Forester's Rate Increase???

[jacobtn]

No. The quotes were given to me over the phone. That was $1.50 more per month for $10,000 face on a 65 year old.

The app changes I saw a while back were not all that serious. Some questions that are 2 year lookback are now asked "ever?".

The rates for non smokers are not really changing but aboyt 2%. Smoker rates will not be competitive with Americo for example. I was getting this stuff verbally while driving so I didn't get a lot of details.

ah, interesting. thanks for sharing that. so who will you look to for your smokers? RNA, Americo or ACI? Assuming they are healthy? I have a hard time using a carrier as a primary company that doesn't have a POS approval. That one in 10 that gets declined or rated takes up after the fact takes too much time chasing down later, if you even can.

 

[jdeasy]

ah, interesting. thanks for sharing that. so who will you look to for your smokers? RNA, Americo or ACI? Assuming they are healthy? I have a hard time using a carrier as a primary company that doesn't have a POI approval. That one in 10 that gets declined or rated takes up too much time chasing down later, if you even can.

I'm pretty much Americo for smokers now. I write very little Foresters. Although I did write two of them today while getting this news. Both were on furosemide and not good for RNA.

RNA is not the place for smokers. Well, male smokers anyway. They are not terrible for female smokers.

AmCon's smoker rates are pretty good. I will just use them and Americo as I do now.

I'm the opposite on the POS interviews. I hate them with a passion and will use a company that does not have one if everthing else is equal. My RNA business has really dropped off since they went to the POS.

 

[FEX Quotes]

It's been verified to me by two other sources that there is indeed a rate increase with Foresters. I haven't seen the new rates or know how much of an increase it is, but good riddance really.

The rate increase is not as bad as expected. It's about $1.50/mo more for level coverage on both female and males non smokers. It is pretty bad for smokers. $5 to $7/mo. more for smokers. Higher rate increase on the graded and modified.

Coupled with the new app these will be some pretty big changes.

Just got a peek at the rates myself and the increases are all over the map. I am seeing 2%-15%. Haven't had much time to figure where they are aiming but one thing is for sure and that's they are not going to be buying up this market based on premium.

 

[jacobtn]

I'm pretty much Americo for smokers now. I write very little Foresters. Although I did write two of them today while getting this news. Both were on furosemide and not good for RNA.

RNA is not the place for smokers. Well, male smokers anyway. They are not terrible for female smokers.

AmCon's smoker rates are pretty good. I will just use them and Americo as I do now.

I'm the opposite on the POS interviews. I hate them with a passion and will use a company that does not have one if everthing else is equal. My RNA business has really dropped off since they went to the POS.

you aren't worried about someone getting rated to protector 3?

I also am a little worried about someone who "forgets" a condition and gets approved, then dies in the contestible period. I am not as worried when a POS interview is done, because they have the tape with their answers recorded. Plus I know they are approved and don't have to wonder, because we all know of cases that should have been issued that get rated or declined because of MIB hits.

I agree it takes way too long for the PHI (Foresters is ridiculously long), but I see those two benefits as being quite important.

I sold someone 2 weeks ago Monumental because of their age (Monumental was cheaper because he was 85 then anyone else I had). They decided they wanted to do a PHI on him after they got the app. Problem is, he fishes a lot during the summer and I had a hell of a time tracking him down to do the interview. Finally got it done today.

 

[Rearden]

UGH -- that's why I hate MONU -- please make an optional PHI -- they always randomize the PHIs for the ones who don't pick up the phone, can't manage money, etc...

you aren't worried about someone getting rated to protector 3?

I also am a little worried about someone who "forgets" a condition and gets approved, then dies in the contestible period. I am not as worried when a POS interview is done, because they have the tape with their answers recorded. Plus I know they are approved and don't have to wonder, because we all know of cases that should have been issued that get rated or declined because of MIB hits.

I agree it takes way too long for the PHI (Foresters is ridiculously long), but I see those two benefits as being quite important.

I sold someone 2 weeks ago Monumental because of their age (Monumental was cheaper because he was 85 then anyone else I had). They decided they wanted to do a PHI on him after they got the app. Problem is, he fishes a lot during the summer and I had a hell of a time tracking him down to do the interview. Finally got it done today.

 

[jdeasy]

you aren't worried about someone getting rated to protector 3?

I also am a little worried about someone who "forgets" a condition and gets approved, then dies in the contestible period. I am not as worried when a POS interview is done, because they have the tape with their answers recorded.

I agree it takes way too long (Foresters is ridiculously long), but I see those two benefits as being quite important.

I sold someone 2 weeks ago Monumental because of their age (Monumental was cheaper because he was 85 then anyone else I had). They decided they wanted to do a PHI on him after they got the app. Problem is, he fishes a lot during the summer and I had a hell of a time tracking him down to do the interview. Finally got it done today.

Yeah, I do get people changed to UPIII. Of course none of them will accept that. I just go rewrite it. I had to do a rewrite today on one that was changed to UPII. I'm going to be back in the area running appointments anyway. It doesn't bother me to go back. It helps to cement the deal when I can get them covered elsewhere. I can't remember one that I've had to rewrite ever falling off the books.

I do like the CYA part of the phone interview. I did one last week when I could have put him with a company that doesn't do interviews but I just had this gut feel that he wasn't telling me the truth. Doing the POS got it on the record of what he told me.

Monumental is a bear to deal with anyway. I do use them for older clients because they are really good ratewise for the over 80 folks. They haven't pulled too many phone interviews on me. maybe two over the last year?

I just hate the process of the phone interviews. Repeating things over and over that have nothing to do with the health questions. I run 6 appointments in a day. I do not have time to do the phone interviews and stay on schedule. Especially when it's a husband and wife and you have to do two of them.

I wish all companies did it like 5 Star Life. You can do the POS and get an immediate answer or you can send it in for traditional underwriting.

If it was like that with everyone I would do the POS when I had time and in replacement situations where I need to know now. The rest of the time I would just send it in. That's how an agent friendly company would work.

Too bad there are not more of them.

 

[Newby]

Yeah, I do get people changed to UPIII. Of course none of them will accept that. I just go rewrite it. I had to do a rewrite today on one that was changed to UPII. I'm going to be back in the area running appointments anyway. It doesn't bother me to go back. It helps to cement the deal when I can get them covered elsewhere. I can't remember one that I've had to rewrite ever falling off the books.

I do like the CYA part of the phone interview. I did one last week when I could have put him with a company that doesn't do interviews but I just had this gut feel that he wasn't telling me the truth. Doing the POS got it on the record of what he told me.

Monumental is a bear to deal with anyway. I do use them for older clients because they are really good ratewise for the over 80 folks. They haven't pulled too many phone interviews on me. maybe two over the last year?

I just hate the process of the phone interviews. Repeating things over and over that have nothing to do with the health questions. I run 6 appointments in a day. I do not have time to do the phone interviews and stay on schedule. Especially when it's a husband and wife and you have to do two of them.

I wish all companies did it like 5 Star Life. You can do the POS and get an immediate answer or you can send it in for traditional underwriting.

If it was like that with everyone I would do the POS when I had time and in replacement situations where I need to know now. The rest of the time I would just send it in. That's how an agent friendly company would work.

Too bad there are not more of them.

That's what I really like about 5-Star too. I like to do the phone interviews most of the time but if time doesn't permit, it's nice to have the option.

They also stay on track with the health questions. If a person can honestly answer no the way the app is written, it will be issued.

Great company.

 

[wave828]

Seems like my little birdie was correct...
- - - - - - - - - - - - - - - - - -

I just hate the process of the phone interviews. Repeating things over and over that have nothing to do with the health questions. I run 6 appointments in a day. I do not have time to do the phone interviews and stay on schedule. Especially when it's a husband and wife and you have to do two of them.

I wish all companies did it like 5 Star Life. You can do the POS and get an immediate answer or you can send it in for traditional underwriting.

If it was like that with everyone I would do the POS when I had time and in replacement situations where I need to know now. The rest of the time I would just send it in. That's how an agent friendly company would work.

Too bad there are not more of them.

With RNA, you can do the application, send it in and the company will do the POS call when they receive the app. You dont have to be present for the POS call.

 

[Newby]

Seems like my little birdie was correct...
- - - - - - - - - - - - - - - - - -

With RNA, you can do the application, send it in and the company will do the POS call when they receive the app. You dont have to be present for the POS call.

That's a good option to have.

With 5-Star if you choose to not do the phone interview, they usually don't do one at all. They issue based on the app and MIBs most of the time. It speeds things up. Some people screen all their calls and will never answer their phone.

 

[jdeasy]

Seems like my little birdie was correct...
- - - - - - - - - - - - - - - - - -


With RNA, you can do the application, send it in and the company will do the POS call when they receive the app. You dont have to be present for the POS call.

I know that, but they are going to do the interview 100% of the time. The RNA interview is already the most difficult one out there. I do not want to have it done when I'm not present. I have done that on two occasions, but it was just the only way to get it done.

With 5 Star you can do the POS and get an immediate decision or you can send it in for traditional underwriting. They always reserve the right to do an interview, but in almost all cases there will not be one.