Mutual Of Omaha - New Plans in 8 states

Jan 25, 2008

  1. insurance0707
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    insurance0707 Guru

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    I just read the Mutual of Omaha "Mutual Matters" booklet they send out to agents each month. They're coming out with lower priced Medicare supplements in Michigan, Nevada, New Hampshire, Ohio, South Carolina, Tennessee, Texas and West Virginia.

    They'll be offered by United of Omaha. They should be approved by April.

    Just thought I'd give you guys the heads up in case any of you are writing Medicare supplements still
     
  2. Texas Broker
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    Texas Broker New Member

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    Yes the new plans are coming. And so are the new commission schedules at very reduced rates!
     
  3. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    They won't get my business if they are lower than 18% commission.:no:
     
  4. GreenSky
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    GreenSky Guru

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    I heard that just for you, they are paying 17.9% with 25 free leads a week. But I'll let them know its not enough commission and you'll pass.:)

    By the way, the street level is 15% in California - I'm waiting for my FMO to bump me up (as promised) to 17%.

    Rick
     
    GreenSky, Jan 29, 2008
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  5. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    I might take 17.9% if they give me 25 leads.:huh:
     
  6. GreenSky
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    GreenSky Guru

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    So then you LIED when you said you wouldn't take less than 18%. Do you lie to your clients as well?

    Anyway, I'm annoyed with you!:mad:

    Rick
     
    GreenSky, Jan 29, 2008
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  7. HomeService
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    I think they are trying to move some claims off mutual on to united, claims sharing, or something
     
  8. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    What did I do? :skeptical: Sorry not all of us sell as much insurance as you. Here we go with you trying to sound smarter than everyone else. Wait a second.......... Nevermind, I thought I was Al for a minute. :D

    17.9% + 25 leads a week is worht more than 18%. Geez Rick, you should know it is not about price, it is the benefits you recieve. C'mon now. :goofy:
     
  9. Cenla Agent
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    Cenla Agent Guru

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    I guess they'll just keep coming up with new companies to issue new supps with that have loose underwriting, and then mow under the whole existing book of business, leaving those who cannot switch due to a change in health holding the bag. That evidently was their m.o. with United World and now with United of Omaha. They also pay some of the lowest commissions in the industry.

    What they do have going for them is the name. MOO is probably the most recognizable behind BCBS and AARP.
     
    Last edited: Feb 2, 2008
  10. GreenSky
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    GreenSky Guru

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    We're fortunate that in California there is open enrollment every year for med supps for 30 days following the policy holder's birthday. No underwriting and they can make a switch to the same or lesser plan.

    I've been moving people to United World on a GI basis where possible and tell them that we will review this every year.

    The only "drawback" is that you cannot receive new business commission, but only renewal. Since United World pays a level commission for 6 years, this is definitely NOT an issue.

    Rick
     
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