Vantis Life Contract Offer...

[TDFnCali]

4Real, to answer your question, there is Gerber, Vantis, Kemper, and Mutual. Since you can't sell Mutual, that leaves 3 choices. If EFES does not have any of those products, then pick up the contract elsewhere.

I'm like JD, I don't like Vantis' chargeback policy. I think Gerber is the better one to pick up.

Isnt Gerber's GI chargeback similar to Vantis, Todd?

 

[rousemark]

Hey Guys I appreciate the feedback! You answer most of my questions before I even know I should be asking them.

Thanks

Madames Todd and JD keep a crystal ball in the trunk just in case the insurance business gets slow... I hear they are also good at palm reading, phrenology and Tarot cards..

 

[HoosierLife]

Isnt Gerber's GI chargeback similar to Vantis, Todd?

I don't think they do the full chargeback in case of death or lapse in the first year. Can't remember which one though lol. Vantis does 100% chargeback in either case. And 50% in year 2.

 

[Todd King]

Isnt Gerber's GI chargeback similar to Vantis, Todd?

Gerber doesn't chargeback if the policy lapses, according to the contract ( or lack of wording in the contract). The only time a chargeback occurs is for death, which is 100% the 1st year and 50% the 2nd year.

The only thing in the contract on chargebacks is this:

B. Compensation will only be paid on collected premium.

C. With respect to the Guaranteed Life the following special rules shall apply:

1. If the insured dies within the first policy year, 100% of the compensation paid shall be returned to Company.

2. If the insured dies within the second policy year, 50% of the compensation paid shall be returned to Company.

3. Policy year is defined as the 12 months following the date that a policy becomes effective.

 

[TeaJay33]

so whats the street level contract for vantis? so far i see kemper is 55% and gerber is 60%. whats vantis coming in at?

 

[PittAgent]

so whats the street level contract for vantis? so far i see kemper is 55% and gerber is 60%. whats vantis coming in at?

I was offered 40%. I'm debating whether its worth it for the huge risk you take as an agent to write them. I'm leaning toward not worth it.

 

[TeaJay33]

lol wow, 40%. now i see why i don't use them.

 

[Norwayguy]

lol wow, 40%. now i see why i don't use them.

It's not the 40% as earned its the risk of the client ridings in the first 2 years and all the commission charged back that you already spent. Otherwise it should be 40% on business you otherwise wouldn't get.

 

[TDFnCali]

Where did you get contracted with those guys?

Brad 360, others have SNL....but not many Ive found have GPM.

If you have both, you will cut down the times you have to use Vantis by at least 50%, probably more. Unless you run into a lot of smokers in your neck of the woods.

 

[Eldo]

Brad 360, others have SNL....but not many Ive found have GPM.

If you have both, you will cut down the times you have to use Vantis by at least 50%, probably more. Unless you run into a lot of smokers in your neck of the woods.

Senior Market Sales in Omaha has GPM contracts.... I just signed up last week.