Senior Life Insurance Company Info

[360]

I don't know how old you are or how long you have been in the business but you seem to be really hung up on this "underwritter" phrase.. In the old days, one of the most common terms used for an agent was "Field Underwritter" . Some companies even use d that as the title on agents business cards. That was and still is the basis of our job. Even, more so now that we have SI yes or no apps. When you use the questions to determine the coverage the applicant qualifies for you are "underwriting" the case.

Of course, that term has a completely different meaning from when it was first used. The term began to be used for maritime coverage. When a ship was leaving, the bill of laden was posted and if an investor was willing to accept a portion of the risk, they would write their name at the bottom along wiht the amount of risk they would assume, hence the term underwriter.

Louis...I'm fully aware of the term "field underwriter". I'm talking about positioning yourself as an underwriter and NOT as an agent or when being asked directly if you are an insurance agent someone saying "no ma'am I'm just an underwriter". You think that's ok?

 

[rousemark]

For a phone sales shop Greg also doesn't have too many options as there is not a single carrier out there with A-Z underwriting that does it by phone. It would be pretty tough to move somewhere without making the switch back to F2F.

Equitable L&C has a paperless system that is handled completely over the telephone even if you are F2F... You prequalify the client, then call the POS. They take the app over the phone including Bank Draft info and do a voice signature. If you do it over the phone with the client, you simply do a three way call with POS or have POS call the client later. The only time you ever have to fill out a piece of paper or get a wet signature is if you need a replacement form completed. That is pretty much A-Z.

 

[360]

And you find Equitable a good product with regards to rates and UW? I can't fathom using them as an everyday carrier.

 

[rousemark]

Louis...I'm fully aware of the term "field underwriter". I'm talking about positioning yourself as an underwriter and NOT as an agent or when being asked directly if you are an insurance agent someone saying "no ma'am I'm just an underwriter". You think that's ok?

No, I don't think it is OK if yoou are using the term to mislead a prospect. I wouldn't do even if I thought it was OK. But, then I also never represent myself to be a broker even though I repesent more than one company due to the legal implications of the term. A broker represents the client.. an agent represents the company.

 

[jdeasy]

C'mon JD let's be real. Your posts about EFES are responsible for recruiting more agents to EFES in a week that ol' Greg would recruit in a year. I know you are technically not recruiting directly but I'd bet my lunch you are their best recruiter bar none.

For a phone sales shop Greg also doesn't have too many options as there is not a single carrier out there with A-Z underwriting that does it by phone. It would be pretty tough to move somewhere without making the switch back to F2F.

That may be true about people going to EFES because of what I've posted here, but that is not my intent nor do I get anything for that.

I have told many, probably more than half of the ones that do contact me privately about EFES that it is not for them. Some that I have told that didn't listen and went with EFES anyway. None of them are still with EFES that didn't take the advice in the first place.

Greg says he did face to face and still does some. It wouldn't be a difficult switch back if he wanted.

 

[360]

Not sure where you are going with this one. Are you saying that if an independent agent called himself a broker that would be as misleading as an agent calling himself an underwriter and not and when specifically questioned not an agent?

Since when did the term "broker" come to mean that you represent solely the client. You ever meet a stock broker? You think he/she solely represents the interests of their client or how about a mortgage broker?
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That may be true about people going to EFES because of what I've posted here, but that is not my intent nor do I get anything for that.

I have told many, probably more than half of the ones that do contact me privately about EFES that it is not for them. Some that I have told that didn't listen and went with EFES anyway. None of them are still with EFES that didn't take the advice in the first place.

Greg says he did face to face and still does some. It wouldn't be a difficult switch back if he wanted.

I know man...I'm just poking a little fun at you.

 

[jdeasy]

He is often recruiting, but he is very open about it. He does offer some advice with no strings attached that have helped others. I have yet to hear anybody that knows how to use (and share) the 'hard close' better than Greg.

I suppose that is a matter of opinion on how good that advice is. Wasn't particularly impressive to me, but then again, I do not use a "hard close" and have no intentions of doing so.

But, that is the real purpose and the value of this forum. I have learned much from reading here and getting to know agents here.

I've said before and will say again that I am a better agent today because of the last 4 years of learning from this forum.

 

[rousemark]

And you find Equitable a good product with regards to rates and UW? I can't fathom using them as an everyday carrier.

They are mid range on rates but have some niches that work out fairly good. One is insulin dependent diabetics that do not have heart disease, especially since they will take younger adults that have Type I for immediate coverage. They also give immediate coverage to COPD clients as long as they do not smoke. . They are cheaper than the UHL SI Deluxe plan.
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Not sure where you are going with this one. Are you saying that if an independent agent called himself a broker that would be as misleading as an agent calling himself an underwriter and not and when specifically questioned not an agent?

Since when did the term "broker" come to mean that you represent solely the client. You ever meet a stock broker? You think he/she solely represents the interests of their client or how about a mortgage broker?

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Not really going anywhere except to say "agent" is the only title I use. I don't know why agetns feel they have to represent themselves as "advisors" , Finacial Planners, or any number of titles that disguise the fact that the main thing they are going to try to do is sell you insurance.

Maybe the insurance laws have changed but when I started a "broker" was considered to represent the client in negotiations and an agent represented the company. The difference in liability was that if a client claimed you as the broker knowingly placed them with inferior coverage that what was available elsewhere, you could be held liable

 

[Newby]

They are mid range on rates but have some niches that work out fairly good. One is insulin dependent diabetics that do not have heart disease, especially since they will take younger adults that have Type I for immediate coverage. They also give immediate coverage to COPD clients as long as they do not smoke. . They are cheaper than the UHL SI Deluxe plan.
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Not really going anywhere except to say "agent" is the only title I use. I don't know why agetns feel they have to represent themselves as "advisors" , Finacial Planners, or any number of titles that disguise the fact that the main thing they are going to try to do is sell you insurance.

Maybe the insurance laws have changed but when I started a "broker" was considered to represent the client in negotiations and an agent represented the company. The difference in liability was that if a client claimed you as the broker knowingly placed them with inferior coverage that what was available elsewhere, you could be held liable

You met someone with COPD that quit smoking?

 

[RonRoberts]

They are mid range on rates but have some niches that work out fairly good. One is insulin dependent diabetics that do not have heart disease, especially since they will take younger adults that have Type I for immediate coverage. They also give immediate coverage to COPD clients as long as they do not smoke. . They are cheaper than the UHL SI Deluxe plan.

Are you saying that Equitable does not have a time for which there coverage would be offered at level?

Example: W/in 12 months graded
W/in 24 months or longer level

This is good to know because I do not know any companies that will extend level coverage to someone diagnoses with COPD/Emphysema within last 12 months.

Thanks.