- 2,055
Just read this in a FB group. An official announcement is coming soon.
Transamerica Discontinuing Med Supp Sales on 9/1/2020
- Thread starter Northeast Agent
- Start date
- 4,136
I can confirm that it is true. We're so going to miss them....NOT!!!
For real, they just sent me a letter saying they ceasing my contract due to inactivity. I was disappointed.
- 6,453
This means you have to find a new carrier for the hot summer sales season?
- 6,453
The KS medicare supplement listings list two Transamerica supplement companies.
Transamerica Life Insurance Company
Transamerica Premier Life Insurance Company
Which one is the one ceasing sales?
- 586
They are so disconnected from their sales force. How they handle life insurance, didn't give me high hopes for the senior market. Sure enough, they entered miserably. Instead of listening to their sales force, they hired a marketing company and paid obscene amounts of money to teach them how to be profitable in the med supp market. That was their answer to failing, Ignore the big dumb idiots selling med supps for a living, what do they know. Should be some decent replacement business in 2-3 years when the policies are up $100 a month from what they're at now.
- Thread starter
- #8
- 2,055
This just in from a FMO newsletter I subscribe to:
Transamerica Premier has made the decision to streamline their focus and product portfolio by closing new sales of their Medicare Supplement Insurance business. Effective September 28, 2020 Transamerica Premier will stop all new sales for this line of business. This includes all new sales for Agent Sold Medicare Supplement Insurance Plans A, B, C, D, F, and N. Existing policies will not be impacted and will continue to be supported.
Dates of Transition
Transamerica Premier has made the decision to streamline their focus and product portfolio by closing new sales of their Medicare Supplement Insurance business. Effective September 28, 2020 Transamerica Premier will stop all new sales for this line of business. This includes all new sales for Agent Sold Medicare Supplement Insurance Plans A, B, C, D, F, and N. Existing policies will not be impacted and will continue to be supported.
Dates of Transition
- September 25th, 2020 will be the last day to submit applications on the iGo e-App
- All applications must be signed on or before September 25th, 2020 and received by Transamerica Premier before 4pm EST no later than October 2, 2020.
- 4,136
