Arthur Rudnick
Guru
- 1,652
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I could not find any old threads.......so does anyone have any idea what i am up against besides respecting a fellow knight and A++ ratings?
I'll assume decent rates, limited choices, and a captive audience.
Thanks
Don't bother trying to replace KofC. In virtually all circumstances, you will be doing something unethical. You could earn points with a client by being honest about not being able to compete with KofC. KC is non-profit and agents work long hours and deal in high volume. The commissions are very modest and there is no fat anywhere in the organization. The choices are not limited and the plans are highly customizable. The agents do the job out of a deep sense of duty to the order, despite obviously being able to earn more elsewhere. The top ethics rankings are prizes above all else. Education is constant and the clients have usually been educated on the ins and outs of contracts and become difficult to trick by outside companies.
Don't bother trying to replace KofC. In virtually all circumstances, you will be doing something unethical. You could earn points with a client by being honest about not being able to compete with KofC. KC is non-profit and agents work long hours and deal in high volume. The commissions are very modest and there is no fat anywhere in the organization. The choices are not limited and the plans are highly customizable. The agents do the job out of a deep sense of duty to the order, despite obviously being able to earn more elsewhere. The top ethics rankings are prizes above all else. Education is constant and the clients have usually been educated on the ins and outs of contracts and become difficult to trick by outside companies.
Don't bother trying to replace KofC.
In virtually all circumstances, you will be doing something unethical.
You could earn points with a client by being honest about not being able to compete with KofC.
KC is non-profit and agents work long hours and deal in high volume. The commissions are very modest and there is no fat anywhere in the organization.
The choices are not limited and the plans are highly customizable.
The agents do the job out of a deep sense of duty to the order, despite obviously being able to earn more elsewhere. The top ethics rankings are prizes above all else.
Education is constant and the clients have usually been educated on the ins and outs of contracts and become difficult to trick by outside companies.
Fraternals are also not covered by many E&O policies. And are never covered by State Guarantee Associations. The SGA issue can often win the competition over a fraternal in most situations... especially since the coverage with a Fraternal is no better than a traditional carrier. In short, you are exposing your client to increased risk, possibly yourself as well depending on your E&O.
What you stated you do in regard to SGA is strictly illegal. It also indicates that you have a lack of understanding.
I now see what I fallen into here and will exit as quickly as I arrived. Sorry I can't help here.
None of this conversation really matters. Consumers make long term care insurance buying decisions based upon 3 possible factors: price, financial ratings of the insurance company, relationship to the agent.
Knights of Columbus has excellent rates, superior financials, and a trusted relationship.
It will win the business today when it is involved.