CIGNA MedSupp Experience

[MedSuppPro]

CIGNA's new MedSupp has been out since Jan 2013.

I've held back on contracting with them. I'm happy with my other carrier's even if CIGNA is the cheapest premium by +/- 10%. Not a fan of any carrier who steals your comp due to OE or GI business.

The questions I have are:

What has been your experience with this newly re-branded Loyal / American Retirement Life MedSupp?

If you haven't contracted with them; why and do you feel you're missing out on some sales opportunities?

 

[houcoogster]

Thank goodness they are not the cheapest in my area. However the dadgum duck is. I talked to a guy a few blocks away from me, him and his wife bought the duck t65's.
So I'm gonna have to go back and edit some posts and get appointed I guess...lol
Man I hate eating crow

 

[MedSuppPro]

I thought the Duck cut the T-65 comp as well?

 

[Superchief]

I picked up the Cigna product; it's one of the better rates in my area for Plans F, G & N. Experience so far has been good with no hiccups. Don;t think I would miss out on sales oppos if I didn;t have them, but I've worked with them in the past on other products (Loyal American) and have been pleased. They have good agent service and the persistency on the business I wrote in years past with Loyal has been very high.

@ Med Supp Pro: They do not reduce your comp on OE business, just GI like most carriers are doing nowdays.
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I thought the Duck cut the T-65 comp as well?

I don't know of any carriers cutting T65 comp; not even sure that's legal. GI is a different story though. Other than UHC are there any decent carriers paying full comp on GI?

 

[agentjhc]

Thank goodness they are not the cheapest in my area. However the dadgum duck is. I talked to a guy a few blocks away from me, him and his wife bought the duck t65's.
So I'm gonna have to go back and edit some posts and get appointed I guess...lol
Man I hate eating crow

Be interesting to hear from those writing Aflac. I know a lot of folks were slamming them earlier when contract was rolled out.

 

[sman]

I don't know of any carriers cutting T65 comp; not even sure that's legal. GI is a different story though. Other than UHC are there any decent carriers paying full comp on GI?

Until this month, New Era only paid half the normal commission on T65 business. Other carriers have done it as well, I just can't think of who at this moment. It certainly isn't illegal.

I suspect New Era saw a dramatic drop in T65 business and that's why they finally changed their rules.

 

[Superchief]

Until this month, New Era only paid half the normal commission on T65 business. Other carriers have done it as well, I just can't think of who at this moment. It certainly isn't illegal.

I suspect New Era saw a dramatic drop in T65 business and that's why they finally changed their rules.

I would suspect the same. I think they were one of the first carriers that started paying the $25.00 on G/I business.

 

[Bevo]

I had no idea New Era changed this. Was this for all the states they are in? That's great news if so.

Regarding Aflac and Cigna:

No problems on either. If you don't write them and they got on the phone with a good rep who does you're likely going to lose out. Aflac pays very fast, Cigna not as much but still no issues/complaints.

 

[insuranceconceptscindy]

I've been selling Cigna since they came out in my state. It's easy to sell on price.
The challenges that I've had are when a client gets declined- they take an average of 45 days to return premium. Very unhappy clients. I'll also say, that those clients that were declined did it to themselves in the phone interview. Only company I've worked with that does a phone interview AFTER I did the field underwrite. I'm sure it's to catch those that "forget" to tell me something, but it's frustrating none the less.
After the initial learning curve, it's been easy. Just waiting to see what their rate increase is going to be next year. . . Pretty sure it will be hefty.

 

[sman]

I had no idea New Era changed this. Was this for all the states they are in? That's great news if so.

I don't know if it's all states or not. But can't imagine they would do it in some states and not others. But then again, the reduced commission didn't start out in all states. So who knows.