Mutual of Omaha - New Company?

[bill3173]

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.

Humana bucked that trend with their old "legacy" product, do you remember that? I have a client on it, and the rate increases are lower than the new products and he wants to change, and I really can't talk him out of it. New money for me, but it's painful to watch someone throw something like that away.

Alright, I know, this is the Senior Forum, and I just referred to an IM product, sorry, couldn't resist.

 

[The Brokerage Resource]

You guys are too much.

United of Omaha = Lower Rates & the comp has not been set yet

We are a national Mutual marketer in 46 states if you want a
contract pm me.

 

[patch36]

Like I said, UoO - I have been selling it for about a year and I have been getting paid. They do have lower rates and the comp is the same, at least with my FMO.

 

[Todd King]

Mutual Of Omaha has been doing this in one form or another for years. Before United World and United of Omaha, they just started a new block of business. When their rates went up, the people that wanted to drop it would all of the sudden "learn" that they could actually switch to the "new and improved" product and get cheaper rates. Of course Mutual didn't advertise this to the client until they threatened to drop it.
Then after years of doing that, they came out with United World and United of Omaha. It was just easier to switch them to a "different" company than to start new blocks of business.
For those of you who don't know, there is a 'sort of ' new product and a 'sort of' new company. It's Woodman of the World/Assured Life Associtation which is right now in about 10 states. It's reinsured by no other than Mutual of Omaha! LOL

 

[jacobtn]

You guys are too much.

United of Omaha = Lower Rates & the comp has not been set yet

We are a national Mutual marketer in 46 states if you want a
contract pm me.

Sorry, you are either just trying to obtain contracts or you are naive. Commissions have been set for nearly a year now in TN and GA.

Top street level in TN is 16% 1st yr Med Supp comm, 80% life comm up to 76, 72% age 77 and up. Like I said, ridiculously low commissions. Makes advantage plans look like annuities!

 

[captain94]

they are starting a new company called assured life...rates are $90 a month for a plan F and $80 for a plan G. they will be avalible in a few states on may 1st. ohio is one of them there contract is 20% in ohio. pm me and i will send you the info.

 

[The Brokerage Resource]

Sorry, you are either just trying to obtain contracts or you are naive. Commissions have been set for nearly a year now in TN and GA.

Top street level in TN is 16% 1st yr Med Supp comm, 80% life comm up to 76, 72% age 77 and up. Like I said, ridiculously low commissions. Makes advantage plans look like annuities!

Check you pm's what you know and what you think you know are not always the same.

 

[medicarebenefitsdirect]

Sorry, you are either just trying to obtain contracts or you are naive. Commissions have been set for nearly a year now in TN and GA.

Top street level in TN is 16% 1st yr Med Supp comm, 80% life comm up to 76, 72% age 77 and up. Like I said, ridiculously low commissions. Makes advantage plans look like annuities!

I am an FMO with Mutual and I can tell you that WellCare is correct...the commissions have not been set. That is all I can say. He is definitely correct.

 

[patch36]

Just to be clear, I believe these guys are now talking about Assured Life, which is a new venture. UoO is established, has rates and commissions and has been around for quite a few months in many states.

 

[GreenSky]

If the commissions for UofO have not been set, then how is it I am receiving commissions for that company?

Rick