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  • 6 Jun 2024 2:56 PM | Anonymous member (Administrator)

    RALEIGH, NC, May 2024 – The United Farmers Agents Association (UFAA) is pleased to announce its new collaboration with IMI Association Executives (IMI), a firm that provides a full-suite of management services to nonprofits and professional associations of varying size and industry...

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  • 26 Apr 2024 11:39 AM | Meredith Houston (Administrator)

    On Tuesday, the Federal Trade Commission published its long-anticipated, final rule seeking to ban non-compete agreements in the United States.  The FTC claims non-competes violate Section 5 of the FTC Act, which makes “unfair methods of competition in or affecting commerce … unlawful.”

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  • 4 Aug 2023 11:22 AM | Meredith Houston (Administrator)

    From a member agent:

    "FIGFCU have had a data breach.  Many agents are receiving calls which have the real FIGFCU phone number (spoofed).  The person says they are calling because they see possible fraudulent charges on your account.  They then list a few charges and say they were all denied.  Eventually they ask for your member number and then they gain access to your account and steal money.  The person who called me had all my information (cell phone number, address, birthdate, last 4 of SSN).  They also somehow added their cell phone number to my bank account (FIGFCU removed it).  I didn’t realize the call was fake until they asked for my member number.  Other agents gave their member number and had money stolen."

    For more information visit: FIGFCU Security Center Site

  • 12 Jul 2023 1:57 PM | Meredith Houston (Administrator)

    Tuesday, Farmers Insurance informed the state it was dropping home, auto and umbrella policies across Florida, potentially affecting tens of thousands of people. Read the article here.


  • 12 Jul 2023 1:43 PM | Meredith Houston (Administrator)

    Farmers Insurance has limited new homeowners insurance policies in California, joining other major national insurance providers. Click here to read the rest of the article.

  • 19 May 2023 1:49 PM | Deleted user


    Premium Amounts:

    Life insurance policies typically have higher premiums compared to long-term care insurance policies. This means that agents can potentially earn higher commissions from selling life insurance policies. However, it's important to note that higher premiums may also result in longer sales cycles and a smaller customer base. 

    Sales Volume:

    Long-term care insurance is a specialized product that requires a deeper understanding of long-term care needs and coverage options. There are state licensure requirements and required training or continuing education. As a result, the market for long-term care insurance may be smaller compared to life insurance. However, the demand for long-term care is expected to increase as the population ages and lives longer. Agents who specialize in long-term care insurance and can effectively target the right demographic may find success in this niche market.  

    Renewals:

    Life insurance policies often have longer durations, and agents can earn renewal commissions if the policyholders continue to pay their premiums. This can provide a passive income for the agent over the life of the policy. Long-term care insurance policies, on the other hand, may have shorter durations or limited renewal commissions, which could impact long-term profitability. 

    Cross-Selling Opportunities:

    Selling life insurance policies can provide agents with opportunities to cross-sell other insurance products, such as annuities, disability insurance, or health insurance. This can potentially increase the overall profitability for agents by leveraging their existing life insurance client base. This also applies to selling Long-term care policies as it can complement other insurance products such as life, health or annuities.   

    Market Demand:

    The demand for life insurance is generally higher and more widespread compared to long-term care insurance, as it addresses a broader need for financial protection and income replacement. Therefore, it can be relatively easy to find jobs selling life insurance. However, finding customer leads on one's own in a competitive market can be challenging. 

    Ultimately, an agent's success and profitability depend on their ability to effectively market, sell, and service the insurance policies they offer. Agents who understand the needs of their target market, have strong product knowledge, and provide excellent customer service are more likely to be successful and profitable, regardless of whether they primarily sell life insurance or long-term care insurance. 


  • 19 Dec 2022 4:23 PM | Meredith Houston (Administrator)

    Click HERE for a look at Zurich Insurance Group 2022 Half Year Financial Report.


  • 30 Nov 2022 12:57 PM | Meredith Houston (Administrator)

    Parry et al. v. Farmers Insurance Exchange, et al.

    On November 16, 2022, the court granted final approval to the proposed settlement between the Plaintiff class and the Farmers Defendants. Read the article here

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2020 Important News Updates


Zurich and Farmers MetLife Article     Independent Agent bulletin  UK Supreme Court Rules on COVID Claims

     


Farmers Insurance Mississippi Updates

 


     
                      
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United Farmers Agents Association

Address:
110 Horizon Drive, Suite 210
Raleigh, NC 27615
Phone: 919-459-2079
Email: office@ufaa.com
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