Accident and Sickness-1st Question on Forum

Discussion in 'Life Insurance Forum' started by noel1993, Apr 4, 2015.

  1. noel1993
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    noel1993 Expert

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    My first question on the forum.
    I sell mostly health insurance plans and am seeing a huge need for supplement plans due to the high deductibles and coinsurance.
    Does any agent know of an accident plan with a sickness rider like combined insurance? Preferably with a short elimination period of 7 days or less. I am not sure if this exists minus combined insurance.
    If not, who has a good hospital plan (supplement)? Can it be a stand alone without ACA also?
    Thanks for any help you may offer.
     
  2. cowgoesMoO
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    cowgoesMoO Super Genius

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    Wrong forum, but I believe that IHC has what you're looking for. They also have a weak hospital indemnity plan, I don't think its legal to sell it without a MM in place though.

    I know that Assurant had a sweet rider called suite solutions that covered ER for accidents, and CI and a small disability, I don't know if you can get that stand alone....
     
  3. Lakshmi
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    Lakshmi Super Genius

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    Lots of companies do. Often though you will not see both accident and sickness together in one policy, at least not great coverage. I've always had to use two different policies within the same company.

    I just picked up SureBridge. They also have a decent dental and vision. They have one with accident and sickness together. I just won't be reviewing it much until tomorrow. So not sure of the ins and outs yet. Will try and remember to come back and post what I learn. From what I gather now it's decent.

    I'm going to a colleagues house tomorrow to familiarize myself with it.

    I've always used assurity CI, their Acciflex, and Colorado Banker has an accident that's decent. Assuritys CI though is for critical illness. Not Just minor sickness like say a gall bladder removal. I'm sure we will see more and more of these popping up.

    Golden rule has indemnity plans as does Assurant and IHC and just about any other health with the exception of Bx.
     
  4. Ron Van D
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    Ron Van D Guru

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    Mega Life and Health Insurance Company, along with its parent company HealthMarkets and sister companies, Mid-West National Life Insurance Company of Tennessee and Chesapeake Life Insurance Company ("Chesapeake"), have had countless complaints and lawsuits filed against them by individuals, groups and state insurance commissioners. Thirty-four states have issued fines against these companies along with their parent, HealthMarkets, Inc. after investigating the company's practices.

    I hadn't heard of Chesapeake. This doesn't appear good, though.
     
  5. agentinsure
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    agentinsure Super Genius

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    I just spoke with HM, I like their retail approach, always liked it as well with Mega, they certainly can sell. Their products were crap but other than that. But now Im beginning to see whats happening, they are selling health policies like anyone else with the low flat commissions, and there is no way they could perpetuate their MLM on those plans, BUT by introducing a portfolio of products that arent under the guise of ACA, as in Supp Products they can strong arm their clients into buying these all day long. By buying Chk they now have some 2nd tiered insurance paper they can use as well. Write some supp acc products, with gapping holes similar to the old mega heath plans, charge double and offer agents all sorts of deals. Now they can survive.

    Thats my guess, and Ill bet Im right on. Because when I interviewed with them the BIG push was the supp products, though we didnt go into the details of the products I assumed they would be the AG, Asurity, GTL variety, but now Im thinking these guys are pushing their own, they are crap and thats how they can squeeze so much cash out of it, and give it time, more complaints will follow
     
  6. Lakshmi
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    Lakshmi Super Genius

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    Took awhile to come back in here...been busy. Sorry. Chesapeake (SureBridge), I found the plans to be cheap, and not that great. Would only use this is case of someone who felt good about having more coverage for small premiums. Accident plans start at about $7 and look a lot like combined indemnity plans.

    There are complaints with this company as well. But the dental and vision also seem ok, comparable to any other companies out there. Those are actually Careington.

    Reminds me of Aflac or Combined but with some variations, and in the software you can build a plan to fit someone's individual needs. But nothing comes close to Assurity critical illness so far.

    Of course there are complaints. There are with almost every company out there with the exception of a few.

    I still prefer assurity. Now I'm going to look into Colonial. Got with a group guy who will do all the work and split the commish (I normally do not so group health-). He says colonial is ok. Jury still out on colonial.

    I did contact. It's actually an "ok" plan to get in the door with if we are talking price on accident. It's cheap (and probably my worth much). But I've been using it in a pitch book door to door a little to open up conversations.

    Cheasapeak/SureBridge to me is like the Ford Focus and Assurity is still the Cadillac.

    Jmo.

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    Just an FYI....Blue Cross in Michigan is aligning themselves with Assurity these days. I happened to end up at a meeting where this was happening. Especially to promote the CI.

    ----------

    What I mean by BCBS/Assurity, I mean Assurity has been getting BC agents signed up to cross sell Assurity...Not some kind of merger. Lol. Just wanted to clarify that. They've been courting anyone left in the health insurance biz and doing seminars/meetings/conferences all over the place.

    This is just a side note ...In michigan selling supps, the market has been getting very saturated. I've noticed it's happening fast. Kind of spreading like wildfire. Not too many small biz owners who don't know about it and haven't heard of it these days. ;)

    Happy selling.
     
  7. agentinsure
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    agentinsure Super Genius

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    Surebridge seems to have a nice line up of plans, good rates and the online quoting tool. I contacted them about getting appointed then got a call from an agengy from the midwest a few days latter, so I get appointed with them through this "FMO" who turns out to be an Insphere agent, not thrilled but thats ok then I the link to the online sales tool they provide to agents, guess what? No where in the in the code is there any identifying information that i am the agent, then on a little further digging i see they are tied to "Health Markets" which may or may not matter. Then when you call if you get anyone they may or may not speak english to well and only direct you to email or leave a message for support.

    At this point as much as I like their set up of plans & rates Im think this would be stupid to sell to anyone, so Im curious if anyone else has something good to say besides a 'Healthmarkets' or Isphere agent, no offense guys but a little objectivity and real life experience is what Im looking for?
     
  8. agentinsure
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    agentinsure Super Genius

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    how did that colonial work out or look to you? I got contracted with Sure and like you said their stuff is easy to put together with their platform but is like a ford focus.
     

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