Final Expense companies

[jdeasy]

I know you're experienced at this, why would you consider these companies a "worse line up?"

I had to go back and look at what companies were mentioned. Those are just bad choices. Mofo is terrible. They might have an occasional good rate but then you still have to deal with Mofo.

AmAm is in the worst 3 companies I've ever dealt with. And their rates are terrible so there's no reason to deal with them anyway. Foresters rates are too high. and you still have to do a phone interview in 2023. Servicing your clients is almost impossible with them. Trans shouldn't need an explanation. AIG does nothing that others don't do far better.

But I was wrong in saying he couldn't have picked worse, he could have had SNL in there. As I told SNL yesterday, "I have never worked with a worse company". And I haven't. So at least they didn't chose them.

At our annual meetings and on our calls and chats I have always advised agents to work with companies that make your job easier, not harder. None make it easy. But many make it harder. New kid on the block, CICA, is just determined to make things hard. Another new kid, PFA, seems to want to make it easier. But I only have them in one state so not enough data yet.

That list will be different by agent. Some agents find Trinity/FBL easier to deal with. I don't. And some companies that you would like to write are just too high on pricing or too difficult to get placed there. I would like to write more CinnEq. But their pricing is just too far out of line and they don't have any underwriting niches to justify using them. They keep saying they are going to improve and they hired a guy a year ago that should help in that direction but so far it hasn't happened. There's one person at CinnEq that calls all the shots and until and unless he leaves there won't be significant changes.

 

[Newby]

Do you have anyone you recommend that can do mailing campaigns? Thank you

I highly recommend that you are with an FE focused IMO that has great direct mail options that you wouldn’t have access to as an independent. That’s by far your best option.

But short of that, if you just want an honest mail house to mail through I would go with The Lead Connection or Need a Lead.

 

[tippingpoint]

AIG does nothing that others don't do far better.

I haven't used them yet but from what I underestand, people use them as a go to when people are on a lot of medications?

 

[jdeasy]

I haven't used them yet but from what I underestand, people use them as a go to when people are on a lot of medications?

They used to only have the GI for brokers. Now they have a level plan too. I doubt it's very lenient on underwriting. I started my insurance career captive them. I'm not picking them up as a broker.

 

[rousemark]

I had to go back and look at what companies were mentioned. Those are just bad choices. Mofo is terrible. They might have an occasional good rate but then you still have to deal with Mofo.

AmAm is in the worst 3 companies I've ever dealt with. And their rates are terrible so there's no reason to deal with them anyway. Foresters rates are too high. and you still have to do a phone interview in 2023. Servicing your clients is almost impossible with them. Trans shouldn't need an explanation. AIG does nothing that others don't do far better.

But I was wrong in saying he couldn't have picked worse, he could have had SNL in there. As I told SNL yesterday, "I have never worked with a worse company". And I haven't. So at least they didn't chose them.

At our annual meetings and on our calls and chats I have always advised agents to work with companies that make your job easier, not harder. None make it easy. But many make it harder. New kid on the block, CICA, is just determined to make things hard. Another new kid, PFA, seems to want to make it easier. But I only have them in one state so not enough data yet.

That list will be different by agent. Some agents find Trinity/FBL easier to deal with. I don't. And some companies that you would like to write are just too high on pricing or too difficult to get placed there. I would like to write more CinnEq. But their pricing is just too far out of line and they don't have any underwriting niches to justify using them. They keep saying they are going to improve and they hired a guy a year ago that should help in that direction but so far it hasn't happened. There's one person at CinnEq that calls all the shots and until and unless he leaves there won't be significant changes.

What is CICA doing to make things difficult?

 

[jdeasy]

What is CICA doing to make things difficult?

Their website is almost impossible to understand. They do not bill properly. They do not answer the phones or return phone calls.

They claim they mail policies but none of my clients have received a policy from CICA.

They will, and have, emailed the policies to me. So all of my clients do have a policy.

It’s a constant theme on our chats that people aren’t getting policies.

Communication is their worst thing though. Or lack of, I should say.

But they are a niche company so it’s not a big deal.

They are kinda easy to write once you learn their application process. But it’s still slow.

It’s almost as bad as doing a Trans or Aetna eApp.

 

[rousemark]

Their website is almost impossible to understand. They do not bill properly. They do not answer the phones or return phone calls.

They claim they mail policies but none of my clients have received a policy from CICA.

They will, and have, emailed the policies to me. So all of my clients do have a policy.

It’s a constant theme on our chats that people aren’t getting policies.

Communication is their worst thing though. Or lack of, I should say.

But they are a niche company so it’s not a big deal.

They are kinda easy to write once you learn their application process. But it’s still slow.

It’s almost as bad as doing a Trans or Aetna eApp.

I am experiencing what you say about communication. Tried to access their agent portal yesterday morning and got a pop up my AML had expired and said I had to take their AML training before the portal would be available. Took the training and when I tried to log in I got the same message. Took the training again, same thing. Tried to use a different browser, same thing. Called support. They said they would open a ticket and call me back. 24 hours later, still waiting for the call. Doesn't matter how good the product might be, if agents can't get prompt assistance from them. agents will not use them.

 

[jdeasy]

I am experiencing what you say about communication. Tried to access their agent portal yesterday morning and got a pop up my AML had expired and said I had to take their AML training before the portal would be available. Took the training and when I tried to log in I got the same message. Took the training again, same thing. Tried to use a different browser, same thing. Called support. They said they would open a ticket and call me back. 24 hours later, still waiting for the call. Doesn't matter how good the product might be, if agents can't get prompt assistance from them. agents will not use them.

So they don't just have my number flagged?

 

[rousemark]

So they don't just have my number flagged?

No, they are still thinking about it.

I can't get through on their regular number, but I can on 737 289 4670. But even on that number it is weird. When you call the menu gives 5 options and neither is for agent services. But if you do not press a number and let the menu repeat, it will give 6 options with number 6 being agent services.

 

[rousemark]

Will CICA let grandparents buy insurance on grandchildren without the parents signature and do you have to have the child's SS#?

What are folks using to record the phone calls and where are you storing the conversations?