Wrote My First Forethought Freedom Policy Today...

[Crazytiger]

After reviewing their new product, it's obvious they are going after some of Foresters recent business. Their product is practically identical except for the fact they have accidental, grand child, and accelerated death built into the policy whereas the accidental is only optional with Foresters and Foresters doesn't offer the grandchild and acclrated death benefit. The premiums are really close.
The application is different too. I like it! Yea for Forethought cause their final expense products before this one were all crap!

 

[Todd King]

Congratulations!!

I like their new product as well. It's got some sizzle you can sell with the steak.

 

[Focus LTC]

Congratulations!!

I like their new product as well. It's got some sizzle you can sell with the steak.

OHHHHH YEAHHHH

Got any CHEESE to go with your last post?

LOL!

 

[sellinmachine]

I'm as tickled for you Crazytiger, as probaby you are. Always delighted me to see success get started. Many more are to come.

 

[BenS]

How is the underwriting on this?

 

[jdeasy]

I like Forethought almost as much as Monumental.

 

[Newby]

I like Forethought almost as much as Monumental.

Who are you liking these days JD?

My five favorite companies are Oxford, Settlers, Monumental, Forethought and LaFayette.

Of those five you either don't like them or don't use them.

RNA must be treating you really good.
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How is the underwriting on this?

They are quirky in a couple of areas. They are not a good one to go to for anyone on depression meds. And if someone looks overweight I move on to Monumental or RNA or American Continental or Foresters.

The best thing about ForeThought's underwriting is they give an answer at the POS. they do rate up or decline a lot of applicants that others will accept as prefered. If you had to wait a week to find that out, they would be unusable. Since you find out instantly it's not a big problem.

The biggest problem is if you have presold the extra benefits of ForeThought (24 hour claims, grandchild protection, accidental protection) and then have to unwind it.

They are a good company. I think they are only going to get better as they get more experience.

 

[jdeasy]

Who are you liking these days JD?

My five favorite companies are Oxford, Settlers, Monumental, Forethought and LaFayette.

Of those five you either don't like them or don't use them.

RNA must be treating you really good.

I probably do more with Americo than anyone now. Then AmCon, the occasional Foresters and RNA.

Forethought just declined a med sup that I called the underwriters and went over in advance and then they declined him for the reason that his meds "changed" within the last two years. They did, he got off a blood pressure medicine because he didn't need it anymore. They said that was a "change".

They told the clients that it was appealable and to go through the agent for the appeal. I called them to see how to go about amking that appeal and they said that the agent couldn't appeal it. I asked them why they told the clients that and they claimed that they did not say that.

Also, before I submitted the apps on the husband and wife I told Forethought that they would not accept the plans if both were not approved. They said that was fine and I also noted it on the app. They approved the wife and charged her account. When i questioned them on that they said they could hold them in that manner and that I should not have been told that they would.

That is Monumental like stuff. Companies that do that do not deserve to get business, in my opinion of course.

There are too many decent companies out there to fool with that kind of stuff. I won't write another Forethought med sup. I haven't written a Forethought FE in almost 3 and half years, so I probably won't be missing them going forward.

 

[Justin Bilyj]

If I am not mistaken, Foresters atleast in Ohio has an accelerated DB and an accidental DB built in for public transportation. Grand Child rider wont sway anyone who you already havent qualified as a buyer. It might sell the company a bit more but imo if they are buying any company will do.

 

[Newby]

If I am not mistaken, Foresters atleast in Ohio has an accelerated DB and an accidental DB built in for public transportation. Grand Child rider wont sway anyone who you already havent qualified as a buyer. It might sell the company a bit more but imo if they are buying any company will do.

Foresters does NOT have a quick claim settlement. Quite the opposite. They probably have a nursing home/terminal illness benefit like most FE does. But that doesn't help if they already died.

The accidental benefit with Foresters is a rider at extra cost. That's better than no option at all but not as good as built in for free.

And the Grandchild rider is HUGE to some grandmothers. It's been used with preneed for 20-years and believe me, that benefit sells a LOT of policies.

I'm not saying ForeThought is perfect. They are still working out some bugs. But whoever designed their extra benefits and their marketing materials was definitely world class. I would have to say the best in the industry.