to send them a check to get licensed, what is next?

Oh, and to top it all off, if we bust our ass keeping our client happy for six years, the insurance company is going to reward us for our efforts by cutting the hell out of our commission.

Could agents be getting more screwed by almost everyone? Marketing companies included.

To me that is like me charging X dollars per mile to go on the appointment, another say $50.00 for my time and if they make a purchase there will be an additional charge for me to process the paperwork and postage to send the app to the home office.

Oh, there will naturally be a per call cost if they want me to provide them with service.

 

[MedSuppPro]

Are you direct or going through FMO?

 

[senior-advisor-indiana]

I do not think you can go direct. I did not have to pay a fee. Maybe my FMO paid it?

That is rediculous though. That should be their cost of business.

 

[aufan]

Frank, I feel your pain. My FMO was paying the $15 prior to the end of the year, but I missed it. At the time I had another carrier who I was writing most of my business with..but..you guessed it--they had a rate increase, so I bit the bullet and sent in my $15 with the new contract application for Admiral.

I'm still green, but here is what I am noticing with these carriers. They seem to have little respect for independent agents and it starts from the top down.

I could give several examples of what I call less than stellar agent service, but I just don't have the energy tonight. I've learned just to write business and take it all with a grain of salt. I suspect I'll live longer because of it.

 

[MedSuppPro]

I did not have to pay a fee. Maybe my FMO paid it?

[FONT=&quot]Mr. Indiana Jones, is $15.00 a lot or alot?

[/FONT]

 

[midwestbroker]

To me that is like me charging X dollars per mile to go on the appointment, another say $50.00 for my time and if they make a purchase there will be an additional charge for me to process the paperwork and postage to send the app to the home office.

Wait...we can do that? Where do I sign up for that program?

If you have willing agents that are paying the fee, why would the carrier drop the it? I am sure they will justify it by saying they want to make sure they have quality agents and blah blah blah...

 

[senior-advisor-indiana]

Its not uh hole lot.

 

[Frank Stastny]

If you have willing agents that are paying the fee, why would the carrier drop the it? I am sure they will justify it by saying they want to make sure they have quality agents and blah blah blah...

You are correct. And, as long as agents let insurance companies pull crap like this, and marketing organizations lie to them and screw them over things like this will continue and only get worse.

I have decided that I am not going to license with Admiral. In 12 to 18 months it will be a mute point anyway. It won't be very long before they have their huge premium increase that will put them higher than most of the rest.

Then there will be another new kid on the block that everyone will be scrambling to move their clients to.

 

[MedSuppPro]

Frank, Your making a good choice!

About a year ago I researched this company and they have an interesting and short history. I never could confirm the rumor that they “Xerox’d” UW’s rates prior to UW’s rate increase.

Clients will appreciate your opinion on this one, as I’m sure you know all about covering your bases.

Is United of Omaha in the Show Me State yet?

 

[GreenSky]

I have decided that I am not going to license with Admiral. In 12 to 18 months it will be a mute point anyway. It won't be very long before they have their huge premium increase that will put them higher than most of the rest.

I contracted with them in California but they did not charge me the $15. However, their rates are not competitive so I have yet to write a policy.

However (and you know how much I LOVE to correct you), it's a moot point, not mute. Unless the point is silent, then you are correct.

I'm sure SAI will chime in with his opinion shortly.

Rick