Settlers

[Newby]

back to the other post

So there not actually closing there doors, they are just going to stop offering FE.

Settlers IS closing their doors. NGL (the parent company) is not. NGL will administer the Settlers book of business. But Settlers will not be open for business.

 

[VolAgent]

back to the other post

So there not actually closing there doors, they are just going to stop offering FE.

Best way to think of it, Settlers just sold the book of business to its parent.

Policies will stay in force, premiums will be collected, death benefits paid, and renewals paid. Just no more new business and no more Settlers name.

 

[WinoBlues]

So what exactly does something like this mean for an agent and that agents client. So obviously an agent can't write business for them anymore, but what does it mean for the clients policy, does the agent have to try to find them a new carrier??

Suggestion; if possible get a current copy of the summary reports. Download service forms. Plan on not having access to current Client info.

 

[Russ]

Bye Bye Settlers. Enjoyed writing some business with you. The life insurance market seems to be dwindling.

 

[Life Hawk]

Never wrote it... but when I set down with one of your clients and say they don't do business any more... you won't like me much...

 

[rousemark]

Never wrote it... but when I set down with one of your clients and say they don't do business any more... you won't like me much...

Why? Th decision doesn't affect in force business.. Claims will still paid..

 

[Life Hawk]

Why? Th decision doesn't affect in force business.. Claims will still paid..

So then... your admitting you like me now!

 

[rousemark]

So then... your admitting you like me now!

Like you fine as long as you aren't misleading clients on what the Settlers decision means to them. Would hate to think someone would come in and replace an incontestable Settlers policy with a new contestable plan using a scare tactic that Settlers had gone out of business...

 

[rousemark]

And, to think they just sent out asking for feeedback on that cumbersome, expensive sales kit they put together.. Must not like what they heard..

 

[Life Hawk]

Like you fine as long as you aren't misleading clients on what the Settlers decision means to them. Would hate to think someone would come in and replace an incontestable Settlers policy with a new contestable plan using a scare tactic that Settlers had gone out of business...

You seem like a good sort rousemark... but I have this feeling that I just gave you a wedgie...

...and you are spot on about replacement... just felt like pulling a chain to see who would respond...