Foresters or Amcon/Aetna, Who's Better?

[John Galt]

There's only a few channels of distribution for Foresters in the US. Everyone else is attached to those few channels. One large center that was selling primarily by phone from a call center and was using Foresters almost exclusively. This is a large churn and burn operation that's also known to be on the crooked side.

Before there was a limit these agents would run up huge advance balances and then vanish. Foresters has always been quick to roll up debt to the upline.

This one large operation is the reason for the limit. In Foresters wisdom they put the limit on everyone instead of the problem FMO distribution channel.

But still it takes an exceptional amount of business to get there and stay there. For most it's never gonna be an issue. For the few that it is there is relief provided as long as the IMO signs off on it.

I remember when this all came into play. I was with EFES and many were up in arms over it. It turned out to only affect 2 agents. And their situation was handled.

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Here we have what I like to call an aberration. We got a Mexican being paid in US dollars by a Canadian company. You just can't make that sh!t up!!

You mean Parker and .......aka ONELIFE AMERICA??

 

[Iwillpay]

I was one of the lucky ones that hit the 35K advanced debt and then ANOTHER CEILING and started to get paid as earned unknowingly. I wish they would warn you when you're getting close to their ceiling so you can choose to write another carrier or act on getting the ceiling bumped. I didn't realize I was getting paid as earned until I noticed I hadn't been paid about 7K in advancements.



Anyway, they went ahead and raised the ceiling but it took a couple of weeks and they were not quick about raising it.



As to the original question, I love both companies. If I had to pick a go to company it would be FORESTERS but AETNA is about as lenient as a company as you will find for level coverage.

Do they have a maximum advanced per policy? Example $1500.

 

[goillini52]

Do they have a maximum advanced per policy? Example $1500.

Maximum advance amount is $3,500 per certificate and they'll advance 75% of that...$2,625.

 

[Todd King]

Do they have a maximum advanced per policy? Example $1500.

Maximum advance amount is $3,500 per certificate and they'll advance 75% of that...$2,625.

It all depends on the upline/NMO and how much they will approve.

 

[gymguy]

Just curious cuz I have no clue, but do these companies ever advance people the full 12 months? Is that even possible?

 

[Todd King]

Just curious cuz I have no clue, but do these companies ever advance people the full 12 months? Is that even possible?

There are a few companies out there that would. I can't recall who they are, but as an agent or an upline, I would never want a 12 month advance for FE.

 

[gymguy]

There are a few companies out there that would. I can't recall who they are, but as an agent or an upline, I would never want a 12 month advance for FE.

I wouldn't care either way but honestly its not much different than a 9 month advance.

 

[argar5]

Which one has the shortest POS interview and the Easiest underwriting? Which carrier might come back and change their mind after the POS decision? Which carrier could end up telling you at the end of the POS that they need more information and will give you an underwriting decision at a later time? If you had to use one of them as a go to carrier, who would it be and why? Ok, Poll time!

what about Americo?

 

[rousemark]

There are a few companies out there that would. I can't recall who they are, but as an agent or an upline, I would never want a 12 month advance for FE.

Really don't think any agent, especially new agents should be on more than 6 months. JMO

 

[TwiLight]

Maximum advance amount is $3,500 per certificate and they'll advance 75% of that...$2,625.

Got that a little backwards.....

Max Advance is $3,500. Prem x 75% times your Commission Rate = Max $3,500