Child Only

[FLM2]

I (personally) have had an STM claim. I've had clients with STM claims. It worked exactly how it was supposed to. Never had an issue. "It will pay if you are transported via ambulance, anything else, probably not."

Just asking (so don't throw anything) if a client calls you right now and needs coverage without an SEP, do you say "Sorry, there is nothing available outside OEP" OR "There is something called Short term medical, but I don't sell it."?

I would think there is just as much liability on a claim that STM would pay on with the first statement. If they are told there is nothing available, then have a heart attack and find out you didn't tell them about STM (which should cover the heart attack if they didn't lie on the app), doesn't that create a liability issue, also?

I will spend as much time as needed with a client to find a way for them to qualify for a SEP, this has worked out pretty well so far because there almost always seems to be a way to get one.

If they don't qualify for a SEP and I say, 'I have no options available for you, there is something called Short Term Medical but I have chosen not to offer it to clients, you can search online for it if you like' I have no liability. I am not required to sell a specific product, as an independent agent I can offer whatever subset of plans I choose, right?

 

[kgmom219]

I will spend as much time as needed with a client to find a way for them to qualify for a SEP, this has worked out pretty well so far because there almost always seems to be a way to get one.

If they don't qualify for a SEP and I say, 'I have no options available for you, there is something called Short Term Medical but I have chosen not to offer it to clients, you can search online for it if you like' I have no liability. I am not required to sell a specific product, as an independent agent I can offer whatever subset of plans I choose, right?

Nah....there's a gun held to your head, requiring you to sell what you don't like.

That makes perfect sense. I was just wondering how you handeled it, since I see it as a potential liability issue.

 

[taterpeeler]

Well....I disagree. I have sold it and will continue to sell it, properly explained.

Cuz that $3 commission makes all the difference.....

well that's good... tear your happy arse

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That makes perfect sense. I was just wondering how you handeled it, since I see it as a potential liability issue.

wait a moment... u see NOT offering stmm as a potential legal liability? You cant be that out of touch on this issue.... give me a break..... im done with this post and thread....

 

[INSUREGEEK]

So...I am calling you, begging for an option....and I am a fairly well-informed consumer......

yeah. you can tell me to beg off. That's OK. I do that in my business too - I tell people every day that I'm just not interested in doing the work they ask for. I also try to point them in some direction even if I can't give a personal endorsement.

I am grateful that I have a broker who helped me arrange something for the 19 year old independent in my employ. In my case, the kid had zero/nothing/nada. Did I waste $600 for 6 months of STM? Maybe. Maybe not. I spend thousands every month in insurance premiums on all sorts of things. It's not a zero sum game.

 

[FLM2]

So...I am calling you, begging for an option....and I am a fairly well-informed consumer......

yeah. you can tell me to beg off. That's OK. I do that in my business too - I tell people every day that I'm just not interested in doing the work they ask for. I also try to point them in some direction even if I can't give a personal endorsement.

I am grateful that I have a broker who helped me arrange something for the 19 year old independent in my employ. In my case, the kid had zero/nothing/nada. Did I waste $600 for 6 months of STM? Maybe. Maybe not. I spend thousands every month in insurance premiums on all sorts of things. It's not a zero sum game.

What you probably don't understand, because this is not your business, is that there is a finite chance that a major claim would not be paid by a STM regardless of whether the kid, as you say, has nada in his health history. Insurance companies have departments full of specialists whose only job is to deny these claims if at all possible.

Agents deal with potential liability every day when we represent our clients. Even though most of us carry Errors and Omissions insurance we are always in the position of being put out of business by a consumer claim that we misrepresented something to a client.

If that policy was $600 for 6 months, our commission would be about $100-it just isn't worth it for me and many other agents. If yours doesn't care, he doesn't care, that is up to him/her, we are just giving you our informed opinions.