The Good, Bad, and Misleading
Agent (Current Employee) – Southeast – April 28, 2013
Strong company. Great Guaranteed Issue Life product. Good training on how to present the basics of Medicare to the senior market. A big part of their pitch, though, is how to "dismantle" an MA plan for anyone considering those. Also, they are very exaggerating of other supplement companies rates and inflation. The 2 big issues I have are:
1) As someone that is AHIP certified (although I prefer supplements as a solution), I am amazed that they can get away with the way they present the MA options. The way they "explain" those plans and the benefits are, in most cases, very inaccurate. Once the bad information is presented, it seems like the legend of their "evilness" grows among agents, and in the presentation to prospects. Always felt that the supplement agents should be held to the same compliance standard as those with the AHIP certification, given that they actually try to explain certain MA features and benefits, while mentioning MA companies by name.
2) The new agents are told that all other supplements increase by around 20-25% each year. In some cases, that may be true, but after enough agents in the office hear the "line", it simply becomes part of the presentation to prospects as a "norm" for all other companies but Phys Mutual. Given above average premiums, need to be able to sell value and company rating.
Strong company rating. Good GI Life product.
Feel like employee with mandatory conference calls, Training calls are less training and more cheering about beating another division, Private conversations among agents may not be private, Managers have a way of having extra sets of ears in and out of the office, Lot of distrust after awhile. In terms of leads, many time multiple agents will get the same leads and toes are stepped on in the field, Expect to have deals you are working on to be closed by other agents.