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Hey bud, if you need a good underwriting cheat sheet you can download mine at the link below. It has 104 niches.
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HELP with 52 year old: Looking for first day coverage
- Thread starter FEAGENTMAN
- Start date
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- 5,947
FEAGENTMAN, have you ever worked with Great Western? What are your thoughts?
- 924
Is this guy a troll?
How could anyone possibly think any insurance company would offer first day coverage to someone with these health issues?
How could anyone possibly think any insurance company would offer first day coverage to someone with these health issues?
This scenario is what I do not like about selling FE. We are damned if we do and damned if we don't. We bust our butt to possibly help the guy out and are able to find a company who will give him level coverage from day one. If the guy then happens to die within the first two years, the company can then order medical records and in their eyes find an excuse to not pay the claim. They don't even have to share what they find with us because of HIPPA laws. Basically their claim to us is they found a loophole.. They then return payments to the insured and charge us back 100% of our commissions; because of a null and void contract. The only ones who lose in this scenario are the agents. The client, according to the insurance company, should have been written graded or modified. Bottom line is, according to the insurance company, the client got what they deserved.
They are essentially putting the onus on us to determine whether or not the guy deserves level coverage, yet they are the ones privy to the MIB.
More and more I find myself taking the easy way out by writing them graded and moving on to the next one. So it appears as if I my time would be better spent by searching for companies who will pay full commissions on a grade product; than shot gunning an app all over town in hopes of getting him bought preferred. It would certainly lower chargebacks.
They are essentially putting the onus on us to determine whether or not the guy deserves level coverage, yet they are the ones privy to the MIB.
More and more I find myself taking the easy way out by writing them graded and moving on to the next one. So it appears as if I my time would be better spent by searching for companies who will pay full commissions on a grade product; than shot gunning an app all over town in hopes of getting him bought preferred. It would certainly lower chargebacks.
- 5,947
In a sense, its like the horse races... careful how you bet on the "old gray mare".
- 5,947
Nice thing about the insurance race (as it pertains to the client... "old grey mare") you don't have to be the quickest across the finish line to win, as-a-matter-of-fact, to us agents, the slower the horse, the more we make.
Disclaimer: I have many wonderful "old grey mares" in my barn and wish them all well.
I received notice today that an "ole grey mare" passed away on Monday. the "mare" was 76 and had Diabetes, insulin. It is now in the hands of Foresters. The policy was written on 7/16/16. Here's to not having to give back the hay they already gave me, that has already been eaten.
