Newly Licensed for Life and Health Insurance.
- Thread starter gavros777
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- health insurance
Welcome to the Biz.
You will need to be more specific. Look in terms of the market you want o sell to: Gen Y, Gen X, Baby Boomers, Seniors, Business Owners.
Many different products for each of these markets. Term, GUL, IUL, WL, Par-WL.
Not every company is good in each area. Once you get an Idea on your market, then look to different companies that excel in that market.
You will need to be more specific. Look in terms of the market you want o sell to: Gen Y, Gen X, Baby Boomers, Seniors, Business Owners.
Many different products for each of these markets. Term, GUL, IUL, WL, Par-WL.
Not every company is good in each area. Once you get an Idea on your market, then look to different companies that excel in that market.
- Thread starter
- #3
For starters i plan on selling Term and as i get more comfortable will add more.
What companies you recommend for term?
- 4,686
I'm surprised you haven't been scooped up by Primerica (overpriced term and they will charge you to sell their product and also pay you low commissions).
If you want to see a good assortment of competitive term companies, go to:
Term4Sale - Instant Term Life Insurance Comparisons
If you want to see a good assortment of competitive term companies, go to:
Term4Sale - Instant Term Life Insurance Comparisons
We offer the same companies as most Fully underwritten IMO's do.
My personal recommendations are:
- Transamerica (Great rates for Smokers and Non-Smkr Standard and preferred plans)
- ANICO (American National)
- Protective Life
- Genworth
- North American
- Banner Life
- American General
All of these are consistently in top 8 for rates in Non Smoker Preferred and Standard Plans and are also on our Champions Program.
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- Thread starter
- #6
cryzy8
Expert
There is probably a thread on this (that I couldn't find) but......
Twilight and PCB -
What are the differences between MGA's, IMO's, etc...????
I like to compare it to a military ranking..... Major vs. Master Sargent....
IMO vs MGA..... The MGA works for a living..... LOL.
IMO and MGA is just levels of contracting/commission. Most IMO's have MGA level contracts with a couple of carriers with the top deal. IMO's are more of a marketer/recruiter without concentrating on personal production.
MGA's like us/Legacy are actively selling and testing the markets we are in to measure success of direct mail or other programs for the producer so that we can better assist and train agents to be successful in the real world.
Many IMO's sell a pipe dream and have no clue as to how to sell a product and will do anything just to get you under contract and could care less if you are successful...That is a poor formula for an agent's success. An agent can be much more successful working with an MGA that is sales focused and knows this business inside and out. That agent will learn and never be dependent on an IMO that just doles out pieces of paper with nothing behind it.
IMHO - Skipper.
- 26,044
Size of their egos and the amount of work they do not do.
cryzy8
Expert
Interesting... So the MGO's offer more support with a smaller commission while the IMO offers more autonomy with higher commission???
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