If You Had to Pick One Genworth Vs Aegon

torri · 07-30-2010, 04:55 PM

I want to contract with with Genworth or Aegon to learn products. Which one has the best overall products especially for term life w/ benefits, is competitive and ease of underwriting. I pick these two because they have many life products. If someone is better then these two .... do tell. Only one.

Larry Tew · 07-30-2010, 05:53 PM

torri, there are scores of good companies with good products. It depends on what type of business do you want to be (captive / indy), your experience, your market, etc. Do you want to be a planner / problem solver or do you want to be known primarily as a product salesperson?

PICnic · 07-30-2010, 05:54 PM

I love Genworth. Their underwriting system, Genius, is not always genius. It takes time and they do have mistakes. At the end of the day, their rates are competitive and their offers are great. There are alot of products available, UL, LTC, annuities etc..

lqdirect01 · 07-31-2010, 01:43 PM

Both Genworth and Aegon have great products to offer; they each fit a different niche. From my experience Genworth is a little hard to deal with. It takes them on average 60 days from submission to approve business and they take forever to communicate.

GreenSky · 07-31-2010, 02:29 PM

Why would you have to pick one?

Steak might be the best meal most of the time, but occasionally chicken is desirable.

Rick

pdoyle · 08-02-2010, 01:20 PM

Genworth... hands down.

abbyh · 08-04-2010, 09:57 PM

I have been writing with Gen for over a year. I did love their UL product. Easy illustration that is not much different from the term product. In the last 6 weeks they have either uprated or declined 4 cases that I had to turn around and re-write with another carrier. Their underwriting is complete hell. They APS everything from the last decade and then some. They take so long that my clients almost forget they applied except for the endless requests for more information. I am not writing one more piece of business with them. Prices are so competative but not worth it when they uprate and decline so often. I am even putting in the extra effort to move my UL cases to ING. (ING's application is a bear)

torri · 08-04-2010, 11:24 PM

"(ING's application is a bear)" ?

Is that a good or a BAD thing.

WinoBlues · 08-04-2010, 11:57 PM

Torri,

I think your answer is in Larry and Rick's post.

abbyh · 08-05-2010, 10:11 AM

ING's application is just really long and detailed, for the UL. I have all of my applications automated through ALISS except for the ING UL. I have to log on to their site, and use their apps. It is just long and requires a lot of extra steps. But I do love ING's underwriting. And their illustration has a page that clearly defines: pay this, get this, for this long. Very nice. I

ING overall is probably my favorite carrier. Commissions may not be as high but they approve almost everything I submit and often time better than applied. They are also super fast. Just the opposite of GEN

Markingriffin · 08-05-2010, 10:26 AM

I'd pick Genworth over Aegon anyday.

torri · 08-05-2010, 11:40 PM

Thanks, for all the info. Both companies have many products. However, my niche is senior market, so Genworth seem to be the way to go. I am still shaping my market and would like to start a good company with 2 or 3 good products to master and push. Good products sale themselves. Built in benefits is a plus. Any other options?

WinoBlues · 08-06-2010, 12:07 AM

Originally Posted by torri

Thanks, for all the info. Both companies have many products. However, my niche is senior market, so Genworth seem to be the way to go. I am still shaping my market and would like to start a good company with 2 or 3 good products to master and push. Good products sale themselves. Built in benefits is a plus. Any other options?

Bull ****!!! Sorry, but that is crap. There have been Great products out there that sit on the shelves. Salesmen sale them, or they stay on the shelves. I call bull ****!

Also, there has been a boat load of crap sold by good salesmen. Bernie Madoff

VolAgent · 08-06-2010, 08:01 AM

If good products sold themselves, we all would have been watching Betamax back in the day, and not VHS.

ims01 · 08-06-2010, 08:30 AM

It depends on which Aegon company you are talking about. Aegon is a holding company. They own Trans Family, TIGG, Western Reserve, Monumental, etc.

None would be my primary choice for the Senior market. Genworth and Trans Family both have ULs that can have a face as low as $25,000, but both are full med. In the Senior market, your primary product should be non-med. I think you better find an IMO that specializes in what you want to do and go with what they suggest.

arnguy · 08-06-2010, 01:44 PM

Torri and Wino, you must quit using the noun sale in lieu of the verb sell. That's today's grammar lesson.

WinoBlues · 08-06-2010, 02:14 PM

Originally Posted by arnguy

Torri and Wino, you must quit using the noun sale in lieu of the verb sell. That's today's grammar lesson.

Note the time of my slured rant. That and my handle being Wino.

I should get a pass.

>>That's today's grammar lesson.

If that is the only one for the day, the rest of the board will thank me for taking the bullet.