Another One Bites the Dust
- Thread starter Mr_Ed
- Start date
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What are you guys talking about?
- Thread starter
- #4
What are you guys talking about?
am gen is out.
no big deal really.
my personal production was 3 placed policies with them in the past 12 months.
no great loss.
but they did have some very lenient underwriting.
I just submitted 2 apps to them this week. When is the drop dead date?
Arthur Rudnick
Guru
- 1,652
Originally posted by ltcadvisor
Oh, I forgot to tell you, it was last week.
Sorry............
Oh, I forgot to tell you, it was last week.
Sorry............
- 2,584
This probably explains why FMO's didn't seem interested in talking about them with me recently.
Official document in case you did not see it:
Effective August 1, 2012, the insurers of American General Life Companies (American General) will suspend sales of their American General LTC® product. After August 1, 2012, we will not accept applications for:
■■ American General LTC (policy form number 08000)
We remain committed to producer support and policy owner service. The closure of this product for new sales in no way
diminishes our commitment to service and complete support for in-force policy owners. Any pending policy applications that
were received before August 1 will be processed and issued as usual. Producers with existing clients will receive the same
level of support they expect from American General.
Why suspend American General LTC sales?
American General must concentrate its sales efforts on the appropriate mix of products to grow the business.
Unfortunately, market conditions have impacted the economic feasibility of this product line. American General is focused
on maintaining the financial security of the organization while offering the right products to meet our customer's needs.
Does this impact any other supplemental accident & health insurance products?
American General is committed to sales and support of their remaining individual supplemental accident and health
insurance products including:
■■ Accident Expense Plus® (policy form numbers 07120, 07020N)
■■ CriticalCare Plus® (policy form number 05130)
These unique products are well positioned in the industry and offer excellent growth opportunities in the uncertain
health care environment.
Effective August 1, 2012, the insurers of American General Life Companies (American General) will suspend sales of their American General LTC® product. After August 1, 2012, we will not accept applications for:
■■ American General LTC (policy form number 08000)
We remain committed to producer support and policy owner service. The closure of this product for new sales in no way
diminishes our commitment to service and complete support for in-force policy owners. Any pending policy applications that
were received before August 1 will be processed and issued as usual. Producers with existing clients will receive the same
level of support they expect from American General.
Why suspend American General LTC sales?
American General must concentrate its sales efforts on the appropriate mix of products to grow the business.
Unfortunately, market conditions have impacted the economic feasibility of this product line. American General is focused
on maintaining the financial security of the organization while offering the right products to meet our customer's needs.
Does this impact any other supplemental accident & health insurance products?
American General is committed to sales and support of their remaining individual supplemental accident and health
insurance products including:
■■ Accident Expense Plus® (policy form numbers 07120, 07020N)
■■ CriticalCare Plus® (policy form number 05130)
These unique products are well positioned in the industry and offer excellent growth opportunities in the uncertain
health care environment.
- 111
Alzheimer's aka "Sometimes Timers" is killing this market.
- 8,707
ALG said:
I don't get that. I beleive the low interest rate environment and low lapse rate are killing things. The carriers know from day 1 what the max exposure is for LTC claims.
