- 477
I do a lot of business with Ohio National but unless a company deals direct I will not give them any business unless it is sub standard.
Oh how Little I Know
- Thread starter SuperWoman
- Start date
I do a lot of business with Ohio National but unless a company deals direct I will not give them any business unless it is sub standard.
TomZack
Super Genius
- 100
Well again....
I see that there are 2 takes on this.
This is funny....I have Ohio National but a client wanted a GUL so, thanks to help here (in part) I'm going with an IMO for North American L&H.
Anyway, still learning everyday.
Thanks to both for your input!
I see that there are 2 takes on this.
This is funny....I have Ohio National but a client wanted a GUL so, thanks to help here (in part) I'm going with an IMO for North American L&H.
Anyway, still learning everyday.
Thanks to both for your input!
You could use Midland (NA's sister company) without an IMO for this case.........
TomZack
Super Genius
- 100
So would there be production quotas to go direct with them?
No. But you'd likely make less than writing North American unless you have a solid contact with proof of production.
- 10,313
If an agent wants to give all clients the best policy for their situation, they will eventually need a carrier that is IMO only.
If an agent only contracts with direct carriers, there are going to be situations where the client could have received a better value from a different policy.
The great thing about this business is that we are free to run it how we choose. But personally, I could not justify limiting myself to just a few carriers when there are cases which are clearly better off with IMO carriers.
If I was the client, I could care less if the agent has to go through a middle-man. I would want the best possible product for my situation. And I treat my clients how I would want to be treated.
Also, there are some good quality IMOs out there that are able to provide value, no matter what level you are at as an agent. Ive had terrible experiences with both IMOs and with direct Carriers. If an agent thinks direct contracts are always superior from a service aspect, I would guess that agent does not do a large amount of life business. ON has screwed up royally on some of my cases in the past. Same with Mass. I have had much better service from LFG over the years than I have had from those two. Not to even mention the UW issues you face with many direct carriers vs. IMO carriers.
If an agent only contracts with direct carriers, there are going to be situations where the client could have received a better value from a different policy.
The great thing about this business is that we are free to run it how we choose. But personally, I could not justify limiting myself to just a few carriers when there are cases which are clearly better off with IMO carriers.
If I was the client, I could care less if the agent has to go through a middle-man. I would want the best possible product for my situation. And I treat my clients how I would want to be treated.
Also, there are some good quality IMOs out there that are able to provide value, no matter what level you are at as an agent. Ive had terrible experiences with both IMOs and with direct Carriers. If an agent thinks direct contracts are always superior from a service aspect, I would guess that agent does not do a large amount of life business. ON has screwed up royally on some of my cases in the past. Same with Mass. I have had much better service from LFG over the years than I have had from those two. Not to even mention the UW issues you face with many direct carriers vs. IMO carriers.
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TomZack
Super Genius
- 100
Well....
Scagnt83 Thanks for the passionate clarification. Seeing as my own philosophy is quite the same as yours ( I entered this business to truly help others while being able to earn a living at the same time), I think the debate is ended.
Those who are only interested in the best commission or volume perks - not working in the best interests of their clients are what helps give the industry a bad name. Understand, I am NOT casting aspersions on anyone and most certainly not anyone on this thread - But I want to do the best for my client.
Along those lines...
A new colleague just came back from an ON campus experience/training and said that even the top ON producers there have strong relationships with other carriers.
Thank you again for your response. It helps me figure things out and in a way that I am more comfortable (and more knowledgeable).
Much obliged.
Scagnt83 Thanks for the passionate clarification. Seeing as my own philosophy is quite the same as yours ( I entered this business to truly help others while being able to earn a living at the same time), I think the debate is ended.
Those who are only interested in the best commission or volume perks - not working in the best interests of their clients are what helps give the industry a bad name. Understand, I am NOT casting aspersions on anyone and most certainly not anyone on this thread - But I want to do the best for my client.
Along those lines...
A new colleague just came back from an ON campus experience/training and said that even the top ON producers there have strong relationships with other carriers.
Thank you again for your response. It helps me figure things out and in a way that I am more comfortable (and more knowledgeable).
Much obliged.
Not to even mention the UW issues you face with many direct carriers vs. IMO carriers.[/QUOTE]
This right here. I use to have that direct carrier mentality as well. But an IMO ain't all that bad. A good IMO knows what their carrier UW's are looking for so they can tell you which carrier will work for your case or what to note on app before you send it in. Some may even have an in-house underwriter.
This right here. I use to have that direct carrier mentality as well. But an IMO ain't all that bad. A good IMO knows what their carrier UW's are looking for so they can tell you which carrier will work for your case or what to note on app before you send it in. Some may even have an in-house underwriter.
TomZack
Super Genius
- 100
Thanks to Tahoe Ray as well. All input is valuable and appreciated. Will consider your thoughts and advise, too.
- 477
If you leave an IMO what happens to the business you have written thru them? Can you call the company and service it? In other words who owns the business you or the IMO?
As far as competitive products I am pretty sure the companies I represent are very competitive that being said I do some business with Lincoln and have been doing so since 1994.
My biggest problem with IMO's is how they think they own you by not allowing you to contract with that carrier for 6 months if you leave them. I do realize you can dual contract with some companies but who in the he$$ do they think they are. If you do not require training or leads they should be thankful you are giving them business. I do agree you may need an IMO for hard to place cases or for a better rating. I have found Lincoln is very good with their underwriting I placed two cases last year one would have been a table B and one a reject with ON, I got them both issued with Lincoln standard
As far as competitive products I am pretty sure the companies I represent are very competitive that being said I do some business with Lincoln and have been doing so since 1994.
My biggest problem with IMO's is how they think they own you by not allowing you to contract with that carrier for 6 months if you leave them. I do realize you can dual contract with some companies but who in the he$$ do they think they are. If you do not require training or leads they should be thankful you are giving them business. I do agree you may need an IMO for hard to place cases or for a better rating. I have found Lincoln is very good with their underwriting I placed two cases last year one would have been a table B and one a reject with ON, I got them both issued with Lincoln standard
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