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Good claim info. Thanks. Always good to hear when the insurance company is not actually the devil.
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Just bumping this back up to see if anyone else had a critical illness claim theyean share - from ANY company.
Me personally, I've enjoyed Midland National. Paid out a few of my Living clients claims.
Also, my contract is about 20-30 points higher than other fully underwritten carriers
Good to hear. Do they have critical illness on both their Term and IUL?
Didn't realize that many LI companies don't have critical .... I thought that was normal.. I ve been selling Penn Mutual 's whole life and IUL ... and they have it ..one more reason to like Penn
Has anyone had experience on a critical illness rider claim they would care to share? Curious how the various companies have handled this. TIA
Penn does not have Critical... only Chronic & Terminal. Just like many others.
I recently had a client receive that benefit on Transamerica LB, I haven't received on ANICO as of yet.
The client had a small 100,000k term she was diagnosed with cancer and basically lost her home and was staying with a family member when I called for a review. She didn't realize she had this benefit on the policy even though It was explained. Long story short she qualified for 25,000k based on the severity of her case and was left with 10,000k at 8.00 a month for the rest of her 30 year term.
This claim solidified a few things for me. First, the annual review was important I did the review about two years passed the time I was suppose to. But, because I did she was received those funds when she needed it the most. Second, I no longer sell any term that isn't living benefits as a matter of fact I have all of the strongest living benefit companies in my portfolio. I really urge other agents to do the same!
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If you are an independent in my opinion just selling living benefits is a good step but looking for and selling the companies with the stronger version of these benefits will encourage other carriers to add or strengthen their own products.
I'm glad to see other agents are selling Living benefit products.