Mutual of Omaha/United of Omaha

Yes, things may be bad for a while. It might be partly because they are picking up all the admin work for other companies. Gerber, Woodmen/Assured life etc... Not sure what the connection is here but I'm sure there is one.

The bigger picture - and bigger challenge for the clients, long term, is that Mutual is the only one taking everyone with limited or no underwriting at all for Plan N. This will necessitate huge rate increases in the future with a captive audience that came to them based on adverse selection (sickest of the sick) that will be stuck... leading to the death spiral of increases for that group on Plan N.
 
For all my clients that apply for a GI plan be it plan N or otherwise... I send in the cancelation prior to having confirmation from MOO. We have no choice. It's more important to kill the old pollicy than to get confirmation. It's going to get issued... sooner or later. Either cancel for them or delay the new plan accordingly.
 
When I called Moo they told me that they had people working overtime and on Saturdays. I'm sure glad they're getting overtime on the cases were sending them....it would be nice if they paid the people that brought them the business as well.
 
You're not earning commission on these cases? You are a saint.;)

When I called Moo they told me that they had people working overtime and on Saturdays. I'm sure glad they're getting overtime on the cases were sending them....it would be nice if they paid the people that brought them the business as well.
 
Well, there are some MOO cases an agent won't get paid on. I take these cases anyway knowing sooner or later I'll put them on a non-MOO policy or rewrite them to another (read 3rd) MOO plan.

I'm speaking of any MOO client that you take from one MOO plan to another MOO plan and you were not the agent that wrote the first MOO plan. In other words... Internal replacement by a different agent.
 
Well, there are some MOO cases an agent won't get paid on. I take these cases anyway knowing sooner or later I'll put them on a non-MOO policy or rewrite them to another (read 3rd) MOO plan.

I'm speaking of any MOO client that you take from one MOO plan to another MOO plan and you were not the agent that wrote the first MOO plan. In other words... Internal replacement by a different agent.

I have wrestled with this idea for the past couple of months, too.
You have increased liability by taking on each and every client. I believe that you open yourself up to potential E&O claims, of course, with each client you bring on. To do so for zero compensation seems to be a risk prone, unpaid activity.

It's true that these clients will, if the company takes care of them (by issuing their policy within a reasonable time, etc), likely result in more referrals, to be sure. However, how much time will you spend taking the application, following up on that application with the company over and over again until it is finally issued.. servicing any potential challenges they may have with understanding the new plan (N), etc. throughout the year for zero compensation. If they are trapped because of poor health coming in the door and need the G.I. Plan N, or they become trapped once they're there because of poor health and can never leave, you will never reap one dime from that person.

On the other hand, it does create cross-selling opportunity potential for final expense, LTC, etc. and the inevitable referrals that always come from Med Supp folks that happen with good follow-up.

It is just a potentially awkward business model of completing the work, exposing one's self to even a little more potential liability, and taking on the service work and follow-ups, potentially for the rest of that client's life - for no compensation.
 
I wonder how long this is going to be be, until they get back to approving policies in a a timely manner, or if that day is long gone, because of the N plan back log.


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I have wrestled with this idea for the past couple of months, too.
You have increased liability by taking on each and every client. I believe that you open yourself up to potential E&O claims, of course, with each client you bring on. To do so for zero compensation seems to be a risk prone, unpaid activity.

...It is just a potentially awkward business model of completing the work, exposing one's self to even a little more potential liability, and taking on the service work and follow-ups, potentially for the rest of that client's life - for no compensation.

Add to your exposure list the potential for an agent marketing complaint (regardless of how careful you are) and the obvious waist of your time. The negatives outweigh the positives on this one.

This scenario sounds very similar to the PartD paltry commission joke. :mad:
 
I signed on today to Mutual's website and business that I submitted (2 GI Plan G's) just a few days ago have been issued. All of my Plan N's are still just sitting there pending. Some are a month old. Weird
 
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