Just found out their support line is not very supportive. Wrote a HDF policy which was approved and then, three weeks later, cancelled. Tried to find out why (the client did not cancel the policy nor did I) and was told I would have to wait 24 to 48 hours for an answer. Meanwhile my client is going ballistic...
United American Agent Support
- Thread starter superdave
- Start date
- 2,452
Does anyone write UA these days? Wow theres a blast from the past. I didn't think they had anything competitive anymore.
They were trying the Bankers line of selling service to justify overpaying for the same plan. when Medicare says they are all the same but price it doesnt hold water.
They were trying the Bankers line of selling service to justify overpaying for the same plan. when Medicare says they are all the same but price it doesnt hold water.
How things change over the years. Late 70s and early 80s UA was "the" company for Med Supps in this area. Once Torchmark bought them, it was all downhill.
- 29,487
The same was true with Globe Life. Funny how Torchmark has that affect on companies.
JustinTime
Expert
- 94
As of 2015 They actually had approximately 5% of the total Medicare Supplement market share in the state of Florida, which makes them the #3 Med Supp carrier in Florida for total number of Medicare Supplements.
65% FYC 15% lifetime renewal for GA's. Had deposit authority to deposit checks made payable to company so you could hold out your initial commission and submit the balance to the company. No POS, no mib, no script check. About 80% of the med shops were written on an annual premium basis with the first year collected with the app. GOOD OL' DAYS to be selling supplemental health. FE was just sold as an afterthought in those days.
- 29,487
Those one page apps were nice too. They didn't even ask about diabetes.
Unfortunately, I was captive and only got 40% with 10% lifetime renewals. Lots of people paid cash back then and we kept our share and turned in the rest. On a monthly we turned in $1 of the policy fee and kept the rest. Those policy fees paid for your gas.
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- 4,707
Those were my days. United American and Pioneer Life ruled the marketplace.
60 & 70% first year commission. Collect an annual premium check and remit the net to the company. That was a fast advance!
You have to remember, this was prior to Standardization, no limiting charge on Part B.
Both of these companies covered 160% of the Medicare Part B approved amount. And, believe it or not, there was still something left over for the Medicare Beneficiary to pay!
Back in those days, most specialists did not accept Medicare Assignment.
If you were selling a Med Supp that only paid the 20% for Part B, the Medicare Bene had huge exposure.
I had many clients that had more than 1 Med Supp. This was prior to Crossover. The Medicare bene did their own billing.
