Need Madison National Life Contract for My FE Sales A.S.A.P.

[lifeagentpa]

I am an independent Agent in a major metro area in need of a Madison National Life contract.

Yes, I understand MNL is a mixed-bag, but they fit the hole in my practice.

Please email or PM me and I will be in touch quickly.

Thanks so much for reading!

 

[Sales71]

Can u just call them directly.

 

[Todd King]

Just sent you a PM. I have them available.

 

[Josh]

Can u just call them directly.

Sort of. They have very specific production requirements for higher level contracts and some quirks about their contracting.

Madison is actually not just an FE company, they're a company that's a part of IHC (formerly known as IAC) and what most folks on here are calling "Madison National" is actually a final expense plan designed for an FMO so they can basically white label the insurance. They went to IHC (Madison) and told them what they wanted (telephonic, easy underwriting, quick pay, etc) and Madison put it together for them.

 

[Mark]

[email protected]

 

[arnguy]

Hey, Mark, didn't you recently drop Madison Life from your portfolio?

 

[Mark]

Hey, Mark, didn't you recently drop Madison Life from your portfolio?

Yes, and I released my 800+ agent directly to the company.


Their prices are very high. They added a ht/wt chart. Started some weird appt fee in NON Res states. Lead program kept going up on price.

Also, the business was not staying on the books. When most of the business comes from selling over the phone and the prices are that high, you are just asking for it.


I decided not to term my downlines contracts, and let them stay direct with the company and give them the option to decide.

That email address is with the VP of the company and he can hook you up.

 

[Josh]

I think the business not staying on the books had a lot more to do with the agent and/or the way it was sold vs the carrier. I haven't done a lot with them, but none of the policies that have been written by me or in my downline have cancelled.

 

[Mark]

Let's take a male 65 non smoker that wants 10k.

Let's act like he bought a policy from a Madison Agent.

He does it over the phone and pays $62.10

If another agent offers the same coverage for $51.27 with Foresters, do you think they would switch?


Also, it does help with the client knows your face, when it comes to making sure the bill gets paid every month.


IF Madison is working for you or anyone, that is great.

It just was not a good fit for me.

 

[Josh]

Face to face is a different situation, but if the agent sold it right, odds are the next agent won't make it in the door, let alone make a presentation.

More importantly, why is a 45 year old getting a 10,000 fe policy? Quote a 70 year old on $15 and we will see more savings.