It would be interesting and helpful to have an in-depth discussion about the pros, cons and niches of each of the top FE companies. A lot of the prior threads on some companies are now obsolete due to changes they have made, some better, some worse. Let’s start with Oxford Life and work our way thru the others.
Current FE companies
- Thread starter jerryrut
- Start date
- 16,928
Oxford Pros
1. Fastest phone interview with instant decision of all companies
2. Rates are more competitive than most
3. Underwriting is good on most things. 2-year lookback on heart attacks strokes and cancer. Insulin diabetes gets prefered rates.
4. 5% lead credits with $3,000+ monthly production
5. Higher starting 1st year commission than most other companies
6. Does 2nd, 3rd, 4th Wed billing
7. Pays commission upon issue (fastest way)
Oxford cons
1. No commission if you write someone who has ever lapsed an Oxford policy in the past.
2. No replacements allowed in Kentucky, Kansas and W. Virginia
3. Renewals are lower than some competitors
4. No clear RX knockout list
5. No company conventions
6. Does not accept debit express cards
7. Does not tie premium draft dates to 1st or 3rd social security dates.
8. No Standard or Graded options. Only prefered or decline.
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- Thread starter
- #3
Excellent info!!!!!!!! So, you can’t choose a draft date on either the first or third???
- 16,928
You can. But it doesn’t synch up with SS deposit dates. So if the 1st or 3rd falls on a weekend it will draft late. Also Oxford allows 45 days to first draft when matching SS deposit dates. But they only allow this for Wednesday drafts.
- Thread starter
- #5
That don’t make sense, wouldn’t that be an easy fix for a programmer???
- Thread starter
- #6
Does anybody do much direct express business?
- 5,811
To me Transamerica sorta has the corner store on this. Are there any that might disagree with me?
- Thread starter
- #9
Actually, l meant to ask, as agents, do you do much of that business
- 4,059
I don’t do much. I’d rather add those folks to my debit collections. I don’t have as many persistency problems with that business if I get it from them directly, either in cash or running the card myself. But if somebody really wants a DE draft, LBL will allow it on a home service contract.
