Motorists Life - Need a Quote Verification HELP!

[PaperHanger]

Hi guys,

I have a prospect who contacted me back with a quote from Motorists Life, which I feel is very low, lower than RNA.

Georgia
F 74 non-Tob (dob 5/27/1938)
10,000 $55mo is the 'quote' from Motorists. I'm thinking this is includes AD&D to come up with that 10k.

I am calling BS.

So if you guys could help confirm for me, I would appreciate.

This client previously had RNA Essential Life, $25k at $100. She NSFed and didn't pick it back up.
We reapplied to the Essential Life, and were shut down this time, Declined... geez.

So since this also knocked out UHL due to previous Decline, I quoted AmAm. Today she emailed back with the 'Motorists too low of a Quote'.

 

[gordon112]

75.3/M 10k for 74 Female Fl rate not sure about GA

 

[SportsNut]

Motorists has a fully u/w WL product which is very low and that sounds like what she has been quoted. If she was turned down by RNA then she will not be issed the Motorist product, if it is the one I am referring to; fully u/w WL.

As we all know, a quote does not equal coverage... and she has a QUOTE.

 

[PaperHanger]

so, what is the quote for F 74 n/s, 10k on that fully uw product? Looking at their website, it does not mention anything like that. Just SIWL, Non-Participating WL, and Participating WL.

I'm wondering if she was actually quoted $5k wl and $5k AD&D and told it was "$10k"...this tactic was mentioned on another Motorists thread.

I recently almost lost an app to an agent from 5Star...he quoted the wrong age and almost screwed me up....he even reiterated the wrong quote when I called him. Nice trick, the leave behind is a low quote, and client never checks their bank statement, or agent comes up with an excuse later. His intent was to replace me, he wrote a big 'X' on my leave behind and "Canceled" in creepy troll-agent scrawl. He sounded like a used car salesman on the phone.
You know who you are ;-P

Anyways, off the rails a bit. WTHay is this $55mo for 10k all about?
Georgia, Female, 74, non-smk, $10,000 WL

 

[gordon112]

so, what is the quote for F 74 n/s, 10k on that fully uw product?

I'm wondering if she was actually quoted $5k wl and $5k AD&D and told it was "$10k"...this tactic was mentioned on another Motorists thread.

I recently almost lost an app to an agent from 5Star...he quoted the wrong age and almost screwed me up....he even reiterated the wrong quote when I called him. Nice trick, the leave behind is a low quote, and client never checks their bank statement, or comes up with an excuse later. His intent was to replace me, he wrote a big 'X' on my leave behind and "Canceled" in creepy troll-agent scrawl. He sounded like a used car salesman on the phone. You know who you are ;-P

Anyways, off the rails a bit. WTF is this $55mo for 10k all about?

The quote $74.4 is for Simplified Issue Whole life. Like Sports Nut said they have a Non Par WL and PAR WL and it can be written at 10k. This is fully underwritten including MIB, RX, Paramed, and or medical records ordered. Most likely that is the rate she has been quoted on.

The better question would be, what is her health the last 10 years including Meds? RYN would be out since they don't write under 25k on the Essential (fully underwritten)

 

[nfl72]

My first year in the business I wrote lots of Motorists until I had them replaced by Foresters. That was several years ago. I have never found MOtorists to be all that competitive in regards to price. They were also a pain in the ass to deal with as far as underwriting etc. Lots of stupid stips and they made lots of mistakes that tended to piss off clients. Taking payments on the wrong days, taking too many payments not taking payments in a timely fashion, which is a killer when dealing with FE buyers as they spend their money within a day or two of receiving it from the state.

 

[Rearden]

Where are you in Georgia?

so, what is the quote for F 74 n/s, 10k on that fully uw product? Looking at their website, it does not mention anything like that. Just SIWL, Non-Participating WL, and Participating WL.

I'm wondering if she was actually quoted $5k wl and $5k AD&D and told it was "$10k"...this tactic was mentioned on another Motorists thread.

I recently almost lost an app to an agent from 5Star...he quoted the wrong age and almost screwed me up....he even reiterated the wrong quote when I called him. Nice trick, the leave behind is a low quote, and client never checks their bank statement, or agent comes up with an excuse later. His intent was to replace me, he wrote a big 'X' on my leave behind and "Canceled" in creepy troll-agent scrawl. He sounded like a used car salesman on the phone.
You know who you are ;-P

Anyways, off the rails a bit. WTHay is this $55mo for 10k all about?
Georgia, Female, 74, non-smk, $10,000 WL

 

[jdeasy]

Hi guys,

I have a prospect who contacted me back with a quote from Motorists Life, which I feel is very low, lower than RNA.

Georgia
F 74 non-Tob (dob 5/27/1938)
10,000 $55mo is the 'quote' from Motorists. I'm thinking this is includes AD&D to come up with that 10k.

I am calling BS.

So if you guys could help confirm for me, I would appreciate.

This client previously had RNA Essential Life, $25k at $100. She NSFed and didn't pick it back up.
We reapplied to the Essential Life, and were shut down this time, Declined... geez.

So since this also knocked out UHL due to previous Decline, I quoted AmAm. Today she emailed back with the 'Motorists too low of a Quote'.

Motorists has a fully underwritten whole that is competitive with RNA's Essential Life but it doesn't require an exam at the older ages like RNA. I understand that it's even more diffikcult to qualify for than Essential Life.

I don't know if they will go down to the $10,000 face on that product. They might as RNA used to have a $10,000 minimum on the Royal Prime. I was almost 2 years ago that RNA changed it to Essential Life and made the minimum $25,000 for ages 18-85.

If RNA would still do $10,000 the premium foir this lady would be $46.41/mo. My guess would be that she was quoted Motorists fully underwritten.

 

[TPAAgent]

About a year ago this happen to me- met a 66 year old male smoker who told me his rate- I called Bullsh*t becaus eit was like 18 dollars cheaper a month than Foresters.. met him, saw his policy and sure enough it was what he said- even got him to call motorist to get the face amount etc and was on speaker- I signed up with motorist got the rates and it wasnt anything like he had.. not sure what happened- but that rate was stupid low for his age and as a smoker.. dude lucked out somehow

 

[SportsNut]

About a year ago this happen to me- met a 66 year old male smoker who told me his rate- I called Bullsh*t becaus eit was like 18 dollars cheaper a month than Foresters.. met him, saw his policy and sure enough it was what he said- even got him to call motorist to get the face amount etc and was on speaker- I signed up with motorist got the rates and it wasnt anything like he had.. not sure what happened- but that rate was stupid low for his age and as a smoker.. dude lucked out somehow

This struck a thought here... I'm wondering if their super duper Non-Par WL fully u/w product is only available thru certain dist channels, like you might have to produce P&C biz for Motorist in order to be able to offer certain products...? I did have an affiliation with a P&C agency was able to offer the product mentioned and the rates were super duper, like at least 25% less than most FE products... which would certainly make sense since FE products are table rated 4/D-6/F or so, some even more so.

Anyway, the point being is that just because one contracts with Motorists thru a brokerage agency may not give them full run over the product portfolio... not sure but it does make sense based on the above comment by TPA.