Mutual of Omaha - New Company?

[Russ]

Confusing thread isn't it?
There was actually 2 different things going on in this thread, but I'll sum it up for you.

There is a new company called Woodmen of the World/Assured which is a better comp than all the rest of the Mutual of Companies (Mutual of Omaha, United of Omaha and United World). That's the new company and you can get 21% for those.

The other thing that was being debated was that whether United of Omaha was new or not and had they set their commissions.

The Answer to this is actually yes and no. United of Omaha is not a brand new company. Have their commission levels been set yet. Yes they had been set but UoO decided to raise the commissions by 3% across the board. Some, I guess, see this as a new company with new commission schedules. Well, we'll say that would be half right anyway.

Does your dog bite? I've been to someone's house before that had one that bit me when I entered. Guess it was trained to do that with insurance agents

 

[Graham]

Yeah MOO has quite a history of creating new companies.

 

[Insuranceman]

I just got a letter from MoO raising my commisions from 15% to 23% here in Ohio.

 

[Todd King]

Todd,

You almost right, Woodman is its own company and is not owned by Mutual of Omaha. Mutual of Omaha does however provide re-insurance for the Woodman Medicare Sup prodcuts.

I know, I should have added that. Thanks for the addition.


Russ.....nope, she doesn't bite...can't hardly get her to chew her food! Nah, really, she's a good one.

 

[Russ]

I know, I should have added that. Thanks for the addition.


Russ.....nope, she doesn't bite...can't hardly get her to chew her food! Nah, really, she's a good one.

Good for her and ya'll.

 

[G.Gordon]

Todd,

You almost right, Woodman is its own company and is not owned by Mutual of Omaha. Mutual of Omaha does however provide re-insurance for the Woodman Medicare Sup prodcuts.

Read...

They provide the pocket for a company without the true funding to be in the med supp market. Every company that MoO has had to provide re-i for has the most unstable rates on the street. Look to RNA, Sterling, and now Admiral (carrying a NR-2 rating).

 

[Todd King]

Read...

They provide the pocket for a company without the true funding to be in the med supp market. Every company that MoO has had to provide re-i for has the most unstable rates on the street. Look to RNA, Sterling, and now Admiral (carrying a NR-2 rating).

I guess you never heard of Woodmen of the World?

 

[azmedsupagent]

Im still a bit of a neophyte in this business but Im finding that there are alot of medicare insurance companies that play games with the people they insure. I mean doesnt this seem like a pattern here with the MOO,United World,UOO? Its seems like they write as much business as possible knowing all to well of the high premium increases to come, then they reset thier the risk pool by starting a new block of business when they do get to high. This then isolates the old block of business which causes premiums to rise even faster and in arizona if they cant qualify medically to switch they are stuck on that plan with higher premiums than they ever expected. It doesnt seem like MOO cares though because now they have them on the books and have already started a new block of business to start the entire process over again. This is especially important in states that require underwritting outside of OEP or an SEP.

Im starting to feel like we might be doing a dis-service to the people who we sell the latest flavor of the month to just becuase it has the dirt cheap premiums up front and a decent commission. Shouldnt we all be doing a little more research to determine which companies have the best balance between premiums, premium increases, and coverage so that we can can make recommendations based on those factors rather than just selling some crap that just came out that we all know will be closed out in a few years like United of Omaha did?

 

[kinjeketile]

Do you market united omaha in montana