Life insurance – no witnesses please

Alston · 09-07-2007, 06:26 PM

I'm looking to get appointed with a few strong life insurance carriers that are both competitively priced and that will allow me to write a policy without witnessing it.

I've been able to write a fair amount of health insurance business using a combination of online, mailed and faxed applications. I've brought my 22-year old son into the business and would like to expand into life insurance.

I've run across a couple of companies that have online applications, but the rates are horrid.

I just completed appointment paperwork with West Coast Life. They appear to meet my criteria.

Does anyone know of any others?

GreenSky · 09-07-2007, 06:44 PM

I use Bisys - they are a general agency and have a program called "life solutions."

You enter information about your client into their site (very basic stuff) and they take if from there. They call the client to complete and application. The paramed gets it signed. Policy is mailed to you for delivery and commission.

You do get a small "haircut" on commission as some people on this board have said. But to avoid any of the work, it's worth it.

Rick

al3 · 09-07-2007, 06:55 PM

Originally Posted by GreenSky

I use Bisys - they are a general agency and have a program called "life solutions."

Will Bisys deal with a small-fry? I called them about a month ago and no one there seemd to know how to get me registered. They are a huge company and I got the impression they only wanted the 'large' brokers.

I'm looking at CPS and LifePro as GAs for life. Can't make up my mind. Maybe I'll register with both!

Al

somarco · 09-07-2007, 08:13 PM

Agency Services Incorporated

MHart · 09-08-2007, 05:35 PM

http://www.bestinsurancecarriers.com/

Mr. Bill · 09-08-2007, 09:31 PM

The only thing I know about LifePro is they are Doug Andrew's FMO for the Missed Fortune concept. With that, they absolutely positively will take money beyond their override to help you close business. What their haircut would be in this case I don't know.

What are the haircuts on Agency Services Incorporated and best insurance carriers?

The worst for me was when my old agency ordered a 2nd paramed on a term case and it was the same person who was told to go out. I never wrote business with them again.

somarco · 09-09-2007, 10:57 AM

I have no idea what Agency Services takes as their cut and it doesn't matter anyway. I can't pay my bills with their override.

They give me 90 - 100% contracts and don't demand a lot of production. For the $5000 or so in AV I do with them I am satisfied.

Winter · 09-10-2007, 06:03 PM

Originally Posted by Alston

I'm looking to get appointed with a few strong life insurance carriers that are both competitively priced and that will allow me to write a policy without witnessing it.

I've been able to write a fair amount of health insurance business using a combination of online, mailed and faxed applications. I've brought my 22-year old son into the business and would like to expand into life insurance.

I've run across a couple of companies that have online applications, but the rates are horrid.

I just completed appointment paperwork with West Coast Life. They appear to meet my criteria.

Does anyone know of any others?

Your question is about writing without having to witness. As mentioned, Bysis has a process for doing that with some very competitive carriers. As noted, though, the policy still must be delivered so if your true goal is to not have to see the client then that is another matter. As you indicated, there are companies that will do it totally over the phone, non-med policies, but the rates are stratospheric.

Winter

GreenSky · 09-10-2007, 09:01 PM

Originally Posted by Winter

As noted, though, the policy still must be delivered so if your true goal is to not have to see the client then that is another matter.

I don't recall any carrier stating that a policy must be delivered in person. I do it by mail much of the time. I mail everything to them and ask for the delivery receipt by fax (ahead of time if I can get it).

Rick

Winter · 09-10-2007, 09:21 PM

Originally Posted by GreenSky

I don't recall any carrier stating that a policy must be delivered in person. I do it by mail much of the time. I mail everything to them and ask for the delivery receipt by fax (ahead of time if I can get it).

Rick

State regulations may or may not require it. I live in a state where they do.

Winter

LGilmore · 10-09-2007, 01:53 PM

Don't most policies require a blood & urine test? There's your witness. These Rn's that do these tests confirm the person as well as ask additional health questions. I haven't had a carrier complain about "being" there as most now also compete with me with their own online applications. Like they witness themselves

I guess it would depend on your state of license.

lifeinsuranceguy · 11-01-2007, 05:58 PM

There's quite a few carriers that are very competitive on term rates that have 2 page applications. A+ rated as well. Also two companies I have offer the non-med policies up to 300k, real nice to have for quick issue.

If you really want to feel out a GA to get connected with, call a smaller shop that actually cares/wants your business. That's what I did and they have all the same advantages of Bisys. Online statusing, over 35 carriers to work with, good case managers and case managers that just work on the bigger cases, product and underwriting knowledge which is key for your placement ratio and an advanced sales/estate planner in house.