Need Advice On Final Expense...

[shortcut]

I have been primarily focused on annuities, medicare supplements, and life insurance for younger individuals...but I have begun to meet with a lot more elderly clients.

I currently have contracts on the final expense side with:

Assurity
Conseco
Baltimore Life
United Home Life
Fidelity Life

(I also have Americo but fighting to get away from an old FMO)

What other companies do I need to consider?

- Presidential?
- Monumental?
- Royal Neighbors?
- Settlers?
- American Amicable?
- Others??

Any contracts with FE companies will of course be considered...you can PM me!

 

[Russ]

I have been primarily focused on annuities, medicare supplements, and life insurance for younger individuals...but I have begun to meet with a lot more elderly clients.

I currently have contracts on the final expense side with:

Assurity
Conseco
Baltimore Life
United Home Life
Fidelity Life

(I also have Americo but fighting to get away from an old FMO)

What other companies do I need to consider?

- Presidential?
- Monumental?
- Royal Neighbors?
- Settlers?
- American Amicable?
- Others??

Any contracts with FE companies will of course be considered...you can PM me!

I can't speak for the other companies on your "consider" list, but Settlers does a good job. No PI's under 10,000 unless spot checking. Two-years on graded. They can draft the initial payment, UNLESS it's a single-premium pay. I found that out this week after they had called the insured to verify it was okay to draft her account for the amount.

 

[Newby]

I 2nd that Settlers is the main one to have. You won't need Presidential if you write a lot of Settlers. Their Bronze plan is cheaper for the client and pays you better too.

 

[shortcut]

Anyone have a good contract for Settler's?

 

[Newby]

Anyone have a good contract for Settler's?

What state are you in?

 

[Russ]

What state are you in?

Says Alabama.

 

[Tfree]

I 2nd that Settlers is the main one to have. You won't need Presidential if you write a lot of Settlers. Their Bronze plan is cheaper for the client and pays you better too.

Please check with Settlers because last time I was told you are limited to aprox. 5% total graded policies on all business written. Just thought you all should be aware. United Home Life for one doesnt have any restrictions on graded as well as a few others.

 

[Russ]

Please check with Settlers because last time I was told you are limited to aprox. 5% total graded policies on all business written. Just thought you all should be aware. United Home Life for one doesnt have any restrictions on graded as well as a few others.

Their underwriting guideline from June 2008 says...."less than 20% of your applications issued."

 

[shortcut]

I'm in South Carolina

I won't be doing much graded...but some...

 

[Newby]

I'm not taking anyone outside of Indiana KY or TN.
No one should be writing more than 20% graded.