- 5,933
Too bad, that would have been a day brightener every time I saw it. Jam on man.
Great western has new fe product effective April 20
- Thread starter Fire
- Start date
Too bad, that would have been a day brightener every time I saw it. Jam on man.
I don't write much national security. Copd is graded . 1 year look back on cancer for graded which is good . Home office asks the questions you asked applicant. You fax in app and they run mib and rx and make decision . Smoker/ Ns same rate . When I run into tougher cases i automatically try Rna first . If it gets declined I immediately wrote Gtl . There's no underwriting on Gtl even though they ask 6 questions . They check nothing . There trusting the agent ti be honest . It's rop first yr and 50% db second yr . I bet I've written 30 in the last 12-15 months .
- 1,832
The questions I was asking pertained strictly to GTL……
Instant decision ?
Easy E App ?
Good customer/agent service ?
- 5,044
Yes
Awesome customer service . They answer almost every time on first ring .Approved every time even if you lied on app as zero underwriting. Eapp super easy . If you want client to have physical policy which I do every time you must call In the next day after issue and tell them to mail one out .Also which few know after the first draft they allow credit cards or direct express . They've come in very usual for me . They also have the best hospital plan on the mkt for mapd cap situations . I wrote a lot of that .
- 5,044
I may not be an expert in FE, but this can't end well in the long run
It's not what it seems . The premium is as high or higher than GI's at Gerber and aig . The liability they do have is that second yr death benefit of 50% . In regards to that they surely pull records on 2nd yr claims . So people agents or people who lied it wont pay . So the only real liability greater than a true GI is legitimate 2nd yr claims .
- 1,832
How is GTL priced in comparison to GW GI ?
Interested to see the price point on the new GW product in comparison to GTL.
- 5,044
But obviously their pricing assumptions are not collecting enough premiums to pay all claims in year 3 or 4. Plus, knowingly lying on am application by the owner or the agent can be a crime of insurance fraud
My point is this won't end well in the mid to long term if agents & clients are getting policies through lying that they wouldn't have otherwise gotten. And, if the agent is replacing existing coverage it makes it even a bigger risk for the insured.
It's priced as a GI product . In reality it has a 2 yr wait just like Gerber and aig . So the profibility should be similar . But the one advantage GTL has is many agents will be honest and the product will have much less early death. Aig and Gerber accept all so much higher mortality.
