Semantics... I beleive her point was that you have to be an IMO (In the traditional meaning) to receive this contract. Meaning you must have some type of production requirements. I wanted her to understand that 120 contracts are being given to agents that have no prior production. And if she was told that she did not qualify for that contract because it was an IMO contract... Well she was mislead. From what I have seen she could have got a 120 from many diffrent marketers. There is a definite diffrence on what the entire industry deems an IMO contract than what Foresters slings around.
Maybe she could come on and say what she was told, and why she did not get the 120? I am just looking out for the agent, not the Marketer.
There are no hard feelings from my end. I thought Foresters was getting an undue bad rep in this thread. The premiums ARE competitive, the commissions are not as inflated (at least on paper) as was suggested. There was quite a bit of misinformation portrayed as fact. Aren't we glad that's all sorted.?! LOL
I don't know anything about Forresters good or bad. But I looked at what was sent to me a few months ago from a random Telemarketer for them.
He didn't know me from Adam and was trying to sign me up at 115%. When I showed no real interest in appointing he raised it to 120%. No production requirements at all. He didn't even know if I've ever sold a policy.
The top of the contract says PLRIMO1B.
I would have to agree that Forresters IMO contracts are pretty much passed around like candy. The renewal rates look very low after the 2nd year.
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J Scott Burke
Funeral Preplanning
Life Insurance
Medicare Supplements
Long-Term Care Insurance
Annuities
Indiana, Kentucky, Tennessee www.newburyfinancial.com
I agree foresters is a solid company they offer competitive rates and commissions are in line with other carriers as well. They also have a very good e&o program they sponsor for agents which is also very competitive. A lot of misinformation was posted. Fill free to drop me an e-mail if your interested in working with them as we do market their products some.
I agree foresters is a solid company they offer competitive rates and commissions are in line with other carriers as well. They also have a very good e&o program they sponsor for agents which is also very competitive. A lot of misinformation was posted. Fill free to drop me an e-mail if your interested in working with them as we do market their products some.
OK, the comments in this thread got me to wondering if the chareback policy had been changed. I called Foresters to see. I just got off the phone with them and they said the chargeback policy had indeed been changed. It is now simply a prorated chargeback. If you are 'as earned", as I am, there would never be a chargeback. If you are advanced and the client drops the policy after 3 months, you would be charged back all advances over the 3 months. They said it was changed Jan. 1. I haven't written a Foresters this year.
As far as their premiums being competitive on their FE. That's a matter of opinion. They are not competitive with the companies that I offer. So, if you write Foresters in western Ky and southern In., you better hope I don't follow in there.
In my experience it seems every 18 months or so a “New FE Product” is rolled out with a lot of buzz, and the same gullible, dumb, and habitually unsuccessful agents get all worked up with delusions of grandeur, about their newfound pending success.
We hit the jackpot people! Forrester’s will give all life agents a 120 percent contract!!! That’s right!!! Everybody qualifies!!! We have discussed this topic a million times. How can I make money in FE? Many people feel it is all about commission. And if you are from that school of thought… “And Yes, I am talking to you Billy Bob, from Crap-town, USA. Just because your brother-in-law, talked you into leaving your job at the Cell Phone Store, to get your Insurance license so you could give away Med-Advantage does not mean you have to quit insurance. Turns out, there was a reason that snake did not bite you Sunday morning at church after all. God has answered your prayers and blessed you with an Insurance company that is going to finally give you what you deserve… 120 percent contract!!!
So even though selling FE over the phone was a bust. And Forethought never really worked out for you. I am confident that all of the “Charlie Brown” agents will not have the football of success pulled away from you again…
This is the serious part of the post… We should all be grateful we have knowledgeable people like Jdeasy & Newby who take time and post educational and meaningful stuff on the board. Don’t blame the agent because they did not understand the underwriting or the charge back policies. They were blinded with their own tears of joy over scoring that 120 percent contract… Welcome to Easy Street…
My thanks to all the old pros.... I read them all. Yours to Hoosier Daddy.
Greenhorn
------------------------------------ Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to take rank with those poor spirits who neither enjoy much nor suffer much, because they live in the gray twilight that knows not victory nor defeat.
Equita does offer broker contracts with Foresters. We are not adding them to the lead program group of companies. From what they have told me the rates are comparable to Americo. And Americo has much easier underwriting so we would not be gaining anything by adding them to the portfolio of the companies we use for the lead program. The rates are higher than RNA & AmAm.
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For the best Final Expense opportunity in the Country, contact me at ttubbs@indy.rr.com
Last edited by HoosierDaddy : 09-26-2009 at 06:50 PM.
"Forester contracts gets much higher than 120. If you want, I can make you an offer based off of your production. Give me your external contact and I'll send you the REAL grid."
THATGUY how can I get in touch with you discuss production and contracts with you?
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Originally Posted by Thatguy
Forester contracts gets much higher than 120. If you want, I can make you an offer based off of your production. Give me your external contact and I'll send you the REAL grid.
Sorry about the post above just learning to use this site!
ThatGuy I would really like to talk with you about your contracts!
Last edited by JasonR : 10-16-2009 at 05:48 AM.
Reason: Posts merged
Re: Foresters: Final Expense
Re: Foresters: Final Expense
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