New short-term med

Discussion in 'General Insurance Agent Discussions' started by Sam, Sep 14, 2006.

  1. Sam
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    Sam Founder Administrator

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    Does anyone know anything about Celtics new short term med? They just called to anounce that they are offering it in MD on 10/1, that they have slashed their rates, and that they are allowing 3 consecutive contracts. Is that legit? Do they offer it in other states?
     
  2. Crabcake Johnny
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    Crabcake Johnny Guru

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    Maybe Celtic will call me and say they're actually planning on paying agents more than 10% commission.
     
  3. Sam
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    Sam Founder Administrator

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    Yep, that was next on their list. Trying to explain how with bonuses, it is really 20%.
     
  4. Crabcake Johnny
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    Crabcake Johnny Guru

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    Right....if I give them $25,000 of volume when their best product available in MD offers 6 doctor visits.
     
  5. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Had a long talk with one of Celtic's product managers who's an old friend from Chicago. They target the occasional writer of a health case (ie- stockbrokers, p&c agents and the like) who don't know any better - hence the 10% commission/bonus structure. When I told him I could easily get 20% commission minimum from case 1...he had no answer for that. They don't care.
     
  6. K-Dub
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    K-Dub Super Genius

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    Celtic

    I get more crap in the mail from them than any other company! Overpriced in the market here and not a name people feel comfortable with. They need to do better! If they paid 30 I most likely still would write anything they have.
     
  7. somarco
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    somarco That Medicare Guy

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    For the longest time all they could write in Jaw-ga was STM. Nothing else was competitive. They got competitive for about 2 weeks and paid the 10 + 10 on the first contract. I wrote a case. They screwed it up. Took almost a month to issue and 5 months to pay the commission . . . as earned of course.

    By the time I finally got paid their literature was in the circular file.

    Their rep calls about once a quarter to see if I have anything they can quote for me. Of course it is a new rep each time so I tell them the same thing.

    The last rep used to call and give me prospects. Do you have anyone looking for health insurance that I can quote.

    The conversation usually stalls out at that point. Have no idea why.

    The one case I tried to move on renewal but the guy likes them. Guess because he has never had a claim.

    They were one of the first to have online quoting but now there is no reason to use them at all.
     
  8. Sam
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    Sam Founder Administrator

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    Really, my only question is about their stm. If you could write three consecutive apps on someone, that is worth exploring. I have a lot of stm bussiness that wants to keep it longer than 6 months.
     
  9. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    You might want to check out Secure 12x3 STM. www.hpa-inc.com
    They're here in Tampa (mktg dept) 800-277-3323
     
  10. somarco
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    somarco That Medicare Guy

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    At least 2 carriers offer STM for 12 months.

    Fairmount & Standard Security.

    The Std Security plan can be "renewed" 2 more times for up to 36 months coverage.
     
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