UoO Increases

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! :wacko:


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.
 
Yep, saw the memo yesterday.
Agents would be well advised, in my humble opinion, to bring folks to Gerber, for example.

FinalExpenseByPhone.com - Gerber Life Contracting

Some have even proposed rolling those that came into January from closed out plans. Those that go guaranteed isse as a result of terminating PFFS plans but have horrible health are still within their 63 days to get guaranteed issue. If they don't, they face certain ruin with these rate increases in January 2011.

Since they're still in a G.I. window, they could go to Gerber now AND increase their 12 month rate lock out another couple of months. They might have a more stable rate increase forcast, too.

What is certain, though, is that the two extra months at lower rates are in their best interest (reduces/eliminates replacement concern). Plus, Mutual and Gerber are not the same entity and these are not considered "internal" replacements. (This does not matter in AR or MO, of course.)

It's something to consider... It's throwing these brand new (1/1 eff) United of Omaha people a lifeline before they get stuck in the death spiral of claims & rate increases.
Thanks for this. Now I have to keep myself updated.
 
Yes, completely sure. Check with underwriting to make sure for your own sense of well-being, though. It's based on time and it is not a "one-time election period" like in the M.A. world.

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! :wacko:
 
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.

========================================

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! :wacko:

Had same situation happen to me this year on a lady that lost a pffs with coventry and got sold a 220 per month bankers life G. I rewrote her into Admiral F for 150 a month. She was still GI, didn't even do the medical questions just sent them the notice of plan cancellation.
 
It sounds like the old block of business with United of Omaha will get the rate increase, but not new enrollees....although I'm sure that will come eventually. According to that memo, it shows a 0% increase for new med supps....24% in Michigan anyways for the old block of business. It looks like they're letting new enrollees in under the lower premiums..????
 
What kind of f'd up self-serving advice is it to promote Gerber. They've been writing Med Supps for what, two or three hours now. How does anyone know if they will or won't have a 30% rate increase in the near future.

I'm so tired of people pretending to answer a question with obvious recruting.

If you want to recruit, add some crap to your signature as I did. Then either help or insult but STOP RECRUITING. (Especially when you've stolen pretty much everything you've done from others).

Rick
 
(Especially when you've stolen pretty much everything you've done from others).

Rick

There's that hostility we've all been waiting for in an otherwise productive thread. Thanks, Rick.

It does serve our clients to stave off an increase, even if for just two months. If their increase is 24% and they're paying $150 per month having come out of PFFS termination, that's a $72 savings for them. We don't have a crystal ball as to what any other company's rate increases will be in the future. This one's a bird in the hand, though, a savings and rate lock for two more months simply because they can.

The carriers have confirmed this is not only legitimate, but is in the best interest of the clients. By adding value to the agents and their clients through this piece of helpful advice, you're right, it does tend to bring agents that wish to work with me.

Stole from someone else? I don't use a word used by anyone else in my marketing or methods, because what I gathered when starting was proven over and over again not to work. My marketing methods were all created by me, including the effective use of internet leads, telephone enrollment using interactive screenshare and a modified methodology applied to existing E-Applications that no one anywhere else is using but is 10 times more effective than what is company-taught. This is why agents that have tried cold calling with a magical script and a over-burned list and plenty of lumps on their heads from banging against the wall are trying to come to my more efficient method; because it works.

You have wrong information, but plenty of animosity.

Why don't you try to bring value here instead of insults? :err:


.
 
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Why don't you try to bring value here instead of insults? :err:


.

In your case, you responded the question with a link to contract through you for Gerber. Had you simply pointed out that Gerber was an option without recruiting, I would not have insulted you.

But when the shoe fits....

Rick
 
In your case, you responded the question with a link to contract through you for Gerber. Had you simply pointed out that Gerber was an option without recruiting, I would not have insulted you.

But when the shoe fits....

Rick


OK.. to ease your suffering: Gerber Life | Child Whole Life Insurance Quote
- - - - - - - - - - - - - - - - - -
Already called all my active customers today, they were shocked I called them, literally saying things about how they can't imagine that any agent would call them to try to save them money on a policy they had already sold them. Got 3 referrals today from people that knew other people with MOO policies. Wish they'd increase rates more often.


Glad I could help with this idea.
Rick, this is called adding value.
 
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It does serve our clients to stave off an increase, even if for just two months... This one's a bird in the hand, though, a savings and rate lock for two more months simply because they can.

OK -- So why not give your client 3 months by REQUESTING A MARCH 1st EFFECTIVE DATE 30 days out? :1rolleyes:
 
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