Ever Heard of This? Old Reliable Life Insurance Co

[Guest]

I met a guy today who said he was an agent for Old Reliable Life Insurance Company up until about a year ago. It was the neatest set up I've ever heard of.

He said that they go around and collect premium from people's houses every month instead of sending them a bill. He would get to know people, it was almost like a milk route.

I'm not looking to work for them. I'd just never heard of them and found this to be a very intriguing way of doing business. Searched the forum, but couldn't find any threads about them.

 

[yellowbirdnj]

Yes, that's debit work. I did it for two companies and its very nice but it can have its drawbacks. Still better than having no book of business to start with.

 

[Jerard]

I met a guy today who said he was an agent for Old Reliable Life Insurance Company up until about a year ago. It was the neatest set up I've ever heard of.

He said that they go around and collect premium from people's houses every month instead of sending them a bill. He would get to know people, it was almost like a milk route.

I'm not looking to work for them. I'd just never heard of them and found this to be a very intriguing way of doing business. Searched the forum, but couldn't find any threads about them.

I've never heard of that company, either. But the practice of collecting premiums at the home is very old. I did it for a few years back in the early '90s. It's called Home Service or "debit" (ie: "running a debit"). I enjoyed it, you'd be almost like family to most of your customers and if you came around near dinnertime at least someone would tell you to grab a plate. Referrals were easy since they knew you well and trusted you. None of the teenagers would ever give you any trouble since since they knew better than to mess with mamma's insurance man. I had customers that I would never see. You'd pick up the premium from the envelope hanging on a nail on the porch...sign the book and leave. And it would always be there. My older brother used to be an agent for Independent Life and collected weekly. Those were the days....I had fun.

Was this a serious question? It's hard to believe you've never heard of this.

 

[Guest]

Was this a serious question? It's hard to believe you've never heard of this.

LOL... I've heard of it, but I didn't know it was still in practice. I just thought it was something the old timers would talk about 40 years ago. I just think its a neat idea that it still works this day in age.

Of course, I understand that they are targeting a very specific market.

I just thought it was interesting. With every new technological advance the art of selling insurance gets less and less impersonal.

 

[Jerard]

LOL... I've heard of it, but I didn't know it was still in practice. I just thought it was something the old timers would talk about 40 years ago. I just think its a neat idea that it still works this day in age.

Of course, I understand that they are targeting a very specific market.

I just thought it was interesting. With every new technological advance the art of selling insurance gets less and less impersonal.

The only companies that I'm aware of that still do collections are United and Columbian (I think). There are those time that I wish I could collect at the home...for at least one year.

 

[hammerken]

Transamerica Agency/Monumental was doing it last I checked. Depending on where you are it can be dodgy.

 

[shonceman]

The only companies that I'm aware of that still do collections are United and Columbian (I think). There are those time that I wish I could collect at the home...for at least one year.

There are some others, depending on the state. I think the OP is possibly referring to Reliable Insurance. They are the same company as United (they operate different companies for different states) and were recently acquired by Kemper. I'm seeing a resurgence in smaller home service companies, but most of the movement is with independent, non-captive companies who usually have a Final Expense side as well. For example, I write both Final Expense & home service through Liberty Bankers Life (through separate divisions of the company). Columbian operates this way as well.

 

[SWM]

My trainer at Metlife was Italian. He said that they would have entire high rise apt/housing buildings full of Italian families assigned to them to debit collect from. He further related that is was customary for the Italians to drink a glass of wine when you stopped by to collect the premium and to refuse was rude. He learned real quick to start at the top floor, because by the time he got back to the first floor he was too drunk to walk.

 

[FE4U]

My trainer at Metlife was Italian. He said that they would have entire high rise apt/housing buildings full of Italian families assigned to them to debit collect from. He further related that is was customary for the Italians to drink a glass of wine when you stopped by to collect the premium and to refuse was rude. He learned real quick to start at the top floor, because by the time he got back to the first floor he was too drunk to walk.

Wow! That makes me want to be a debit agent in Italy!!!

 

[Jerard]

Wow! That makes me want to be a debit agent in Italy!!!

Me too. Too bad I can't drink anymore.