Best Place to Start In Senior Market ?

[VolAgent]

I'd look for someone who gives above street level contracts, is a producing agent in the Med Supp market and who has been selling Med Supps for over seventeen years.

You wouldn't happen to know anyone like that, would you?

 

[Todd King]

I'd look for someone who gives above street level contracts, is a producing agent in the Med Supp market and who has been selling Med Supps for over seventeen years.

Frank, I don't know if you realize it or not, but you just described yourself!! You humble person, you!
But then, after you found someone like Frank for the Med Supps, you need to look for the same type person that help you with the other products that many seniors need, like FE and maybe LTC and Annuities too.

 

[Frank Stastny]

Frank, I don't know if you realize it or not, but you just described yourself!! You humble person, you!
But then, after you found someone like Frank for the Med Supps, you need to look for the same type person that help you with the other products that many seniors need, like FE and maybe LTC and Annuities too.

It's so hard to be humble when you're... That would be a great Country Western song.

 

[arnguy]

You forgot to mention that the person must be a goat lover----not a lover of goat porn!

 

[Josh]

Also, I have been originating Reverse Mortgages for the past 5 years if anyone has questions about that. There are many misconceptions that surround these animals.

Any reason you're getting out of the RM business? Have you been doing them mainly in Rhode Island, or in different states?

 

[FEX Quotes]

So your looking to start in the senior market? Presumably to meet some cougars??

 

[Josh]

So your looking to start in the senior market? Presumably to meet some cougars??

Best post of the day!

 

[Watchman]

Any reason you're getting out of the RM business? Have you been doing them mainly in Rhode Island, or in different states?

I am continuing to originate Reverse Mortgages but I do want to add some senior insurance products. The RM is so very powerful for the client. For the guy originating them it is a bunch of work with alot of emotions and then it is over. A One Trick Pony. Kinda like being pregnant, giving birth, getting pregnant again only with a new father each time.
- - - - - - - - - - - - - - - - - -

So your looking to start in the senior market? Presumably to meet some cougars??

I'm boring to most people. I only drink from my own cistern. Sorry Frank...no naked goats either.
- - - - - - - - - - - - - - - - - -

Have you been doing them mainly in Rhode Island, or in different states?

I originate the RM in the state of Oklahoma.
- - - - - - - - - - - - - - - - - -

When I contracted my MOO with them many years ago I just picked them at random. But they have treated me good through the years and there are some good people there. They are strong on Medicare and LTC. Pretty helpful with annuities. Not as strong with FE.

Since I am fairly new to Medicare Supplement, I wonder if they (SMS) might be a good choice for me even though they pay a few points less as somebody else posted. My other question is will they release my MoO contract later if I decide to go elsewhere? Will they give me a signed release up front when I contract? What is the commision schedule that I should expect from them?

As a side note, I was recruited by Physicians Mutual last summer. I spent some time with them and went to about 10-15 sales meetings. They made a great big deal over the fact that they sell a "issue age" policy instead of an "attained age" contract. They kept telling me that although the premium was higher than MoO and others, in 5 years there would be a cross-over point where PM would be cheaper and continue to be so the rest of the insureds life.
Has anybody had experience with that particular situation? It sounds like what we used to call a "Trust Me" annuity back in a day.

Please comment.

 

[Newby]

Issue age pricing is pretty much horse patootee. You are paying too much today in hopes you will pay less tomorrow. In reality you will be with a different company tomorrow.

 

[G.Gordon]

My experience is that few FMOs will release a MOO contract. It usually takes a "time" without production to force the release. Six months to a year is the norm. We got my wife's released from Premier when we formed the LLC. Most production was in my agent number. We sent them a letter from MOO saying that they couldn't join my wife's agent number to the LLC since it was from a different FMO than mine. Mine was with SMS out of Columbia, MO.

Premier was more than willing to help us out with a release. If we just asked out of the blue I doubt it would have been as easy. Having a "reason" such as forming a LLC helped I'm sure.

My contract was transfered to Senior Marketing Spec. after moving from AR to MO... I had not produced for a few years for MOO at that time so it was a none issue.

Releases are not a given. Choose wisely.
- - - - - - - - - - - - - - - - - -

Issue age pricing is pretty much horse patootee. You are paying too much today in hopes you will pay less tomorrow. In reality you will be with a different company tomorrow.

What?

Not really. I have issue age states that do very well maintainy stable rates. I have a client on a community rated policy that might move this month... his first medsupp was issued in '05. I do like my attained age states like Kansas. I call that my RONCO business... set it.. and... forget it. Seriously. I've only move TWO of my Kansas clients due to price.

On the other hand... I'm just now moving clients from a great company that I placed them with some four to five years ago. In MO with our F'd up GI law that is unheard of. Getting to leave someone alone for a couple of years is a blessing.

Good night. I have to get up at 2:45 for a 6:30 flight to Vancouver.