Settlers PHI

[cptlbc724]

Any feedback on their PHI , underwriting ? Curious how they compare with say a PHI from others out there like Foresters, RNA, Oxford , Lafayette and such. Lafayette I think may be the hardest to figure out. I've only put one client with them and she was probably the healthiest 60 and above client I've seen ( still in my 1st year ). The PHI was 17 minutes which wasn't the end of the world, but the policy still did not get an approval until at least 10 days later. She got a great rate but it left me scratching my head.

I've only heard positive about about Settlers . Trying to get a feel for how they do things and what to expect if I write with them.

Thanks!

 

[Newby]

Any feedback on their PHI , underwriting ? Curious how they compare with say a PHI from others out there like Foresters, RNA, Oxford , Lafayette and such. Lafayette I think may be the hardest to figure out. I've only put one client with them and she was probably the healthiest 60 and above client I've seen ( still in my 1st year ). The PHI was 17 minutes which wasn't the end of the world, but the policy still did not get an approval until at least 10 days later. She got a great rate but it left me scratching my head.

I've only heard positive about about Settlers . Trying to get a feel for how they do things and what to expect if I write with them.

Thanks!

Settlers is a LITTLE unpredictible. They are very strict on medicines and not good for diabetics with insulin.

Great company other than that. I believe they are working on POS approvals which will be a big plus for them.

I agree on LaFayette. I want to like them but they seem very clunky so far.

 

[cptlbc724]

"I agree on LaFayette. I want to like them but they seem very clunky so far."

Their rates are so hard to ignore(Lafayette). But the couple of times that I followed up with underwriting on that 1 case that I put with them, the best answer that I got was well, sometimes it goes through after a week, sometimes it takes longer. That made me feel good inside!!

Thanks for the input on Settlers.

 

[steveadlman]

"I agree on LaFayette. I want to like them but they seem very clunky so far."

Their rates are so hard to ignore(Lafayette). But the couple of times that I followed up with underwriting on that 1 case that I put with them, the best answer that I got was well, sometimes it goes through after a week, sometimes it takes longer. That made me feel good inside!!

Thanks for the input on Settlers.

They have great rates but the underwriting is tough and their telephone interview can be long and hard. Because they have low rates their underwriting is more stringent than other FE companies with higher rates. In my opinion they do not process business as fast as other FE companies.

 

[cptlbc724]

Are you talking Settlers or Lafayette?

 

[Todd King]

Are you talking Settlers or Lafayette?

Or maybe even both?

 

[Newby]

Are you talking Settlers or Lafayette?

Both have great rates. Both have unpredictable underwriting. Both are slow to issue policies.

They are both very good companies with a LOT of room for improvement.

Settlers application and underwriting guide are both top notch.

LaFayette's application is 25 pages long from what I can tell.

LaFayette's rates beat everyone in certain age groups. Settlers is consistently good.

 

[rousemark]

Settlers is consistently good.

Was with Settlers before they had the misfortune to trust Martin Frankel. At that time, we were writing supplemental health coverages through them and they were a wonderful company with which to plave business.. After the Frankel debacle, I turned to other things and only occasionally sold insurance. When I returned to the independent agency business a couple of years ago, we contacted with Settlers again. Haven't written a lot with them but have found everyone in the HO very pleasant and helpful (some of the folks from the old days are still there). So far no real problems on issue but I get the impression their Yes/no app is not really a yes/no app. Especially since they started asking for drugs being taken to be listed in the agent's remark.. POS is normally fairly quick, efficient, and painless, taking only a few minutes.

 

[Newby]

Was with Settlers before they had the misfortune to trust Martin Frankel. At that time, we were writing supplemental health coverages through them and they were a wonderful company with which to plave business.. After the Frankel debacle, I turned to other things and only occasionally sold insurance. When I returned to the independent agency business a couple of years ago, we contacted with Settlers again. Haven't written a lot with them but have found everyone in the HO very pleasant and helpful (some of the folks from the old days are still there). So far no real problems on issue but I get the impression their Yes/no app is not really a yes/no app. Especially since they started asking for drugs being taken to be listed in the agent's remark.. POS is normally fairly quick, efficient, and painless, taking only a few minutes.

There are a couple of areas where they can honestly answer NO to ALL the app questions but will be a decline. That shouldn't be possible but once you learn them, you remember them.

 

[hockeyday]

what about CSA they are very easy to deal with