Plan N United of Omaha

[G.Gordon]

"Best" is what ever fits the particular client you are in front of. Have three or four good companies with various types of plans. What I mean is that you may be sitting in front of someone that wants to add $2k to her $5k plan that is 10 years old. Re-writing her a $7k plan will not be financially wise due to the advanced age, etc. Some companies will write $2k some start at $5k, some companies have different health questions, etc... it's a balancing act of finding the "fit" on the fly.

Unity, Mutual of Omaha, Standard Life, Christian Fidelity/Oxford, Royal Neighbors...

Have immediate benefit plans and graded plans.

 

[mjwcnw@]

Has Mutual/United of Omaha come out with Plan N rates for Indiana yet?

 

[Frank Stastny]

Has Mutual/United of Omaha come out with Plan N rates for Indiana yet?

The rates have been filed but last time I checked they are still pending. It's been a while though.

Plan N for a 70yr old non tobacco female is $97.27 in zip codes 462-464. A Plan F for that same female, the monthly premium is $135.15. A Plan G is $110.98.

 

[walleyeb1]

Well the long and short of this is, if you are replacing a mutual or affiliated company policy with a mutual or affiliated company policy and you are not their current agent of record, you won't be paid. The agent of record, the original agent gets paid. It is spelled out pretty clear in the producer contract.

 

[G.Gordon]

I'm usually split on this issue. Do I gain a client for life, but do without getting paid until I re-write them on a MOO product (after first time I re-write them a MOO product) or other company's product later or do I walk? I usually write them knowing that sooner or later they will show up on my commission statements.

Help enough people get what they want and you'll allways get what you want.

 

[+zeek13]

In reference to replacing United World business with Mutual of Omaha's other company United of Omaha you will not get advancing. I thought you would because I had ask 3 people in company a couple of months ago and they said you would get advancing. Well I replaced 2 United World's with United of Omaha and made 40.00 They reduce your commission rate by 50% and pay you as earned.

 

[MedSuppPro]

+Zeek13 it seems we all just recently got the not so good news. Mutual has a new set of commission rules. Maybe Mutual reads our posts.

Affiliate Company Replacements are calculated at the external replacement commission rate. In other words, use the replaced policy commission percentage (UW) and not the new higher UofO commission rate. Multiply that by your 50% commission rate reduction and you get 40 bucks.

You might make a living referring your existing clients to Mutuals 800 Direct Enrollment Department and your commissions will not be cut in half. Has anyone tried this?