It took him from 12-2-18 to last Friday 3-16-18 to get me FULLY able to write Americo! That is way too long! Yes, I am upset. Matter of fact, I wrote a term plan with them on or about 2-20-18 and the paperwork to be able to write it came in 3-16-18. Now, call me dumb and stupid. Would you dilly around that long KNOWING your agent wrote business and has every intention of writing more.
really poor IMO (Americo)
- Thread starter mudhound
- Start date
- 3,989
What do you even mean?
- Thread starter
- #3
Simple, Americo sells FE and term insurance. The FE side has a contract and I now know that Term insurance has it’s own contract.
- 3,989
That’s not how it worked for me is what I’m saying. One number and no extra work for all there products.
Nope, all one contract. Even if adding Med Supps or Annuities.
- 200
Yes it is one contract but like some of the other carriers like (MOO for example) you have to request to have access to some of the additional products. Other carriers like RNA, Foresters or UHL do not require this.
- 5,431
I am going through this right now myself. Wrote two MOO term contracts last week, but can't submit because I am contracted with MOO for FE only. Americo has a similar term product, but I come to discover I can't write HMS Term as I am contracted for, you guessed it: FE only!
This is a discussion an IMO should have with an agent/recruit up front, and not something an agent should find out after having written business. I'm in a pre-appoint state, so I need to be appointed for a product before I can submit. It is a big frustration for me.
If an IMO doesn't want any business but FE, that would be fine, but tell me up front if I need to go elsewhere to sell "life insurance"
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- 3,989
Like I said earlier this is clearly an IMO issue. I’ve never had this issue sorry for the guys that had. Check your other carriers to make sure if you had this issue once you avoid it again.
- 5,431
Agreed.
If an IMO knows this is the case, then it should be reflected in the initial contracting, i.e. either request contracting for all life products as a matter of course, or explain to the agent that the IMO is not interested in that business and the agent should seek a different hierarchy for Term products. If the IMO did not know this was the case, then why did the IMO not know?
- 1,912
The burden is on the agent. The agent should be aware of this and research before contracting.
IMO's are simply a necessary evil in the industry.
IMO's are simply a necessary evil in the industry.
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