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Looks like a few beat me to the punch on answering this and I agree with them.
When I went to Equita (EFES) almost a year ago I kept every single carrier I had and all my comps were matched or increased in some cases so there was no "push" in my experience.
Sure, because of longstanding personal relationships and mutual friendships Royal Neighbors and Americo are probably talked about more frequently, but the term "push" would definitely be "pushing it" in my opinion...no pun intended.
As I mentioned, I'm leading with Americo>>>>>Royal Neighbors>>>>>Transamerica because they'll catch most health conditions I run into and I don't have to worry about my business being spread too thin (they also offer enhanced value benefits like double indemnity for accidental or health discounts or terminal illness riders etc.), which should be a major concern for new agents as well as part-time(ish) agents. I don't hear many conversations about the fact that if you put a piece of business with a random company two times per year to cover a less common health condition and it charges back then there's no business to help cover that chargeback. The agent will get a nice letter in the mail that will say something along the lines of pay this $1000 back in full in ten days or you'll be terminated.
In regards to Americo specifically a few things stand out that I believe should make them a strong consideration for any agent if they haven't yet taken a deeper look.
1. The Eagle-eapp is approved immediately. There is no paperwork to deal with, which means no faxing or worrying about possible mistakes to delay the policy being issued. My clients also love getting a policy number on the spot. You also don't have to wait 5-20plus days checking a pending website, crossing your fingers nothing pops up. I've written carriers that might have the "shortest phone interview in history", but if it's "referred to an underwriter" 30% of the time that doesn't help me at all.
2. The underwriting is probably one of the best in the business and it's much more advanced. Instead of straight knock-outs for everything they use an algorithm, which if you're trained thoroughly on will accept many different health conditions, which has been a pleasant surprise!
3. We can get Americo Eagle commission levels that are better than any other commission level I've seen in the industry. So when I can get a client this type of product which is competitively priced and get a crazy high commission deposited to my bank in 48 hours it's a win-win for everyone in my opinion.
When I went to Equita (EFES) almost a year ago I kept every single carrier I had and all my comps were matched or increased in some cases so there was no "push" in my experience.
Sure, because of longstanding personal relationships and mutual friendships Royal Neighbors and Americo are probably talked about more frequently, but the term "push" would definitely be "pushing it" in my opinion...no pun intended.
As I mentioned, I'm leading with Americo>>>>>Royal Neighbors>>>>>Transamerica because they'll catch most health conditions I run into and I don't have to worry about my business being spread too thin (they also offer enhanced value benefits like double indemnity for accidental or health discounts or terminal illness riders etc.), which should be a major concern for new agents as well as part-time(ish) agents. I don't hear many conversations about the fact that if you put a piece of business with a random company two times per year to cover a less common health condition and it charges back then there's no business to help cover that chargeback. The agent will get a nice letter in the mail that will say something along the lines of pay this $1000 back in full in ten days or you'll be terminated.
In regards to Americo specifically a few things stand out that I believe should make them a strong consideration for any agent if they haven't yet taken a deeper look.
1. The Eagle-eapp is approved immediately. There is no paperwork to deal with, which means no faxing or worrying about possible mistakes to delay the policy being issued. My clients also love getting a policy number on the spot. You also don't have to wait 5-20plus days checking a pending website, crossing your fingers nothing pops up. I've written carriers that might have the "shortest phone interview in history", but if it's "referred to an underwriter" 30% of the time that doesn't help me at all.
2. The underwriting is probably one of the best in the business and it's much more advanced. Instead of straight knock-outs for everything they use an algorithm, which if you're trained thoroughly on will accept many different health conditions, which has been a pleasant surprise!
3. We can get Americo Eagle commission levels that are better than any other commission level I've seen in the industry. So when I can get a client this type of product which is competitively priced and get a crazy high commission deposited to my bank in 48 hours it's a win-win for everyone in my opinion.
