Equitable L&C exiting the FE business

[shonceman]

They just recently withdrew thieir Medicare supplements from North Carolina. I have written
7 Heritage Protectors the last month. I did not enjoy dealing wih their underwriting anyway.

They pulled med supps? That surprises me!

 

[Newby]

A carrier stops selling a product for mostly one reason. They're actuarial projections went upside down. High lapse rate or claims rate. I dont know much about them, but I would suspect alot of agents used them in niche cases and messed up their projections.

They had two unique niches.

1. They took e-cigs as non smokers. (pipes, cigars and chew were also non-smokers).

2. Phone sales- Their app was completely voice only. They were mainly attractive for selling by phone.

We have them but just have them for Med Sups. I went to take their page off our website this morning and realized that I never even had put them on there.

They were basically a clone of Americo Ultra Protector but with a voice app and with a point of sale approval.

 

[Todd King]

They just recently withdrew thieir Medicare supplements from North Carolina. I have written
7 Heritage Protectors the last month. I did not enjoy dealing wih their underwriting anyway.

It's through Equitable National now.

 

[rousemark]

They had two unique niches.

1. They took e-cigs as non smokers. (pipes, cigars and chew were also non-smokers).

2. Phone sales- Their app was completely voice only. They were mainly attractive for selling by phone.

We have them but just have them for Med Sups. I went to take their page off our website this morning and realized that I never even had put them on there.

They were basically a clone of Americo Ultra Protector but with a voice app and with a point of sale approval.

They made the voice app and POS optional some time ago.. Of course it is a moot issue now.. ..

 

[Newby]

They made the voice app and POS optional some time ago.. Of course it is a moot issue now.. ..

Yes it was option but it was the attraction. When agents wanted to sell over the phone it was great because the customer didn't need to have email, or a printer, or a computer, or a smart phone. It just worked. And was priced pretty good for a phone sales product.

 

[Baseball7]

Prosperity seems to be the only that asks "do you smoke cig" only.

A few take "occasional cigar use"

I tried equitable a few times totally unimpressed. No loss with it's death.

 

[goillini52]

They had two unique niches.

1. They took e-cigs as non smokers. (pipes, cigars and chew were also non-smokers).

And pot.

 

[GAJ638]

I did a phone app with them in december. An 84 year non smoker. Phone interview went well. At the the of the interview the underwriter asked to speak to me. Mib showed that he had applied with another carrier within 12 months as a tobacco user. True in that he occassionally used cigars That being the case they would not issue as a non smoker unless his doctor would write a letter specifically stating he had not smoked cigarettes in 12 months.....Well I lost that case...

 

[somarco]

would not issue as a non smoker unless his doctor would write a letter specifically stating he had not smoked cigarettes in 12 months.....Well I lost that case...

Doctor refused to confirm?

 

[GAJ638]

His Doctor had recently retired and sold his Practice. His new Doctor said he had not been seeing him long enough to confirm this.