Transamerica

[HomeService]

Transamerica has a burial or final expense division with a manager recruiting here in my area. Well, he is willing to drive 150 miles to meet me. Recruiting scares me. I am always one to believe that if the products and agency system were that great, the agents would be beating down the door to get in.

Says they have a good lead program. { charges agent for it, of course. } Exclusive territory. { don't know how that works?}

In another thread I got one response about TA being high $$$ premiums. They are a good company as far as I know. Any comments? Anybody have experience working the final expense division of TA?

 

[Brad Howard]

They are solid. And the rumor mill has their term rates dropping huge to engage that market place in a BIG way. I can't say how that will affect FE contracts but it can't be BAD for them. Heck, meet with the fella, what have you got to loose. You've been looking for another direction Pat, maybe this will be something you can get excited about??

 

[HomeService]

Brad, you make some good points. As always. I figured they were solid enough, and I may just meet with him- just to figure it out for myself.

 

[DHK]

I am always one to believe that if the products and agency system were that great, the agents would be beating down the door to get in.

As you know, insurance is SOLD, not bought.

That INCLUDES agents as well. It takes someone to "sell us" on their product to get us to sell it to the end policy holder.

I don't know about you, but I've never "beat down the door" of any company to sell their products.

I look for good wholesaler relationships - those who are proactive to get me to use their product and give me great service.

But that could just be me.

 

[HomeService]

"I look for good wholesaler relationships - those who are proactive to get me to use their product and give me great service."

Agreed.... but too often I find "recruiters" instead of good providers of service. Or, providers of good service, or whatever you wish to call it. Seems like I find management that is lacking or products that are lacking. When they offer the whole package, bingo.

 

[somarco]

I can't say much about TA today, and I know nothing about the FE market. What I can tell you is TA was a major player in the jumbo term biz probably 20 years ago. The little I know about them seems they are searching for a market. They are in the worksite market and seem to have decent products.

They are a fine company based on my experience.

 

[Newby]

Transamerica has a burial or final expense division with a manager recruiting here in my area. Well, he is willing to drive 150 miles to meet me. Recruiting scares me. I am always one to believe that if the products and agency system were that great, the agents would be beating down the door to get in.

Says they have a good lead program. { charges agent for it, of course. } Exclusive territory. { don't know how that works?}

In another thread I got one response about TA being high $$$ premiums. They are a good company as far as I know. Any comments? Anybody have experience working the final expense division of TA?

I wouldn't think you want to go with ONE company for final expense no matter who it is. Talk to a brokerage that carries 3 or 4 final expense companies. They can help you get mailers going (at your expense) and you will be much more competative than with any one company.

You should be getting around 105-110% first year and at least 5-10% renewals or you don't even want to consider it.

 

[HomeService]

Thanks, Newby, yeah, I have more than one right now, I was just thinking of adding TA, as they are not captive. I am unclear of how the "territory" thing works, and they charge the leads on "back end", and I like to take "as earned" with no advances, so there's that as well.

I have been with a few different agencies that seem to be in the lead sales business, and the advance financing business. Not a fan of those two camps.

 

[GreenSky]

A few years ago I took a look at TA. They were paying about 130% commission with prices to match.

Rick

 

[HomeService]

greensky, I brought up price with this recruiting mgr, he tells me they are not as high as say Lincoln Heritage for instance, yet not the cheapest out there- either. I do not have a rate book, so I cannot tell you for sure.

It seems to me that price would be one sure factor in determining which final expense to go with. Also, having a highly rated carrier, and good service from an agent. The whole FE agency thing right now that is prevelant out there, { at least around here} running around chasing leads, I'm not sure that is for me.