- 5,932
Seems Sagicor prices out very close to many Medically Underwritten carriers.
Why go through the hassle?
Why go through the hassle?
TERM FORUM - Sagicor Non-Med vs any Medically UW . . .
- Thread starter myinsurebiz
- Start date
Well, for one, their "black box underwriting" doesn't always come back with the best offer for an insured.
I just had a client issued standard rates with them when I thought that she should be preferred. Took her to Banner, got an exam done w/ medical records, ended up getting preferred plus with them.
Unless the client can say "no" to pretty much all of the medical questions on the app, you don't know what you're going to end up with (at least in my experience).
I like Sagicor, but like every other carrier, they're not perfect.
- Thread starter
- #3
- 5,932
Thanks Ray.
Was thinking more towards the healthy, younger crowd - 25 to 45.
I haven't ran in to many health issues so far - maybe a few with diabetes. But pretty much healthy peeps.
I really don't want to get in to M-UW. But - won't sell the high priced AmAm / Forsters type non-med Term products.
- 1,410
Sagicor is a great product. I just don't see it as one to lead with. The biggest complaint from agents is that they use the client's credit score as a factor in underwriting. But if you're good with all of that then I say to do you!!
- Thread starter
- #5
- 5,932
- 29,467
Sagicor is a great product. I just don't see it as one to lead with. The biggest complaint from agents is that they use the client's credit score as a factor in underwriting. But if you're good with all of that then I say to do you!![/QUOTE]
- 915
+1 to what Ray and Dojo say.
If you do any volume with Sagicor, you'll find their inconsistencies with approvals.
Especially their tweaking of LexisNexis using their risk classifier. They tighten and loosen it up often resulting in inconsistent offers. It's not just credit, there's other data like driving history and other public records like criminal offenses.
More info on LexisNexis risk classifiers: http://www.scorgloballifeamericas.c...ter/Pages/LexisNexisRiskClassifierPreview.pdf
Many of our declines get simplified issue term coverage with other companies no problem that don't use LexisNexis. This is happening at other carriers as well by the way - not just Sagicor. With that said, a lot of higher volume agents pass on Sagicor on simplified issue because of this.
Using this type of data is the future of underwriting and I appreciate them for doing this on the front end and trying to figure it out. I hope they do - I really like Sagicor.
If you do any volume with Sagicor, you'll find their inconsistencies with approvals.
Especially their tweaking of LexisNexis using their risk classifier. They tighten and loosen it up often resulting in inconsistent offers. It's not just credit, there's other data like driving history and other public records like criminal offenses.
More info on LexisNexis risk classifiers: http://www.scorgloballifeamericas.c...ter/Pages/LexisNexisRiskClassifierPreview.pdf
Many of our declines get simplified issue term coverage with other companies no problem that don't use LexisNexis. This is happening at other carriers as well by the way - not just Sagicor. With that said, a lot of higher volume agents pass on Sagicor on simplified issue because of this.
Using this type of data is the future of underwriting and I appreciate them for doing this on the front end and trying to figure it out. I hope they do - I really like Sagicor.
- 1,410
Last edited:
- 15,319
+1 to this guy finding an upline to work through rather than asking question after question here.
It's not like he actually writes business.
Rick
It's not like he actually writes business.
Rick
Similar threads
