- Report: #646033
Complaint Review: Liberty National - Birmingham Alabama
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Author Confirmed
Why?
Liberty National
2001 3rd Ave S Birmingham, Alabama, United States of America
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Tell us has your experience with this business or person been good?
Liberty National Do not work for this company Statewide, Alabama
First of all, Liberty National limits the amount of upfront money you can receive off any one policy to $300. That means if you got $1600 worth of commissions the most they will pay is $300. Other companies will pay you a higher commission as in 75% instead of 65%. They will give you 75% of the 75% which figures $1384 rather than $300. The other $461 goes into your sales account with other companies. Liberty puts 1300 in a sales account.
Secondly, their underwriting stinks. Every prospective insured you write has to do a telephone interview. This is not the case with other major carriers. Also a diabetic that is insulin dependent has to be issued a modified life policy. That means the death benefit is not payable until the 3rd policy year. I have worked in the past for a company that would rate the policy for insulin dependent not make the insured wait until the 3rd policy year to get the death benefit.
Thirdly, their prices are NOT competitive at all!!! If you market to the upper middle income and they want to price compare, you just can't compete with other carriers and I am talking about A+ rated companies.
Another thing is do you ever wonder why they are constantly recruiting? Unit managers make bigger bonuses off NEW agents. Once you have been there I think it is 10 months or maybe it is a year now they don't get paid much off of you anymore. Ask the classroom teacher at Jefferson State who teaches the insurance class which company has the most students. The majority are Liberty National students.
I have been in the business almost 20 yrs spent the last several doing health insurance, but do to healthcare reform, I had to get back into life insurance. I am just sorry I did not read their contract carefully or know what the premiums they charged.
