This Page has Tips, Hot Topics and Generally Things to Know to Help Your Business!
- There are differences when it comes to Term and UL carriers beyond the price. Go beyond "cheap" and find out more more about "value". Please set aside 5 to 10 minutes and let's talk. It will save you and your clients time and $'s.
- Agent be aware: If your clients have policies with Met Life (now Brighthouse), VOYA (used to be ING) or Genworth (used to be First Colony) please be remember, these carriers no longer write new business and have limited conversion options which are priced accordingly. (The premium will have you both saying "you have got to be kidding!") It is our experience that these carriers have made the term conversion process extremely difficult and in some cases nearly impossible to do administratively and premium price wise. And if they have their way, you as the agent are most likely not going to be involved or allowed to service the policy. If your clients are insurable and can be re-written it is very likely in their best interest that you make contact with them and provide options. Even if they are medically rated on a new GUL in many cases be better than their conversion option from these carriers!
- If you write an app with American National to be paid via bank draft you must submit a fully completed and signed eft form with the app or no policy will be issued!
- Very Important: Personal policy premiums should be paid from personal accounts & business owned policies should be paid from business accounts.
- Seller Beware! With term rates continuing to battle for "first place" I have been seeing some new term plans that are restricting conversion periods and or significant conversion product limitations for clients. Some carriers won't even send out a paper policy anymore for the cheap term rates! Please be aware of what you are selling and how it may impact your clients in the future. If you are not sure,ask us. It's what we do.
- LIMRA's Anti Money Laundering Training has an updated training course posted for most agents to complete. Please be sure to keep your training up to date so that your contracts are not terminated for non compliance. Click here to sign and see if you are up to date or need to complete new training.