Your Top 5 Companies

[BibH]

Jd i'm just trying to understand what a fraternal can legally do as i got a big fat contract with foresters and i'm thinking of selling some. I listed about what Foresters says they can do. They say they can reduce benefits. If its only putting alone against the cash value no big deal as the death benefit and premium stay the same. My real question is when you sell kskj do you tell the client about the rare possibility of any assessment and what it means? With the type of clientele we deal with that could cause some problems.

 

[goillini52]

Jd i'm just trying to understand what a fraternal can legally do as i got a big fat contract with foresters and i'm thinking of selling some. I listed about what Foresters says they can do. They say they can reduce benefits. If its only putting alone against the cash value no big deal as the death benefit and premium stay the same. My real question is when you sell kskj do you tell the client about the rare possibility of any assessment and what it means? With the type of clientele we deal with that could cause some problems.

You should tell them about it. Not only because they have a right to know, but to lessen the chance that the next agent can use it against you...especially if they can point out that you tried to hide that from them.

 

[digfesales105]

Going back to the original question on this Thread.....

My #1 company would be Daviso Insurance Group.

In fact...they would be also my #2 through 5.

Just my opinion.

(I couldn't resist)

 

[jdeasy]

Jd i'm just trying to understand what a fraternal can legally do as i got a big fat contract with foresters and i'm thinking of selling some. I listed about what Foresters says they can do. They say they can reduce benefits. If its only putting alone against the cash value no big deal as the death benefit and premium stay the same. My real question is when you sell kskj do you tell the client about the rare possibility of any assessment and what it means? With the type of clientele we deal with that could cause some problems.

It's been almost 4 year since I wrote a Foresters. I'm not versed on what they can or can't do.

I know KSKJ and RNA guarantee the premiums and death benefit. They can assess the member for a financial shortfall. If the member doesn't pay then can put the assessment against their cash value.

But no, I am not going to talk about the possibility of the company failing at POS. Not with fraternals or non fraternals. If I were still writing Shenadoah I would tell people they just came out of receivership.

When I wrote Settlers I did not people that Settlers had failed in the past.

I cannot legally talk to anyone about the state guaranty fund here. The Ky statute says you cannot use the guaranty fund to sell for or against a company.

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Has it ever? Will it ever? I'm still going to show it to prospects and let them decide if they want that or something that can't change.

I agree. It's not my job to tell them AARP/NYL hasn't ever done that. That their job to tell them.

 

[ExProgrammer]

It's been almost 4 year since I wrote a Foresters. I'm not versed on what they can or can't do.

I know KSKJ and RNA guarantee the premiums and death benefit. They can assess the member for a financial shortfall. If the member doesn't pay then can put the assessment against their cash value.

But no, I am not going to talk about the possibility of the company failing at POS. Not with fraternals or non fraternals. If I were still writing Shenadoah I would tell people they just came out of receivership.

When I wrote Settlers I did not people that Settlers had failed in the past.

I cannot legally talk to anyone about the state guaranty fund here. The Ky statute says you cannot use the guaranty fund to sell for or against a company.

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I agree. It's not my job to tell them AARP/NYL hasn't ever done that. That their job to tell them.

So for your KSKJ (or RNA) clients, you just mention that the company is a fraternal, meaning the certificate holders are members who own the company and leave it at that unless they have questions?