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I am looking to get appointed with some LTC carriers and need a recommendation for an MGA. I am in south Florida. Thank you.
Please excuse my ignorance. What is a Mga?
Ignorance Excused.
An MGA is your active Upline for these carriers.
Most LTC carriers distribute their product through MGAs (Managing General Agents) which contract sub-agents to sell the product.
I am looking to get appointed with some LTC carriers and need a recommendation for an MGA. I am in south Florida. Thank you.
Find an MGA with Mass Mutual, Genworth, Transamerica, Omaha, and John Hancock at least. You will need Mass Mutual the most.
Why would I need Mass Mutual the most?
If you wish to offer your clients the best valued policy from an A++ rated mutual company that has never raised premiums one cent on active in-force business in any State you will want Mass Mutual.
Otherwise, write policies through other carriers.
Clients do care about financials. If the same benefits cost the same premium with Mass Mutual, Omaha, Genworth and Transamerica and you give the client the ratings and the rate increase history Mass Mutual will be the logical choice. And if you do not even give the client the option with a company like Mass Mutual you run the risk of another agent doing so and losing the client altogether.
In a situations in which there are comparable premiums I agree. Far more often than not, this is not the case and MassMutual is considerably higher. Stating anyone needs them the most is overstating the situation completely.