Best FE Company

[rousemark]

Whatever amount was non-contestible before.
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What the companies don't think about is that agents are still doing replacements in KY. They just don't fill out the replacement forms. I see that all the time.

They probably realize it but choose to turn a blind eye to it. If something goes wrong then they can go after the agent..

 

[WinoBlues]

They probably realize it but choose to turn a blind eye to it. If something goes wrong then they can go after the agent..

I was replying to the risk question. But yeah, smaller FE policies would have smaller size risk.
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Whatever amount was non-contestible before.
- - - - - - - - - - - - - - - - - -
What the companies don't think about is that agents are still doing replacements in KY. They just don't fill out the replacement forms. I see that all the time.

How many years have they allowed this? I would do a happy dance if they allowed that here.

 

[jdeasy]

I was replying to the risk question. But yeah, smaller FE policies would have smaller size risk.
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How many years have they allowed this? I would do a happy dance if they allowed that here.

They don't allow that. It's a big deal to not fill out replacement forms.

Many agents just don't fill them out. They mark on the application that it's not a replacement.

I know of one agent that lost his license over it. He replaced an LH policy that he had written with a Settlers policy. The guy died a month after the replacement. Settlers had to pay up even though they wouldn't have allowed the application if they had known it was a replacement. Doesn't matter in the eyes of the law. The agent represents the company. I don't know if they went after him for the recovery of the money and if your E&O would cover that, probably wouldn't, but I do know that he is not licensed anymore.

 

[Newby]

They don't allow that. It's a big deal to not fill out replacement forms.

Many agents just don't fill them out. They mark on the application that it's not a replacement.

I know of one agent that lost his license over it. He replaced an LH policy that he had written with a Settlers policy. The guy died a month after the replacement. Settlers had to pay up even though they wouldn't have allowed the application if they had known it was a replacement. Doesn't matter in the eyes of the law. The agent represents the company. I don't know if they went after him for the recovery of the money and if your E&O would cover that, probably wouldn't, but I do know that he is not licensed anymore.

In that case he claimed to not know it was replacement. But he was the agent that sold the LH policy two years earlier. And he sold the Settlers policy the same day that the Lincoln was canceled. Seemed a little fishy.

 

[jacobtn]

In that case he claimed to not know it was replacement. But he was the agent that sold the LH policy two years earlier. And he sold the Settlers policy the same day that the Lincoln was canceled. Seemed a little fishy.

amazes me the stuff agents will do for a buck. some will literally break the law and take a chance that the client won't die for a thousand bucks? amazing.

 

[JAG82]

Back on topic---FE companies that are must have in the bag.
Forresters-great rates
Oxford-great rates
Settlers-great rates
Gleanor Life-Great for almost guaranteed issue!+great rates
Forethought
Government Personal Mutual
Omaha
Motorists
Monumental
UHL-real guaranteed issue
Lincoln Heritage
Equatable Life & Casualty

This is who I carry for Michigan and all have almost within a $5 monthly premium for same age/sex from what I have ran. Anyone else have a company that has comparable rates to forresters in Michigan please let me know as I am trying to get away from my IMO but they will not release me for a few companies I use weekly.