Oxford Life - Why or Why Not?

[PaulieD]

As a relatively new agent that writes with a small bag, I would love to write Oxford because their price points are very good.

I am afraid because of the stories told about them on here. There seems to be a lack of consistency in underwriting and an avoidance of quality agent service via the telephone.

 

[Calbear2]

The new app process is good. Between rates and commission they are my go to company now. Only problem is that if you *** up the app in any way you need to get another client signature before issue.

 

[Biggin]

It is treated differently because it is a different product. In this scenario the agent would get paid on the FE policy.

I got curious and called Oxford and they said that I would be payed renewal commission only, no first year. yeesh.

 

[Todd King]

I got curious and called Oxford and they said that I would be payed renewal commission only, no first year. yeesh.

Now see, I had my go to marketer ask the same question. I believe him over who you spoke with.

 

[MosesNewmanNAAIP]

N.A.A.I.P. is all on board with Oxford Life - Very good information below on submitting your first application.

Frequently Asked Questions


Q: How do I submit business?:
A: 1. Request a contract from N.A.A.I.P. 2. Goto www.oxfordlife.com and press the forms icon at #8 on the phone dial. Click through to Oxford Life Sales Forms and New Business Forms. Just In time Contracting is in 90% of the States. 3. Print Forms. 4. Sell Product. 5. Client does phone interview (833-705-4019) via InstaWright process which which only takes 5-7 minutes. Hours are 8am-7pm CT. Online assessments are available instead of the phone call. Client must give ss number, address, and med authorization ok. The main issue will be prescription history check in Oxford's system. This is being done in the background. If declined, Oxford will not tell why immediately, but will send letter/or email to client as to why declined. Client can call in to Instaright themselves. Afterwards, agent sends in paper app via mail, eapp or via fax. Fax: 877-584-2777. email: [email protected]. - Make note that you filled out contracting to be appointed.


Q: Is "Just In Time" required for all products?
A: Yes, “Just In Time” contracting is required for all products in the “Just in Time” states. You must submit contracting to be appointed with Oxford Life prior to submitting business only in the pre-appointment states listed above.


Q: Where can I get supplies to write my first piece of business?
A: New business applications and forms are available at www.oxfordlife.com. Click on “Forms,” select the appropriate company, and then “New Business Forms.” You can then print all necessary supplies. Once your contract is approved, you may login to your agent portal where you can order additional supplies.


Q: When will my agent ID # be assigned?
A: Your agent ID with Oxford Life will be assigned upon approval of your contract. During our review, you may use the last four (4) digits of your SSN in the producer number field on the new business application in order to assist in identifying you when business is received. Submitting business does not automatically guarantee approval of your contract.


Q: What happens to my business if my contract is not approved in a "Just In Time" state?
A: Oxford Life will not accept any application for insurance if your contract is not approved. The application will be withdrawn and notice of this action will be sent to the applicant. Any premium received will be returned.


Q: When I submit contracting and a new business application, will I be appointed in all states that I am licensed?
A: For “Just In Time” states, you will be appointed in the state in which you submitted business. If you submit business in a state other than your resident state, you must pay the non-resident appointment fee. At your request, you may be appointed in any of the pre-appointment states. However, to be appointed in a pre-appointment state, in addition to contracting, you must submit your license(s) and any applicable non-residence fee(s).


Q: Who pays the non-resident appointment fee?
A: The producer must pay any non-resident appointment fees whether a “Just In Time” or pre-appointment state. You may pay this fee through the Agent Portal by selecting “My Tools” and “Fees.”


Q: What happens if I submit contracting, but not business in a "Just In Time" state?
A: Oxford Life will not request background reports and/or continue processing the contract without business in any “Just In Time” state. Your contract will be archived until business is received. We will keep your contract on file for 6 months.


Q: What else should I know before requesting to contract or soliciting a piece of business?
A: Oxford Life requires that you verify you have met all of the following requirements before submitting contracting:


Current Errors and Omissions (E&O) insurance with coverage of $1 million per claim and aggregate;


AML training must be completed within the past 3 years;



Any delay in the above may require the pending application for business be withdrawn or re-dated with the applicant to adhere to all state requirements.


We look forward to doing business with you. If you have any questions, please call (800)770-0492.

 

[Biggin]

Now see, I had my go to marketer ask the same question. I believe him over who you spoke with.

The person I talked to was giving me a lot of "possiblys" and "maybes" and "more than likelys" So I asked her to ask someone that can tell me "will" or "won't". She went to speak to someone else and gave me the "won't". So ya, who knows. How about I submit the app and see what happens. I'll withdraw if they don't pay.

 

[donamese]

They treat single premium different than level pay. If the single pay was cashed out then then client wants level then commissions should be full.

 

[FinalExpenseDojo.com]

If I ever have to question if a carrier is going to pay me on a sale or not I'm probably not using the right carrier!

 

[NSRH]

If I ever have to question if a carrier is going to pay me on a sale or not I'm probably not using the right carrier!

And you’d think that would be common sense.

 

[JoshC]

I guess it's a damned if you do and damned if you don't deal, but I have to admit that I'm not a huge fan of this new process where you just get a flat approve or decline with no more information. The old interview was a pain, but at least the meds that showed up were brought out into the open so I could hear what we were dealing with in case of a decline.