Colonial Penn Med Supp

Discussion in 'Senior Insurance Forum' started by insurance0707, Nov 11, 2010.

  1. insurance0707
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    insurance0707 Well-Known Member

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    I had a 66 year old female client who's a smoker just switched over to Plan N with Colonial Penn. She told me he quoted her 97 a month. United of Omaha is $100.21. She's in Michigan in the 48768 zip code. I don't think the agent quoted her smoker rates. Does anyone have the rates for Colonial Penn?
     
  2. Newby
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    Newby Well-Known Member

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    I didn't know they had Med Sups but on their life insurance they don't charge smokers more than non-smokers. They just price themselves in the middle which kind of penalizes non-smokers but rewards smokers.

    They might be doing the same thing with their Med Sups.
     
  3. Focus LTC
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    Focus LTC Well-Known Member

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    Here in MD Colonial Penn does NOT have smoker rates for Med Supps. They only have one rate table. They call it Unisex Standard. Males, Females, smokers, non smokers, they all pay the same rate based on age. The only other company to do that here in MD is BCBS...
     
  4. Orangechpper
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    Orangechpper Active Member

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    I can confirm that CP has same rates for smokers and non-smokers.

    They also have a surprisingly low rate for Plan N here in Texas. However, every other plan is crazy high compared to Mutual of Omaha.

    I think part of the reason is that MOO has limited underwriting for Plan N where CP has standard underwriting for plan N.

    BTW, CP is really the new Banker's Life product line. Kind of like how MOO and United of Omaha switch every now and then... same will be true of Banker's and CP for awhile. (former Banker's guy here)
     
  5. insurance0707
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    insurance0707 Well-Known Member

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    Yes, I've found out that this is through Banker's Life, they finally have something somewhat competative to show and they are showing it. I had 2 clients call today that said Banker's Life came over showing the Colonial Penn Plan N to them. 68 female Plan N 115 Plan G 175. UO was 100 Plan N 134 Plan F.
     
  6. MedSuppPro
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    MedSuppPro Well-Known Member

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    Great! Just what I need in my life is another low life Banker's Life crew pushing CP.

    Maybe it's time once again for us indy agent's to jump on the Conseco band wagon!

    "Conseco, Step up!"
     
  7. wicked22
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    wicked22 Member

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    CP doesn't offer the vision discount that UoO offers. You may want to find out if that is something that interests her. i normally don't use it as a way to sell a med sup, but I really hate Bankers. Would she qualify for Loyal American? I just checked their rates from when CP went active in June, and according to those sheets, her premium should be 98.86. If your interested in seeing their rates, let me know.
     
    Last edited: Nov 12, 2010
  8. insurance0707
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    insurance0707 Well-Known Member

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    I sent her rates for AARP's Plan N at 92.24, which includes the health club membership, discount vision, 24 hour nurse, plus a little lower premium. Maybe I can conserve it. The problem is the agent had her cancel her Plan F the same day he was out there and wrote her the Plan N. She better hope her policy gets issued with Colonial Penn and doesn't have any problems in underwriting. What a stupid agent....he should have listed a 12-1-10 issue date and made sure that her Colonial Penn policy was issued before canceling her current plan.
     
  9. YouGotMyMoney
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    YouGotMyMoney Well-Known Member

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    Actually, he's a smart agent ( I didn't say a good agent though).
     
  10. insurance0707
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    insurance0707 Well-Known Member

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    Stupid agent...he had her call me to cancel the policy. I'm mailing her a letter for her to sign and mail back, I also sent her the lower priced plan N info. I'm going to tell her I won't cancel her policy until she knows her new one is issued
     
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