Mass Mutual Med Sup

[SouthernComfort]

does anyone have any info on this? And is it offered through any FMO?

 

[somarco]

That's a shock. Never expected to see them in the market.

Medicare Supplement Insurance - MassMutual

Middle of the road pricing in Georgia. CSG indicates in the Medicare market almost a year. Talk about flying under the radar.

Have you run into them recently?

 

[sshafran]

does anyone have any info on this? And is it offered through any FMO?

I reached out last year (Dec 2017) to the guy who runs their "brokerage" side in OH, and was told "no" - it's for their internal-agents only.

Too bad - I'd love to sell their med supp...

 

[goillini52]

That's a shock. Never expected to see them in the market.

Medicare Supplement Insurance - MassMutual

Middle of the road pricing in Georgia. CSG indicates in the Medicare market almost a year. Talk about flying under the radar.

Have you run into them recently?

Same here. Been here since last August. They didn't come out with guns a blazing...middle of the pack here too.

They also came out with GI FE about 2 years ago, advertizing on T.V.

Looks like they're branching out, without trying very hard. I don't know if the Med Supp is for their captive agents or not.

 

[somarco]

Mass used to have career agents, but not captive like NYL. A lot of things have changed since the merged (acquired?) by . . . New England?

They do/did have a direct to consumer life policy. Maybe a couple.

Can't figure out why they want a health insurance product. Other than DI they were never in the health business.

Their agents are not health guys. Why would they develop a product and keep it in house?

Doesn't sound like they are very serious about that market.

 

[sshafran]

Mass used to have career agents, but not captive like NYL. A lot of things have changed since the merged (acquired?) by . . . New England?

They do/did have a direct to consumer life policy. Maybe a couple.

Can't figure out why they want a health insurance product. Other than DI they were never in the health business.

Their agents are not health guys. Why would they develop a product and keep it in house?

Doesn't sound like they are very serious about that market.

Agree, but it's probably an easy add-on when a financial planner is working with a retiree. Rather than outsource it, I bet they just "advise" Plan F or G and call it a day.

 

[somarco]

You may be right, Scott. I used to know several MM agents but can't name any now.

The problem with being a dinosaur is you remember the way things were in the 70's and assume things have not changed. MM tried to retool it's image maybe 20 yrs ago and be perceived as "financial planners" rather than just life insurance sales people.

A couple of MM agents here in Atlanta went big time, coming up with creative ways to finance life insurance. Their client base were people who had tremendous wealth on paper but were cash poor. Almost no liquid assets.

They designed a bartering system that resulted in annual premiums in the millions of dollars per policy.

Needless to say they did very well but wouldn't touch anything related to health insurance. They did hire an in house guy to sell and service group insurance plans for their larger employers.

I still don't believe MM will generate much Medigap volume, especially if they are not offering it on a brokerage basis.

 

[goillini52]

I know the #'s are probably off, but CSG shows MM with 217 lives covered nationwide and 16 in Illinois in 11 months. You're right, not much volume.

 

[socal401]

I know the #'s are probably off, but CSG shows MM with 217 lives covered nationwide and 16 in Illinois in 11 months. You're right, not much volume.

Are the CSG #s ever accurate for "lives covered"?

 

[goillini52]

Are the CSG #s ever accurate for "lives covered"?

I doubt it. I love CSG, but # of lives covered and rate increase history, I don't pay much attention to.