Motorist Life.. FE?.. Wait Wut?

[TPAAgent]

Just got off the phone- 70 year old male, COPD, says he took out a policy last year at age 69 for 15,000 through Motorists and his prem per month is $77

Guy said someone came out last year and replaced his policy telling him "How'd ya like to get the same coverage for less?" So dude took it- I'm thinking the agent boned him on the actually face amount

I just ran Monumnetal because of no COPD question and $10,000 at standard immediate is $99.00 per month

Is Motorist that cheap? Cant possibly be.. Anybody got the skinny on this company?

 

[Newby]

Just got off the phone- 70 year old male, COPD, says he took out a policy last year at age 69 for 15,000 through Motorists and his prem per month is $77

Guy said someone came out last year and replaced his policy telling him "How'd ya like to get the same coverage for less?" So dude took it- I'm thinking the agent boned him on the actually face amount

I just ran Monumnetal because of no COPD question and $10,000 at standard immediate is $99.00 per month

Is Motorist that cheap? Cant possibly be.. Anybody got the skinny on this company?

Motorists is just average on rates. The agent probably didn't answer the COPD question correctly on the app. I don't think they do a phone interview.

 

[TPAAgent]

Motorists is just average on rates. The agent probably didn't answer the COPD question correctly on the app. I don't think they do a phone interview.

Even at standard ns, 70 year old male 15,000 for $77 per month?

Hell Foresters is $93 per month if I run it at 69 years of age like he was when he took out the Motorist

$15 cheaper per month than Foresters?

 

[Newby]

Could be a UL.
Motorists also has a fully underwritten WL like RNA. Could be that.

 

[Biggin]

If it's 15k, It's not a UL. Motorists (as of 3 yrs. ago) started their UL at 25k. They DO have a phone interview. More than likely it's for 6k or something like that. I find that a high percentage of clients think they have a higher face than they actually do. Good company and good renewal comp, but just not a superstar in the rate category. It's a shame, too, because they are a breeze to work with. 2 page application quick issue, and great customer service. But they are a replacement risk.

 

[Todd King]

It might be $7500 with ADD added....lol.

I don't know much about Motorists, but this is not the 1st time I've heard about policies being rolled away from the original WA.

 

[WinoBlues]

It might be $7500 with ADD added....lol.

I don't know much about Motorists, but this is not the 1st time I've heard about policies being rolled away from the original WA.

Same as I was thinking. I have seen this lots of times. Or in some cases small whole life and a ten year, non guaranteed term, rider. Seems like I remember AIL pulling that.

I would call the client and tell him that in this business if it is to far out of the norm something is wrong. Better to fix it now.