Does Security National Have an Am Best Rating? I Can't Find One

[indiana260]

You know I never thought about it like that. These are little 5-15k policies with really no cash values to speak of thus if a company goes under the state will pay all claims if they can't find a company to take the policies over so the claim will be paid and that's all that matters.Now if you're young and have a whole life policy you better know the company you're with.

Does your E&O cover non rated companies?
Also, if you are ever asked if SNL is rated, the answer is no. However they are a publicly traded company so they could look up their stock and see how the analyst think of them

 

[Newby]

If you really want to focus on ratings, isn't the Comdex more important than AM Best anyway?

Just sell everyone Lafayette. 97 Comdex. A++ AM Best

Of course everyone would be graded. I think I just made JD's point.

 

[rousemark]

Does your E&O cover non rated companies?
Also, if you are ever asked if SNL is rated, the answer is no. However they are a publicly traded company so they could look up their stock and see how the analyst think of them

E&O will handle claims for business placed through non rated companies the same as they would rated companies with the exception of claims as a result of a company going bankrupt. I am sure it has happened but I have never heard of an agent being sued becasue of an FE company going belly up..Not much reason to do so.. The policies are small enough that they are fully covered under the state guaranty program and in most cases another company will assume the policies.

 

[TwiLight]

E&O will handle claims for business placed through non rated companies the same as they would rated companies with the exception of claims as a result of a company going bankrupt. I am sure it has happened but I have never heard of an agent being sued becasue of an FE company going belly up..Not much reason to do so.. The policies are small enough that they are fully covered under the state guaranty program and in most cases another company will assume the policies.

FE only company, no I have not..... Other lines.... Happens more often than you think.

LTC, Crop insurance, Work Comp...... to name a couple of lines that have hurt agents.

 

[newtothegames]

i need a good contract for SNL..who has one?thxs

 

[JimmyUt]

i need a good contract for SNL..who has one?thxs

Lots of folks. FEX, 360, etc......

 

[rousemark]

FE only company, no I have not..... Other lines.... Happens more often than you think.

LTC, Crop insurance, Work Comp...... to name a couple of lines that have hurt agents.

True.. In a "prefect" world an agent would not be liable for placing business with any company that the state insurance department says is qualified to do business within the state.. They are the ones by law charged with making sure companies are solvent.

 

[PA Bill]

Like JD said, No one asks or even cares about ratings. Most of your FE prospects don't know what ratings are, let alone understand them (classic low information voters). Senior Life couldn't be bothered with ratings either and they sell a ton of FE. If you like this Security National, sell 'em!

 

[bboman23]

i need a good contract for SNL..who has one?thxs

Shoot me an email. I can hook you up.
Bboman23@gmail.com