Loyal American

[Jawbreaker]

Got a e-mail that from Loyal American that they will only pay 5 % commission on any guaranteed issue enrollment from a M.a.p.d.. So they will pay 29-34% on anything else but not S.e.p So much for Loyal and S.e.p enrollments. Wonder what other companies will follow suit? I can see this as a way for them to stick it to us again. Sorry to be the bearer of bad news. Been on here for a few years, first post. Thanks for all the info.

 

[medicarebenefitsdirect]

Typically, I have found that the Great American companies do not manage their blocks of business well. They had Provident American not long ago and it too HUGE increases after two years. Loyal American is a little better. I know what Mutual of Omaha is paying full commissions on the /Medicare Advantage customers. Good luck!

 

[G.Gordon]

Seems like descrimination to me. A few companies have in the past reversed their decision to reduce commissions on GI cases or those over a certain age. I thought it due to DOI action, but now I see more and more companies doing it. I may call the MO DOI and ask about this. Think about it...

If you reduce commissions on a certain group/class of the senior population are you not reducing the choices that group/class have access to?

I say yes. By reducing commissions on a group/class basis you limit the exposure to choices for those members of the population that depend on an agent for representation.


And to be honest with you. Those companies with the lowest commissions are the ones that get our junk cases. Dialisis, oxygen, etc..... low commission vs. a higher commission company if they are priced close... the low commission company gets it.

 

[Newby]

Seems to me this would only affect thier captive agents. The independent ones will simply place that business elsewhere.

 

[InsureGuy5]

The Great American family does offer some competitively priced products in the Medicare Supplement market. They do have quite a few rates to sift through - so quoting can be a little tedious.