No more Assurity FE
- Thread starter Todd King
- Start date
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Ouch
Interesting. I spoke with a regional wholesaler about a month ago and he said that the final expense product was the most popular perm insurance they sold. I asked him to point me in the direction of an FMO that sold a lot of lifescape and he said that none did.
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Well that's not nice.
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Waiting on greg the senior life guy and Northstar to ride in this thread like Paul Revere calling out "the captives are coming, the captives are coming!"
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The trend is definitely with the companies that had the most difficult underwriting processes are the ones pulling out.
Settlers and Assurity had one big thing in common. It was almost impossible to get Agents to write business with them unless it was a case that could not go anywhere else. So those companies Got very low volume of business and it was filled with cases that no other company wanted. They just made theirselves unattractive to agents with frustrating and unpredictable underwriting.
On the other end of the spectrum companies that are very agent friendly with their processes and underwriting as well as rates and commissions seem to be thriving.
Just in the last month Oxford has increased commissions (With their easy to achieve 5% lead credit) and sentinel security has increased the commission on their preferred product which is very competitive although they did reduce commission on there graded product. But the graded still pays 100% so still at the top of the class with graded plans.
Companies that make themselves easy to work with, and are in the ballpark with premiums are getting the huge majority of cases.
Assurity clearly did not want to be in the FE business.
Settlers and Assurity had one big thing in common. It was almost impossible to get Agents to write business with them unless it was a case that could not go anywhere else. So those companies Got very low volume of business and it was filled with cases that no other company wanted. They just made theirselves unattractive to agents with frustrating and unpredictable underwriting.
On the other end of the spectrum companies that are very agent friendly with their processes and underwriting as well as rates and commissions seem to be thriving.
Just in the last month Oxford has increased commissions (With their easy to achieve 5% lead credit) and sentinel security has increased the commission on their preferred product which is very competitive although they did reduce commission on there graded product. But the graded still pays 100% so still at the top of the class with graded plans.
Companies that make themselves easy to work with, and are in the ballpark with premiums are getting the huge majority of cases.
Assurity clearly did not want to be in the FE business.
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Who is next on the chopping block?
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we were just discussing that same topic
favorite is probably one of the GI companies because they always are on the list
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