Banner Life

Your $15 a month is $180 a year over maybe 20 years. You want her to spend that just because of your conspiracy theory of the "prudent person" theory? Where did you come up with that one? Show me a case (and state) where it exists in insurance case law?

But lets assume that what you say is true. All the more reason why we need to totally overhaul a system that is biased in the favor of the insurance companies (which you are a great spokesman for, by the way... I expect every BCBS in the country to endorse your association... could be big bucks there for you... sort of like a mini-AARP!).

As I said before, give me facts, not your voodoo insurance law. Show me a case where a person who did not know they had something bad, only had symptoms of simple ailments... stomach ache, headache, nose-bleed, had not gone to the doctor, decided to change coverage from carrier A to carrier B and who then had a para-med for LI and had their health coverage rescinded. Show me. Don't tell me, show me! I'm not trying to bait you. I'd really like to know if your theory is true because I have not heard of anything like this, at least not in CA.

Al
 
Let's leave it at this; I'll recommend the proper course of action for my clients and you recommend the proper course for yours. We have too much of "what I do it right and what you do is wrong" on this board lately (yes, I'm guilty) but I'm over it.

Doctors will argue over the best course of treatment, lawyers will argue over the best strategy and agents are going to argue over the best way to handle their clients.

I see no reason to launch into a 10 page post when no one's mind or methods will be changed in the end. Waste of time valuable time I'll never get back.
 
I love to come across prospects with the non med term, after I explain they are paying table D rates, and compare rates for fully underwritten plans, plus they get free blood work, I have never had even one client not change. Why not give them the best rate from the get go?


"Why not...?" For the very reason that the paramed exam can uncover conditions that could have a major impact on the new health policy. Unless conditions are KNOWN of the pi's health, and many folks just don't really know, thinking they are healthy but more neglecting their health than not... and when their HBP or Col is noted in the paramed, then you have opened a can of worms that they would have been better off to not go there at the present time, while the health appl is pending or newly issued policy.

Issue the non-med life as well as the health ins and as stated, go back at the anniversary date of the life policy and move them into a more competitive plan. So in this analogy, the client is paying 150 more for yr one, and then the fully underwritten rate thereafter, and hopefully the qual for preffered plus or close. Then let the savings begin. I think that if properly explained to most clients of WHY you suggest the above approach, when you are potentially protecting them from a rate or coverage risk, by using the non-med life appl as a temp solution.

They get the health policy that they need and are applying for, they get the life that they need and are applying for, and all for a small upcharge, and don't have the downside risk of potentially negative para-med.
I see this as a value to your clients and excellent advice. Of curse we can bat back and forth what-if scenarios, but in the real world this seems like a wise move every time to me...
 
What he said. And Al obviously didn't read my post - which he can re-read if he wants:

"...Then at the one year mark I call back up and go over rates with an exam."
 
My typical approach is to get the health insurance in force then do the exam.
By doing a rated up policy up front, then waiting till anniversary, why wait till anniversary anyway, you also run the risk of a change in health that might prevent them from getting the rates they could have received initially. If you believe your approach is the best way, that is fine, I just happen to disagree, no foul, just opinions.
 
I am sorry - maybe I am missing something here.

You are selling life insurance to people that have no health insurance? That to me (a health agent) seems very odd and to me would be a red flag.

Banner is very slow indeed, and their "telephone application" which they mail to applicant for signature is a solid 45 minutes. I was stunned when I sent them two applicants that spoke Spanish and Banner had NO Spanish speaking persons to conduct the telephone interview and they closed the case.

I thought it was a violation of Federal law to not have someone speaking Spanish? Or maybe that legislation is pending... either way (joking) a company of that size not having a Spanish speaker is unbelievable.

All that aside - their rates on straight term are usually unbeatable (my opinion).
 
What he said. And Al obviously didn't read my post - which he can re-read if he wants:

"...Then at the one year mark I call back up and go over rates with an exam."

Al just looks stupid, but Al is NOT stupid... and Al reads quite well, thank you very much. If you propose that the client wait a year you are taking a risk on their insurability. I think there ARE times when this is a risk you want or need to take, but not as a general rule or practice.

Someone might make an argument that selling a plan today and the same one a year from today but with a different company at a lower rate is churning. IANAL but realistically how many times can you do this? Also, while the base para-med rate is lower, given that the client is older, there may not be an savings at all... and thus they are 'stuck' with a higher rate than they could have received had they taken the standard or maybe preferred full UW plan in the first place.

Every agent does things differently and there is no ONE right or wrong answer that is going to cover all occurrences.

Al
 
Someone might make an argument that selling a plan today and the same one a year from today but with a different company at a lower rate is churning. IANAL but realistically how many times can you do this? Also, while the base para-med rate is lower, given that the client is older, there may not be an savings at all... and thus they are 'stuck' with a higher rate than they could have received had they taken the standard or maybe preferred full UW plan in the first place.

In all fairness, an argument could be made on either position and the best lawyer would win! Affordability, insurability, needs analysis, demographics, etc. each have to be factored in if one is considering what course to take with a client.

If an agent is scared about being sued or ousted in public about churning then he or she should NEVER conduct annual reviews with clients and should tell clients that they have the best deal available once a year and leave it at that.

But why stop there?

You might as well as stop selling insurance because the new policy you sold a client could be misconstrued as twisting. I don't know about you, but I don't think that way. Of course it's in the back of my mind, but I find solace in my moral fortitude to follow through with my ethics.

I don't see you as being the unethical agent Al, although "I see black helicopters" comes to mind :)

Why waste time and energy on topics that lead can permeate your life with feelings of paranoia? If you're are going to do that, you might as well as start a website and newsletter so you can capitalize off it.

OR you can divert that energy into your business by finding ways to put the unethical agents OUT OF BUSINESS!
 
Has every post here these days just turned into a pissing match between a couple different people?

Guys, go sell something, take a break from the site. All the name calling and back and forth is a bit much and makes NO ONE any money. This site's strength has been providing valuable information on who and what's out there that wants to take our time and money.... It shouldn't become the backseat back and forth between a couple of "kids"... in other words.. "don't make me pull this website over."

And yes, I've been quilty a bit too. But I realize after a short while, if it isn't improving me or helping me make money should I be doing it?

Give peace a chance... you asses! ;)
 
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