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They have the links in the email they sent out. Hard to find it's near the bottom. Not sure I have witnessed such a quick hard line change like this before. Crazy stuff
Royal Neighbors Changes
- Thread starter Mavrik
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They have the links in the email they sent out. Hard to find it's near the bottom. Not sure I have witnessed such a quick hard line change like this before. Crazy stuff
Are you sure on this? My understanding from looking at the new agent guide is that you can do a paper app under certain circumstances but you cannot do the interview at point of sale. Sounds kinda like the rollout of Obamacare here.
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That's how I read it to. Do the paper app and you fax it in then they do the phi. I have used Equitable paperless app for med supp and really like it. Simply run through the questions and make the call.
I felt like these changes were positive.
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I really wish they would've brought the rates down with the new app, oh well.
I am beginning to think right the opposite of Galt.. Think I favor companies that offer no POS. Sure, it is nice to get the approval on the spot.. But to what purpose? With most companies, it does not result in any faster payment of commission. A few companies give you the actual policy number at the end and if you're replacing that can be nice because you can go ahead and cancel their current coverage before you leave the house. But, with some of those that don't give policy numbers, they can rescind the approval you received at the end of the POS before they issue the policy. An experienced agent has a very good idea of whether a client is acceptable to a company 98% of the time so the enhanced POS doesn't really do much good in that respect.
The POS helps protect the company somewhat from clean sheeting by the agetns but does little to reduce the agent's liability in case of a claim problem. The family's lawyer will claim that you encouraged the insured to answer no on the health questions, saying that it wasn't really important.
The enhanced POS adds another 25 minutes to an hour (in case of husband and wife apps) to the time you spend on each sale. That is time you could be spending on the next interview.
The POS helps protect the company somewhat from clean sheeting by the agetns but does little to reduce the agent's liability in case of a claim problem. The family's lawyer will claim that you encouraged the insured to answer no on the health questions, saying that it wasn't really important.
The enhanced POS adds another 25 minutes to an hour (in case of husband and wife apps) to the time you spend on each sale. That is time you could be spending on the next interview.
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You cannot do it the old way. You can fill out the app and send it in and they will call the client later and do a phone interview.
Equitable also allows you to send in the paper app with no phone interview at all unless something turns up on the script check or MIB that they need to clarify.
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So... Royal Neighbors will not allow an agent to complete a normal paper app and do a POS decision like we have always done? Am I understanding you correctly?
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If you do a paper app you can't do a phone interview. But they will call 100% of them and do an interview when you aren't there.
It's not a good change at all unless you are into phone sales.
It's not a good change at all unless you are into phone sales.
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Yep, just re-read the Agent Guide.
Guess I wouldn't figure a major final expense player like RNA would get it so terribly wrong.
Let's hope they go back to giving an option for a paper app and POS decision in addition to the voice-app.
Travis and John -- does not RNA council you or Equita on product-changes?
How can the people there be this stupid?
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