Same here.
Mutual of Omaha/United of Omaha
- Thread starter insurance0707
- Start date
Same here.
motorcyclegogo
Expert
- 83
I called on a few apps that I have in there pending and they said it is taking "roughly" about two to three weeks. Now in another words, too damn long! LOL No they seem to have gotten slower through the end of June.
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I just got off the phone with MoO and this particular case was received on 6/7. Today is 7/6 and the guy on the other end of the phone told me that the underwriter that had this case was working on 6/3 and 6/4 dates so my case dated 6/7 should be up and issued by the end of the week. Now this app is a guaranteed issue Plan D. So I guess there is no rhyme or reason to when/how the apps are issued.
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- Thread starter
- #63
- 1,240
I'm beginning to think the quickness on your policy getting issued is determined by the underwriter you're getting. I have some GI plans sitting there for 25 days and other GI plans being issued within 3 or 4 days. Doesn't seem to matter if it's a Plan F, G or N.
Just like there's really good agents that get things done, I think that's probably true with underwriters....although when the plans are GI I don't know what the hold up is
Just like there's really good agents that get things done, I think that's probably true with underwriters....although when the plans are GI I don't know what the hold up is
- 1,255
Does anyone know 4 sure if MoO is doing telephone verification calls for the "near GI" N plans?
I hope not! If someone has ESRD, Mutual is going to find out within the two year contestability period.
I hope not! If someone has ESRD, Mutual is going to find out within the two year contestability period.
- 148
One of my agents wrote 8 plan "N" and it has taken every bit of 3 1/2 weeks to get them issued in a GI State.
Can you say Mo-lasses!
Can you say Mo-lasses!
If someone has ERSD they know it and should have disclosed it on the application. Having serious kidney problems is a big deal in a person's life. I had one pending N that had some kidney function issues(I probed for severity and treatment discussions with doctors etc).
They went to the doc "while" we were waiting on it to issue (long time). The daughter called me and told me they are doing ONE more option before talking dialysis. WHAT THE HELL? When did this come up?
Basically I told the daughter we needed to leave her on her plan C with Blue Cross at $220/mo due to her possibly having not answered the ONE AND ONLY health question correctly.
As a rule of thumb... if someone has any kidney issues I would be against writing them a GI N. It has a high likelihood to come up and bite you in the butt.
- 7,066
I may be reading your post incorrectly but why would you not want a company to do verification calls?
It is the ultimate CYA for an agent. I would be very comfortable having the company do a verification call on every app I submit.
I can think of only one reason why an agent would not want the company to do a verification call.
I don't see the added time it would take to get the policy issued as a problem. I tell my new client that it will typically take three to four weeks for the policy to get issued, possibly more during certain times of the year. As long as I explain that to them at the time the app is written they understand.
The agents who run into problems are the ones who tell the new client that they will have their new policy in a couple of weeks. Apparently they feel they need to say that to make the sale, I don't. All companies will allow the agent to set the effective date up to two months in advance of the application date. Almost all will allow three months.
I always tell them it will take longer than I anticipate. If they get it in a shorter period of time then I'm a hero. When I sell a MOO policy today I tell them that it may take up to six weeks to get it issued. They have all been good with that because I told them that when I wrote the app.
I don't understand why everyone is so upset with the length of time it takes for the policy to be issued. It has never presented a problem for me.
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It just seems weird that the customer service rep told me that the client had coverage June 1st, but the client did not get approved until June 7th. So the basic assumption is that they will be covered on the effective date stated, but they will not receive their policy paperwork for up to a month later. It just seems wierd, but I guess it is no difference then binding life insurance and having coverage while the app is going through.
(and 'yes' I did quote myself. Ha!)
- 7,066
As long as the application date is not after the effective date it doesn't matter when the policy is issued. It will be issued with the effective date stated on the application.
I can date an app July 31 with an effective date of August 1, not get the application to the company until after August 1 and when it is issued the effective date will be August 1.
- 1,255
YUP!!! I asked a simple question. Just trying too open the discussion up. Just trying to understand. And then the insinuator steps in with:
"...why would you not want...I can think of only one reason why an agent would not want the company to do a verification call."
And what reason would that be Frankie?
Definition of insinuation: an indirect (and usually malicious) implication
Gordon has a good argument for the verification call.
