AIG question...

[Life Hawk]

Just recently started using them and just had my first "WHAT?" moment...

Singed a client on the first with DOB of the 8th. Submitted business on the 5th... now they say he is a year older... he has to pay premium as if I signed him after the 8th...

Is it me or does that sound a bit off?

This is the first of this sort of issue I have ever ran into... bit confused.

 

[bboman23]

Doesn't matter when you submit. It matters when the draft date is. If you selected a date AFTER the 8th, he IS a year older.

 

[Life Hawk]

Doesn't matter when you submit. It matters when the draft date is. If you selected a date AFTER the 8th, he IS a year older.

Are you speaking about AIG... that must be so. But I have other carriers that haven't done this at all.

 

[VolAgent]

Are you speaking about AIG... that must be so. But I have other carriers that haven't done this at all.

I'm not aware of any company that doesn't use effective date to determine age. And generally effective and draft date match, so...

 

[Life Hawk]

Yes, like I said I been spoiled, as my main go to uses ap date to determine age... lesson learned, now I know why they are my go to.

 

[WinoBlues]

, as my main go to uses ap date to determine age...

As long as the draft is in the same calendar month? Example: policy date 01July draft on the 03July or even 28July.

 

[Baseball7]

Don’t worry they’re not going to draft on time anyway.

 

[Life Hawk]

As long as the draft is in the same calendar month? Example: policy date 01July draft on the 03July or even 28July.

Yes, to my knowledge I have never had them change age from when I sent it in... but I am old and forgetful.

 

[Life Hawk]

Hmm... wondering if I am getting preferential treatment...

 

[theinsuranceman]

Sr Life goes by the age of the proposed insured when the app is signed. If proposed insured has a birthday before initial draft nothing changes. Keeps it simple thank goodness.