- Staff
- #521
salpro22 said:
oh come on........you know the naa way......
http://jobsearch.monster.com/jobsearch.asp?q=mortgage+protection&fn=&lid=&re=130&cy=us&JSNONREG=1
Is anyone going to the Convention (National Agents Alliance) (NAA
- Thread starter dvd493
- Start date
oh come on........you know the naa way......
http://jobsearch.monster.com/jobsearch.asp?q=mortgage+protection&fn=&lid=&re=130&cy=us&JSNONREG=1
M
Mike_Golden1
Guest
realistagent said:
Call Corente Insurance (you can find them on the web), spend $700 for 45 leads, write over $8K of submitted premium on these and they will give you 60 free ones every month as long as you write at least $8K. Commission levels for this program are 90-95%
They have F&G, Americo, United of Omaha, AIG and a few others-if you have been writing with F&G with NAA you will have to wait 6 months before switching the contract but Americo and United of Omaha have good Mortgage Protection programs as well (although F&G has a more comprehensive program for older people and doesn't do a blood test for the Saver's Select underwritten product, which makes approval much easier).
- 948
Note of caution
Depending on where you are located, you may want to check with the Insurance Commisssioner on their Advertising guidelines for their state. I know that in KS, there are very stringent guidelines & as an agent if you mail to new mortgage holders with a vague letter like the NAA one, you can be fined & told to "cease & desist".
Yes, Mellissa Data & other sources have the available data for sale, but in KS if you send a solicitation for insurance there are all kinds of criteria that have to be met for the solicitation to be "legal".
One requirement is that the insurance provider must approve of the letter/sales pitch & have that very document on file in their home office in case they are investigated & asked to produce it. You must also name the insurance company & can't make certain statements (many of the ones in the NAA letter would violate their criteria).
I know that's the reason NAA or any of the "mortgage protection" brokerage houses don't mail there.
Depending on where you are located, you may want to check with the Insurance Commisssioner on their Advertising guidelines for their state. I know that in KS, there are very stringent guidelines & as an agent if you mail to new mortgage holders with a vague letter like the NAA one, you can be fined & told to "cease & desist".
Yes, Mellissa Data & other sources have the available data for sale, but in KS if you send a solicitation for insurance there are all kinds of criteria that have to be met for the solicitation to be "legal".
One requirement is that the insurance provider must approve of the letter/sales pitch & have that very document on file in their home office in case they are investigated & asked to produce it. You must also name the insurance company & can't make certain statements (many of the ones in the NAA letter would violate their criteria).
I know that's the reason NAA or any of the "mortgage protection" brokerage houses don't mail there.
RE: Renewals with NAA. The prime company, as you all know is F & G, although they are also aligned with Foresters. F & G used to give renewals, as well as bonuses (more on this in a minute), but they've not done so for NAA agents for over a year now that I'm aware of, nor will they do it this year, 2007. The reason - because so many applications were declined by F & G. NAA agents are not trained, they write bad policies and F & G declines. About 40% this past year. And it costs F & G (now OMFL) money to process these cases they will have to decline. So - no renewals for NAA agents. Foresters will be paying 2% renewals, but only to the agent after the agent's been writing with them for 2 years. During the meantime, it goes to his/her upline.
Regarding bonuses. The manager (not the agent who sells the policy) gets a bonus from F& G through NAA for selling non-med policies. And yes, the managers got these bonuses last year and will continue to get them. That's what Ralph Simpson is talking about when he talks about getting "free money".
Regarding bonuses. The manager (not the agent who sells the policy) gets a bonus from F& G through NAA for selling non-med policies. And yes, the managers got these bonuses last year and will continue to get them. That's what Ralph Simpson is talking about when he talks about getting "free money".
realistagent
Expert
- 63
Yes, that would explain the conference call from the other day.
- Staff
- #526
realistagent
Expert
- 63
Ya, They we really ragging at people for writing fully underwritten policies.
I'm glad I joined this forum as I have put into motion the required activities to move away from NAA.
I'm glad I joined this forum as I have put into motion the required activities to move away from NAA.
realistagent
Expert
- 63
They are also really pushing Foresters now. Problem is, Foresters does not even make a UL available to NAA for anyone over 16 yrs old. Just Juvenile policies. Their term rates can't be beat though. (Only when fully underwritten). But their underwriting is very liberal.
- Staff
- #529
cod8825
Expert
First I cant believe we are still writing on this thread and subject at some point we have got to say enough is enough.
Mateo3000 I haven't heard from you or read anything so here is what you can do if you really want to do MP. Use MP as the means to really insure them. When I started I got contract with a company called Mortgage Protection Bureau at 75%
They wanted me to do mailers that was expensive and nuts. I can't remeber how I came across it but it was a system that worked well for me and was extremely effective.
Buy your lists from Melissa Data or another company that provides recent home purchases or refis against the DNC list.
Then set about two hours a day four days a week to start then after about two months an hour a day four days a week and start calling. You will want a couple hundred names at a time. You will have better luck calling in the evening but know your residences. Some neighborhoods have a lot of second shift and third shift workers who are at home during the day or maybe a lot of stay at home moms and dads.
Anyways call them expect a lot of hangups and mad people but you will find most of the people you do get to will be good leads. Use the attached script it works. If your ok with MP it will work or again use MP to really insure their life with a fully underwritten product.
Mateo3000 I haven't heard from you or read anything so here is what you can do if you really want to do MP. Use MP as the means to really insure them. When I started I got contract with a company called Mortgage Protection Bureau at 75%
They wanted me to do mailers that was expensive and nuts. I can't remeber how I came across it but it was a system that worked well for me and was extremely effective.
Buy your lists from Melissa Data or another company that provides recent home purchases or refis against the DNC list.
Then set about two hours a day four days a week to start then after about two months an hour a day four days a week and start calling. You will want a couple hundred names at a time. You will have better luck calling in the evening but know your residences. Some neighborhoods have a lot of second shift and third shift workers who are at home during the day or maybe a lot of stay at home moms and dads.
Anyways call them expect a lot of hangups and mad people but you will find most of the people you do get to will be good leads. Use the attached script it works. If your ok with MP it will work or again use MP to really insure their life with a fully underwritten product.
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