Carrier Appetite and Final Expense Debate!

[lifeagent007]

Hi guys Im a final expense life agent who works with mostly 60 to 85 year olds. Usually no driving record or speeding tickets. I am wondering what carriers are the lowest cost for auto for this demographic. I am in Grand Rapids Michigan.
And would definitely consider regional carriers as well.

Thank you so much!

 

[AZDave]

Why? Are you looking to get your own appointment with that carrier (s)? Free up some auto insurance money so they can spend more on FE? Be their one stop insurance advisor?

 

[lifeagent007]

Why? Are you looking to get your own appointment with that carrier (s)? Free up some auto insurance money so they can spend more on FE? Be their one stop insurance advisor?

One stop advisor is what I'm aiming for. But yes saving them money and providing service helps all my policies in the home stick.

 

[AZDave]

My advice; I heard Allstate is hiring.

Or any other captive. Get the training, product knowledge and build up a book. After a few years, you may then be in a position to join an aggregator/cluster/group and journey on your own.

To get an appointment today with any decent carrier is not a possibility for someone with no experience in P & C.

And to target the senior market for auto and home - no thanks.

Just my thoughts.

 

[lifeagent007]

My advice; I heard Allstate is hiring.

Or any other captive. Get the training, product knowledge and build up a book. After a few years, you may then be in a position to join an aggregator/cluster/group and journey on your own.

To get an appointment today with any decent carrier is not a possibility for someone with no experience in P & C.

And to target the senior market for auto and home - no thanks.

Just my thoughts.

Dave, although I appreciate your advice. I don't think u understand my situation. Im very successful life and health agent. Looking to expand into p&c. also cluster groups don't all require a book to start. But does anyone have an answer for what carriers have an appetite for seniors? Who will be most competitively priced for that age group?

Thank u

Lifeagent007

 

[Philly]

I'm in Michigan and it is pretty hard to get appts. Auto-owners is good in the senior market and with good driving record. They are nearly impossible to get an appt. now.

 

[Indiana_Adam]

L&H are completely different than P&C. Im sure if a P&C agent posted about life what you did with P&C..you'd sh*t a brick. Who cares how big your life/health book is or how long you'v been in that side? There is a lot more to P&C than price. You should take on an experienced P&C agent or get team up with an established agent.

 

[lifeagent007]

L&H are completely different than P&C. Im sure if a P&C agent posted about life what you did with P&C..you'd sh*t a brick. Who cares how big your life/health book is or how long you'v been in that side? There is a lot more to P&C than price. You should take on an experienced P&C agent or get team up with an established agent.

Ok I'm going to try and be polite with these responses so here I go.
Thank you for pointing out that the market is different.

I don't have a problem finding cluster agencies I have offers from several including siaa because of my warm market.

I'm not, as azdave suggested, going to go captive with a company like allstate when I'm running my own independent life health agency so that advice was nonsence.


Thanks anyway...




And Yes Auto Owners does, from what I've heard seem to be good with this demographic, thank you! Ive also heard the Hartford is good in this market, any advice?

 

[AZDave]

What is nonsense is thinking that you can get direct appointments with multi line national carriers.

What is nonsense is thinking you can be the 'one stop adviser' by selling price.

If you have 'several' offers with joining a group, why don't you join one and you will find out who is the cheapest out there.

 

[Indiana_Adam]

I would ask SIAA and the other clusters you are interested in.They should have an idea of which carriers write that market. AutoOwners rates in IN are high.

Be careful though, as I imagine the loss ratio with this group will be high, especially if you are after direct contracts.