Upcoming Product Changes at Settlers

[jdeasy]

Medically, Do they do anything trans/forester/americo doesn't?

They are completely different on underwriting than any company you will ever use.

Insulin is complete no go with them. The gold plan is priced well but the person has to be in FU condition to get gold so why not go ahead and use FU for them?

Newby talked me into getting settlers a little over 3 years ago. I was termed earlier this year for no production, at least that was the official reason. I was given another reason unofficially.

You will hear some talk about their single premium being good. I wrote the healthiest 78 year old you ever saw on their single premium a few years ago. This guy owns an asphalt company and a tree trimming company. He's local to me and he has a reputation of being the strongest, toughest man in the county. It's nothing to go by where they are working and he's out there working right along side his employees.

We didn't get an answer on the phone. Then they did a second phone interview with him. That wasn't good enough so they did an APS. This is supposed to be SI?? Then they declined him. Even if he had been approved I would have been paid 6.5% commission.

Turned around and put him elsewhere and he was approved immediately. He's over 80 now and I just saw him the other day shoveling blacktop out of a dumptruck.

I also know of a case where another agent wrote a single premium on a person. Approved on the call and everything handled. A few days later they changed the approval and declined the person.

Settlers offers nothing that other companies don't do better. Then you want to talk about customer service? Non existent. I had one case where the father was the owner on an 11 year old. The father died. The mother wanted to become the owner. We could not get that done. I even got a member of their advisory board involved and still could not get that change made. I had to finally just write the girl with another company so the mother could be the owner.

The last case I tried to place with them was a 32 year old that has seizures. Supposedly perfect for them according to their advisory board member.

This was right after Bontell was at our conference and said they would be giving a definite answer on the call going forward of approval or they would advise on the call that it should be withdrawn.

I did the painstakingly long interview, close to 30 minutes. No decision at the end nor was I advised to with withdraw. I waited about a week to check on it and they said they needed to do a second interview. That wasn't going to happen.

I contacted KSKJ and explained the situation and gave them his meds. They said it was probably a table 3. Still less expensive than settlers. I submitted it to KSKJ. It came back as a table 2 and without a phone interview needed.

That was a little over a year ago and I never attempted another write with them.

There's a reason you don't see fulltime FE agents using them as a go to.

 

[Baseball7]

Tough review there jd.....

 

[Newby]

Tough review there jd.....

Here is the flip side review.

Settlers is very different than Trans or Forrester's or all the same ol sompanies. That's what makes them a great secondary company. If they were the same as everyone else they wouldn't be useful.

Most of the good stuff was listed a few posts up so I won't repeat all that. But all good stuff.

Settlers is hard to beat under age 50 with an FE product. JD says KSKJ fully underwritten is better but that's not a fair comparison. Settlers is a POS approval (most of the time) pays 115% street plus has 10% lead credit (20% for FexContracting agents) so effectively up to 135% for any agent with advances. KSKJ WL pays 80% and agents do not get advances until they have written at least 6-months. Big difference for most agents. Plus Settlers will take things that are hard to place anywhere else in the under 50 age bracket.

Settlers pays full commission at all ages and goes down to very small policy amounts. So that 83 year old that wants to stay with an additional $40 per month policy doesn't have to be walked away from and pays you just as well as a $40 premium on a 60 year old.

Settlers is a small company. They get to know you (good or bad) quickly. If you go at them with nothing but your bad cases and/or bad attitude you will have a real bad experience with them. If you are an agent that likes them and writes even a few good cases with them each month you will be noticed quickly and get the gold star treatment.

They are not a first go to company for most independent agents. But they are excellent for a secondary company. And every year there are a handful of agents who hit the $150,000 plus production with them so there are definitely a few that write the majority of their cases with them.

It's been rumored that every time a Settlers case gets approved, JD gets stung by a bee. I don't know if that's true. There is no mention of that in the agent guide.

 

[jdeasy]

Tough review there jd.....

It is what it is. I guess you can get stuff placed there if you are on their advisory board? But other than that, it's a crap shoot.

The head guy there had the nerve to tell a room full full of agents that they didn't want the insulin users so it was fine for us to place them elsewhere. They didn't want the DE payers so we could just place them elsewhere too.

But take healthy clients with long term bank accounts and place them with settlers.

That's how far out of touch with reality they are. He basically said, don't reward the companies that help you with your tough cases.

The guy said he wanted to have a one on one conversation with me. I told him several times that he did not want to have that conversation with. he insisted that he did and wanted me to not hold any punches. He kept up until we had that conversation. I think he wishes he had listened to me about not having it.

----------

Here is the flip side review.

Settlers is very different than Trans or Forrester's or all the same ol sompanies. That's what makes them a great secondary company. If they were the same as everyone else they wouldn't be useful.

Most of the good stuff was listed a few posts up so I won't repeat all that. But all good stuff.

Settlers is hard to beat under age 50 with an FE product. JD says KSKJ fully underwritten is better but that's not a fair comparison. Settlers is a POS approval (most of the time) pays 115% street plus has 10% lead credit (20% for FexContracting agents) so effectively up to 135% for any agent with advances. KSKJ WL pays 80% and agents do not get advances until they have written at least 6-months. Big difference for most agents. Plus Settlers will take things that are hard to place anywhere else in the under 50 age bracket.

Settlers pays full commission at all ages and goes down to very small policy amounts. So that 83 year old that wants to stay with an additional $40 per month policy doesn't have to be walked away from and pays you just as well as a $40 premium on a 60 year old.

Settlers is a small company. They get to know you (good or bad) quickly. If you go at them with nothing but your bad cases and/or bad attitude you will have a real bad experience with them. If you are an agent that likes them and writes even a few good cases with them each month you will be noticed quickly and get the gold star treatment.

They are not a first go to company for most independent agents. But they are excellent for a secondary company. And every year there are a handful of agents who hit the $150,000 plus production with them so there are definitely a few that write the majority of their cases with them.

It's been rumored that every time a Settlers case gets approved, JD gets stung by a bee. I don't know if that's true. There is no mention of that in the agent guide.

You want to come with that mamby-pamby company man BS?

I don't say that KSKJ FU is better, I say that everyone is better. Trinity, Trans, RNA, SNL. Your company is not the only one writing under age 50.

They are the worst at it. Yeah, they pay more but I didn't know that's where this conversation was going. But just like assurity, I wonder how much the commission is on policies not issued?

It's also been rumored that everytime a settlers policy gets issued Scott gets a check. I don't know if that's true either but it's got as much basis in fact as his BS.

 

[Agentguy5]

If they open this product for Telephone Sales, it will be a good addition to those that are selling LBL, Foresters, and Americo's Eagle.

If!

 

[goillini52]

It's been rumored that every time a Settlers case gets approved, JD gets stung by a bee. I don't know if that's true. There is no mention of that in the agent guide.

Damn, that's funny! Hope you're not allergic to bee stings JD.

 

[jdeasy]

Damn, that's funny! Hope you're not allergic to bee stings JD.

Scott wants to make it personal when you talk about his company.

I got into writing settlers for business reasons. Scott sold me a bill of goods on the company and I bought it. I learned with my very first case that they were not what I had been told.

I also stopped writing them for business reasons.


For some reason Scott is personally attached to that company. And he will attack his own downline agents to defend that company. I don't mention settlers unless asked or the discussion is about settlers. I've never started a thread about settlers.

As for companies, I started warning people about 1 star 3 years ago. That was made personal as well. "Hypothetically" anyway. But since it was just me as the problem with 1 star I wonder why they didn't flourish in the 3 years I haven't had them?

 

[goillini52]

Scott wants to make it personal when you talk about his company.

I got into writing settlers for business reasons. Scott sold me a bill of goods on the company and I bought it. I learned with my very first case that they were not what I had been told.

I also stopped writing them for business reasons.


For some reason Scott is personally attached to that company. And he will attack his own downline agents to defend that company. I don't mention settlers unless asked or the discussion is about settlers. I've never started a thread about settlers.

As for companies, I started waring people about 1 star 3 years ago. That was made personal as well. "Hypothetically" anyway.

I haven't had any problems with them and the last EPOS I did was 12 minutes(probably because the guy doing the interview was a FAST talker...lol). Maybe if I used them more I might see the problems you've had.

I understand what you're talking about...that's why I've taken Oxford out of my bag. What a PITA company to deal with(especially Med Supps) in EVERY way!

 

[Newby]

Scott wants to make it personal when you talk about his company.

I got into writing settlers for business reasons. Scott sold me a bill of goods on the company and I bought it. I learned with my very first case that they were not what I had been told.

I also stopped writing them for business reasons.


For some reason Scott is personally attached to that company. And he will attack his own downline agents to defend that company. I don't mention settlers unless asked or the discussion is about settlers. I've never started a thread about settlers.

As for companies, I started warning people about 1 star 3 years ago. That was made personal as well. "Hypothetically" anyway. But since it was just me as the problem with 1 star I wonder why they didn't flourish in the 3 years I haven't had them?

JD you need to get a sense of humor. You have a personal vendetta against Settlers and Steve Bontel. Everyone knows that by now. They are what they are. Good at some things. Horrible at others. Every time an agent posts something good about them you blast about how horrible they have been for you. You think agents shouldn't write them at all just because have a personal war with them.

Lighten up. It's Sunday. If you feel the need to post something out of anger pause for a minute and ask yourself...What would President Trump do?

 

[Baseball7]

So in short some people like them as a secondary carrier, hard to use as a primary carrier and some people really have " hate in their heart" as Donald would say for them.