Americo for MP

tommyk · 05-24-2008, 05:36 PM

Approached by Americo to do Mortgage Protection.

Any words of wisdom about Americo doing this product?

I do not believe they are with NAA...correct or not?

I would appreciate any information on this.

Rick C · 05-24-2008, 05:48 PM

I don't write much with them, but a good company.
I don't think NAA uses them.

somarco · 05-24-2008, 07:48 PM

NAA used to , and may still, offer Americo. As I recall, one of the better MP carriers.

Don't sign unless you get a 100% contract (or at least close to that).

TimLett · 05-24-2008, 11:30 PM

Quote:

Originally Posted by somarco

NAA used to , and may still, offer Americo. As I recall, one of the better MP carriers.

Don't sign unless you get a 100% contract (or at least close to that).

NAA does not use Americo. I have Americo for MP through American Classic. Can't use them here in Alabama, but some on our team in other states enjoy them. They are pretty good for stuff other than MP.

ssobel3038 · 05-26-2008, 02:35 PM

I use to write a lot of MP with americo. They are great to work with. They just had a rate increase and there are other MP plans that are less expensive.

TXPRODUCER · 07-27-2008, 02:22 AM

bill3173 · 07-28-2008, 10:51 AM

One of the best company names to hear when you are doing MP business is Americo. Either a current policy holder or recently placed. They are priced 20% higher than the average carrier in this business, and a replacement and customer loyalty is imminent when you find their policy holders.

jjjtrio · 07-29-2008, 04:34 PM

bill3173

What companies do you use for MP?

bluemarlin08 · 07-29-2008, 06:48 PM

How do you compare Americo rates with fully uW policies from, AIG, Banner, Genworth, West Coast, Pru, Transamerica? I always loved to find Americo policyholders as well.

bill3173 · 07-29-2008, 07:59 PM

Quote:

Originally Posted by bluemarlin08

How do you compare Americo rates with fully uW policies from, AIG, Banner, Genworth, West Coast, Pru, Transamerica? I always loved to find Americo policyholders as well.

Actually, everytime that I've replaced an Americo policy, it has been fully underwritten, not a standard MP, even though an MP was the clients intention, that's the beauty of it. So in a back handed way, to answer your question, it is a fully uw comparison.

As far as a true non med MP, Fidelity is hard to beat. If they have some issues, Life Investors does a good job. Beyond that, you get into some expensive s--t with Assurity.

bluemarlin08 · 07-29-2008, 09:14 PM

bill3173,
I wasn't directing the question to you, I work my MP similar to you, using fully UW products. Curious as to what the advantage to using this company, that is rated A-, if that makes any difference. The MP business can be great, especially during the boom times.

sunshine · 07-30-2008, 04:06 PM

Regarding the americo Final Expenses - Graded Benefit, Ultra Protector III, is anyone elses marketing agency telling them that the commission is only 40%, or is it just me???