Need Real Help. Just the Facts!

[Newby]

I am a captive P&C agent that sales some L&H. My current book is full of older people and where I market and the communities I work are under served in the FE market. After doing this research, I've come to the decision to open a highly visible FE only agency and need to offer many options. I won't put on airs and pretend that I have a large P&C book making 6 figures, but I'm making a good living off it, it's just too volatile in my market and the company I write for is no longer a good fit for me. Going from a captive (niche) company and moving toward another niche (FE only) might seem crazy, but I'm going for it. The help I need is: What companies offer FE insurance. I have a couple and are vetting them now, but I need help in just finding out who's out there. So if you can list some that don't require you to be captive, that would be great.

An FMO agency (like ours) is a good place to get guidance on your choice of companies AND higher contracts than you can get direct. You are independent and paid direct from the companies but get MUCH better guidance and information than the companies would ever give you.

I will recommend that you get all of these companies so that I can help you cover any case you run into:

Americo, 5-Star, Oxford /Christian Fidelity , Monumental, Settlers, Lafayette, Aetna. In addition you would pick up Gerber just for the rare Guaranteed Issue cases as a last resort.

This is the line up that sells millions for agencies just like yours.

 

[Biggin]

If you can get your application in TODAY, CSA is a good one. They are out of the FE biz at midnight.

 

[blue_wynd]

Here is a good piece from Newby. Can answer some of your questions on what carriers to contract.

How to Choose Which FE Companies to Carry

 

[Canureallysale]

Lots of good info and resources so far. I'm seeing a lot on what seems to be negative comments about this 5 star. I'm not opposed to some hard work (after all I am an insurance agent), but dealing with a bag full of idiots won't work for me starting out. Getting to learn guidelines and what works best with my style is key, but like all of us I hate slow paying companies. It can take months to land a sale, by then I've spent some money to get the sale, don't want to wait forever for my check. I tend to lose track and move on if it takes too long.

I plan to check out about 10 but will start with no more than 3. So far Transamerica / Monumental gets a nod. They seem to have ok rates and product offering, but the underwriting (for me ) is unknown, any light you can shed would be good.

Thanks and please know that what ever advice I'm getting I take with grain of salt. Like that glock 22 comment. I guess by my comments you can't tell I'm not a bottom feeder. S&W 686+ all day, every day.

 

[xrac]

An FMO agency (like ours) is a good place to get guidance on your choice of companies AND higher contracts than you can get direct. You are independent and paid direct from the companies but get MUCH better guidance and information than the companies would ever give you. I will recommend that you get all of these companies so that I can help you cover any case you run into: Americo, 5-Star, Oxford /Christian Fidelity , Monumental, Settlers, Lafayette, Aetna. In addition you would pick up Gerber just for the rare Guaranteed Issue cases as a last resort. This is the line up that sells millions for agencies just like yours.

Newby also offers good training.

 

[AnonymousOne]

Hope this helps, but I'm no full time FE expert.
Pick 2 or 3 companies that you know the sweet spot of ie diabetics, height weight, few medications, then hit the road. I started with 3, pulled trans out of my bag the first few times. Next 2 went to diff companies due to price and meds.

 

[rizzle]

So far Transamerica / Monumental gets a nod. They seem to have ok rates and product offering, but the underwriting (for me ) is unknown, any light you can shed would be good.

no go for insulin users
good for mental disorders, used them today for a client that looked and acted like Karl in sling blade.

 

[jacobtn]

I wouldn't use monumental starting out. Their uw is unpredictable and rates subpar. No point of sale approval which I think is critical when you're new, it's easy to miss something and you don't want to have to go back out for a rewrite.

Best carriers

5 star
Foresters
Lafayette
Aetna

(In that order)
Pick up a gi carrier to go with the above and you are good to go for now. We are an Imo for 5 star and offer top contracts for those mentioned.

 

[AnonymousOne]

I should also note, I wasnt running FE leads or mailers. Normal health folks, 50s some 60s. Wrote the first 5 or so with only an amendment here and there that were my error. Also all issued perfectly from trans, not sure if they ever did follow up with an interview, each client was told to expect the call.

 

[Tom from Denver]

As you're new to FE, I would not recommend 5 Star (too many issues right now), and would definitely stay away from Lafayette (flakey PHI for the typical FE prospect).

Would substitute instead with Oxford and Royal Neighbors. Both use PHI, offer good service to you and to your clients.

Good luck !