Final expense/GA contracts, is this routine?

[mswebb06]

The other day as I was in Lowe's I ran into an old friend of mine and we had some casual conversation about both of our careers.

Well I come to find out that my old friend has just started an insurance career (final expense mainly). He has contracts with four wel known companies. one of them particuarly has given him a "G.A" contract right from the start.

I thought GA contracts were awarded after proving that one has what it takes to prosper in this business. Are companies just throwing out GA contracts left and right in order reward agents for coming aboard with them?

 

[HoosierDaddy]

What company? Some new guys don't really understand things. I have talked to some guys that tell me they have GA contracts with companies that are 15 points less then my contract.

My guess some fast talking marketer said... "Hey John Doe, I can give you a GA contract at 100%, and you can recruit guys under you at 90%, 80% ect.

"GA Contract" can mean a lot of different things... Basically you can recruit below you...

P.S. I am still offering GA contracts with Royal Neighbors of America

 

[mswebb06]

Settler's Life, my RN contract is only 90%

 

[myinsurebiz]

I can get you 110% / 8% with both Shenandoah and ForeThought if needed . . .

Easily go to 120%.

Advances depend on credit / collateral.

Tom

 

[magagent]

collateral? I did not know that advances had anything to do with collateral, I know in somecases that some advances depend upon your credit. However I have never seen or heard of that being a factor in final expense.


Also, why should they go through you? What do you have to offer?

 

[myinsurebiz]

#1 - collateral? I did not know that advances had anything to do with collateral, I know in some cases that some advances depend upon your credit. However I have never seen or heard of that being a factor in final expense.

#2 - Also, why should they go through you? What do you have to offer?

I sent you the info magagent - you didn't like it?

1) Yep - collateral. Anybody with sub-par credit has to enter into a promissory note with a collateral addendum in order for me to stand good for their advances.

A GA would be a fool not too! No skin off my back if they don't want to - I'll survive and thrive either way . . .

2) Why do they go through anyone? If they can get a better contract - more power to them. If not - I have the solution.

Tom

 

[magagent]

myinsurebiz, sent you a pm

 

[Mattschmidt]

You can do a lot better than that. Speak to Todd king. He can get you squared away

 

[rousemark]

105% with a 75% advance is about the best a broker can get with out $75K - $150K proven production.

If you are an experienced broker who wants top 105% F.E. contracts please send me a message or visit my profile for my website..

I guess I will have to return my 125% , no production requirement contract. Apparently the company didn't know all they could give me was 105% since I am semi-retired and don't write a lot of business with them. I am really disappointed that I will have to settle for 105% in the future.

 

[jdeasy]

No you can keep your 125% with a carrier that will cost your clients 15% more on premium. Also anyone with half a brain knows that the top FE carriers are not handing out 125% contracts without production requirements.

My 105% is referring to the lowest premium carriers with the most lenient underwriting. I call them my top 5 carriers...

You are the type of guy everyone loves to HATE... Next time keep your comments to yourself unless you have a comment that might help a person on this forum. By the way if you have 1000 posts then you are not out writing business. Go write $250K then tell me about your 125% carriers

You simply do not know what you are talking about. Don't get prissy when everyone here knows the real story.

I don't know who you call the good companies, but an agent can get 120-130% with RNA, Foresters, Americo, Oxford, etc. without production requirements.

You are not offering anything of substance here with you constant shilling and pimping. I suppose it's good that you think you have a good eal when you don't.

Most education is expensive. You seem to be paying dearly for your's.