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Switching from a Mutual of Omaha Company to a carrier whom is cookie cut from the same actuary department is counter-indicated. Personally, I would look for another carrier...
Mutual never met a rate increase it didn't implement.
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GENERAL QUESTION:
Are we sure that the Guarantee Issue applies to people whom are already covered by a MedSupp as of January 1st. These people have already used their Guarantee Issue and have an existing MedSupp in place. The extension is for people who failed to sign-up prior to January 1st.
For those whom have already signed up for and have an existing MedSupp in place as of January 1st; are we sure that another carrier couldn't say that our client has already used their Guarantee Issue and is not able to switch without answering the health questions?
Isn't this a MedSupp replacement?
I'm simply asking a question!
From what I understand and have applied it this way as well, the GI period is for a number of days, 63. Not per applications. It's not a "one time" GI usage. It's been working just like an AEP where the the client can change as many times as they during the AEP.
I have only used it once where a person that lost Coventry at the end of Dec. had signed up with National States. I put the person with Family Life. I had to use the GI or they would not have qualified. I had to get a new letter from Coventry because the other agent had taken it and used it for NS. I did send in a replacement form listing NS. So, it wasn't slight of hand.
I know of other agents that have done the same thing. If the GI was only to be used once, I believe these companies would have stopped us from doing what I described.