I Heard Genworth is Going to Increase Their Rates Summer or Fall
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Re: I Heard Genworth is Going to Increase Their Rates Summer or F
are you talking about new business rates or in-force policy rates?
are you talking about new business rates or in-force policy rates?
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- 7,066
Re: I Heard Genworth is Going to Increase Their Rates Summer or F
Rumors run rampant in this business. I take them all with a grain of salt.
Very seldom will an agent be informed of an increase until just before the company announces the increase.
I would never decide to sell or not sell for a company based on rumors.
I embrace premium increases. Without them I wouldn't have anything to sell.
Rumors run rampant in this business. I take them all with a grain of salt.
Very seldom will an agent be informed of an increase until just before the company announces the increase.
I would never decide to sell or not sell for a company based on rumors.
I embrace premium increases. Without them I wouldn't have anything to sell.
Re: I Heard Genworth is Going to Increase Their Rates Summer or F
Genworth will be replacing Classic Select and Privilaged Choice later this summer with new products with different features.....and you can safely assume the rates for current coverages will be higher than today. Hopefully they will pick up some of the AARP plan features and some other selectable options to allow more choice to help control costs.
Not sure if that is what you heard. Else, they have filed for all their rate increases on existing plans through 2011-2013
This is my understanding simply by calling the broker support phone number.
Genworth will be replacing Classic Select and Privilaged Choice later this summer with new products with different features.....and you can safely assume the rates for current coverages will be higher than today. Hopefully they will pick up some of the AARP plan features and some other selectable options to allow more choice to help control costs.
Not sure if that is what you heard. Else, they have filed for all their rate increases on existing plans through 2011-2013
This is my understanding simply by calling the broker support phone number.
- 657
Re: I Heard Genworth is Going to Increase Their Rates Summer or F
"I embrace premium increases. Without them I wouldn't have anything to sell."
Well, that's seeing the glass half full. I like that.
I am a Genworth Career Plus agent that is also AARP authorized, and I haven't heard anything about this. Of course, as someone pointed out earlier, I will probably be the last to get the news. Go figure Corparate America!!
"I embrace premium increases. Without them I wouldn't have anything to sell."
Well, that's seeing the glass half full. I like that.
I am a Genworth Career Plus agent that is also AARP authorized, and I haven't heard anything about this. Of course, as someone pointed out earlier, I will probably be the last to get the news. Go figure Corparate America!!
- 7,066
Re: I Heard Genworth is Going to Increase Their Rates Summer or F
I have actually had a company increase their rates and I found out from a client who called wondering why their premiums went up so much.
Talk about embarrassing! I finally got a notice from the company a week or two later. We get treated like red-headed step children.
"I embrace premium increases. Without them I wouldn't have anything to sell."
Well, that's seeing the glass half full. I like that.
I am a Genworth Career Plus agent that is also AARP authorized, and I haven't heard anything about this. Of course, as someone pointed out earlier, I will probably be the last to get the news. Go figure Corparate America!!
I have actually had a company increase their rates and I found out from a client who called wondering why their premiums went up so much.
Talk about embarrassing! I finally got a notice from the company a week or two later. We get treated like red-headed step children.
- 10,323
Re: I Heard Genworth is Going to Increase Their Rates Summer or F
I just got a call from a client whom I proposed a 401k plan to.
He just saw a press release this morning on CNBC about a new feature that plan has on it, and wanted to know more.....
Fortunately I had my laptop up and running and was able to find the press release while I made small talk.....
The wholesaler is coming next week.... maybe he is coming to tell me about it a week after it is announced to the public... rrrrrrrrrrrrrr
I just got a call from a client whom I proposed a 401k plan to.
He just saw a press release this morning on CNBC about a new feature that plan has on it, and wanted to know more.....
Fortunately I had my laptop up and running and was able to find the press release while I made small talk.....
The wholesaler is coming next week.... maybe he is coming to tell me about it a week after it is announced to the public... rrrrrrrrrrrrrr
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Re: I Heard Genworth is Going to Increase Their Rates Summer or F
The reason I made this thread is because of this:
I signed a client with Genworth Long-Term Care a couple weeks back and she stated that in no way does she want this to go in to effect until August 15th which then she will pay an annual premium (of course she did not tell me this until a couple of days after I submitted it).
I told my GA that and he warned me he heard that Genworth will be increasing their new business in Summer or Fall.
My questions and concern is, if she already did the application and signed it and we sent it in BUT she requested, which I sent a cover letter after the fact, for it NOT to go in effect until August 15th. If the increase happens before August 15th, will my client be locked into the old prices since the application is already finished and sent in or will she get the "new business" increase?
My GA did not know and that is why I am turning to you guys.
The reason I made this thread is because of this:
I signed a client with Genworth Long-Term Care a couple weeks back and she stated that in no way does she want this to go in to effect until August 15th which then she will pay an annual premium (of course she did not tell me this until a couple of days after I submitted it).
I told my GA that and he warned me he heard that Genworth will be increasing their new business in Summer or Fall.
My questions and concern is, if she already did the application and signed it and we sent it in BUT she requested, which I sent a cover letter after the fact, for it NOT to go in effect until August 15th. If the increase happens before August 15th, will my client be locked into the old prices since the application is already finished and sent in or will she get the "new business" increase?
My GA did not know and that is why I am turning to you guys.
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