Three Companies

[GoPokes]

as i stated a week ago i have narrowed my fe co. down to snl trans. and lh....my question for only the ones that have actually worked for these co.is what is the good bad and the ugly for these three..especially for snl and ta....like how soon do they pay commission...how soon do they pay claims....how easy or hard is the uw...do they have a 20 page app or a 1 page...is it fully underwritten..or any other info would be much appreciated thanks.

I guess Ill take the bait. Snl pays after the draft, fairly quickly. Not sure about trans, havent used them in about a year, when I did, they paid comp before the draft.

As far as paying claims goes, there never seems to be clear cut response. If a policy is contestable, most companies take a bit longer. If it's not contestable, then payment is quicker.

Snl app is only a few pages long, while the trans is much longer. YOur best bet is to get appointed, order some sales material (applications and field underwriting guide) look over the questions and get familiar with underwriting.

Your best approach is to stop overthinking it like these guys have all stated. Just "eat the elephant one bite at a time". Do some prospecting... set appointments, run appointments, build rapport, fact find, propose a solution to customer problem, get app out of bag, fill it out, submit it, get paid, deliver policy, then repeat! Good luck

 

[Todd King]

as i stated a week ago i have narrowed my fe co. down to snl trans. and lh....my question for only the ones that have actually worked for these co.is what is the good bad and the ugly for these three..especially for snl and ta....like how soon do they pay commission...how soon do they pay claims....how easy or hard is the uw...do they have a 20 page app or a 1 page...is it fully underwritten..or any other info would be much appreciated thanks.

How in the world have you "narrowed" it down to LH being one of your companies? It sounds like you've done a lot of research and still come up with the wrong answers that you don't even understand.

Your next question should be, "Why do all of the independent agents bash LH"?

 

[gohogsgo]

How in the world have you "narrowed" it down to LH being one of your companies? It sounds like you've done a lot of research and still come up with the wrong answers that you don't even understand.

Your next question should be, "Why do all of the independent agents bash LH"?

well i worked for lh for about 6yrs...and i never had any of the problems that ive seen on here..except the lead balance....it was to the point that i was working to pay my balance out of each policy i wrote...i plan on this time to pay as i go...and i wanted to see if there was another co out there that was about the same ...and there is a different manager this time and he wants to give me a 15 pt drop in commission ....this is why im asking so many questions...plus i dont want to go with 20 different co....i want 1 good co. with a good comm.and that pays quick not in weeks...and a co. that will issue policies...if i go out and write i want to make sure im getting paid....these r just a few things as to why im asking thanks

 

[Birdman300]

well i worked for lh for about 6yrs...and i never had any of the problems that ive seen on here..except the lead balance....it was to the point that i was working to pay my balance out of each policy i wrote...i plan on this time to pay as i go...and i wanted to see if there was another co out there that was about the same ...and there is a different manager this time and he wants to give me a 15 pt drop in commission ....this is why im asking so many questions...plus i dont want to go with 20 different co....i want 1 good co. with a good comm.and that pays quick not in weeks...and a co. that will issue policies...if i go out and write i want to make sure im getting paid....these r just a few things as to why im asking thanks

No offense but I'm sure your competition would love for you to write lots of LH. I pray every day to come across those. For agents like me that have multiple competitive carriers to choose from, finding a LH is a gift from God.

Carriers you ask....trans, Aetna, rna, Oxford, SNL, trinity, foresters...even 5 Star , Americo, or even Lafayette have value. Having 15 carriers isn't always a bad thing. Most agents that have 15+ carriers probably only write 2-3 on a regular basis anyway. Just makes you more versatile I think.

You have 3 great resources that chimed in on this thread...fex, 360, Todd King. I'd start there if I were in your shoes. Best of luck.

 

[just some f.e.llow]

Why is a one page app the gold standard? I believe we can get it down to a half a page.

I bet we could get a carrier to take a napkin with crayon signature if we look hard enough

 

[shonceman]

Why is a one page app the gold standard? I believe we can get it down to a half a page.

SNL Home Service division uses a half page on card stock for their "Industrial" policy. It used to be on a 3 x 5 card, but older agents like me couldn't write that small!