Monumental Solutions Being Phased Out on March 18

[TwiLight]

Monumental Solutions Products are being phased out for sale beginning on March 18 to be replaced with a New Transamerica FE product written on Transamerica Life Paper.

There are some rate changes that are very small.

This is what we have found:
Preferred: Under 55 – SMK & NSMK – all rates increased slightly 55 through 74 – NSMK rates are lowered – SMK – rates increased 75 rates unchanged Over 75 – SMK & NSMK all rates increased
Standard – All rates increased both classes
10—Pay – All rates increased both classes
Graded – All Rates increased both classes

Policy fee increased at less than $5000 Face and no increase for $5000+ Separate apps for 0-44 – seems to more fully underwritten than simplified issue as there is different underwriting guidelines than 45-85.[FONT=&quot]

New question now asks about wheelchair use not sure where this falls in the app but, most likely goes from preferred to standard.

Love to get your input on the product and not on the Comp. As far as I know, there have been no planned compensation changes in all distributions.
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[jdeasy]

I made less than $5000 from Monumental last year so that tells you how little I use them now.

No big loss.

 

[bboman23]

Figured it wouldnt be long before they changed some rates. Wonder how big of an increase on the 10 pays?

 

[Rearden]

As long as they keep their unique selling points, I will continue using them.

 

[TDFnCali]

I use them a lot, how come no announcement if this change is in a week? And just so I understand this correctly, we won't be selling Monumental Life anymore... Now it's Trans America?

TDF
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[Agentguy5]

I made less than $5000 from Monumental last year so that tells you how little I use them now.

No big loss.

Curious, where are you sending your COPD clients?

 

[SirKnight31]

I just talked to a district manager and he said it's being "Revamped" but not done away with...

I already don't like dealing with their PHI's and amendments for everything under the sun(customer service in general), so a rate increase might end our relationship.

 

[TwiLight]

I use them a lot, how come no announcement if this change is in a week? And just so I understand this correctly, we won't be selling Monumental Life anymore... Now it's Trans America?

TDF

It depends on your State. In Cali it is not approved yet, so you will continue using MonLife until all the approvals are done. I have attached the State approvals list.

The Announcement was made 3/1 and just put out on AgentNetInfo Friday.

 

[bboman23]

Equitable takes copd if they dont smoke as immediate.

 

[Agentguy5]

I'm using Monumental a lot lately... Yesterday my Fiance wrote a 79 year old lady for a 20k policy.. Monumental beat RNA by about 10 bucks a month... COPD guy on Thursday, MONUMENTAL... 30 year old on Tuesday, Monumental...