National States Goes Tits Up...

[G.Gordon]

Got a call from our FMO to stop all National States production. They are in a bad way... as if we didn't know that was coming.

Glad we have less than five clients on them.

 

[craig_ritter]

G:

Is "tits up" the technical term for rehabilitation?

I saw this too, blogged here.

 

[Frank Stastny]

I received an e-mail from them this morning. They clearly stated that claims and commissions will continue to be paid and other than accepting new applications it will be "business as usual".

They are not going bankrupt and ceasing to exist. This may be a temporary situation.

I prefer to look on the positive side of announcements like this. "Tits up" may be the "technical" term, just one I am not familiar with, well at least as it applies to insurance companies.

 

[G.Gordon]

"Tits Up" is the exact term for it.

 

[somarco]

 

[WinoBlues]

Up, Down, Sideways or Hanging. All cool with me.

 

[Newby]

I have some clients that have their LTC plans and are supposed to be able to recieve 75% of all the premiums they have paid in with no loss of benefit. This is the year they get the refund.
I would think too many of those could bury the company.

 

[arnguy]

Bob, where is that location? I have got to see that!

 

[MedSuppPro]

Where is Yoda when ya need him...
Didn't a few of us "chicken littles" warn others about this!!!
And yet it looks like some are still in denial.

Looks like the chickens have come home to roost! ​

 

[Yoda]

Where is Yoda when ya need him...
Didn't a few of us "chicken littles" warn others about this!!!
And yet it looks like some are still in denial.

​

/quote]

"Frankie" is like the office supervisor on the 97th floor of the world trade center who is yelling out to the sheeple "just go back to work folks thats just a little fire over there in the other trade center tower....nothing to get excited over! "