Two IMOs

[Melissa Steele]

I am newly licensed in L&H. There are two imos that I am really interested in. Is it ok to sell Final Expense with one imo and LTC with the other? I'm very interested in both areas and want to diversify. I'm started part time, but would like to build to full time to transition from real estate sales.

 

[HoosierLife]

Yes absolutely no reason you couldn’t contract with two IMOs to sell different (or the same) products.

However, while diversification sounds wise, in this situation it is not.

Final Expense and LTC could not be farther removed from one another. It is always wise to pick one niche and master it, before adding complimentary products.

And LTC is not a complimentary product to final expense.

Medicare, hospital indemnity plans and annuities can be great cross sells into the FE demographic. Not LTC.

 

[Melissa Steele]

Oh ok. That makes sense. Thank you.

If you work with two imos for same products, would you just make sure to apply with different carriers for each imo?

 

[HoosierLife]

Oh ok. That makes sense. Thank you.

If you work with two imos for same products, would you just make sure to apply with different carriers for each imo?

Well you would have to on the FE side. Only 1 or 2 carriers allow dual contracting, so you can only have one writing number per carrier.

The question is why would you want to do that?

 

[goillini52]

I am newly licensed in L&H. There are two imos that I am really interested in. Is it ok to sell Final Expense with one imo and LTC with the other? I'm very interested in both areas and want to diversify. I'm started part time, but would like to build to full time to transition from real estate sales.

If you're Independent, you can have as many FMO's as you want. Many usually specialize in in one line...like FE.

LTCi might be a tough line starting out. Not as many prospects and it takes longer to get paid than it does on FE.

 

[WinoBlues]

Yes absolutely no reason you couldn’t contract with two IMOs to sell different (or the same) products.



And LTC is not a complimentary product to final expense.

Medicare, hospital indemnity plans and annuities can be great cross sells into the FE demographic. Not LTC.

Probably true going typical LTC market to typical FE market.

However, Going LTC to SIWL is cake. IMohsoHO. I have not done any LTC in probably 10 years However, I believe all those clients also had life insurance with me. Could not tell you which product was first. "FE" is just life insurance.

I believe Newby or his wife sell MedSups, I would be surprised if many of those people do not also have life insurance with them.

 

[HoosierLife]

Probably true going typical LTC market to typical FE market.

However, Going LTC to SIWL is cake. IMohsoHO. I have not done any LTC in probably 10 years However, I believe all those clients also had life insurance with me. Could not tell you which product was first. "FE" is just life insurance.

I believe Newby or his wife sell MedSups, I would be surprised if many of those people do not also have life insurance with them.

Well that's probably true. Maybe I just assume with this being the FE forum they were planning on focusing on FE, but that might be too much too assume. And you know what they say about assuming

 

[DayTimer]

There are two imos that I am really interested in.

Who dat?

 

[Melissa Steele]

Who dat?

FEX and TR King

 

[DayTimer]

FEX

FEX is good people, especially that @jdeasy. Good luck!