Life Insurance for Obama Care

[TwiLight]

What are your thoughts on Standard Life & Accident/ANICO's term compared to Sagicor and Foresters?

SLAICO's term is exactly the same as ANICO's..... just pays 5% less at each level. Pricing is great at higher full med levels and I sell quite a bit at $500k +. It is competitive for non-med. I would use Transamerica over them.... Price, underwiting and comp is much better at Trans.

Overall comp is much lower and underwriting will be too slow for what the OP is lloking to do.

Skipper

 

[HowdyDoody]

SLAICO's term is exactly the same as ANICO's..... just pays 5% less at each level. Pricing is great at higher full med levels and I sell quite a bit at $500k +. It is competitive for non-med. I would use Transamerica over them.... Price, underwiting and comp is much better at Trans.

Overall comp is much lower and underwriting will be too slow for what the OP is lloking to do.

Skipper

I knew they were the same. What about Sagicor? Does it issue fast? I think Foresters premiums are higher than SLAICO's aren't they? Thanks for the info.

 

[TwiLight]

I knew they were the same. What about Sagicor? Does it issue fast? I think Foresters premiums are higher than SLAICO's aren't they? Thanks for the info.

Sagicor is very quick to issue about 70% of clean cases... no basic meds, etc. Though not a good company for the low income and the agent in most cases. They have a tough chargeback policy in the first year to the agent on lapses.

Foresters is a higher priced non med plan, though underwriting is liberal and will take many more cases at standard rates than would Sagicor.

Ex: HBP meds throw a wrench in a Sagicor case and may get a rated plan or declined without taking your case to full medical. Foresters is easy with HBP and if controlled would get a standard rate.... also Foresters will accept recreational and medical marijuana and Sagicor would not just to name a few examples of why the lowest quote is not always the best plan....field underwriting is crucial in getting term cases through underwriting.

Skipper

 

[somarco]

I saw something on the news that the new minimum wage is causing issues with freebies. The example was a person now making an extra $1,000. a month could lose foodstamps. So they are asking the employer to schedule them to less hours. Not, taking the extra and buying their own food but working less hours to keep the freebie. What?

The $15/hr thing in Washington (state, not DC) isn't working out so well. You probably saw this.

“If they cut down their hours to stay on those subsidies because the $15 per hour minimum wage didn’t actually help get them out of poverty, all you’ve done is put a burden on the business and given false hope to a lot of people,”

Seattle sees fallout from $15 minimum wage, as other cities follow suit | Fox News

 

[HowdyDoody]

Sagiicor is very quick to issue about 70% of clean cases... no basic meds, etc. Though not a good company for the low income and the agent in most cases. They have a tough chargeback policy in the first year to the agent on lapses.

Foresters is a higher priced non med plan, though underwriting is liberal and will take many more cases at standard rates than would Sagicor.

Ex: HBP meds throw a wrench in a Sagicor case and may get a rated plan or declined without taking your case to full medical. Foresters is easy with HBP and if controlled would get a standard rate.... also Foresters will accept recreational and medical marijuana and Sagicor would not just to name a few examples of why the lowest quote is not always the best plan....field underwriting is crucial in getting term cases through underwriting.

Skipper

Thanks Skipper.