Physician's Mutual

[Blane]

Hey everyone,
Any advice good or bad for Physician's Mutual?
This advice would be for a newbie to the biz.
Thanks in advance!
Kind regards,
Blane

 

[HomeService]

The company is not bad at all, really. Good training. Here in TX they had been heavy into med supps, but were trying to push a major hospital under 65 plan, do not know how well that is going for them. { it is not comprehensive major medical} The final expense life plans are good. The long term care is great, if not good. I would say that despite the big push into the under 65 stuff, they are still very senior -oriented, though.

 

[2112Greg]

I like them and am appointed by them. Haven't started any training yet, but the products serve a good purpose and seems to be a heads up company. Good people, too. In my limited experience with them so far, I give it a thumbs up...for sure.

 

[HomeService]

One other thing, there are plenty of leads, lots and lots of leads, however, some of the folks are just calling customer service with a question on an existing policy, so not exactly a lead. But, at least it is a chance to go see them and help them out and get referrals or cross sell, so it is really "kind of" a lead. Some, or most, of the leads are legit, so I would give the leads and marketing program a thumbs up for the most part. Like any lead, it is really just a name and phone number and it is up to the agent to make something happen.

A lot of people call in on the 1-800 phones at the home office -from the extensive TV advertising, some are legit leads, some are not, but again, it's up to the agent to turn it into a positive situation, or not.

 

[TXINSURANCE]

They are running radio ads on AM like crazy in Texas.

Their under 65 plan is laughable, people are selling this as major medical and it is clearly a limited scheduled benefit plan - check their website you can see for your self.

It appears outpatient surgeries cap at several thousand and other low caps exist as well.

It might be a good alternative to major medical if a client is not insurable and not risk pool eligible, however I know for a fact people are selling this as a major medical because we lost a client this week to it which is a shame - they could have had a 100X better plan for hardly any more money.

Of course people buy off the best salesperson not best product at times.

 

[HomeService]

We were not told {in my office that I worked out of} to sell it as major med, we were told to sell it as an alternative to the high cost of major med, but with limited benefits. If an agent or a manager is replacing major med with it, and telling people the coverage is equal, that would be an incorrect thing to do, for sure. It is very similar to UA in the concept of limited benefit to save premium cost.