- 19,579
Dialing for dollars
- Thread starter tippingpoint
- Start date
Even without the extra $5/month each for Legacy Assurance, KSKJ beats the rates.
In others words, those Platinum policies would be getting replaced by KSKJ all day long.
- 4,840
JD....there you go with another lie. I never said the premium couldn't be beaten.
- 19,579
Did the monthly premium you gave earlier include the cost of Legacy Assurance?
You talked about the savings they'd receive on caskets. So when you add Legacy Assurance to their monthly premium, what's their total monthly premium?
Telesales314
Expert
- 75
The main thing I am wondering is the underwriting. Because having 'underwriting more liberal is super preferred' may not mean much when super preferred is extremely restrictive in itself, with:
-10 year lookback on things most companies only look back 2-3 years on.
-what appears to be a lifetime lookback on illegal drugs
-What appears to be a lifetime look back on arrests
- Hospitalized 2 or more times in 5 years
So we will have to see what the actual app says when he posts it. Because an 8 year lookback instead of 10 is technically less restrictive than super preferred, while still being extremely restrictive.
-10 year lookback on things most companies only look back 2-3 years on.
-what appears to be a lifetime lookback on illegal drugs
-What appears to be a lifetime look back on arrests
- Hospitalized 2 or more times in 5 years
So we will have to see what the actual app says when he posts it. Because an 8 year lookback instead of 10 is technically less restrictive than super preferred, while still being extremely restrictive.
Don't worry, it will still be strict.
Senior Life doesn't care about being competitive, because their niche doesn't require them to be. They know they can sell overpriced policies with their gimmick, and they'll do just fine.
BobHarris
Expert
- 20
It's a 5 year look back.
Question 2 is interesting. Anyone ever convicted of a felony or misdemeanor?
The application is attached
Question 2 is interesting. Anyone ever convicted of a felony or misdemeanor?
The application is attached
Telesales314
Expert
- 75
Thanks! I agree with you on question 2. A speeding ticket can technically be a misdemeanor. I would hate to have a claim go sideways because a client forgot about a misdemeanor from 20 years ago.
Also strange is #5 A-C because many of those conditions are not curable, so having a 5 year lookback is basically the same as it being a DNQ question for a lot of those ailments.
SL platinum is similar on a few basic ailments (2x cancer in lifetime, pending tests, all the generic DNQ stuff-Aids/HIV/terminal/etc).
However, for the VAST majority of ailments that would currently knock my clients out of a level plan, the platinum plan is far more restrictive on lookbacks for those ailments. Additionally, it adds a some important restrictions that currently would NOT bump my clients down:
-Lifetime felony or misdemeanor lookback
-Currently unable to work (presumably anyone on disability can't get SL platinum)
-Unexplained weight loss
As of right now the only places it would be LESS restrictive for me would be:
-Oxygen in last 2 years
-surgery in the last 2 years
-Mayyyybe heart attack depending on the wording since I dont see it listed there
------But the odds of someone being on oxygen or having a stent last month and saying no to the rest of the Platinum questions seems very unlikely.
And even if by some miracle a client gets through the more restrictive questions, the female rate quoted earlier is the exact same as AmAm (male was like 10% higher). And American Amicable is decently competitive, but is by no means a price buster. So if the rates are basically the same as a generic carrier, it does not benefit the agent at all to be far far far more restrictive.
It will be interesting when he posts the rate sheet to see what the rates for the plan are across the board, especially nontobacco.
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- 19,579
That's more stick than most of the FU apps I have. So just write FU and blow it away.
He most likely wasn't including the price of that legacy gimmick in those quotes either.
