TRANS VS SNL

[thespur1]

trans vs snl, pros cons which would you have as go to and why ?

Thanks in advance

 

[FinalExpenseDojo.com]

Transamerica by a mile.

1. Been in business for over 100 years. Great financial rating.
2. One of the best underwriting in the biz. Accepts neuropathy Preferred, COPD Standard, Hep C Standard, Parkinsons Standard, many hardcore blood thinners, & Nitro's at Standard. Plus much more.
3. They do billing the right way. True Social Security Billing. Accepts Direct Express.
4. Pays FULL comp on ages 45-85. The only company I know of that does this up to 85.

My only gripe with Transamerica is they won't pay on issue & there's no instant approval process so there are some surprises at times.

 

[SPUR CITY]

Transamerica by a mile.

1. Been in business for over 100 years. Great financial rating.
2. One of the best underwriting in the biz. Accepts neuropathy Preferred, COPD Standard, Hep C Standard, Parkinsons Standard, many hardcore blood thinners, & Nitro's at Standard. Plus much more.
3. They do billing the right way. True Social Security Billing. Accepts Direct Express.
4. Pays FULL comp on ages 45-85. The only company I know of that does this up to 85.

My only gripe with Transamerica is they won't pay on issue & there's no instant approval process so there are some surprises at times.

This is good stuff!

I have to say I do love security national for their modified plan. They take all kinds of stuff on their modified plan and you don’t get crushed on commission, you still get advanced & still qualify for the bonus which is only $1500 a month for 10% lead credit.

 

[Rearden]

Newby salesmen to insurance should only use TA as a backup carrier when other carriers will not insure at a preferred or standard rate.

Why? TA is an administrative nightmare, combined with 3x the paperwork to accurately compete.

Use a simple carrier like Security National or Trinity/Family when getting started as a bread and butter carrier to improve your chances of putting into force what you write.

 

[Agentguy5]

Like I say, "There's a reason I've been SNL's #1 agent, 3 years in a row"​

Yes, Transamerica could be my Go-To, but as long as there is a SNL, that will never happen. Trans has too many "FAIL's"

1. The Trans customer service department is full of minimum wage mentality workers. They act like they don't give a damn and pass false information on a regular basis. These guys consistently make mistakes and the left hand has no clue as to what the right hand is doing.
SNL is the opposite. Polite and helpful! If you want to speak with their Head underwriter, you can do that.

2. The trans App is difficult for new agents. I had an agent send me an app the other day with 6 errors on it. SNL is the opposite. Short and sweet! The SNL E-App is even easier as it's a "Dummy-Proof" option.

3. Trans doesn't have a POS option. SNL has the Web-App POS approval and is coming out with an optional POS phone interview. Oops, did I let the cat out again?

4. Trans wanted 120K for their last convention / Hawaii. If a sale fell off, they deducted the entire amount of points for the sale, whether the client fell off the books on the first month or 9th month. WTF? Go to Monaco with SNL, 100k in 15 months, P1/80 and P2/70

5. Trans is a huge company. You will never get a thank you call from anyone that works there. With SNL, the managers will call you and thank you for your business as they are smaller and tight nit. SNL loves to reward you for small accomplishments and has several little incentive contests each year. They truly appreciate your business and keep regular communication with agents that send them business on a weekly basis.

What Brokeguy4ever, Reardon, and Spur City said, is all good stuff!

 

[Rearden]

The telephonic point of sale option is a great idea. Much needed.

Any idea on when the roll-out date starts?

Like I say, "There's a reason I've been SNL's #1 agent, 3 years in a row"​

Yes, Transamerica could be my Go-To, but as long as there is a SNL, that will never happen. Trans has too many "FAIL's"

1. The Trans customer service department is full of minimum wage mentality workers. They act like they don't give a damn and pass false information on a regular basis. These guys consistently make mistakes and the left hand has no clue as to what the right hand is doing.
SNL is the opposite. Polite and helpful! If you want to speak with their Head underwriter, you can do that.

2. The trans App is difficult for new agents. I had an agent send me an app the other day with 6 errors on it. SNL is the opposite. Short and sweet! The SNL E-App is even easier as it's a "Dummy-Proof" option.

3. Trans doesn't have a POS option. SNL has the Web-App POS approval and is coming out with an optional POS phone interview. Oops, did I let the cat out again?

4. Trans wanted 120K for their last convention / Hawaii. If a sale fell off, they deducted the entire amount of points for the sale, whether the client fell off the books on the first month or 9th month. WTF? Go to Monaco with SNL, 100k in 15 months, P1/80 and P2/70

5. Trans is a huge company. You will never get a thank you call from anyone that works there. With SNL, the managers will call you and thank you for your business as they are smaller and tight nit. SNL loves to reward you for small accomplishments and has several little incentive contests each year. They truly appreciate your business and keep regular communication with agents that send them business on a weekly basis.

What Brokeguy4ever, Reardon, and Spur City said, is all good stuff!

 

[Agentguy5]

The telephonic point of sale option is a great idea. Much needed.

Any idea on when the roll-out date starts?

I was told "by the end of the year".

 

[HoosierLife]

Transamerica by a mile.

1. Been in business for over 100 years. Great financial rating.
2. One of the best underwriting in the biz. Accepts neuropathy Preferred, COPD Standard, Hep C Standard, Parkinsons Standard, many hardcore blood thinners, & Nitro's at Standard. Plus much more.
3. They do billing the right way. True Social Security Billing. Accepts Direct Express.
4. Pays FULL comp on ages 45-85. The only company I know of that does this up to 85.

My only gripe with Transamerica is they won't pay on issue & there's no instant approval process so there are some surprises at times.

Trans is def difficult for the new agent. An eapp with or without POS approval could make them a go to company for any agent. But I agree their home office staff is ridiculous to work with. You call in 3x and will get 3 different answers. If they make the mistake, like send you the wrong app, that’s on you lol.

I believe they pay the same 0-85, but I’ve only written a handful of the younger ages since they changed the apps a few years back. But having one company that does 0-85 is great. And not cutting comp at 75 or even 80 makes them a go to for those ages. SNL cuts your comp at the older ages.

You have to read their UW Guide to properly UW Trans though. (I’ve attached it)

I’d be careful with Hep C. Their guide says that it must be resolved, untreated and not active for 12/24 months.

Also, they will take blood thinners/isosorbide standard AND preferred as long as the dosage hasn’t changed and they were prescribed the meds longer than 12/24 months respectively.

The same with Nitro, except the client can’t have taken the Med in the last 12/24 months AT ALL. So they must have been prescribed over 12/24 months but not actually taken. If taken, then they would have to answer Yes to the Angina question.

They do Direct Express the right way. I’ve heard SNL is making changes, but their billing had been “off” in the last year.

Their app is much shorter, but they’ll still require amendments and signatures just like trans.

And unlike Trans, you can’t really talk to New Business by email (unless someone has a contact they would like to share with the group). At least with Trans, I can know what their requirements are by email and get them handled. And in the last couple of years they have made that easier. Most amendments can be handled upon delivery.

But the long gruesome app breeds mistakes. I have my agents send me the apps so I can scrub first.

SNLs modified is nice, probably the best “Near-GI” on the market, but there are still dozens of ailments that get pushed ROP that you could get preferred or standard somewhere else.

 

[rousemark]

How does Trans and SNL compare in commissions? Especially renewals as SNL seems a bit low. SNL does not policy fee, Does Tran? You also take a haircut with the older ages with Trans..

 

[goillini52]

Trans is def difficult for the new agent. An eapp with or without POS approval could make them a go to company for any agent. But I agree their home office staff is ridiculous to work with. You call in 3x and will get 3 different answers. If they make the mistake, like send you the wrong app, that’s on you lol.

I believe they pay the same 0-85, but I’ve only written a handful of the younger ages since they changed the apps a few years back. But having one company that does 0-85 is great. And not cutting comp at 75 or even 80 makes them a go to for those ages. SNL cuts your comp at the older ages.

You have to read their UW Guide to properly UW Trans though. (I’ve attached it)

I’d be careful with Hep C. Their guide says that it must be resolved, untreated and not active for 12/24 months.

Also, they will take blood thinners/isosorbide standard AND preferred as long as the dosage hasn’t changed and they were prescribed the meds longer than 12/24 months respectively.

The same with Nitro, except the client can’t have taken the Med in the last 12/24 months AT ALL. So they must have been prescribed over 12/24 months but not actually taken. If taken, then they would have to answer Yes to the Angina question.

They do Direct Express the right way. I’ve heard SNL is making changes, but their billing had been “off” in the last year.

Their app is much shorter, but they’ll still require amendments and signatures just like trans.

And unlike Trans, you can’t really talk to New Business by email (unless someone has a contact they would like to share with the group). At least with Trans, I can know what their requirements are by email and get them handled. And in the last couple of years they have made that easier. Most amendments can be handled upon delivery.

But the long gruesome app breeds mistakes. I have my agents send me the apps so I can scrub first.

SNLs modified is nice, probably the best “Near-GI” on the market, but there are still dozens of ailments that get pushed ROP that you could get preferred or standard somewhere else.

"SNLs modified is nice, probably the best “Near-GI” on the market"

What are you basing that statement on. As far as ease of issue(fewer disqualifiers), I believe Settlers Bronze would be better.