tiplace.com
New Member
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I have heard MOO is starting a new company, cheaper rates.
Isn't this how United World started?
Isn't this how United World started?
Mutual of Omaha - New Company?
- Thread starter tiplace.com
- Start date
- 159
They have United World in place. However, I have not heard of anything in the works that says they will be starting a new company.
- 2,452
Yep. united of omaha. low rates, even lower commissions.
- 307
It won't be long until agents have to pay to play, with Mutual of Omaha.
They have a great FE product now, competitive price, faxable app and good commission. Doesn't require f2f, just got the 3rd one back in the mail in the last two weeks.
I plan to aggressively market this product to all of my older clients, 35+.
I've been selling United of Omaha Med Sups for nearly a year. Before that it was United World and before that it was Mutual of Omaha.
They raise the rates of the old company, in many states that traps unhealthy people in the plan (who are the ones who caused the rate increase) and allows the healthier people to move to their new company rather than moving to a different company. In my state they have a GI every anniversary date so it is no big deal. This is certainly not anything new with MoO.
They raise the rates of the old company, in many states that traps unhealthy people in the plan (who are the ones who caused the rate increase) and allows the healthier people to move to their new company rather than moving to a different company. In my state they have a GI every anniversary date so it is no big deal. This is certainly not anything new with MoO.
I don't make enough to speak with you personally.
Health insurance carriers do something similar even without creating a new company. An existing product line will be phased out, replaced with a new policy form. Unhealthy folks stay in the old policy form (at ever increasing rates) while healthy folks get the newer format (subject to underwriting of course) and much lower rates.
The trick is to write enough new business to offset the losses of the old block. You hope the rates on the old block will at least allow you to break even but sometimes that does not happen. The folks in the old block either pay and pay to avoid going without coverage altogether or drop out and go naked.
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I guess that means no Christmas card this year.
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