What's Your Opinion on MoO PIP?

Nov 26, 2018

  1. Abrasax
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    Abrasax Super Genius

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    Open to all occupations, simplified (non-med) underwriting up to $3,000 a month.

    Only for healthy people but this seems like it would be good for getting DI issued quickly for middle to low-middle income Americans.

    What's your opinion?
     
    Abrasax, Nov 26, 2018
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  2. Tahoe Ray
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    Tahoe Ray Guru

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    It's really weak but also really easy to process.

    It's open to all occupations because it doesnt cover any occupational injuries.

    But who's to say if your occupation caused the injury?

    If you're a data entry person and develop carpal tunnel, did your job cause that injury? A claims manager could certainly make that case.

    It's also expensive. Compare a similar plan from Illinois Mutual, Assurity, or even MoO's Choice plan. All of those carriers also waive medicals at most of the levels that PIP goes up to.

    If you want something really simple, it's fine (and better than having nothing).

    In reality, it is the "mortgage protection" of the DI world.
     
    Tahoe Ray, Dec 7, 2018 at 12:37 AM
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  3. Abrasax
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    Abrasax Super Genius

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    This last part is what I was thinking, so thanks for confirming. The on the job/off the job distinction seems weird and restrictive to me too.

    Is there much of a difference in UW between PIP and the other plans with medicals waived? I assume that since they don't grade for occupations, someone with a higher risk job might pay less through PIP than they would with a plan that rated it up for the same occupation?
     
    Abrasax, Dec 7, 2018 at 5:53 AM
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