- 19,647
Forester's Rate Increase???
- Thread starter wave828
- Start date
Yes Sr Life will take a insulin/pill diabetic on their super pref plan. I just got off the phone with the head underwriter at their home office. He also told me that there were no plans what so ever in raising their rates. As a matter of fact they are coming out with another plan that is even cheaper than their super preff.
So this one goes out to the one man dog and pony financial advisor genius. By the way how much money do you have under management? Let me think for a minute. 0!!!!!!!
So this one goes out to the one man dog and pony financial advisor genius. By the way how much money do you have under management? Let me think for a minute. 0!!!!!!!
Nobody sells this super duper pref plan anyway, its been on lock down as the commission are reduced to next to nothing for the agents..so the managers tell them not to sell it...
SL is going to have a rate increase and will continue to have them more then any insurance comp on this planet, I got that from several X SL agents..and there is a lot of em. The new rate increase is coming soon..stick that in your pipe
- 19,647
I think it's pretty obvious which of you is the clueless one.
- Thread starter
- #77
They were notified long before that. The rates are increasing and the application is changing.
The changes are effective end of July, so for Aug on the new rates and new underwriting will be in effect. The IMO's all say that they have been told by Foresters to not disclose the info to the agents until they do it themselves.
That must be true because every IMO/FMO says the same thing. Someone posted the rates here at the forum. I ca't vouch for the accuracy except to say that it matches what I was previously told. 2% to 13% increases. It's not one across the board increase the way a normal company would do it. It's different increases by bands.
Knowing Foresters they will probably make the announcement a week or so after the changes are implemented.
- - - - - - - - - - - - - - - - - -
Does anybody have any idea about what the application changes are going to be? I've heard a height and weight chart and perhaps some look-back changes (e.g. "Have you ever" as opposed to "In the last 'x' years").
Can anybody shed some light on these?
Us, IMO's are not allow to publish the new stuff yet. We will be any day now.
All states have approved the application and rate changes. Massachusetts, Missouri, North Carolina and West Virginia that previously only offered PlanRight Level now offer the Graded and Modified plans as well. Indiana has approved Modified Plan.
All states have approved the application and rate changes. Massachusetts, Missouri, North Carolina and West Virginia that previously only offered PlanRight Level now offer the Graded and Modified plans as well. Indiana has approved Modified Plan.
Outside of the rates, there isn't much exciting with the changes. They shorten the app but all they did was separate required notices and the EFT paper. You need them all anyhow for a sale so you still have the same amount of paper when going to the clients house regardless, now you just have to remember all the pieces instead of a single app.
