What Do You Use for Proposal Quotes for Groups?

[djs]

Yellow pad. Simple and it works.

"Mr. Prospect, here is a summary of what may be available, but the numbers aren't even worth the paper it's written on without an underwritten offer from the carrier. Are you comfortable putting in applications to get some firm rates?

Don't make this more complicated than it needs to be.

Hmm, different in different states. Here in California, you can quote small group with pretty strong confidence of the final premium.

Sometimes carriers put health insurance on sale and play with the RAF factors (rate adjustment factors), but unless you miss the 3,254,512 things they mail you about this, you'll know about it.

Dan

 

[somarco]

Max rate up on small group in GA is 67%. On most small groups, when I know what the conditions are (and that is most of the time) I just tell them to multiply the quoted rate by 1.67. Neither of us are ever surprised.

 

[djs]

Medical conditions don't matter in CA for small group. Most they can rate a company is up or down 10%, but it doesn't take long to know to use the +10% for all new business.