Medigap Carrier Graveyard

[billyb]

I looked at my Mom's bank statement today and her CLi/Aetna premium is $252 monthly. She is 89 and it is a Plan F. That block of business closed at least 15 years ago

 

[Special Agent]

I still get renewals from Celtic, Continental Life and UCT.

I was still getting renewals from UCT until recently from cases i wrote in the 90's- i thought they went belly up recently ?

Remember Prudential use to be the AARP plan up until about 1998.That was the only one that could beat UCT rates in Florida for a while ( 85.00 for plan F age 65 in 1995 ).I started as a captive with Combined in 1992 and they had pretty good rates especially under age 65.I believe they were the only carrier in Fl at the time that didn't rate up the under 65 and i wrote a lot of those to Combined's dismay.Golden Rule had very competitive plan G back then if i remember correctly

 

[somarco]

Seems like I was appointed with a carrier that had "family" in the name. What could be more comforting than Family Life (or something like that)? The GA/FMO was Georgia based.

In Georgia there was Aetna Life, Aetna Health, Aetna Health and Life , American Continental, Continental Life & First Continental.

All the Aetna carriers are still around somewhere AFAIK, but Continental Life is the only one currently writing in Georgia.

Thanks to Luke for saying CSG had a "wayback" machine to look at older dates.

I found Madison National, Sterling Life, Sterling Investors (one or both may have been mentioned before), GPM, Transamerica (that would be popular now), Assured . . .

I don't know if any of those are still active in the market. Seems like Madison only wrote business for a year or two.

 

[Newby]

United Teachers
Great American
Loyal American

Are all three gone aren’t they? They were all three the same company.

 

[kak6407]

I looked at my Mom's bank statement today and her CLi/Aetna premium is $252 monthly. She is 89 and it is a Plan F. That block of business closed at least 15 years ago

That's a fantastic rate!

 

[goillini52]

United Teachers
Great American
Loyal American

Are all three gone aren’t they? They were all three the same company.

Cigna bought them all. I think they still use Loyal for their FE and ancillary products.

 

[Family Man]

I'm curious if the conclusion of this list of deceased carriers is that some agents will begin selling with just the big name carries. It's crossed my mind often. However, it's a hard sell to tell that to a prospect when there's another identical option that's $20-30 less/month! Ultimately, I've had big name carriers "stick it" to clients premiums the same as little deceased carriers, so I guess that's why I haven't become a big name only seller.

 

[Russ]

Whatever happened to CSO? I wrote for them in the 1980's. There was a med-supp agent that wrote Georgia Life and he killed quite a few policies I had written. Their rates were lowest in the Florida panhandle in the 1980's. But back then you could have multiple med-supps.

Wrote United American then too.

 

[somarco]

@Family Man If you are having a hard time selling anything that is not the lowest price you and your clients are in for a rough road ahead.

There are roughly 40 carriers in my state offering identical coverage G plans ranging from $130 to $370.

The low-ball carrier is B+ and entered the market 14 months ago. Ratings are meaningless but length of time in the market is "everything".

There are 2 household name carriers here with a stable 30+ year history. One is $155, the other is $160. I write a lot of business with the $160 carrier and nothing with the other.

I offer prospects a carrier with 20+ years in the market for $130 and another with a carrier with 30+ years for $160 and let them choose.

95% of the time they will pick the $160 carrier.

 

[MSLLC]

GPM
Thrivent
Polish Falcons
Geisinger