Just Signed One Up for Equitable, and Boom Next Month is a 12% Rate Increase

[Justin Bilyj]

Have you ever signed up med supp clients and then find out the company you signed them up with (Equitable) hit them up with a 12% rate increase the next month?
What do you say to them to blunt the edge? Might be a good time to go into plan G again, even though they are one of those clients that said they only want plan F...

 

[VolAgent]

Doesn't Equitable give a 12 month rate lock? If so, they won't feel it until next year and who knows who else will raise rates during the meantime.

 

[Justin Bilyj]

I thought so too, but the sample letter said to all policy holders. Clarification would be great on the matter.

 

[VolAgent]

Stop assuming.

Equitable will list all correspondence to sent to the policy holder. No correspondence, then they didn't get a letter. Also, you can always just call them and ask.

 

[Justin Bilyj]

 

[goillini52]

Stop assuming.

Equitable will list all correspondence to sent to the policy holder. No correspondence, then they didn't get a letter. Also, you can always just call them and ask.

That's correct. Under the Support tab on their site, you can click on Policyowner Correspondence and see any correspondence. Also 12% seems like a big increase for Equitable.

 

[somarco]

What was the original date for the Eq rates in your state?

 

[jbage007]

Seriously now fellas, are you that gullible? Are you that lazy that you cannot do your own due diligence before recommending a carrier?

This is exactly what you should expect from a company that is so unstable financially that it cannot cannot garner anything higher than a B rating from AM Best.

caveat emptor

 

[goillini52]

Seriously now fellas, are you that gullible? Are you that lazy that you cannot do your own due diligence before recommending a carrier?

This is exactly what you should expect from a company that is so unstable financially that it cannot cannot garner anything higher than a B rating from AM Best.

caveat emptor

Yes, they're sooooooooo unstable that they've had Medicare Supplements since Medicare started. They haven't folded yet with that B rating. How's MoO doing with that A+ ....very stable premiums...hahaha!

 

[somarco]

Anyone that relies on AM Best ratings as their guide is a fool. This is especially true in the Medigap business. Just shows how uninformed some agents are.

But speaking of top rated Medigap carriers, how is AFLAC doing these days?