Health Insurance Apps with "no money down"?

[Crabcake Johnny]

What I used to have is clients backing out from signing the riders even after they agreed. Now they find out it's 30 days to get a refund and they're be mad. On top of that, most people aren't thrilled with their account being drafted before the plan's been approved. Neither am I. You have MIB hits, APS's and other deal killers and the client shouldn't have to put money down. If there's an unexpected adverse decision I'll recommend another company and just make that app dead. Not an issue when no money's been taken. Big issue when money's already been taken.

And that's the point with the way GR does business. They want to take the client out of the market. If a bad decision comes down and the broker wants to put them with another company now the client could be out two premiums before they get the GR premium refunded.

 

[somarco]

I have no problem asking clients for money with app. If they wont give you money with the app, you really don't have a deal.

Old habits are hard to break. Money means a commitment to doing business.

 

[Crabcake Johnny]

I have a deal regardless. I'd much rather the draft occur after the decision. Again, if the decision is bad I'm not going to recommend my client accept the offer. That's why I'm a broker. I juggle people all the time - Aetna says 25% then hits 'em with 75%? No deal. GR says a condition probably won't get a rider yet it gets ridered? No dice. Assurant says it'll be a CDS but ends up issuing a rider? Nope. In those cases I don't want people waiting for a refund.

I also had clients with no problem telling me they'd sign the GR rider. Then it comes with their policy and after they read it decide not to take it. Clients shouldn't pay until the company reaches their verdict.