I'm read some things on them about not paying claims and also offering low rates to start and then jacking them up every year. Though here in MT they supposedly have lower rates now, I haven't tried quoting anything. I recently heard a local agent talking about his assistant having to deal with the rate increase calls for the month--yet on that same day I was getting info about how the rates were lowered in the state. So basically the new clients get the low entry rate while the existing clients are getting rates jacked up...sounds more like what I've heard about some P&C carriers. So I don't know. Maybe check with your State's insurance dept to see what kind of complaints they're getting.
Any experience with Assurant?
- Thread starter toc3
- Start date
- 4,096
I put a small block of small group health with them a few years ago. They had an ideal plan with 50% co insurance that was priced very right that fit the motel & construction industry. The next year they came out with 38% rate increases and I ended up having to move all the groups.
I've done work with them for years. I still call them Fortis.
I can say this about them....they are an insurance company.
Claims paying? ALL insurance companies can and do at times make terrible claims paying decisions.
In my State, I've never found them to be buying the business. I have seen very, very low rates from other insurance companies that do rise a lot at renewal. I don't do business with companies that are buying the business and unreasonably trend their rates.
The con I have with Assurant is they will rider out the silliest stuff. I have a 40 year old client that had a small bout of acne and Fortis rider-ed it. I had one client that was denied. At the moment I can't remember but it was because Assurant called for blood work. Blood work for health insurance was a first for me. Anyhow...the results came back and the guys wife is a nurse. She said the results were nothing to worry about but Assurant declined.
I went to Golden Rule with him. Same info on the apps and issued without a problem.
Golden Rule...hm? I have a bone to pick with them. I do not get paid annualized. I am paid as earned. Because of a weird accounting quirk I got a charge-back. For three months they have been working on removing it. I was never even paid on what they are charging back. Geez!
Bottom line is I think Assurant is as good as Golden Rule and others. Just my 2 cents.
I'ver never placed a group with them. A long time ago I did get a group quote and they were not competetive.
I can say this about them....they are an insurance company.
Claims paying? ALL insurance companies can and do at times make terrible claims paying decisions.
In my State, I've never found them to be buying the business. I have seen very, very low rates from other insurance companies that do rise a lot at renewal. I don't do business with companies that are buying the business and unreasonably trend their rates.
The con I have with Assurant is they will rider out the silliest stuff. I have a 40 year old client that had a small bout of acne and Fortis rider-ed it. I had one client that was denied. At the moment I can't remember but it was because Assurant called for blood work. Blood work for health insurance was a first for me. Anyhow...the results came back and the guys wife is a nurse. She said the results were nothing to worry about but Assurant declined.
I went to Golden Rule with him. Same info on the apps and issued without a problem.
Golden Rule...hm? I have a bone to pick with them. I do not get paid annualized. I am paid as earned. Because of a weird accounting quirk I got a charge-back. For three months they have been working on removing it. I was never even paid on what they are charging back. Geez!
Bottom line is I think Assurant is as good as Golden Rule and others. Just my 2 cents.
I'ver never placed a group with them. A long time ago I did get a group quote and they were not competetive.
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I like their (non health saver) temporary health insurance plans for individuals. Other then that I dont sell them.
- 124
I've sold with Assurant in North Carolina for a few years now. Never had any problems. I've got a great marketing rep that is very quick with any group quotes.
Underwriting seems to be very good.
Only issue seems to be that after the 12 month rate guarantee there is always an increase. But still seems to be very competitive with other carriers that I deal with.
Underwriting seems to be very good.
Only issue seems to be that after the 12 month rate guarantee there is always an increase. But still seems to be very competitive with other carriers that I deal with.
- 9,744
This kind of stuff is ignorant at best, and stupid at worst.
I've been in this business a little over 17 years now. In that time, I have NOT seen one single, solitary legitimate claim NOT paid - by any carrier.
You must have a burr upp your azz today... It puzzles me why you interject such a degrading response to someone's question...? What the OP said was: he had read somewhere that they didn't pay claims. Certainly this isn't true, but does that make HIM ignorant or stupid...?
I think that a response of this type does make you mirror both. But that is just my opinion...
- 9,744
Better... (not really). But who cares.
I have been around long enuf that the statement made was correct, about Time Ins. Time had the worst rep for u/w at the time of a claim; really bad. Oh yes, this was early 80's, and they did essentially no u/w at the application (facetious) and if and when a claim was filed, they were looking for the exits... If they didn't have to pay, they wouldn't.
So maybe it was just and old article that the OP read...
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