Insurance Agent Forum

[TXINSURANCE]

Aetna has a $100 per app bonus in most markets so if you write a little more with them you will be up +$99.96 per application written and have the last laugh.

[salpro22]

Originally Posted by TXINSURANCE

Aetna has a $100 per app bonus in most markets so if you write a little more with them you will be up +$99.96 per application written and have the last laugh.

Key thing being up to $100 based on apps. They are a good company, I'm just not a fan of their business philosophy of paying agents lower commissions while raising the premium.

[TXINSURANCE]

Key thing being up to $100 based on apps. They are a good company, I'm just not a fan of their business philosophy of paying agents lower commissions while raising the premium.

All they are doing is NOT paying on the rate up which is what the vast majority of IFP carriers do anyhow. They are just doing a different math to accomplish the same thing.

Big Blue and most other carriers in most markets do not pay on rate up. There are exceptions and market variations.

Instead of paying level 15% or level 20% on "preferred premium" they are paying 13.5% or 8.5% whatever on the entire premium.

I think if you work the math backwards it works out the same.


Except for 4 cents of course

[al3]

Originally Posted by GreenSky

So I guess this was bullsh*t. Al, where is your credibility?

Rick

I thought I posted about this. I guess not. The local rep contacted me, she took me to a very nice breakfast, explained the whole situation, said that company is going to change policy so that this does not happen again and since she used to write for Colonial and I knew her I pretty well, I was satisfied. All's well that ends well.

Al

[salpro22]

Originally Posted by TXINSURANCE

All they are doing is NOT paying on the rate up which is what the vast majority of IFP carriers do anyhow. They are just doing a different math to accomplish the same thing.

Big Blue and most other carriers in most markets do not pay on rate up. There are exceptions and market variations.

Instead of paying level 15% or level 20% on "preferred premium" they are paying 13.5% or 8.5% whatever on the entire premium.

I think if you work the math backwards it works out the same.


Except for 4 cents of course

I wasn't questioning how they calculate paying agents, what I'm saying is that I don't like the way they do business because I'm not trying to become a company like HBD. Perhaps down the line I will venture that way, just not right now.

Assurant, GR, World, Unicare and BCBS (in some states) are good companies and all of them offer nice commissions at reasonable production levels in most states, with the blues a bit different. The plans are also very good for the most part.

Clean apps go through GR, while cases with pre-existing conditions go through Assurant 95% of the time. Aetna's plan in PA are very nice, while their plans in MD lack benefits. Last time I checked with Aetna they want 100 apps to bump me up to 19%. So at my average level of 3000 AV we are talking 300,000 a month. If I was producing 300,000 a month I'd be a happy man making 19%. I'd be even more happier making 20%-30%+ with other carriers who don't ask for my fricking SS number every time I call.

I'm not knocking your business ethics or ideals because you seem to have a good head on your shoulders and I respect that. We each have our favorite carriers!

[somarco]

RX drug caps are common with most individual carriers

Like everything else, it is a state by state issue.

When they came to GA a tad over 2 yrs ago they were the only carrier using a drug cap (except Right Start of course). Now they have eliminated it.

All they are doing is NOT paying on the rate up which is what the vast majority of IFP carriers do anyhow.

Varies by state & carrier.

I can't believe a 2 page thread over 4 cents. Someone has way too much time on their hands.

The local rep contacted me, she took me to a very nice breakfast, explained the whole situation

You got a breakfast over a 4 cent complaint?

Amazing.

[TXINSURANCE]

You got a breakfast over a 4 cent complaint?

Thats the funniest part of the whole thread!!!

It took me 2 years of massive production to get a breakfast / lunch and you got one over 4 cents? More power to you!!! I love it...

[healthagent]

I'm also impressed. I was one of 5 agents who attended their seminar late last year and have to be among the top agents writing indie policies for them in MD. All I got was a bag of coffee.

The seminar was held in a smal, dank room at a cheesy hotel at BWI airport and pretty much told me how much Aetna was willing to invest in their agents. Heck, GR gave out Ipods.

[Alston]

Aetna has a good rates in Connecticut so far. They are relatively new here for individual health. I guess the rate increases are coming.

My biggest problem with them is that they have a very counter intuitive website. Also if you let your clients link to Aetna's online application, you might not get paid.

If the client changes his or her mind and decides to download the application instead of completing it online, they will get an application that is missing your agent number.

By the way, their PPO compares well with Blue Cross' Tonik.

[arnguy]

John, double posting! Isn't your posting rate high enough that you don't need to ramp it up with a double posting? You are still in the lead.

[al3]

Originally Posted by somarco

You got a breakfast over a 4 cent complaint?

Amazing.

I find the reps up in my area to be responsive and always willing to meet for coffee and pastry or a sandwich... on their expense account. This is especially true for the GAs like BM and Rogers.

We didn't go to the Ritz Carlton for breakfast! But it was a really nice breakfast at very nice Italian bakery and restaurant called Dianda's.

What kind of salesman can't get a light breakfast or lunch from a carrier rep or GA? A young-kid, geek-head salesperson I could understand (I was one for years!), but an (experienced) professional insurance salesperson? And people say that I'm in the wrong line of work? Maybe, but I know how to "sell" a rep on taking me out on their expense account. (It's not like it's coming out of THEIR pocket or anything!)

Old Jewish saying: If you don't ask... you don't get.

Here is the "secret". Pay attention.

"Hi Michelle, Al Canton here. How are you doin'? You on the road a lot these days? You ever hear from XXX (someone we know in common). I haven't in months. Listen I have some issues with [carrier, GA, etc.] What say we meet at Starbucks in Gold River or Diandas in Fair Oaks for a coffee and a wrap [sort of a sandwich] say Wed at noon? My treat. Yeah, I can do it Thursday instead. Which place is closest to where you are going to be that day? OK, see you then. Bye."

We eat, we talk, and somewhere in the conversation I mention why I'm not happy or what my issue is... and that I have options... and that it would be a good thing for him/her to see if it can be fixed. "Michelle, you were once a producer so you know I have options with other [carriers, GAs, etc.] This is a hard business. You remember what it's like to live on "as-earned' without an expense account? I want to keep sending you business. Do you have any ideas for me on this [whatever it is].

95% of the time when I take out my AMEX card to pay they say something like "Let me get this. I value your production... etc." I say "Nah, don't worry about it. It was my invite." They say "Please, it's on the company... don't worry about it... just send me a good case!"

The point being [and pay attention] is that I don't MIND buying their lunch. I have to eat anyway! I'd rather THEY pay for mine... but it's not a big deal.

And here is "the secret." If you don't care if you win or lose most often you end up winning. I don't know why that is. I've been in sales most of my life and managers (and the books) have always taught "Go for it, be agressive, get in there, hit hard, blah, blah, blah. It never worked for me... on anyone I've ever known.

I've never figured out why when you detach yourself emotionally from the sale... you more (most) often get the sale. Mystery to me. And when you don't get the sale, you don't feel like throwing yourself off a bridge or (in my case) into a Gin bottle!

HTH. YMMV.

Al

[healthagent]

Originally Posted by Alston

Aetna has a good rates in Connecticut so far. They are relatively new here for individual health. I guess the rate increases are coming.

My biggest problem with them is that they have a very counter intuitive website. Also if you let your clients link to Aetna's online application, you might not get paid.

If the client changes his or her mind and decides to download the application instead of completing it online, they will get an application that is missing your agent number.

By the way, their PPO compares well with Blue Cross' Tonik.

Aetna had fantastic MD rates and was taking everyone with a pulse. Now the rates are not great - family age 50 with a $2,500 deductible is $816 per month. A family 45 years old is $693. Even just a single male age 30 is $184. No takers. They also rate the entire policy if just one member has a condition - a huge deal killer.

[BKrocko]

Originally Posted by Alston

My biggest problem with them is that they have a very counter intuitive website. Also if you let your clients link to Aetna's online application, you might not get paid.

If the client changes his or her mind and decides to download the application instead of completing it online, they will get an application that is missing your agent number.

You're right. They have a crazy set up with the link - just to send a quote, it assigns a temp username and password. The prospect has to log in initially with the temp as a returning user, change the name/password and go from there.

It takes more time explaining to them how to log on to view the quote than to make a sale! They really need to fix that.

The other thing is that it will not allow the same email address to be use more than once. If you enroll 2 or more family members on separate policies, you have to create a new email account for each person to do it. Obviously, whoever designed the process is clueless.

[healthagent]

That would also assume anyone can fill out the Aetna online app in the 1st place. Most agents I know can't navigate it. I can just picture someone trying to go to the next page and seeing 5 red error messages.

[al3]

Originally Posted by healthagent

They also rate the entire policy if just one member has a condition - a huge deal killer.

My rep told me that it is the express policy of Aetna to split out a family member to own plan if they are rated up. She says I could put in a family plan and if husband is sent to level B he will be on own plan and rest of family on theirs. She said this 'feature' is part of their UW system. I don't know if this is true, but she had no reason to lie. I routinely submit 2 apps when I know one member is going to be APSd, no matter who the carrier is.

Al

[al3]