West Coast Life Going Bye Bye

[STIBROKER]

Yes, WCL was founded in 1906, and became a subsidiary of Protective Life Insurance Company in 1997. By the end of this year WCL will no longer exist. Everyone will have to relicense under Protective.

and what if you are already licensed with Protective..........

 

[Brokers Alliance]

According to the home office: Yes, you'll have to relicense with Protective.

 

[WinoBlues]

According to the home office: Yes, you'll have to relicense with Protective.

Can you duel contract with Protective?

 

[Brokers Alliance]

Yes duel licensing with Protective. although I noticed that some IMO distributors have limited recruiting restrictions that do not allow it.

 

[somarco]

I suppose the next to go is Executive Life.

 

[coachd]

WCL was not as competitive as it once was. This might be a good move.

 

[LGilmore]

they were essentially the same company. Rates were the same, underwriting and so on... just a move to reduce the duplicate segments of the company to be more profitable.

 

[Robert Barney]

they were essentially the same company. Rates were the same, underwriting and so on... just a move to reduce the duplicate segments of the company to be more profitable.

Quite correct. Why run two operations when essentially they are parts of the same whole.

Protective owns West Coast and they are just melting it into the parent.

Best's Credit Rating Center - Company Information for West Coast Life Insurance Company

I often wonder why Genworth has two companies, when they are both selling identical products.

 

[Norwayguy]

they were essentially the same company. Rates were the same, underwriting and so on... just a move to reduce the duplicate segments of the company to be more profitable.

Very true they have been essentially the same except in 1 minor difference...West Coast was a Brokerage outfit and Protective really wanted the PPGA channel. Since Protective seems to be getting rid of the PPGA channel then there is no reason to have both names.

 

[DLierMN]

Protective is essentially eliminating the PPGA channel and moving to a brokerage model. Only those PPGA's that meet minimum production requirements will remain on that model and that number will increase over the next few years eliminating even more.