World paying 15 months of 1st year

Crabcake Johnny

Guru
5000 Post Club
14,813
Maryland
Just to let you know, World is paying 15 months if 1st year commissions. They do advance 10 months but since most people here like as-earned here's some math:

10K a week X 20% premium.
$300/mo deal X 15 months = $4,500 X 20% = $900 which is $60 per month:

2 deals a week:

Month 1: $480
Month 2: $960
Month 3: $1,440
Month 4: $1,920
Month 5: $2,400
Month 6: $2,880
Month 7: $3,360
Month 8: $3,840
Month 9: $4,320
Month 10: $4,800
Month 11: $5,280
Month 12: $5,760
Month 13: $6,240
Month 14: $6,720
Month 15: $7,200

Competitiveness:

VA Zip 22301 HSA w/100% coinsurance

World - $5,450 ded = $456 standard/$421 preferred
GR - $5,640 ded = $418 standard/$392 preferred
Assurant - $5,750 ded = $408 standard/$363 preferred
 
World - $5,450 ded = $456 standard/$421 preferred
GR - $5,640 ded = $418 standard/$392 preferred
Assurant - $5,750 ded = $408 standard/$363 preferred

So they are 9% higher than Golden Rule, and 11% higher than Assurant (standard rates). and 7 and 15% higher for preferred.

I know nothing about the policy differences, but unless World has much easier underwriting, why would a professional agent use them?

By the way, we don't have World and the other two aren't even close to competitive in California, so my question is simply curiosity.

Rick
 
For all you World producers...What other states besides Ohio is World Competitive in? Thanks....
 
So they are 9% higher than Golden Rule, and 11% higher than Assurant (standard rates). and 7 and 15% higher for preferred.

I know nothing about the policy differences, but unless World has much easier underwriting, why would a professional agent use them?

By the way, we don't have World and the other two aren't even close to competitive in California, so my question is simply curiosity.

Rick

I've never written with them so my answer is "I don't know." For me, rates are a non-issue when it comes to underwriting. They are conveying to me that they have "easy" underwriting when a high deductible is applied. I shall see.

It's all neither here nor there since when you're independent you want to be appointed with all carriers in your state. There are some cases when your "go-to" carriers simply destroys someone in underwriting for no good cause. When that's the case it's onto number 2 and 3.

World is not in MD so they will never be my primary carrier, but I do write in other states.

My post was simply stating what they offer in commissions. If they are uncompetive in your state, don't offer any special regarding plan benefits or underwriting then it's a non-issue.

For what it's worth they call every client for a phone interview. I actually like that. It keeps all the unethical "app washers" away.
 
I find them very competitive with the Assurant One Deductible Plan. I sell the private-label NAIM Product, Benefit Wise/Benefit Choice/Benefit Max for all my "I just want catastrophic coverage" clients.

I've always been satisfied with their customer service, their product offerings, and their POS merchandise (brochures,apps, etc.)
 
I've done some playing around with their software. Not unlike any other carrier they are fantastic in some states and horrible in others. Just depends on your state.
 
Do insurance companies pay out on a weekly basis for as-earned commission or is it calculated on a monthly basis and you receive a check once a month? Thanks.

-J.R.
 
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