Any Info on LaFayette Life FE?

[jacobtn]

Their rates are cheaper than anyone else that I can find for level final expense. Any info on this company regarding commissions, underwriting etc.?

 

[Mark]

I asked the other day in another post and was told the underwriting is tough.

 

[theinsuranceman]

Of course, the cheaper the premium the stricter the underwriting. The higher the premium the looser the underwriting.

Since a lot of agents on this forum are always saying show the cheapest premium to the prospect, why would anyone care what the commissions are like?

 

[Todd King]

Since a lot of agents on this forum are always saying show the cheapest premium to the prospect, why would anyone care what the commissions are like?

Is this really a serious question?

 

[jdeasy]

Of course, the cheaper the premium the stricter the underwriting. The higher the premium the looser the underwriting.

Since a lot of agents on this forum are always saying show the cheapest premium to the prospect, why would anyone care what the commissions are like?

Your premise is false. Foresters and RNA have much easier underwriting than LH and much lower rates. AmCon is the easiest of them all and they are considerably lower rates than LH.

Running out of excuses for your over priced products. Oh yeah, all of those companies pay higher commissions as well. Dang, that's gotta sting!

As far as the original question about Layfayette Life. Their underwriting is comparable to RNA's Royal Prime, er Essential Life now. If they can qualify for Layfayette Life you might as well put them with RNA's fully underwritten product. The rates for that are much lower than Layfayette's.

 

[Larry Tew]

Lafayette does not specialize in the FE market. They are comparable to Ohio National and Mutual Trust in their priorities and methods.

 

[theinsuranceman]

jdeasy;377622]Your premise is false. Foresters and RNA have much easier underwriting than LH and much lower rates.[/B] AmCon is the easiest of them all and they are considerably lower rates than LH.

Running out of excuses for your over priced products. Oh yeah, all of those companies pay higher commissions as well. Dang, that's gotta sting!

As far as the original question about Layfayette Life. Their underwriting is comparable to RNA's Royal Prime, er Essential Life now. If they can qualify for Layfayette Life you might as well put them with RNA's fully underwritten product. The rates for that are much lower than Layfayette's.

(See the bold print above): I was talking with an Equita agent the other day. He's using Forester's and a few other Co.'s, just like you.

He was surprised how liberal the underwriting is compared to what he's been using, even though the premiums are much higher. Makes me think you made a mistake saying the underwriting for Foresters and RNA is more liberal.

I haven't seen an RNA app nor a Foresters app. Perhaps you could display them here for all to see and judge for themselves the underwriting comparison.

 

[Newby]

Lafayette does not specialize in the FE market. They are comparable to Ohio National and Mutual Trust in their priorities and methods.

Lafayette Life DOES also market themselves as a final expense (simplified issue for seniors) company through FE marketers.
All the FMOs I have talked to about them over the years tell me it's NOT simplified issue like the other FE products. They decline or rate up a LOT more applicants. That is death for an FE agent.
They might be good to have for your healthiest applicants.

 

[jdeasy]

(See the bold print above): I was talking with an Equita agent the other day. He's using Forester's and a few other Co.'s, just like you.

He was surprised how liberal the underwriting is compared to what he's been using, even though the premiums are much higher. Makes me think you made a mistake saying the underwriting for Foresters and RNA is more liberal.

I haven't seen an RNA app nor a Foresters app. Perhaps you could display them here for all to see and judge for themselves the underwriting comparison.

I know from experience that LH is tighter underwriting than RNA or Foresters or AmCon. One example, LH will not give immediate coverage to a person on Plavix. The 3 I mentioned will. LH will also put a person on modified that takes Lasix, Foresters will do immediate as will AmCon. Another one, LH will not do immediate coaverage for a person taking Trental. I just had one approved immediate that does take it.

There might be a case ot two where LH would be more liberal, but I haven't run into one lately. I said in another thread that I wrote 325 FE applications last year. I did refer one to a LH agent. So, yes, about .01% of the time a person could get coverage with LH and justify the higher premium.

I did just have another that I referred to an LH agent. She is 28 years old and on insulin and has been on insulin since age 3. So, 2 cases in 2 years. You may be onto something.

 

[theinsuranceman]

I know from experience that LH is tighter underwriting than RNA or Foresters or AmCon. One example, LH will not give immediate coverage to a person on Plavix. The 3 I mentioned will. LH will also put a person on modified that takes Lasix, Foresters will do immediate as will AmCon. Another one, LH will not do immediate coaverage for a person taking Trental. I just had one approved immediate that does take it.

There might be a case ot two where LH would be more liberal, but I haven't run into one lately. I said in another thread that I wrote 325 FE applications last year. I did refer one to a LH agent. So, yes, about .01% of the time a person could get coverage with LH and justify the higher premium.

I did just have another that I referred to an LH agent. She is 28 years old and on insulin and has been on insulin since age 3. So, 2 cases in 2 years. You may be onto something.

That is pretty liberal with Trental and Plavix. These meds may be off the table in a few yrs. once actuary tables are updated. You are talking of meds only, I'm also talking about the actual health questions on the app. as was shared with me by the Equita agent.

Could you post the apps on the forum so we/I can see the health questions?