United of Omaha Underwriting

[VaDwayne]

I just spoke to an MOO underwriter because I have one application that was scanned into their sytem 34 days ago, and she told me that they are currently working on applications scanned into the system in the first week of June, that's how far behind they are.

 

[medx]

We have the same thing taking place. Some get issued with a week, but most are taking 3 to 4 weeks, and a few even longer....
Medicare Supplements

American Seniors Insurance

Medigap Supplement

 

[sman]

That's crazy seeing that I had one approved last week that had been in the system 3 days. I've also had MANY that have been in the system for 20+ days and haven't been approved. No rhyme or reason.

I just spoke to an MOO underwriter because I have one application that was scanned into their sytem 34 days ago, and she told me that they are currently working on applications scanned into the system in the first week of June, that's how far behind they are.

 

[insurance0707]

I was told by another agent that some of the GI plans are issued immediatly when they are entered into the computer and others go to underwriters. That would explain why some of our plans are getting issued quickly and some just sit there...kind of hard to kiss up to a computer

 

[sman]

I've had some GI sit there for 20+ days.

 

[VaDwayne]

I've had some GI sit there for 20+ days.

I now have 2 GI's that have been in the system for 29 days. I have 5 apps. over 21 days, 4 over 15 days.

I just finished a Medicare presentation to the local Kiwanis club a few minutes ago, and I certainly hope that MOO gets things straight soon, because if I get new clients from the presentation, I will get kicked out of the club, tarred and feathered, or shot, if that group of seniors has to wait a month to get approved.

I got my W.O.W. rates this morning, and they are much higher than MOO, and no plan N, which is not that big of a deal to me, but I have written tons of business for them and would have liked to continue doing so.

 

[fetam]

So for a new guy...can you answer a question?

If I sell a policy today 7/13/10, and I put the effective day as of 8/1/10, and it doesn't get approved until 8/15/10...what coverage do they use from 8/1/10-8/15/10 if their old plan was canceled as of 8/1/10.

This is the part that I just don't get yet. Sorry for the basic/silly question. I just want to make sure my clients are covered 100% Thanks!

 

[sman]

You would get an 08/01/2010 effective date.

 

[VaDwayne]

So for a new guy...can you answer a question?

If I sell a policy today 7/13/10, and I put the effective day as of 8/1/10, and it doesn't get approved until 8/15/10...what coverage do they use from 8/1/10-8/15/10 if their old plan was canceled as of 8/1/10.

This is the part that I just don't get yet. Sorry for the basic/silly question. I just want to make sure my clients are covered 100% Thanks!

They would be covered as of 8-1. I never cancel someones plan without the new one being approved. You are just asking for trouble, and a lot of headaches, if they don't get approved. I certainly hope someone didn't tell you to go ahead and cancel their current policy on the effective date of their new coverage, without knowing first if they have been approved. If they did, run away from them very fast, because you sir are dealing with a dufus.

I know some guys say go ahead and stop the bank draft, blah,blah,blah, because their policy can be reinstated if the new one doesn't go through. First of all, why would you want to look like a buffoon, and second, why would someone want the headaches.

Set the effective date far enough out that you will know whether they are approved or not, and also have time to stop their bankdraft and cancel their old coverage.

If I sold a policy today for MOO, and I'm ashamed that I didn't, I would set the effective date for 9-1, explain to them that MOO is swamped because they offer the best premiums and EVERYBODY is switching to them. It will make the client feel like they made a wise decision, you don't get phone calls every week wondering why it's not issued, and the client knows the process upfront.

 

[DS4]

So for a new guy...can you answer a question?

If I sell a policy today 7/13/10, and I put the effective day as of 8/1/10, and it doesn't get approved until 8/15/10...what coverage do they use from 8/1/10-8/15/10 if their old plan was canceled as of 8/1/10.

This is the part that I just don't get yet. Sorry for the basic/silly question. I just want to make sure my clients are covered 100% Thanks!

Is the app GI or underwritten?