Eldercare from Hot Springs Ark??
- Thread starter BidnitMain
- Start date
Good morning everyone! So glad to be informed of this forum. My name is Miranda and I am with Eldercare Insurance Services in Hot Springs, Arkansas. We are an FMO/IMO and service agents in all states. Please send me a private message me if you are interested in a comprehensive account of who we are and what we do for agents. Have a wonderful day!
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Thank you so much for the kind words!
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Thank you so much for the kind words!
- 6,992
Wanted to bump this. I've got a buddy of mine that just got licensed in Hot Springs and is starting with Eldercare next week.
They sound like they are focusing on Supps mainly from the carriers he mentioned. He has someone who is going to mentor him, but I was trying to get some more questions answered.
Does anyone know if they offer releases?
He mentioned they get paid directly from the carriers with the "big name companies" (his words) and from Eldercare by the "smaller companies." Are they assigning commissions to Eldercare?
What kind of contracts do they offer? What about renewals?
My buddy is 20 years old and clueless as to what to even ask or look for. I just want to make sure he's working with a reputable group.
Sent from my iPhone
They sound like they are focusing on Supps mainly from the carriers he mentioned. He has someone who is going to mentor him, but I was trying to get some more questions answered.
Does anyone know if they offer releases?
He mentioned they get paid directly from the carriers with the "big name companies" (his words) and from Eldercare by the "smaller companies." Are they assigning commissions to Eldercare?
What kind of contracts do they offer? What about renewals?
My buddy is 20 years old and clueless as to what to even ask or look for. I just want to make sure he's working with a reputable group.
Sent from my iPhone
I don't know anything about them, but it sure sounds like he's assigning commissions for the "smaller" companies.
- 6,992
I spoke with Jeremy at their home office. Sounds like a decent place. They have a broker and a captive side.
They offer street on the broker and then really nothing on leads. He said they could mail by 1000 for $420 so pretty good I guess. Not too different than either other brokerage with little or no support.
The Captive side is different. They sell mostly on the phone and provide all the leads. RNA was at 70% and Cigna Supps at 14% with normal renewals.
Vested after 2 years and 200 policies.
But on the Captive side they train, pay for the leads and all the back office support. Didn't sound like a horrible deal for a newbie with no capital. Commissions are assigned on the Captive side.
Selling Supps might not be that bad and it sounds like that is their main focus.
Sent from my iPhone
They offer street on the broker and then really nothing on leads. He said they could mail by 1000 for $420 so pretty good I guess. Not too different than either other brokerage with little or no support.
The Captive side is different. They sell mostly on the phone and provide all the leads. RNA was at 70% and Cigna Supps at 14% with normal renewals.
Vested after 2 years and 200 policies.
But on the Captive side they train, pay for the leads and all the back office support. Didn't sound like a horrible deal for a newbie with no capital. Commissions are assigned on the Captive side.
Selling Supps might not be that bad and it sounds like that is their main focus.
Sent from my iPhone
Just wanted to thank everyone who has chimed in over the last few months about our organization. As previously stated, we are an FMO located in Arkansas and have been since 1982. We are happy to answer any questions about the agent support we offer for both our career and brokerage departments, so please give us a call or PM me for more information.
Do you give releases freely?
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- 1,159
That's high praise from Craig Ritter, unless he says that all FMOs are great.
There have been a few previous threads here about them. I recall at least one person associated with them not coming across very well. I can't remember whether or not he worked for the home office, was captive or what.
In case someone else hasn't posted it, this is their broker website Eldercare Insurance ServicesEldercare Insurance Services
I have this bookmarked as being their captive site Eldercare Insurance - Medicare Supplement
When I first went indy, an old manager of mine (who works for a major MA carrier) referred me to Eldercare for Supp contracts. Evidently that's who he used when he was indy around 15-20 years ago.
I've shopped around in the past and I don't believe I've ever been offered a higher contract for any Med Supp carrier. Some of the big names have offered me lower contracts and required proof of production to get a higher contract. So as Hoosier Life said, you're going to at least get street level. Maybe you could get a higher contract somewhere if you can show a lot of production. Commissions are not assigned on the broker side.
I think they are direct for some carriers (MOO maybe?) and may be under Amerilife or AIMC for some others. I'm not sure about Amerilife, but I know that they were under AIMC for some of the "no name" non rated carriers that have hit the market in the past, such as Admiral. (If I'm not mistaken, some of those carriers have basically been exclusive to AIMC.) At one point, they were under AIMC for Mutual of Omaha (MOO) but I'm pretty sure I was told in recent years that they are now direct. I was contracted through them for Family Life a number of years ago and the upline for that was also AIMC.
Until about 5 years ago, they were very old school, focusing on Supps, with one of their marketing reps telling me that "Our people don't use that" when I requested to get set up with MOO's e-app. (Some of that is because most of their agents were apparently very old school.) Now they focus on MA as well as Supps and have embraced technology. I've found some of their conference call training to be informative and more or less comparable to what I've seen from some other better known FMOs. Beyond this, I'm not aware of any training that they have for brokers. (10 years ago, they basically had no support at all WRT marketing, training, etc.) They have some online tools for brokers, but I don't know how it compares to others.
If someone really wants the lowdown on the broker side, you might want to call them and ask for Steve Brooks. I think his title is Marketing Director. Others who have worked under him have come and gone, but Steve seems to be the constant.
I'm not sure about their current release policy. I couldn't get a release ca. 2008. I had gone captive with a life insurance company that required me to cancel all other contracts that I had. It didn't take long for me to realize that I'd made a mistake. This was before I knew anything about releases. When I called Eldercare back to try to get my MOO contract reinstated, I was told that I had to wait 6 months. (I'm not totally sure if I was trying to go through a different FMO at first, but I'm pretty sure I was just trying to get a contract with Eldercare again. Even if I had tried to go with another FMO at first, I don't know why I would have been told that I couldn't even go with them again.) I think their MOO contract was under AIMC at the time, so maybe that had something to do with it. I don't think I had any advances that they would have been liable for at that time.
There have been a few previous threads here about them. I recall at least one person associated with them not coming across very well. I can't remember whether or not he worked for the home office, was captive or what.
In case someone else hasn't posted it, this is their broker website Eldercare Insurance ServicesEldercare Insurance Services
I have this bookmarked as being their captive site Eldercare Insurance - Medicare Supplement
When I first went indy, an old manager of mine (who works for a major MA carrier) referred me to Eldercare for Supp contracts. Evidently that's who he used when he was indy around 15-20 years ago.
I've shopped around in the past and I don't believe I've ever been offered a higher contract for any Med Supp carrier. Some of the big names have offered me lower contracts and required proof of production to get a higher contract. So as Hoosier Life said, you're going to at least get street level. Maybe you could get a higher contract somewhere if you can show a lot of production. Commissions are not assigned on the broker side.
I think they are direct for some carriers (MOO maybe?) and may be under Amerilife or AIMC for some others. I'm not sure about Amerilife, but I know that they were under AIMC for some of the "no name" non rated carriers that have hit the market in the past, such as Admiral. (If I'm not mistaken, some of those carriers have basically been exclusive to AIMC.) At one point, they were under AIMC for Mutual of Omaha (MOO) but I'm pretty sure I was told in recent years that they are now direct. I was contracted through them for Family Life a number of years ago and the upline for that was also AIMC.
Until about 5 years ago, they were very old school, focusing on Supps, with one of their marketing reps telling me that "Our people don't use that" when I requested to get set up with MOO's e-app. (Some of that is because most of their agents were apparently very old school.) Now they focus on MA as well as Supps and have embraced technology. I've found some of their conference call training to be informative and more or less comparable to what I've seen from some other better known FMOs. Beyond this, I'm not aware of any training that they have for brokers. (10 years ago, they basically had no support at all WRT marketing, training, etc.) They have some online tools for brokers, but I don't know how it compares to others.
If someone really wants the lowdown on the broker side, you might want to call them and ask for Steve Brooks. I think his title is Marketing Director. Others who have worked under him have come and gone, but Steve seems to be the constant.
I'm not sure about their current release policy. I couldn't get a release ca. 2008. I had gone captive with a life insurance company that required me to cancel all other contracts that I had. It didn't take long for me to realize that I'd made a mistake. This was before I knew anything about releases. When I called Eldercare back to try to get my MOO contract reinstated, I was told that I had to wait 6 months. (I'm not totally sure if I was trying to go through a different FMO at first, but I'm pretty sure I was just trying to get a contract with Eldercare again. Even if I had tried to go with another FMO at first, I don't know why I would have been told that I couldn't even go with them again.) I think their MOO contract was under AIMC at the time, so maybe that had something to do with it. I don't think I had any advances that they would have been liable for at that time.
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I have my GTL contract through them, picked it up last year sometime. Eldercare does have a pretty cool T65 mapping app that you can use on your phone. Pretty handy if you are the type of person that doesnt mind door knocking for medsupps. I dont have any supp contracts with them as of now. I know a couple agents who do have and I havent heard anything bad.
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