Breaking News ! Settlers Has Folded

[noah]

Just confirmed,as of 11/7/2018,Settlers will fold. The news broke to company staff on 11/01/2018.The decision was made by their parent company NGL. Policy holder services,commissions,claims will continue to handle business with a goal of having everything being handled out of NGL home office in Madison,Wisconsin no later that 4/01/2019. It was nice while it lasted !

 

[suranceman]

Source?

I guess Bontellevsion didn't work.

 

[Mattschmidt]

Just confirmed,as of 11/7/2018,Settlers will fold. The news broke to company staff on 11/01/2018.The decision was made by their parent company NGL. Policy holder services,commissions,claims will continue to handle business with a goal of having everything being handled out of NGL home office in Madison,Wisconsin no later that 4/01/2019. It was nice while it lasted !

These things are fairly common when your company is acquired, is it not?

 

[Allines]

Yes it is usally good business for a merger, and is a far cry from "folded"

 

[lifeagent007]

Just got the email too,

Surprised, They must of spent a fortune on revamping product, tele app "America's final expense company" etc only to close new production. Does not seem like ngl is taking over operations otherwise it would just be re branding all to ngl right?

 

[Mattschmidt]

Just got the email too,

Surprised, They must of spent a fortune on revamping product, tele app "America's final expense company" etc only to close new production. Does not seem like ngl is taking over operations otherwise it would just be re branding all to ngl right?

oh. I thought NGL was going to continure to market their products etc. Not the case??

 

[Newby]

oh. I thought NGL was going to continure to market their products etc. Not the case??

Yes NGL is still selling their products. They are the #1 highest volume pre-need funeral policy sold through funeral homes. I think they are mainly focused in that area. Plus whatever GI stuff they still offer if any.

I have always wondered why NGL doesn’t jump directly into the FE game themselves. I would have to think that if they had any plans to do that and start from a blank sheet of paper, selling off or closing down Settlers would be the first step.

 

[Baseball7]

Just got the email too,

Surprised, They must of spent a fortune on revamping product, tele app "America's final expense company" etc only to close new production. Does not seem like ngl is taking over operations otherwise it would just be re branding all to ngl right?

Exactly, that doesnt seem like actions a company on the way out would have taken.

 

[NSRH]

NGL is wanting out of the FE business. Their #1 focus is Pre Need. What they've done with Settlers is not any different than what they've done with a number of other FE carriers.

 

[rousemark]

Only used them for "short" people lately.. Who, other than Trns does not have a Height and Weight chart?