Federal LTC Program Questions

[CALTCAgent]

Hello,

I am up against the Federal LTC program and was wondering if anybody knew any competitive advantages I might have with individual LTC?

I noticed the premiums were quite a bit less for the Federal than what I could offer with a few companies I compared the Federal program with. Are they less than individual LTC?



Underwriting:

66 year old female, is a class 1 or uninsurable with most companies I have looked at.

5'-2", 207 lbs., type 2 diabetes, controlled oral meds, A1C below 7.

Would the Federal program take her?

Do they have Class 1?

Thanks!

 

[VolAgent]

Why hasn't this been moved to fight club yet? Also, I tried following the link, it took me to an article about Wall Street. What does that have to do with getting LTCi for medically challenged people?

 

[yankee466]

Why hasn't this been moved to fight club yet? Also, I tried following the link, it took me to an article about Wall Street. What does that have to do with getting LTCi for medically challenged people?

Looks like it pretty much all got stripped out by the moderators.

My after the fact view here is that if someone is smart enough to know lots of things that other people do not, why not try to profit from it. Its called free enterprise and should be commended. Whether this forum is the best place to troll for business is another story. Most LTC agents are likely lucky to know much about the UW rules for more than a handful of carriers....so having a place to turn for help is really needed in this industry to maximize your placement ratio. (aka $$)

Whether you like the approach/style or not, the "let me help you with your declines" guy can provide a valuable service if you understand up front that you are planning on splitting because you gave up on a case and have no where else to turn. However, the "hey, I have a guy on 60 units of insulin...where should I try?" question, in my opinion should be answered by anyone who uses these forums with something like "try MetLife, as they will go to 100 units"....realizing of course that there is always more to the story than just the 60 units. Maybe this was the sticking point earlier in the now deleted posts. Asking for help, and asking for someone to do part of your job for you is two different animals IMHO.

Personally, I use these forums to get and give honest answers to questions....and I would always be happy to share with other LTC folk things that I have learned along the way......in the hopes that others would reciprocate so we all win. I learn something new from almost every less than perfect health case I turn in to my carriers. I also do splits and referral fees with agents who simply are not knowledgeable enough to close the case on their own.

Let's all keep selling this stuff peacefully before the government ruins this business too. There are many people out there who need our help.

 

[CALTCAgent]

I think "never a dull moment" deleted his posts, not the moderator.

I wasn't trying to be adversarial with him at all. But I think I made some important points that might help others.

I also think since I experienced his services I can share my experiences and thoughts about the services.

I don't feel his services work exactly as advertised. He also didn't answer some very fair questions.


Thanks!

 

[Mr_Ed]

I think "never a dull moment" deleted his posts, not the moderator.

I wasn't trying to be adversarial with him at all. But I think I made some important points that might help others.

I also think since I experienced his services I can share my experiences and thoughts about the services.

I don't feel his services work exactly as advertised. He also didn't answer some very fair questions.


Thanks!

fyi... you haven't experienced my services. After 5 minutes on the phone with you I knew I didn't want to work with you. That's why I referred you to the other FMO. I was trying to give you a hint by posting that we can choose with whom we want to work. But, you didn't get the hint.

 

[CALTCAgent]

fyi... you haven't experienced my services. After 5 minutes on the phone with you I knew I didn't want to work with you. That's why I referred you to the other FMO. I was trying to give you a hint by posting that we can choose with whom we want to work. But, you didn't get the hint.

1. Where did your posts go?

2. I never had any contracts I was considering moving to you, what are you talking about?

3. If you didn't want to "work" with me, why did you refer me to your site, "turn declines into cash" the other day?

4. Can you post your "pre-approval" letters from the underwriters?

5. You sent me below street level contracts and I am on higher than street level, I couldn't work with you. Plus you wanted the 30% cut on top, to say "try with X company". I know "you don't work for free". Neither do I.

Thanks!

 

[katjohnson]

Hello,

I am up against the Federal LTC program and was wondering if anybody knew any competitive advantages I might have with individual LTC?

I noticed the premiums were quite a bit less for the Federal than what I could offer with a few companies I compared the Federal program with. Are they less than individual LTC?



Underwriting:

66 year old female, is a class 1 or uninsurable with most companies I have looked at.

5'-2", 207 lbs., type 2 diabetes, controlled oral meds, A1C below 7.

Would the Federal program take her?

Do they have Class 1?

Thanks!

The federal program is designed for those who wouldn't otherwise qualify for LTCi. As far as I know there is no underwriting, however she must be working for 3years and cannot claim for 5 years.

She is better served by opting to sign up for the federal program IMO but there are many more advantages for someone who is in good health to seek private coverage.

One of the goals of the CLASS Act is to encourage people to buy LTCi at a younger age.

 

[Mr_Ed]

The federal program is designed for those who wouldn't otherwise qualify for LTCi. As far as I know there is no underwriting, however she must be working for 3years and cannot claim for 5 years.

She is better served by opting to sign up for the federal program IMO but there are many more advantages for someone who is in good health to seek private coverage.

One of the goals of the CLASS Act is to encourage people to buy LTCi at a younger age.

kat,

You are confusing the CLASS Act with the group long-term care insurance policy available to federal employees, retirees, and annuitants.

CALTCAgent was asking his question about the group long-term care insurance policy that is available to federal employees, retirees, and annuitants.

Here is a link to the group LTCi policy that CALTCAgent was referring to:

Long Term Care Insurance for Federal Employees