I was writing a fair amount of business with them. They cancelled my contract because I had too high of a loss ratio. Even though the product I was writing was a 'yes-no" app. Head of marketing would not, or could not, do anything about it. Definitely not an agent friendly company.
United American Insurance Company
- Thread starter rayluk
- Start date
I was writing a fair amount of business with them. They cancelled my contract because I had too high of a loss ratio. Even though the product I was writing was a 'yes-no" app. Head of marketing would not, or could not, do anything about it. Definitely not an agent friendly company.
Say that again, thats incredible. You not the one doing the underwriting.
I would put everyone on that case, my attorney, DOI, CMS.
Say that again, thats incredible. You not the one doing the underwriting.
I would put everyone on that case, my attorney, DOI, CMS.
On what basis? The contract states that either party can terminate at anytime with 30 days notice.. No reason has to be given... No justification need be offered.
- 8,448
Just chiming in to say "thanks!" to everyone who contributed useful information to this thread.
As I've learned to do before contracting with a company, consider selling a product, etc.. I always check insurance-forums.net to read what our valued member have to say.
The UAIC recruiter is hitting our agency hard right now to get as many agents as he can.
Their "Reserve Fund Annuity" sounds like a good plan to pair with their dirt-cheap High-Deduct Plan-F, due to lack of withdrawal charges, but the 0% commission gives me pause. Also, the 12% lifetime commission on Med-Supps is what I'm paid now by Mutual of Omaha.
The in-house UAIC lead program is a positive, however. I can buy lots of senior names/address, but mailing costs are through the roof now.
I'll decide what to do in the next 24 hours or so.. That 12% commission is the main sticking point that I'll try to negotiate upward. Once you submit the contract, it's probably set in stone for life. Thanks again all.
-Allen in Chicago
As I've learned to do before contracting with a company, consider selling a product, etc.. I always check insurance-forums.net to read what our valued member have to say.
The UAIC recruiter is hitting our agency hard right now to get as many agents as he can.
Their "Reserve Fund Annuity" sounds like a good plan to pair with their dirt-cheap High-Deduct Plan-F, due to lack of withdrawal charges, but the 0% commission gives me pause. Also, the 12% lifetime commission on Med-Supps is what I'm paid now by Mutual of Omaha.
The in-house UAIC lead program is a positive, however. I can buy lots of senior names/address, but mailing costs are through the roof now.
I'll decide what to do in the next 24 hours or so.. That 12% commission is the main sticking point that I'll try to negotiate upward. Once you submit the contract, it's probably set in stone for life. Thanks again all.
-Allen in Chicago
- 15,319
The annuity is just a gimmick. But unless 12% is specific to Illinois it's very low. I have a 16% contract.
Shoot me a PM and I'll let you know where you can get it (and it's not through me).
Rick
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