Our Friends in Omaha, Neb

May 23, 2008

  1. policy doctor
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    policy doctor Guru

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    Ahhh yes, those fine business associates of ours that always brag about the Wild Kingdom and being in business over 100 yrs, have found another way to skewer our living.

    First they're doing a fine job decimating the Med Supp mkt as a living for the agent.

    Now they have entered the Guaranteed Issue FE mkt.

    They are using direct mail, and telemarketers enroll via phone.

    No health questions asked. May purchase up to 25K. Graded benefit 2yr wait.

    Male...N/S 65 10k = $66/mo

    Female..N/S 64 19k..$42/mo

    Product not available to agents. Call them for a quote
    1-800-775-6000. Their traditional wl fe is only $3.00 less for a healthy person.

    I called to let them know I appreciated them competing against their agents. Why don't you, if you're on board?
     
  2. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    They should really watch what they are doing. They are going to be paying out tons of claims in the next few years if they keep this crap up.

    They are offering GI med supps to anyone that comes off of a MA, they target open enrollment, and now they are offering GI life for basically nothing. I will predict MOO is going to be up **** creek in about 10 years.
     
  3. InsuranceJosh
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    InsuranceJosh Super Genius

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    When I saw what they wanted to pay me on a medsup I just said no thank you.
     
  4. senior-advisor-indiana
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    I got lucky and found a decent med supp commission. I would not have sold them for 15-16%.

    I would like to know how they are going to pay claims on all those death claims in 3-5 years with the low ball premiums. :goofy:
     
  5. policy doctor
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    Well the one lead I got back was the one that told me about this product. LOL..

    so I guess my chances of selling FE is slim, nil and zilch to this couple. Bad part is I laughed out loud when Prospect read me the quotes. Told her they were lowballing them and that underwriting would re-quote.

    Little did I know.

    Hope I can sell Part D
     
  6. senior-advisor-indiana
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    I wonder if they are doing this in Indiana. I also wonder what the client gets back in the 1st 2 years.
    You only got one lead back? Out of 1k? Thats horrible.
     
  7. policy doctor
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    Yes it is horrible. Hoping more will stagger in. Could be the area is over-farmed.

    Now you see why I was amazed you got what you got.Time to move to Spencer, Ind.

    I think they get back premium...just call that number and ask for telemktg operator for guaranteed issue. I was so po'd after the quote and agent restricted i heard little else.

    These prospects have Alzheimers on him and she is insulin diabetic, HBP and breast cancer survivor 5 yrs. Whee....
     
  8. policy doctor
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    Correction: Female quote was for 10K, not 19k as posted.

    Typo Error.
     
  9. The Rabbi
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    The Rabbi Guru

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    I'm so glad to be 61. Won't be long till I can walk away from the business world.
     
  10. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    You only have 14 more years. I am going to retire at 38. :)
     
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