Any opinion of these companies
- Thread starter quenton
- Start date
- 18,988
SNL is probably the worst FE company I’ve ever been contracted with.
And their product is not competitive with anyone. LH agents can replace SNL.
- 489
What was it about SNL that made them the worst carrier you’ve been contracted with? Beside the rates being high?
I have a close friend that has been with them exclusively for maybe 15 years. A large agency from senior life left to work with them called Latinos unidos also.
Did their comp or products change?
- 18,988
No. They were terrible when they had ok rates.
You gotta be really bad to be below Americo, AmAm, Settlers and LH. But they are.
They are a wannabe Trans but far worse.
I’m on the road at the moment. But I can give details.
Right now I think they are stealing from me. But they damn sure won’t discuss it.
Telesales314
Expert
- 73
Firstly, I would not advise joining a situation where you were tied to one carrier, no matter who it is.
Disclaimer: I have no personal experience writing for either carrier but I can just give my overall 2 cents based on their own words.
[EXTERNAL LINK] - Final Expense and Burial Insurance Agent Opportunity | Securico Life
I think many experienced agents will agree with me that the picture they are trying to paint is BONKERS.
Their website is saying that 'traditional' carriers start you at 90% and then you need 125k/mo to get to 120% while at Securico you only need 10k/mo. Most carriers are not that way.
I am at 120-125% for most carriers (omaha lower) and I can tell you this much, (BREAKING NEWS EVERYONE) I do not sell $125K/mo. My carriers are going to be so pissed when they realize they paid me the EXCLUSIVE rate for $1.5 Million annual producers, and they are missing almost 80% of the policies.
I have never had carrier commission go up/down whether I was sending 15k a month to a carrier or 1-2 policies every 6 months.
(an IMO might have different rules for that, but that is separate)
Also notice the website states how 'top producers' can get 140%....is that 30K/mo? 50k? 70k? Who knows. However, if I was placing 50k/mo or whatever the metric is, my IMO would have no issue raising my commission based on that type of volume.
And the comparison farther down the page with the checkmarks and the x's is comical too. TONS of carriers have those things that are x'd out.
So if it is any sort of captive opportunity with them, I personally would pass, because I feel like you are restricting yourself to one carrier, and not really getting any financial advantages, only underwriting disadvantages.
-Sidenote-I cannot find any of their applications/underwriting online, nor their pricing, which is, at least for me, a red flag. If a company genuinely thinks their product can hold up, it should be SUPER easy for agents to find info on it.
Plus, EVERY plan, no matter how great, is not going to cover every niche. So tying yourself to one company is just not a great idea in my opinion. I know there are people that can and have succeeded those companies, I just think your odds of success are higher with and IMO that would give you access to multiple carriers.
Disclaimer: I have no personal experience writing for either carrier but I can just give my overall 2 cents based on their own words.
[EXTERNAL LINK] - Final Expense and Burial Insurance Agent Opportunity | Securico Life
I think many experienced agents will agree with me that the picture they are trying to paint is BONKERS.
Their website is saying that 'traditional' carriers start you at 90% and then you need 125k/mo to get to 120% while at Securico you only need 10k/mo. Most carriers are not that way.
I am at 120-125% for most carriers (omaha lower) and I can tell you this much, (BREAKING NEWS EVERYONE) I do not sell $125K/mo. My carriers are going to be so pissed when they realize they paid me the EXCLUSIVE rate for $1.5 Million annual producers, and they are missing almost 80% of the policies.
I have never had carrier commission go up/down whether I was sending 15k a month to a carrier or 1-2 policies every 6 months.
(an IMO might have different rules for that, but that is separate)
Also notice the website states how 'top producers' can get 140%....is that 30K/mo? 50k? 70k? Who knows. However, if I was placing 50k/mo or whatever the metric is, my IMO would have no issue raising my commission based on that type of volume.
And the comparison farther down the page with the checkmarks and the x's is comical too. TONS of carriers have those things that are x'd out.
So if it is any sort of captive opportunity with them, I personally would pass, because I feel like you are restricting yourself to one carrier, and not really getting any financial advantages, only underwriting disadvantages.
-Sidenote-I cannot find any of their applications/underwriting online, nor their pricing, which is, at least for me, a red flag. If a company genuinely thinks their product can hold up, it should be SUPER easy for agents to find info on it.
Plus, EVERY plan, no matter how great, is not going to cover every niche. So tying yourself to one company is just not a great idea in my opinion. I know there are people that can and have succeeded those companies, I just think your odds of success are higher with and IMO that would give you access to multiple carriers.
- Thread starter
- #6
Anyone who does ok business can get 130% threw some IMO’s . I’ve got some off 130% contracts with IMO’s I’ve done little business with . Again you got to do the leg work to find it .
So you're getting 130% on business that you don't write?
- 18,988
I get way more than that on unwritten business.
No 130% with CO’s I do little business with . What I’m saying there are IMO’s that will give 130% to agents With little business . Im a risk free agent
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