Standard Life and Casualty Changes

[jacobtn]

ForeThought used to do the same with their Ht / Wt chart, it was locked in a vault there and only the head u/w knew what it was... j/k On the other hand if an agent has someone marginal in that dept you are likely to send them elsewhere which is possibly the method to their madness... they would rather not have those borderline cases. I can see both sides of the issue... and YES, some agents would coach a client.

I see both sides as well, unfortunately the unethical agents hurt it for all of us. We are going to use their old one as a guide and if they are within 10 lbs of the max just send them elsewhere. I had a lady today that was 5'6" and 175. Overweight, but not obese. it's the borderline cases that you aren't sure about that the chart is handy for.

 

[rousemark]

They are not coming up on my FEXquotes and I don't see New Era yet.

I see Gordon posted earlier that SL&C pulled the product from Florida.
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I see both sides as well, unfortunately the unethical agents hurt it for all of us. We are going to use their old one as a guide and if they are within 10 lbs of the max just send them elsewhere. I had a lady today that was 5'6" and 175. Overweight, but not obese. it's the borderline cases that you aren't sure about that the chart is handy for.

The new app makes mention of HT/WT chart 1 being preferred and HT/WT chart 2 being std even if they do not smoke. But, I can't find either chart on the website so I don't guess that has changed. . Guess we will just have to send them skinny folks.

 

[GMDM100k]

Just received notice of changes to Standard Life and Casualty's FE program. Rates up slightly but still should be among the lowest on FEXQUOTES in most cases, commissions reduced years 6-10 but the big change is the underwritting.. Ages 50+ will be a true Yes/no app and POS. Know before you leave the house if case is accepted.

What were the commission changes? I think that would be the most important change if I were sending biz to them..

 

[rousemark]

What were the commission changes? I think that would be the most important change if I were sending biz to them..

years 6-10 dropped from 7% to 3% at my level.

 

[FEX Quotes]

They are not coming up on my FEXquotes and I don't see New Era yet.

They are not approved in CA.
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The rates I am seeing for New Era are more middle of the road, competitive with Colombian than SL&C.. What am I missing? The plan that is showing up (Tennessee) is their Standard Level Benefit.

In TN, you are correct, but change the state to say PA and it's another story. Like SL&C, they are not represented in many states

 

[GMDM100k]

years 6-10 dropped from 7% to 3% at my level.

Would that effect the business you already have on the books or just new business. I've never had my commissions lowered so I'm not to familiar with how that works.

Its kinda scary to me that a company can lower your commissions whenever they want!!

 

[jacobtn]

Would that effect the business you already have on the books or just new business. I've never had my commissions lowered so I'm not to familiar with how that works.

Its kinda scary to me that a company can lower your commissions whenever they want!!

New business only is affected.

 

[rousemark]

Would that effect the business you already have on the books or just new business. I've never had my commissions lowered so I'm not to familiar with how that works.

Its kinda scary to me that a company can lower your commissions whenever they want!!

You need not worry.. It will not affect in force business.. Those commissions were set by contract. The contract cannot be changed retroactively. The new commissions will only affect new business written after the new schedule date. If an agent didn't want to accept the new rate, they could simply place their new business with another company.

 

[GMDM100k]

You need not worry.. It will not affect in force business.. Those commissions were set by contract. The contract cannot be changed retroactively. The new commissions will only affect new business written after the new schedule date. If an agent didn't want to accept the new rate, they could simply place their new business with another company.

So if you had sub-agents with them would you get the same spread. Would the cut be level across the board or would they decrease the higher level contracts with sub-agents but leave the lower ones the same?

 

[jacobtn]

I see Gordon posted earlier that SL&C pulled the product from Florida.
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The new app makes mention of HT/WT chart 1 being preferred and HT/WT chart 2 being std even if they do not smoke. But, I can't find either chart on the website so I don't guess that has changed. . Guess we will just have to send them skinny folks.

They told me that they had changed it, but werent publishing the tables.