Bankers Life Question

Jul 30, 2008

  1. insurance0707
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    insurance0707 Guru

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    I've had a couple of people tell me they're talking to Banker's Life about their Medicare supplement. It sounds like if they pay their premium in advance, 3 years, that Banker's Life will give them a discount that comes to getting 6 months of coverage for free.

    Has anyone else heard of this going on with Banker's?
     
  2. patch36
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    patch36 Guru

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    Well, it would depend on the rate they are charging for the supplement. The rates I have seen are not good. It would be easy enough to compare. In other words they are selling 36 months for the price of 30 months. I am not even sure that is technically legal, but you did say Bankers and they can be very creative with their sales pitches and descriptions.
     
    patch36, Jul 30, 2008
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  3. insurance0707
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    lol, I know what you mean. The client was quoted $115.97 for a Plan G locked in (?) for 3 years rather than paying the $144.33 per month.

    AARP's Plan G is $ 101.95
     
  4. The Rabbi
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    The Rabbi Guru

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    Try to find an agent doing well with Bankers. Good luck. Their rates are high, their agents have to be pushy.
     
  5. Non-golfing Agent
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    Life rates aren't bad.

    Med supp rates? pfffft.
     
  6. Louis P.
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    Louis P. New Member

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    I love to follow Banker's agents on FE. They'll do anything for a commission it seems. Not all, I'm sure but sooooo many! I've noticed a pattern of writing non-smoker policies to OBVIOUS smokers. I guess they just hope to make it past 2 years. But, when you show up and explain what'll happen if they die this year or next, they will do whatever it takes to make that old policy go away!!
     
    Louis P., Jul 30, 2008
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