- Thread starter
- #11
- 1,240
I'm moving to CA! I wonder why the other states don't do that.
Mutual Of Omaha - New Plans in 8 states
- Thread starter insurance0707
- Start date
- 15,319
We're full up for insurance agents. However, you might see if someone is moving from California to another state. You can then go in as a "replacement."
The other way is to find someone with a license that writes less than 10 policies a year. Since that person is simply taking up space, you can "petition to replace."
Also...check the obits.
Yeah, I know. There are many goofy regulations here.
Rick
- 159
"We're full up for insurance agents." I like that. Headline: California agents pick up mantle for Tag Team Wrestling.
They are already lower than that in Florida. The only states that weren't reduced for United World are; Ohio, South Carolina and Tennessee.They won't get my business if they are lower than 18% commission.
- 7,066
Yes we do only we can do it on the anniversary date of the policy as opposed to the client's birthday.
It really is not in the best interest of the client in my opinion. Agents go looking for people who can't pass underwriting and then move them in to the lowest premium company in the state.
Since premiums are based on claims, all of a sudden the company that was doing a good job of trying to keep claims down now has a bunch of chronically ill policy holders and claims go through the roof.
So what do agents do, them begin moving their clients again. They spend all their time moving existing clients, lots of time and no money in it.
Personally, I wish they would repeal that.
- 7,066
They won't get my business if they are lower than 18% commission.
The amount of commission one makes should never be a major consideration, in my opinion.
I would rank it fourth from the top in the most important considerations when selling. The first is writing apps, the second from the top is writing apps and third from the top of the list is writing apps.
It doesn't matter how much the premium is or what the commission is, the only thing that agents should concentrate on is, yep, writing apps.
If one's goal is to write apps, the money will come. I made a lot of money, six figures, writing Med Supp apps for 15% commission back in the mid and late 90's.
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- Thread starter
- #18
- 1,240
I did the same Frank....you must have written for Pioneer Life I wrote a ton of that.
- 7,066
No, actually during that time I was captive with UA.
At the time they not only had great prices on Med Supps, they were the only company in the state, other than BC&BS, that was issue age. All the rest were attained age.
I have nothing but fond memories of UA, they treated me like a king.
UA was a kick-ass company to work for then.
- 15,319
I don't agree with Frank. (I'd tell him he was wrong but the last time I did he mentioned something about his guns). While there is the chance of loading a low priced carrier with chronically ill people, there is a flip side.
I'm sure this doesn't happen with any of the companies we use, but some carriers will dramatically increase the rates after a few years. Therefore, the healthy people go from (for example) Mutual of Omaha to United World. Or, Continental to American Continental. The "sick" people don't have that choice and eventually cannot afford their coverage. The new company has no claims because all the people are healthy. The old company keeps going up because no new "blood" is enrolling.
A better alternative might be to require an open enrollment period if the current carrier has a rate increase of more than 6% in a given year. I've heard horror stories of med supps going up 30%.
I do write people on G.I. basis because of the birthday rule in California. If companies don't like that, then don't enter the state. Didn't see to stop United World from blowing out virtually every carrier and hasn't scared Lincoln Heritage from dropping their rates 30% in L.A. County.
As a 70 yr. old female senior (not me, no jokes) I would prefer paying United World $154 rather than Blue Cross $209 for the same Plan F in Los Angeles Country. And if UW raises their price 50% next year, I know I can find another carrier I can afford.
Rick
