Mutual of O is the big dog as far as price in this area of NC, but underwriting is taking so long, I've had potential clients tell me that they will just stay with Blue Cross, even though they are more expensive, because they relate heavy underwriting as an indication of speed of claim service. Iam a new agent and I need another company to represent as a back up. Is there an advantage to picking up AARP, even though their rates are about even with blue cross? Or should i look to another "attained age" company? Thanks for the help.
Mutual of Omaha/United of Omaha
- Thread starter insurance0707
- Start date
- 125
There are advantages to both picking up AARP and going with another attained age company. I would look at Gerber and Family Life in North Carolina. If you would like more information or rates on any of the three companies just let us know. You can call the number below and dial extension 227 for Brian Keene, our NC Sales Director, or post or PM here.
- 7,066
You may want to take a look at Gerber. If you would like to see their contract and commission schedule send me an e-mail. [email protected] They are issuing policies in a couple of weeks or less.
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The only thing I know I can count on in the senior market is that it is constantly going to be in a state of flux. Companies are going to continue to come and go, rates are going to increase and the playing field is going to change.
Two years ago who would have ever guessed that there would be a new Med Supp plan that would be virtually GI for every senior with a lower premium and that the insurance company would increase the agent's commission when selling one? Not me.
AARP had been selling Med Supps for years with only one question on the application, the ESRD question. They have been able to maintain somewhat of a competitive advantage doing so. Florida is a perfect example. They are among the top two competitive companies in many areas of the state and have held that position for quite a while.
Plan N with MOO is GI in some states, in others it also has the ESRD question. I don't necessarily think it is a given that premiums are going to skyrocket simply because of that. (It didn't seem to have an adverse effect on AARP in many areas.)
I don't think that we can automatically assume that the only people who are taking Plan N are the sick and unhealthy ones.
I agree with insurance0707. I too have written a lot of Plan N's on very healthy people. Seniors are all about saving money. There are very few that I would have had to write GI. For the one's who have chronic health problems and can qualify I recommend a Plan D first where it is economically advantageous. (The same as a Plan N without the copay.)
If we all had crystal balls this job would be a whole lot easier. We'd probably be a lot more careful of sitting on concrete though if we did.
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- Thread starter
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I think those Moo underwriters are reading this board. I had about 6 or 7 policies that I didn't think they'd ever issue all got issued at once, just in the last 2 days. It's like they've gone back to work 
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- 7,066
I think those Moo underwriters are reading this board. I had about 6 or 7 policies that I didn't think they'd ever issue all got issued at once, just in the last 2 days. It's like they've gone back to work
Almost like they just realized that unlike them, we don't get paid a salary. We only make money when we sell something and they do their part.
My guess is that they are busting their butt just like we are even though it may not seem that way sometimes.
Patience has never been my virtue.
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- #36
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Mine either....remember the good old days when you could collect 12 months premuim, deposit it into your account, take your commissin and mail the app and remaining premium to the insurance company. Pioneer used to do that.
I think those Moo underwriters are reading this board. I had about 6 or 7 policies that I didn't think they'd ever issue all got issued at once, just in the last 2 days. It's like they've gone back to work
Same thing happened to me today.
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Exactly, every one I have written this month I have used an 8-1 effective date, unless GI, and explained why MOO is so busy. they are the only decent carrier in Va. and many people are switching to them to save money. This tells my new client that they are making the same correct decision eveyone else is.
mjwcnw@
New Member
- 15
I have written 13 Plan Ns since mid-May. Mutual is starting to pick up a bit now and issue time is getting a bit better. However, I am not happy with the latest change in the commission structure for Indiana. Mutual just took away the commission on premium increases. With a commission of only 17%, Indiana agents are getting one of the lowest commissions paid by Mutual. In many states, 21%FYC for years 1-6 on Plan N (19.5% on Plan M) seems to be the norm. Can't make a lot of money on a monthly premium that's under $100, even under $90 at only 17%.
Sure you can... sell more.
You should see MO. I have tons of clients on Golden Rule... 10%. American National... 11%. Putting several on UOO... unless they are new to Medicare or if we're replacing an internal or external supplement... we get 11-14%.
Sounds like you have it good, need to get off your duff, and write more business. Put 1000 supplements on the books and you won't look at what you get paid on each one.
