Termination for Cause

[vic120]

Replacing your own business with Med Supps is acceptable and it's just part of the way it's done. If you don't move your clients to a cheaper rate every 2-4 years.....another agent will.

You can't group Med Supps into a replacement conversation about FE and Annuities. Apples and oranges.

You know just really learned this lesson, I started in 2011, however, I did mostly AARP NY, FL,& MI till around 2014-2015 when I started to focus on other states

Only started to see that drop off toward the beginning of this year and started flipping this year, and it has been great, great refurells as well as higher premiums on flips as well

 

[goillini52]

You know just really learned this lesson, I started in 2011, however, I did mostly AARP NY, FL,& MI till around 2014-2015 when I started to focus on other states

Only started to see that drop off toward the beginning of this year and started flipping this year, and it has been great, great refurells as well as higher premiums on flips as well

And when you flip them, with the money you save them, you can cross sell FE, dental, cancer, etc. Also you get a fresh 6 years of FYC.

 

[vic120]

And when you flip them, with the money you save them, you can cross sell FE, dental, cancer, etc. Also you get a fresh 6 years of FYC.

I'm so bad At FE, though, Mainly because there are so many states, I don't know the underwriting well, and I still don't know how it works when they have a plan already, do they get money back how much and so forth, I have to take time and learn it someday but it seems like a lot and I always have new things to learn elsewhere

I do a little dental I do want to start Cancer, Ill take some time and learn that product next year seems simple enough

I did a few home healthcare plans with kemper that paid back for drugs and it was a good deal However I found clients were confused on how to submit and I ended up doing too much service work on it

 

[Todd King]

I'm so bad At FE, though, Mainly because there are so many states, I don't know the underwriting well, and I still don't know how it works when they have a plan already, do they get money back how much and so forth, I have to take time and learn it someday but it seems like a lot and I always have new things to learn elsewhere

I do a little dental I do want to start Cancer, Ill take some time and learn that product next year seems simple enough

I did a few home healthcare plans with kemper that paid back for drugs and it was a good deal However I found clients were confused on how to submit and I ended up doing too much service work on it

Give me about 15 minutes on the phone with you and I'll make it easy for you to understand. It is much simpler than you are thinking.

 

[somarco]

I have heard of agents replacing years old policies for $105 of Cash Values and or saving the insured $5mo.

At one time I took an insurance break and worked different places. One of the jobs was a company that did VA streamline refi's. We had offices in a building with 3 or 4 AF recruiting stations.

During our AM sales meeting (which I hated) the secretary came in and said the WTC had been hit by a plane.

This was 9/11/2001. The building was on immediate lockdown. The local manager handed out leads. Some of the guys were Vet's and refused to run leads that day. The next day they were fired.

I didn't stay long after that.

What amazed me about this business was, you could save someone $10 - $20 per month on their mortgage and they would jump at the offer.

Save them $40 and they didn't believe you. Thought it was a scam.

Closing costs were rolled into the loan and we wrote a new 30 year loan. They actually ended up with more debt and less equity but they were saving $10 per month and thought it was a good deal.

I tried a few other things during my mid-life crisis. Those jobs were even more crooked than the mortgage game.

Finally decided it was time to go back to the insurance business where I at least knew who the crooks were but could play the game by my rules, not theirs.

 

[goillini52]

I'm so bad At FE, though, Mainly because there are so many states, I don't know the underwriting well, and I still don't know how it works when they have a plan already, do they get money back how much and so forth, I have to take time and learn it someday but it seems like a lot and I always have new things to learn elsewhere

I do a little dental I do want to start Cancer, Ill take some time and learn that product next year seems simple enough

I did a few home healthcare plans with kemper that paid back for drugs and it was a good deal However I found clients were confused on how to submit and I ended up doing too much service work on it

FE is a lot easier to learn than Med Supps. Learning the UW is the hardest part, and it's usually the same in all states.

GTL/UNL have the home health that pays for meds. I think it's a much better policy than Kemper's. It even has ask Mayo.

Give Todd a call. He could easily explain FE to you in 15 minutes.

 

[vic120]

FE is a lot easier to learn than Med Supps. Learning the UW is the hardest part, and it's usually the same in all states.

GTL/UNL have the home health that pays for meds. I think it's a much better policy than Kemper's. It even has ask Mayo.

Give Todd a call. He could easily explain FE to you in 15 minutes.

going to do that after AEP and saving this will check out those 2 next year as well

 

[billyb]

I have a book of old Medicare Supplements with UHC, Continental Life and Celtic. The rates on these policies have remained competitive so I can't replace them. I really don't think most people who are happy with their company would change for a few dollars a month and you also have to deal with underwriting.

 

[rousemark]

Client had a 5.5% surrender, I don't remember the exact dollar amount off hand, the contract was just shy of 5 years old when I replaced it. Clients have been happy, zero issues, I know it was the better option for them along with passing suitability. I am just curious how does this termination get reported to the DOI and what follow up does the DOI do?

If they terminated you for cause, the termination letter would have stated it... If it did not say it was for cause, move on and forget it.

 

[Life Hawk]

I do a little dental I do want to start Cancer, Ill take some time and learn that product next year seems simple enough

Great product that has amazing retention and decent renewals. Strongly suggest you bring yourself up to speed.

You'll thank me later.