Florida Med-Supp Agents....
- Thread starter Russ
- Start date
- Thread starter
- #42
AARP filed new applications for the med-supp products, April 16th. It's from 6-8 different applications....varying from applications for the hard of hearing...to one's to use for groups...to broker applications.
They had had a conference call with the DOI last week on this. If you write for AARP you've got til about Saturday to submit applications and they're out...in Florida.
Considering it has yet to be approved and...when it is...it takes a couple of weeks to get everything set up and sent out, it looks like mid to late May before they will be receiving modernized apps. in Florida.
They should have filed for this product sooner, vs. waiting til February 26th. Maybe they did file sooner, but I don't recall seeing it.
If your "antsy" people are for June 1st effective dates, maybe look at an alternative or risk losing the business.
And one more thing...if Mutual of Omaha's release of the modernized plans in Florida was last week, which it was, I never got any notification of it...in the mail or email from the company. Yeah...it shows approved in Florida on their website and you can order Florida materials, but no official release or announcement...for Florida. One of the most populated 65+ in the nation. O...kay.
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gdoty
Expert
- 58
Just about everybody will be more competitive than Colonial Penn. Bankers partnered with them on Med Sups this year to gain brand awareness since more people had heard of CP than B. Problem was, as I understand it, CP when they use to sell med sups had a terrible claims history. When FL looked at history to set the new rates June 1st, they now were looking at CP's bad history (& no history since they haven't sold med sups for a while) instead of B's good history. Ergo the higher rates. Talk about bad timing, partnering with CP... Sort of shot themselves in the foot (or both feet). With B, the low med sup price (at 65) was the hook to get the sale & get in the door for cross selling. Not any more..... They might have a chance with the N plan before AARP comes out, but I think their N plan will be lower $ when it hits the street. And I don't think MoO's N plan has hit the street yet either. Better hurry B agents, the clock is ticking!
gdoty
Expert
- 58
In the S FL area the pre June 1st prices were lower than most everyone, even AARP and only the MoO female non smoker was any real threat. (that's not counting the group plans - mennonite, teachers, managers etc. that you have to be a member of to get the discounts).
- Thread starter
- #46
Just got approved in Florida for the modernized plans....effective April 30th, 2010.
- Thread starter
- #48
It may be a few days before they're available on the website. I could be wrong though.
- 7,066
That's $210 per year for six years ($1,260)!
I have a Florida license. If you are "getting out of the business" please send me all the prospect info you have and I will gladly write apps all day every day for that amount of commission.
Or you could move to Missouri where the commissions are really huge.
