Perception vs Reality: Manhattan Life
I remember being scared of the dark as a young boy. My perception was that something could get me because it was dark in my room. The reality was that my room was just as safe in the dark as it was with the light on. My hope is to give some facts and history regarding Manhattan Life so you can feel comfortable in your representation of this carrier.
Manhattan Life is a sister company to Family Life, so let me explain the difference between the two, even though they share the executive leadership of David Harris. The perception is that the two are the same, but just like I perceived my dark bedroom being scary, not TRUE.
Family Life came into the marketplace with a very competitive rate and normal underwriting. However, the playing field had several Medicare Advantage plans exiting the market. Consumers were looking for great premiums, and agents were looking for a company paying full commission – both of which Family Life offered. That caused Family Life to experience very high claims losses.
Today, with Manhattan, we don’t see the Medicare Advantage plans disappearing after one year of being in the business. If they do exit, Manhattan Life will not pay full compensation – they only pay $25. Therefore, I don't see renewal rates repeating the situation that Family Life experienced.
We believe in Manhattan Life and the leadership of this company. They want to work with you, the agent, and are one of the most agent-friendly companies I have dealt with in my career.
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