Insurance Agent Forum

[brownphillips]

I am a P&C agent with about 1200 clients. I am looking to sell term life insurance to my agency clients. We get asked about it all the time.

What are the best companies as far as back end support that still pay good commissions.

Thanks for any help.

[HomeService]

Look at all the usual suspects like AIG and Mutual of Omaha and stuff like that.

[xrac]

You could look for a FMO that can do term quotes with a number of companies. This will give you more weapons in your arsenal and make you more competitive depending upon the individual situation. The important things I would look at besides payout is how long does it take to do underwriting and to issue a policy.

[bobson]

Originally Posted by brownphillips

I am a P&C agent with about 1200 clients. I am looking to sell term life insurance to my agency clients. We get asked about it all the time.

What are the best companies as far as back end support that still pay good commissions.

Thanks for any help.

First of all, if you are just writing term life and you do not plan on expanding into other life products, I'd first go to your P&C companies and see which one's offer life insurance. While in general P&C life companies may not be the best option for life, if you are already an agent for the P&C side, adding the life can be lucrative.

Some people will tell you you have to have the cheapest term rates to compete. That is hogwash especially since you are being asked for term life quotes. You want to offer a good product at a fair price. Most P&C life companies fit the bill perfectly.

[golfnut]

Brown, I am just down the road from you in Pinehurst. I do everything except P&C, so message me and I can tell you about the companies/brokerages I use. I am big in medicare supplements and annuities, so if you need assistance moving those products to your clients, let me know.

[MAPDJim]

You might want to have a discussion with these guys. I just started with a P&C agency that uses these guys. They've got about 30 companies listed in their quote software for term. Ask for Ryan. They're in CT but cover the entire country.

The Himmelstein Company

[fostever]

You can get 100% commission with AIG. It has an A++ Excellent rating with AM BEST and usually comes in first for preferred class. Other good ones are West Coast Life, Banner, ING, among others. There is a wholesaler in Texas who is very helpful in getting you top contracts and the right fit depending on health conditions and good smoking rates. Just e-mail me.

[hamben]

PM me and I can get you set up between 115% to 120% depending on the company.

[rocketboy]

I would really like to know the companies with the highest commission rates like 115-120%. I am really looking for the best companies to work with.

[hamben]

I have several of the top term companies in the business (all A+ or better) that I can get you with.

I can not post there name’s and commissions on a public forum because I could lose my contracts with the carriers.

If you are interested send me a pm with your contact info and I will get hold of you.

Thanks

[Corey]

Originally Posted by xrac

You could look for a FMO that can do term quotes with a number of companies. This will give you more weapons in your arsenal and make you more competitive depending upon the individual situation. The important things I would look at besides payout is how long does it take to do underwriting and to issue a policy.

+1, well said.

With regards to underwriting, having more carriers at your disposal will be of great help when you run into impaired risk cases or clients with certain medical conditions.

Also, I would recommend looking into carriers that offer a telephone application process. It will save you a lot of time in the long run.


One more thing:

Sometimes what appears to be a simple term sale, can actually develop into a nice permanent case. Keep your options open and work with a company that can help you recognize this potential.

[brownphillips]

I am meeting with local AIG rep this week.

Any question or concerns that I definately need to address?

Thanks for all the feedback so far!

[Corey]

Originally Posted by brownphillips

I am meeting with local AIG rep this week.

Any question or concerns that I definately need to address?

Thanks for all the feedback so far!

There are a few I can go over with you. Can you shoot me a quick email with your contact details? Email is in my sig.

[gradyinsurance]

I would recommend Life Investors-Transamerica, Fidelity Life, and maybe Genworth (if you deal with a lot of younger clients). I live between Kinston and Goldsboro, so if I can be of any assistance, (i.e. give you some contact info, etc.), shoot me a line.

Good Luck,

Dave