Friday, May 18th, 2012
Life Insurance Contracting
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So, is the norm now for most companies life insurance to allow 2 or 3 or more numbers of writing? I noticed that I have two numbers with most companies and three numbers with a couple of companies. This is the new standard?
by : magagent
Tags: Life Insurance Contracting
Readers Comments (6)
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With Life Insurance which is not normal, unless the company offers different products at different IMO.
Assurity spwl example, has a product that you must fill out another contract. So you could have two numbers if you have done both.
I have a physical with Assurity, AIG, Genworth, Banner, Prudential, and 3 different numbers with American National, United of Omaha.
Do you have a commercial entity that you assign your commissions, or you are a sole proprietor? If you have an agency, that would be why you have two numbers. Assurity does not allow double-contractors, unless I missed the memo.
Some carriers allow two or more authorities. However, most have a warning that the new contract can not be at a higher level than the existing contract for a period of time. This prevents predators recruiting.
Colombian problems different contracts for each of their division offices … Binghamton and Syracuse, depending on which product you are writing.
For example, IM is released in Syracuse and FE Bingamton (actually signed Atlanta GA).
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