Security national insurance

Discussion in 'Final Expense Forum' started by NuUzr, Aug 3, 2017.

  1. NuUzr
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    NuUzr Well-Known Member

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    OK.. the basic google research has been done. Here's a few questions and forgive me ahead of time, the answers may be obvious.

    This company is actively recruiting FE agents(along with funeral preneed). I've listened to a few calls and they repeatedly say, "we are employees of the company(SNL) -- you will NOT be an employee."

    Is this considered an IMO? Is it captive?

    One of the main selling points of them being an "employee" is it's their "job" to help you/agents. A direct Mgr, office mgr, any support staff will be available at any point while visiting with a client. They stressed - "not like the others" .. who are mavericks and pick and choose who they will work with.

    They pointed out the pitfalls of the IMOs bringing on 50-100,200 nationally hoping a few will stick. Apparently with their structure, although sales has a natural turnover rate, they tend to keep agents due to the 'one on one' nature of training they provide.

    AP numbers weren't shared but they dismissed others who offered 80% so it's higher. They have a lead program as well.

    My first thought is - what a great opportunity for a new person. My second thought is I haven't heard anything else about yet...

    They are "employees.. Available at all times.. renewals.. publicly traded.. on going training etc .. but somehow I get the feeling agents get screwed somehow because they make it very clear YOU ARE NOT EMPLOYEES BUT WE ARE..

    I don't know..
     
  2. HoosierLife
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    HoosierLife Well-Known Member

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    I see Adam Brysan posting on FB all the time. Obviously it's a captive position to snl. 110% contracts and $15 DM leads.

    Not bad. I like the snl product, but it's good for the super healthy and near GI, not really much else in between.

    Plus they're having some drafting problems of late.

    But you could do much much worse.
     
  3. adjusterjack
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    adjusterjack Well-Known Member

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    Then ask for a copy of their agent/commission contract and read it thoroughly and carefully before deciding to go with them.

    You could easily be a non-employee (in business for yourself) but get stuck with an exclusivity condition where you can't sell anybody else's FE products.
     
  4. Newby
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    Newby Well-Known Member

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    One thing to be aware of is the release can be an issue for agents who go direct to SNL. There is something about their set up when you go under one of their salaried guys that they do not release your SNL contract if you later go independent. You will have to cancel the contract entirely and then wait it out if you want to move it elsewhere.

    We have run into that several times.
     
  5. Birdman300
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    Birdman300 Well-Known Member

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    I haven't written them in over a year. The plans are neutered in the state I do most of my biz. Their graded is 3 years instead of 2. Weird Nevada thing I guess. Any other agents in Nevada on here use them?
     
  6. BibH
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    BibH Well-Known Member

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    SNL will never be a go to carrier as they don't take copd and insulin is standard. So if you can't write other carriers 110% and $15 dm leads are worthless.
     
  7. Salnew
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    Salnew New Member

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    What drafting problems have you had with them? I had an issue where they could never locate the client's bank account even though I actually went to the bank with the client and got the number direct from the teller. I was curious if this was a one off issue.
     
  8. HoosierLife
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    HoosierLife Well-Known Member

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    Yeah that and saying CC cards weren't real cards and then drafting late when they did draft.
     
  9. Salnew
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    Salnew New Member

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    Good to know, thanks. I lost the client's trust over that one, would hate for it to happen again.
     
  10. billyb
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    billyb Well-Known Member

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    I had a business owner want a policy on one his older employees and one on his father. Listed the same account number on each application with SNL. One went through and the other they can't verify. Want me to get a void check or bank statement even though one of the polices cleared using the same account.
     
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