Transamerica Issues

[theinsuranceman]

If you ask me, it seems be acting like a carrier in distress. Not exactly sure what the distress is, but I am concerned to even write business their direction.

I am officially pulling 2 apps that I have given them and will rewrite else where. I have 2 apps in house that I have not even sent in and am concerned to even do it.

It is taking too long to get business through... too many additional requirements...



Hmm... I wonder if your not on to something there.

I also was informed that there are rumors afoot the upper management in some departments is sub par. Can anyone confirm the out sourced new business?

Sounds kinda like they may be the next FE carrier to leave the industry to me. The FE carriers that make life tough for their agents (agents bring the money in) will find themselves losing agents. Carriers without agents are no longer carriers. They become insolvent. Or bought by another carrier.

 

[rousemark]

I like TA. I've used them for a few years and found if I don't send them bad apps. they are usually good to go.

Almost everyone is good to go when everything is right. The measure of a company is how are they when something is wrong or out of the ordinary..

 

[Baseball7]

I’m pretty sure there going back to a single 0-85 app, so I expect it to be stricter.

 

[rousemark]

I only have three on my pending report. But these are average for me. I am not an FE guy so my time expectations are different than yours. They require new signatures on everything. However, in my case, the problems were operator error.

Submitted = 04/16/2019 Face $30k Status = Approved 04/29/2019 Problems = Nic patch questions and She 'forgot she takes insulin. I left the last letter of her first name off the top of the Supplemental form.

Submitted = 04/23/2019 Face = $40,000 Placed / Inforce NBJet 04/26/2019 Comp in the bank

Submitted = 04/24/2019 Face $20,000 Approved, Mailed = 04/29/2019 Problems = I did not fill in the owner info on the DMF form. Hate that fn form. and the sup bene form

These things have as many forms as some Fully Underwritten. I recently had a larger FU case with them fly thru.

They are stil operating with a debit mentality, acting as if you have nowhere else to go with your business.

 

[WinoBlues]

acting as if you have nowhere else to go with your business.

They would be in error.

 

[rousemark]

They would be in error.

You know that; I know that and they probably know that but those old boys that are used to doing whatever they want and treating agents like serfs have a hard time changing. Kind of like SB coming to Settlers. He was with Foremost and they pulled out of the FE business so when came to Settlers he wanted to do things the way they did at Foremost. Don't if that was the reason but in the end he had the same result. Wonder where he landed this time?

 

[goillini52]

You know that; I know that and they probably know that but those old boys that are used to doing whatever they want and treating agents like serfs have a hard time changing. Kind of like SB coming to Settlers. He was with Foremost and they pulled out of the FE business so when came to Settlers he wanted to do things the way they did at Foremost. Don't if that was the reason but in the end he had the same result. Wonder where he landed this time?

Somebody posted recently that he's with a FMO now?

Posted by Todd 3/7/2019

"Also, Leads2Success is owned by TAG. Guess who else is with TAG? Steve Bontell. Yep, that's right! Now, knowing this....I certainly wouldn't use them again!"

 

[Life Hawk]

Sounds kinda like they may be the next FE carrier to leave the industry to me. The FE carriers that make life tough for their agents (agents bring the money in) will find themselves losing agents. Carriers without agents are no longer carriers. They become insolvent. Or bought by another carrier.

And this is why I am a Capitalist... what other value really is there to a company for an agent other than to make money... too many carriers out there, why would you want to fight to get paperwork through for one. 80/20 rule

 

[rousemark]

That would be the old Monumental Company.

Actually it was Occidental. later changed to TransAmerica and existed for many years before acquiring Monumental.The worst thing I can say about Trans is they are owned by a Dutch Company called Aegon.. hey bought Life Investors out of Iowa, merged them with Bankers United and ruined both companies which they later merged into Trans.

 

[goillini52]

Actually it was Occidental. later changed to TransAmerica and existed for many years before acquiring Monumental.The worst thing I can say about Trans is they are owned by a Dutch Company called Aegon.. hey bought Life Investors out of Iowa, merged them with Bankers United and ruined both companies which they later merged into Trans.

Hey, if you had to wear wooden shoes, you'd probably mess up too. I'll bet they get splinters in their feet.