Medicare Supplement Plan D

[sman]

I've been selling Plan D and G for years, depending on the rates offered for the client in their zip code. Actually, C-G are good choices depending on area and what client can afford.

In metro Atlanta, many specialist doctors are not taking assignment, so those clients are better off with excess charges being covered, if the premium is not out of line.

Mutual of Omaha is raising their rates....a client called to say her premium was jumping from $150/m0 to $165 for plan D. She called AARP and for plan F it's $150/mo. Since she has MOA, i can't switch her to United World, but i have another carrier who can offer a lower premium than either of the above. The point here is that some clients will jump ship to save premium, even if they like the agent. COLI is getting high for many.

Are you in the ATL? If so, who are you using besides United World? You can move the person from Mutual of Omaha to United World and still get paid a little if you were to original writing agent (assuming the policy is less than 10 years old).

 

[senior-advisor-indiana]

You can never tell when an increase is coming, thats why i am weary of jumpin on UWorld cuz they been around a couple yrs. Im afraid if i start writing is when they jump up. PAHLIC was out for 12months before their first 9% increase.

 

[Superchief]

You writing much PAHLIC there Indiana? Are they competitive there? There so so in Texas, just depends what zip codes you're in.

Mostly I've been using UTA, Loyal American or RNA.

 

[senior-advisor-indiana]

NO PAHLIC isnt very competitve, they came out higher than the competiton and stayed there. I have sold just a few and only because I couldnt talk the people out of an F and thats the cheapist F plan I had being captive.

CGI is the best price out of the captive companies with gahlic. But they take huge increases.

 

[senior-advisor-indiana]

They haven't been in IN for 5 yrs. The commissions arent much lower either. I get 17% for 8 yrs. I have heard you can get 18%. The marketing companies are takin a bigger cut and not doing crap for the agents.

 

[Frank Stastny]

They haven't been in IN for 5 yrs. The commissions arent much lower either. I get 17% for 8 yrs. I have heard you can get 18%. The marketing companies are takin a bigger cut and not doing crap for the agents.

I agree with you but I don't necessarily think that is the case with Anthony's company. Although I have limited experience with them, they are the only ones paying $350 per app for Pyramid that I am aware of. In talking to other agents with other companies, they have told me they are only getting $330 per app.

Premiums vary greatly from state to state with med supps. What may be an awesome deal in MO may suck in IN. That is the main reason I dropped my IL license.

The company I was captive with had awesome rates and virtually no increases, and I sold a ton of it until the late 90' when rates started going up 35% per year. That's about the time I became independent. Even though my commission with them for med supps was only 15%, my last year with them I made over $94,000 at a time when most of the med supp policies I sold were around $70 per month.

I'm generally more interested in the premium increase history of a company and their underwriting/health questions than I am in commissions. If commissions are high and so are increases, I know I'm going to have to sped a lot of time chasing clients trying to get to them before they cancel. I hate chasing clients, if I'm going to chase anyone, I would rather it be girls. Don't tell Jacqueline!

 

[Superchief]

The part about United World that bugs me is what Mutual is using them for. Mutual is taking some monster increases right now, definately more than their norm. Their going behind the agents and marketing UW directly to their Mutual clients, enrolling them and cutting the agent out altogether. And if the agent wants to help and roll the business from Mutual to UW, they get no commissions at all.

At least with UTA when they introduced Loyal American they allowed us to roll the business and still get point in scale commissions.

Has United World been around for 5 years? It may have been filed for 5 years, but it certainly hasn't been released for 5 years.

As far as CGI and their big increases... it was because of loose underwriting on the block originally. It was damn near Guarantee Issue.

Thankfully Ceres cleaned it up some. I know Great American has tightened it up a touch more since they've begun releasing new plans for them.

 

[senior-advisor-indiana]

WHo is anthony and what does he offer frank?

 

[Superchief]

I understand why Mutual is taking larger increases than normal - they shut it off to new business. As soon as I heard that I started replacing their policies as fast as I could find Mutual policyholders. Talk about picking the low fruit! Sheesh...

I know UW is coming to TX, and I'll likely get appointed with them for obvious reasons. I'm surprised they've stayed out as long as they have!

Anthony... do you work for Gary Boesch and United Agency Services?

 

[Superchief]

Used to work as a recruiter for one of their subsidiaries, Senior Marketing Division, LLC. We had the exclusive with UTA for a while. Did really well for the most part, except that Gary's Clearwater, FL office used to abuse the hell out of us!

After Billy decided to cancel Gary's contract, the legal fiasco that followed, and getting completely screwed out of my cut of the renewals, I decided to go indy.

From what I understand... there's some new Zero Premium Life Insurance Product that's going to make me millions. So everything should be golden from here on out... just gotta figure out who I just got contracted with and what I'm selling.