Guaranteed Issue AIG,Gerber

[noah]

I don't write this kind of business,but recently I am flooded with plenty of opportunity. I am interested to hear from those agents who do write this kind of business.

1.Persistency : How long does it stay on the books ?
2.Direct Express business : Which company does it right ?
3.Persistency of DE business vs. bank draft ?
4.Chargebacks : Which company is worse ?
5.Customer Service : Which one does it right ?

 

[DayTimer]

I don't write this kind of business,but recently I am flooded with plenty of opportunity. I am interested to hear from those agents who do write this kind of business.

1.Persistency : How long does it stay on the books ?
2.Direct Express business : Which company does it right ?
3.Persistency of DE business vs. bank draft ?
4.Chargebacks : Which company is worse ?
5.Customer Service : Which one does it right ?

The more I write this business, the less I write this business. I have really followed JD's advice here, especially lately, and for the real sick folks, I send them to MOO direct. If, on the other hand, it is GI because of an Alzheimer's medication, or HIV, current Hep C, I'll write it with AIG. But if the person you are looking at looks like they are already one foot in the grave, or they tell you they have less than 12 months, less than 3 months or whatever to live, it is just a charge back upon death waiting to happen, imho.

I have had several Direct Express AIG cases, and only one lapsed (AIG screwed up the draft in September due to Labor Day) and another one will charge back soon because the insured died. She is my first death. Real nice lady who was GI because of COPD with O2. She had just moved with her daughter, and I spoke with her about a week ago to help her change her addresss with AIG. Got the call on Monday or Tuesday from her daughter that she passed away in her sleep. Her daughter won't get much from the policy as it was only 7 or 8 months old, but she was very grateful for the little that would be coming her way in the form of return of premium. Her mother was a very nice lady, and this is my first death. I have to tell you - it sucks.

 

[Life Hawk]

You may also take a look at Great Western...

Keep this sort of business to a minimum...

Always be very frank and upfront with your client...

...as daytimer mentioned... if they are just waiting for the body bag to be zipped up... think twice...

 

[Baseball7]

GI should only be 5-7% of your business. With graded options for Oxygen, UHL for dementia, very little (hiv, esrd) has to go Gi.

 

[noah]

Once again,this thread is strictly about the questions in regards to AIG and Gerber,how these two companies perform for the client,agent.
Too many threads have beat to death whether to write,percentage of your business.
Day Timer is on the right track.

 

[Baseball7]

Gerber Customer service is much stronger, the E application is much less trouble. Neither company is perfect but it’s not a fair comparison when you’re selling the least relable clients a products. Call me a gig but the fact that Gerber Life still doesn’t send out marketing materials is what annoys me about them.

 

[FinalExpenseDojo.com]

I don't write this kind of business,but recently I am flooded with plenty of opportunity. I am interested to hear from those agents who do write this kind of business.

1.Persistency : How long does it stay on the books ?
Not as much as others but if you get paid as earned you don't have to worry.
2.Direct Express business : Which company does it right ?
Both take forever to issue. AIG used to like to draft first premium upfront but not sure if they corrected that.
3.Persistency of DE business vs. bank draft ?
Truly depends on if you're the type of agent to track people down when they miss a payment. If not then your DE biz will be very very low.
4.Chargebacks : Which company is worse ?
In terms of their chargeback rules, AIG is better. Again, just put yourself on as earned.
5.Customer Service : Which one does it right ?
To be frank both could improve. In my opinion they are equally lacking in this area...But then again how much do you or your clients need customer service?

Replies in bold. Hope that helps!!

 

[mudhound]

It took me almost a year to be able to write it. AIG
Now, I sort of like them. did not like the new rates.

 

[senior-advisor-indiana]

It took me almost a year to be able to write it. AIG
Now, I sort of like them. did not like the new rates.

I wrote AIG this week and notice that they actually charge more per thousand at 16k+ face amounts.

 

[MosesNewmanNAAIP]

My brokerage dept specialize in these policies.