Shenandoah Life Sales Suspended

[jdeasy]

If Shenandoah Life did come back, would any of you go back with them?

Maybe? I liked them. But, it's not gonna happen. Stick a fork in them. They will come back as another company's property.

 

[+zeek13]

I would not be surprised if ForeThought was a buyer for Shenandoah. They each have products that the other was headed toward. ForeThought would like to have the additional life products and med sups. Shenandoah was just begining to get into funeral Preneed insurance when they hit the wall.

Forethought will not buy Shen life . Call your State Guarantee Association Adminstrator. Shen life has thousands of policyholders that have requested surrender and as soon as they would come out of receivorship people would cash in their annuities. This company will eventually liquidate. Your guarantee Assn Admin will tell you the same.

 

[Hogfish]

I've been doing this for 6 years now;
bulk mail to their mailbox;
sent directly back to my mailbox;
I then drive to their door.
I learned from the best my Father (38 years in) who retired at 61.

I didn't sell Shenandoah but similarly seem to be spending some time HELPING! people from a Med Sup company that is now in REHAB. REHAB is not the "Hollywood; Glamorous, Cool" term when your talking about your clients life. They asked us to come to their house to solve a CRISIS, which was not this one. And this is not short of a CRISIS for certain people and US - the Agent!

Still it is our duty as puny little agents to evolve, survey the landscape, swallow commissions at certain times just to help the client and come back with explanations in order to regurgitate our pride.

I sell for a living and wouldn't have it any other way.

I finally have a fantastic contract with a solid company -26 billion in assets- and if you don't mind me making a couple points for my own leads then don't P.M. me just call me 305-733-0533

I can you at start at 105 and 5 polices 110 and 5 more 115% -

Sean (Hogfish)

 

[steveadlman]

Did Shenandoah's super cheap rates help cause their predicament?

They invested to heavily in mortgage backed securities.

 

[Hogfish]

It was a good company to and a shame they didn't get a bail out also.

I heard that Assurant bought their group business.

 

[Joe Moore]

This may be slightly premature, but Shenandoah is in the works of returning to work fairly soon. My understanding is the final expense product, New Vista will probably be the only roll-out product. It had the makings of a great product, when the shoe dropped.

Before anyone asks or comments, I had not abandoned the board. I have had some fairly serious health issues, which hopefully may come to an end (in a positive way) soon.

We have done some revisions of operations. Providing a "No Hassle Release", normal commissions with some pretty strong monthly, quarterly and yearly bonuses (by our calculations, we are talking approximately 40-50% of our overrides going to bonuses) for life insurance production with all our contracted companies, and a few other positive changes. We are not quite ready to put these changes on the street, until we feel we have the final drafts as close to perfect as we can have. If anyone would like to see our proposed changes, and be willing to give us CONSTRUCTIVE criticism, I would be glad to send the ideas.

Not all changes would be what some agents would like to see. We have been hammered with debit balances in the past year, and we have had to make some changes to try to prevent being smothered by someone else's debts.

Most agents are finding that we are small enough to work well with them, but large enough to attract most of the strong contracts, so we can offer good contracts.

 

[GreenSky]

Joe -

Glad that you're back with us.

Rick