Capitol Life Is Entering the Medicare Supplement Market!

Aug 7, 2019

  1. Northeast Agent
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    Northeast Agent Guru

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    Capitol Life, a sister company to Liberty Bankers Life, is now entering the Medicare space! Not only do we have a great history with the leadership behind this company, but this supplement is coming into the market with extremely competitive rates.

    In nearly every state they're launching in, they are within the Top 3 for Plans F, G, and N, and in several states, they are number 1!! This is a can't miss carrier as they prepare to launch in October. Capitol Life is currently approved in 6 states with more coming in every day.

    Be the first to get your contracts for an October 1, 2019 launch date. More information on their underwriting and incentives to come!
     
  2. Chazm
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    Chazm Guru

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    Do people actually sell new supps that come into the market? I write most of my biz in FL and new companies come in with the lowest rates and within two years are never heard from again
     
    Chazm, Aug 7, 2019
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  3. vic120
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    vic120 Guru

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    I'm more interested in companies with underwriting nitches, Rather than the lowest rate
     
    vic120, Aug 7, 2019
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  4. Devin01
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    Devin01 Guru

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    I am being told there will be extra comp on the plan N , similar to what aetna has done with LBL and their new product.

    Chaz I write the smaller companies all the time . There is no gurantee the larger companies won't raise rates like MOo Cigna Aetna etc.

    Pan Am has some great underwriting nuckes and terrific rates here in NJ. Equitable offers instant descision and is ez to work with. Prosperity has been stable here in our market for 3 years.

    If you are actively managing your book every 3 to 4 years you should be doing client reviews.

    Now if a client is sick going into enrollment I may consider a different company.

    Some agents can only sell a brand name company like UHC or Humana, we tyoically give a client 4 to 5 choices and they follow our guidance.
     
    Devin01, Aug 13, 2019
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  5. Travis Price
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    Travis Price Guru

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    I don't want to speak for Chaz, but I don't think he's talking about smaller companies. I think he's talking new v established.

    I agree with your premise of flipping people, but I don't think that flipping people JUST on price (not saying you are) is the best thing. Chaz lives in FL, where UHC is super competitive AND has a 7 year fyc. I live in MI, where UHC, BCBS, MOO (which I wouldn't write anyway) aren't competitive and generally a 3 year fyc. If there's a better, established option at year three, I'll totally pitch it.

    As Chaz said, a lot of new companies try to buy policies the first year or so to jack up the rates in year 2-3+. Except for Lumico, I don't represent a company in MI that hasn't had a few years of claims experience. They may not be large, but they are established.
     
  6. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    I was really happy with LBL until that last rate increase. Should be similar to Sentinel/ Atlantic Coast Life.

    What states are they in and does your LBL contract let you sell Capital Life?
     
  7. shonceman
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    shonceman Guru

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    I don’t think there’s any difference, although they operate the companies separately. I’m not as familiar with the MedSupp side of the company, but on the life side the products and pricing are identical between the two companies. They just have to operate as Capitol Life in some states because apparently the Liberty Bankers name was deemed to be too similar to other companies operating within those states. So, when I wanted to get appointed in MO (where I’m already licensed), I had to sign a separate Capitol Life contract in order to be appointed in that state.
     
  8. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    The life and Med Supp are 2 seperate contracts with LBL. Several Med Supp companies like Aetna, Cigna and Manhattan, didn't require new contracting when they rolled out "sister" companies.
     
  9. shonceman
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    shonceman Guru

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    That’s true, but I’ll bet they want a separate contract in this case. I’m obviously speculating based on my experience with the life side, though.

    Liberty Bankers Insurance Group recently got a new CEO who has extensive experience with Medicare products. I met him on the company trip earlier this year, and he invited me to lunch after we got back. Really nice guy. I get the impression that he envisions LBL becoming a major player in that business. Wouldn’t surprise me if some good changes came along soon.
     
  10. Devin01
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    Devin01 Guru

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    As I u derstand it as long as u have lbl u will have capitol life as well.
     
    Devin01, Aug 13, 2019
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