AMBA - Long Term Care

peace

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I've been offered a position with this company. They sell LTC and other products to retired teachers and other state workers by working with related associations.

Coupla questions - Do you guys know anything about this company and what do you think about leading with long term care? I really like the LTC product but I'm a little concerned about it being my primary product.

Do you guys have any input? Thank you!!
 
I've been offered a position with this company. They sell LTC and other products to retired teachers and other state workers by working with related associations.

Coupla questions - Do you guys know anything about this company and what do you think about leading with long term care? I really like the LTC product but I'm a little concerned about it being my primary product.

Do you guys have any input? Thank you!!



It depends upon which company this agency requires you to sell. If they are selling B+ rated companies, you're going to lose a lot of sales to anybody who has sense enough to talk to another agent and get comparisons.

If they sell some companies that are consistently priced much higher than other companies, the 5% or 10% discount, won't make any difference and you'll be uncompetitive and you'll lose a lot of sales that way.
 
Transamerica...can anyone give me the pros and cons of writing Transamerica. I am not currently appointed with them. I gave them a look when they started LTCI again a while back. I didn't see any reason to add them to my arsenal. They do say they have many rate classes, but I have been told that the underwriting is just as the other companies for the most part. Accepted or declined. I would like to know if I am missing something with this company.
 
I've been offered a position with this company. They sell LTC and other products to retired teachers and other state workers by working with related associations.

Coupla questions - Do you guys know anything about this company and what do you think about leading with long term care? I really like the LTC product but I'm a little concerned about it being my primary product.

Do you guys have any input? Thank you!!

1. What does AMBA stand for? Not sure who they are based on that acronym.

2. What do you mean by your "primary" product? (are you captive, etc.?)
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Transamerica...can anyone give me the pros and cons of writing Transamerica. I am not currently appointed with them. I gave them a look when they started LTCI again a while back. I didn't see any reason to add them to my arsenal. They do say they have many rate classes, but I have been told that the underwriting is just as the other companies for the most part. Accepted or declined. I would like to know if I am missing something with this company.

The underwriting with them is nothing special. They don't use the 6 underwriting classes like it appears they could, IMO.
 
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Bill,
For those in generally good health, TransAmerica will usually be one of the least expensive companies out there. In NY we still have TransCare. They are rolling out TransCare Enhanced in a number of states. Enhanced is more expensive but offers a shared-care option, which TransCare does not.

Very competitve benefit-wise. 0-day Elimination Period for home care is standard. 40% spousal discount for couples but no spousal discount for a single applicant who is married. Therefore, TransAmerica is not a good option for singles.

If you're not Appointed with them, you should take a look at their product. Underwriting is average at best and my advice would be to submit everything at Standard.
 
AMBA is an acronym for Association Member Benefits Advisors and they are out of Austin, TX. Main products are LTC with Transamerica, WL with MoO, Cancer Supps with Great American using acronym of UTAIC, a ground and air thru MASA, annuities thru Great Am and also working with MoO with Med Supps. Primarily work with retired educators and state associations. Its a good gig for newbies as they hold your hand. Only down side from what I hear is working with a finite number of leads, so mailings are repetitive. Like any company of its nature, lots of turn and burn.
 
Association-based selling has got to be the worst way for a producer to make it in LTCi.

The commissions are reduced.
The renewals are lousy.

The direct mail and other marketing expenses are just as high, if not higher, than other marketing methods.

And, you still need to sell each individual case.

Employer-based LTCi sales is a much better way to go.
 
I've been with AMBA for 8 yrs. We write LTC with either Transamerica or Mutual of Omaha. 2 of the best LTC companies out there in my opinion and they get an association discount on top of their regular rates.

The association marketing has served me well opening lots of doors and providing credibility. The lead generation is paid for by the managers and the company...the agents don't pay for leads. It is captive and personally I'd rather sell 5-10 LTC policies per week at a slighty lower payout than a couple a week at a higher payout. It's all about a volume of business for me and helping as many clients with LTC as possible.

Hope this helps!
 
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