Are MOO Captive Agents Pulling A Fast One?

bigeats

Super Genius
100+ Post Club
Just got off the phone with a gentleman who had spoken earlier today with a MOO captive agent.

The agent misquoted a Plan G (quoted $131 and change for a policy that costs $141 and change) knowing perfectly well that no marital discount would apply. Left the customer believing that as a captive agent, there are things he could do that a broker can not.

He also told the customer that his rate would be guaranteed - and that he would never have to worry about a rate increase FOREVER.

Oh, and let's not forget that he also told the customer that because he works in the home office, he could get the policy made effective IMMEDIATELY.

I guess the new rates aren't working so well at MOO. :laugh:
 
Just got off the phone with a gentleman who had spoken earlier today with a MOO captive agent.

The agent misquoted a Plan G (quoted $131 and change for a policy that costs $141 and change) knowing perfectly well that no marital discount would apply. Left the customer believing that as a captive agent, there are things he could do that a broker can not.

He also told the customer that his rate would be guaranteed - and that he would never have to worry about a rate increase FOREVER.

Oh, and let's not forget that he also told the customer that because he works in the home office, he could get the policy made effective IMMEDIATELY.

I guess the new rates aren't working so well at MOO. :laugh:

Sounds like a real scumbag.
 
Could it be plausible that the prospect made this all up? Not on purpose, but I've learned that their memory isn't always that sharp
 
My first thought was that the prospect simply misunderstood the agent... and I started defending the guy - saying that perhaps he was looking at the marital discount by accident...

The prospect told me that they discussed his wife... and the fact that she was still in her 50s... therefore there was NO question about any discounts... and he also kept notes of what the agent was telling him, as he found what he was being told as pretty hard to believe.

And yes, the agent did say that he would put it all into writing. THAT I have to see.
 
And yes, the agent did say that he would put it all into writing. THAT I have to see.

I would advise your "future client" to tell the agent if he will put it in writing then he has his business. Also make sure he has the agent sign and date the letter. If the agent is willing to do that, he is ending his career if the guy will give you a copy of it.
 
I would advise your "future client" to tell the agent if he will put it in writing then he has his business. Also make sure he has the agent sign and date the letter. If the agent is willing to do that, he is ending his career if the guy will give you a copy of it.
:laugh:


the agent sounds like a real scumbag, but I wouldn't suggest that MOO agents are like that.
 
This is from the email he sent to the prospect after telling him that he has been a licensed agent for 10 1/2 years:
[FONT=&quot]
"I really appreciate the opportunity of assisting you with your Medicare supplement [/FONT]
[FONT=&quot]i[/FONT][FONT=&quot]nsurance. Mutual of Omaha is a great company[/FONT][FONT=&quot].[/FONT][FONT=&quot] Mutual of Omaha has been around for over 100 years and we are an A+ rated Company. [/FONT]
[FONT=&quot]Plan F is the most comprehensive plan that works with Medicare. Plan F will pay for all the Co[/FONT][FONT=&quot]-[/FONT][FONT=&quot]pays and Deductibles that Medicare[/FONT][FONT=&quot]part A & B do not pay. [/FONT]
[FONT=&quot]Plan G is a great Plan as well. The only difference between Plan F and Plan G, is that the Plan G requires you to pay the Medicare annual deductible of $140.00. [/FONT]
[FONT=&quot]With either of these Medicare supplement plans you can go to any doctor or hospital in the country that accepts Medicare.[/FONT]
[FONT=&quot]Please review the attachment and/or call and ask [/FONT][FONT=&quot]for [agent's name redacted] with any of your questions,and for the actual price of a Mutual of Omaha supplement for you.The plan G rate for you is $ 131.93 and the rate for plan F is $ 157.75[/FONT]
[FONT=&quot]As we discussed you are in a issued age state. Your will pay the 66 yr old male for the rest of your policy life."

[/FONT]
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So this agent pretty much told the prospect that I was unaware of the "new" rates that recently came out... and that is the reason why he is quoting a lower premium than Ritter or the rate sheets that I have for Georgia...

So.... I logged into MOO and downloaded the "latest" rate sheet and looked at the premium for a non smoking male age 66 in zip code 302... and I still don't see the rate he is quoting.

So.... I logged into Florida's state insurance website and pulled up this agent's record...

Anyone care to venture a guess as to what I found?
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Oh - forgot to mention - the MOO agent told the prospect that there will be some "cost of living" increases... but not a rate increase...

LOL
 
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Tell your prospect if they want that rate they will have to move to Florida, and then explain how those MOO COLA increases really work . . .
 
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