Quickest Simplest Term Policies

golden12

New Member
8
Transamerica is supposed to be simple and quick. But they have been so complicated since i started.After spending hours filling out the applications, this was wrong and that. I needed to redo everything.
Banner is making the physicals impossible to complete.
I am waiting months to get paid on two couples. Meanwhile I do not want to process new clients, until I am confident in the process.
Please help.
 
You sound like you are having typical problems that most FE or SIWL agents have when using fully underwritten products. Not as easy with 20 page apps vs 4 page apps, Lots of little details.

Your best bet is to submit the app to your upline for scrubbing to help stop the nitpicking by the carrier and to help train you on the details of the app before sending to the carrier. This should help.

As for the easiest Term....I would say UHL has that as it is similar to an FE app. Rates will not compare to Trans or Banner since UHL is more of a SI term.
 
Transamerica is supposed to be simple and quick. But they have been so complicated since i started.After spending hours filling out the applications, this was wrong and that. I needed to redo everything.
Banner is making the physicals impossible to complete.
I am waiting months to get paid on two couples. Meanwhile I do not want to process new clients, until I am confident in the process.
Please help.

So I'm wondering, "supposed to be simple and quick", according to who? You know how it's important to manage a client's expectations through the process, so they know what will happen and how long it will take? You, too, will quickly learn what to expect and have expectations of the process. For now though, it sounds like you may have submitted apps with errors and then had APS orders to wait on... sounds like a 45+ days process to me.
I agree with Twilight on a couple levels: first, your upline should be able to 'scrub' your app (check for errors) before it gets submitted and provide guidance on the process. Second, I couldn't think of another carrier I work with that has a simpler app than UHL. Americo is quite easy, too, with just a few pages. I'd suggest that if you're new, focus on writing simplified issue policies for a while to familiarize yourself with the process and build a comfort level. The rates aren't as competitive as a standard or better fully underwritten deal, but that's not hard to overcome -- you don't know the actual premiums a client will get until a policy is approved when you go fully underwritten, and you can get results for them within a week with no exam required.
 
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Golden:

You can help with the Banner application if they are having trouble connecting with your client. I have called my client and had a 3 way connection to get it done. I like Banners simple online process. Transamerica and their paper apps are problematic. I like the online process of Banner, Am. General, Genworth, Protective to name a few. Are you using ipipeline or an online system? You might want to consider Sagicor as well. They are SI and have a nice phone process with the potential of a preferred rate.
The other side to this is when you clients have health issues then you are in a longer process with all carriers.
 
I recently purchased a Banner policy from an agent that uses the ezlife sales system. I used to sell life in a past life but needed to update my coverage with a new policy and I no longer sell life. I couldn't believe how well Banner handled the whole process. Very automated and quick. It was so smooth that I want to start selling again. Not kidding.

Gulliver
 
I recently purchased a Banner policy from an agent that uses the ezlife sales system. I used to sell life in a past life but needed to update my coverage with a new policy and I no longer sell life. I couldn't believe how well Banner handled the whole process. Very automated and quick. It was so smooth that I want to start selling again. Not kidding.

Gulliver

Great feedback! To be clear though, the EZLife team is who your feedback is directed to, not Banner. We staff the person that called you to complete your application, and did NOT send it to Banner App Assist! The process and results are very different...we choose to staff the reps so we can control quality and process. Glad you liked our process!:biggrin:
 
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