Golden Rule PLATINUM Vs STANDARD Plans... What Are You Selling???

Apr 14, 2010

  1. El Capitan
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    El Capitan Expert

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    hello
    first posting here on the forum and fairly new life/health agent. glad for the opportunity to post here.

    would like to ask those who are selling GR

    what plan are you selling the most ?


    for my GR contract
    i get 21% for the platinum plan (w/ 12mth no interest advance)

    for the standard plan
    (which my wife is signed up to sell - enabling us to offer both plans to our clients)... she gets an 18% commission (interest free 12 mth advance)

    as i understand it
    agents can only be contracted for one or the other plan to sell... which is why i am contracted for one and my wife the other.



    Below is a brief description of the differences:

    Platinum: Pays higher commissions, has $1,000 less in coinsurance on the 80/20 option, has a $35 application fee (refundable if primary or dependent is denied coverage and they don’t take the policy), and is about 8-10% more expensive. It also has more options to add and remove benefits like copays and drug coverage and has a built in lifetime max of $6 million.

    Standard: Pays about 2-3 points less in commission, has a 100% plan option that Platinum does not, no application fee and is 8-10% cheaper. These plans are not as easy to customize as they offer considerably less options and they only include a $3 million dollar lifetime max. They also have a plan with 100% coinsurance which the Platinum does not. Another thing to consider is that if your client does research on their own and goes online to quote Golden Rule, these are the rates they will pull


    the thing i dont like is the $35 application fee
    on the platinum plan... dont like having to explain to the client they have to pay to apply for health insurance???



    thanks

    regards
     
  2. HealthGuy
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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    This is the type of BS that 2nd tier carriers dabble in. United should be ashamed of themselves.
     
  3. scagnt83
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    scagnt83 Worldwide Expert of Everything

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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    Are you contracted directly or through a GA/IMO, etc?
    What state are you in?
    All of this matters. I dont think GR has two separate product lines in SC..
     
    scagnt83, Apr 14, 2010
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  4. Crabcake Johnny
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    Crabcake Johnny Guru

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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    I just ran a quote for both: 2113 zip code, single male 42 Copay Select with a $2,500 deductible

    Platinum: $160.03 - limit to 4 doctor visits at at $35 copay with a $500 deductible for name brand drugs. Preventative has a 6 month waiting period. Non-refundable application fee of $35.

    Gen24: $168.08. Unlimited doctor visits, 3 month wait on preventative, $200 drug deductible and no application fee.

    So Gen24 is in my opinion the superior plan.
     
  5. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    No brainer there. I also do NOT sell the platinum plan. Even if it paid 10% more in commissh, I wouldn't.
     
  6. eza4short
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    eza4short Expert

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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    you have a 12 month advance with Goldenrule at 21% or did i read that wrong
     
  7. 2112Greg
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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    AFAIK, the same goes for Tejas.
     
    2112Greg, Apr 14, 2010
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  8. dgoldenz
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    dgoldenz Moderator Moderator

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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    Lifetime max will be unlimited soon anyway. If you can prove production of 40+ apps the year before from all companies, you should be able to get 22-24% with GR for the regular plans. Don't know much about the Platinum.
     
    dgoldenz, Apr 14, 2010
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  9. Crabcake Johnny
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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    I would also never sell Platinum, even for a raise in commission.
     
  10. HealthGuy
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    Re: Golden Rule PLATINUM Vs STANDARD Plans... What Are You Sellin

    The popularity of this Platinum crap proves that the majority in the health biz could give a rats ass about what the hell they are selling people.
     
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