CIGNA Stand A Lone FE Product

[goillini52]

CIGNA's the latest entrant to the FE market. I don't see anything to get excited about. Haven't seen the app. They don't ask height/weight and offer a 5% spousal discount.





From: CSB_Field Communications [mailto:[email protected]]
Sent: Monday, February 16, 2015 11:33 AM
Subject: CSB FMOs: New Loyal American Individual Whole Life Product!











INDIVIDUAL WHOLE LIFE INSURANCE




Insured by Loyal American Life Insurance Company




AGENTS CAN SOON OFFER INDIVIDUAL WHOLE LIFE INSURANCE COVERAGE

Our new Individual Whole Life Insurance will be released beginning on March 2nd! Individual Whole Life offers solutions to help your customers to prepare for a wide range of necessities and provides meaningful benefits when they are needed most.

Individual Whole Life will be rolled out in phases as outlined in the box below.


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Phase 1
States: AL, CO, GA,IL, IN, KS, KY, MS, NV, NJ, OH, OK, PA, SC, TX, VA, WI, WV
Paper Release: 3/2/15
Express App Release: 3/25/15

Phase 2
States: AK, AR, HI, IA, ID, LA, MA, MD, ME, MI, MN, MO, NC, NE, NH, NM, OR, RI, TN, UT, VT, WA, WY
Paper Release: 4/1/15
Express App Release: 4/22/15





For ARLIC appointed agents: once they submit their first application for Individual Whole Life, we will automatically appoint them to Loyal American Life Insurance Company.



The Policy

Our Individual Whole Life policy offers coverage to individuals issue ages 50 through 85 in amounts of $2,000 to $25,000. Level or Modified Benefit coverage is a plan feature (eligibility is determined by the answers to underwriting questions in the application). A Terminal Illness Accelerated Benefit is included at no additional charge on all Level Benefit plans and an Accidental Death Benefit to Age 100 Rider is available as an additional option on either benefit plan. Plus, the policy accumulates a cash value, starting in the third year, that can be accessed by either a policy loan or cash surrender. Click here to learn more about policy coverage in the generic Individual Whole Life Insurance brochure. Click here for our comprehensive rate booklet.


Upcoming Individual Whole Life Product Training

Prepare for the upcoming release of our Individual Whole Life product by attending an upcoming webinar. By understanding the available riders, rates, and benefit features, you’ll be able to identify individuals who could benefit from this type of coverage.

All agents, both new and experienced, are invited to attend this webinar and are encouraged to ask questions. Become well-versed in our new Individual Whole Life product by attending one of the following sessions:


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Wednesday, February 25, 2015 @ 3:00 p.m. CST


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Wednesday, March 4, 2015 @ 10:00 a.m. CST


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Thursday, March 5, 2015 @ 3:00 p.m. CST


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Tuesday, March 17, 2015 @ 10:00 a.m. CST



Save the Date! Additional information including webinar login instructions will be sent next week.













Cigna

Together, all the way.







All Cigna products and services are provided exclusively by or through operating subsidiaries of Cigna Corporation, including Loyal American Life Insurance Company. The Cigna name, logo, and other Cigna marks are owned by Cigna Intellectual Property, Inc.
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LOYAL-4-0015- 2/2015








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[jdeasy]

I got a call froma marketer today about that. I don't remember what name she said but the caller ID was; NCC 865 area code

I didn't talk long. Told her I didn't need a new IMO and to put my number on their do not call list.

 

[goillini52]

I got a call froma marketer today about that. I don't remember what name she said but the caller ID was; NCC 865 area code

I didn't talk long. Told her I didn't need a new IMO and to put my number on their do not call list.

They're the one's I first heard about it from. I checked with someone I already use and went through them. I already had CIGNA and had to re-contract with Loyal. They seem a bit high, not as bad for smokers as they are for non-smokers. Don't know why the links to the brochure and rates didn't work after I pasted the post.

NCC is represented on here by Robin Rivers.

 

[pcbinsurance]

No Florida so that's one less phone call I'll get.

No height and weight question is always "exciting" though.

 

[TwiLight]

We turned them down last September to be one of their 10 IMO's they were looking for....

They are not a serious player in FE only a Dabler.... Their Pricing is middle of the road and Commission absolutely Sucks for the FMO, so by definition, so will the agents..... Underwriting will have MIB and RX check.

They are looking to grow slow at about $20m/year in business.... They developed this mostly as a cross sell to their FMO's that distribute their Med Supps and look at Aetna as their competition.

All I can say is that they are no AETNA.....

Give them a pass, only the unsuspecting Agent that thinks 100% is a deal with overpriced, MIB/RX and can get by with Name Recognition Alone will pick them.....

How did that work out for ING....VOYA.... or something..

Skipper

 

[goillini52]

We turned them down last September to be one of their 10 IMO's they were looking for....

They are not a serious player in FE only a Dabler.... Their Pricing is middle of the road and Commission absolutely Sucks for the FMO, so by definition, so will the agents..... Underwriting will have MIB and RX check.

They are looking to grow slow at about $20m/year in business.... They developed this mostly as a cross sell to their FMO's that distribute their Med Supps and look at Aetna as their competition.

All I can say is that they are no AETNA.....

Give them a pass, only the unsuspecting Agent that thinks 100% is a deal with overpriced, MIB/RX and can get by with Name Recognition Alone will pick them.....

How did that work out for ING....VOYA.... or something..

Skipper

The only reason I picked them up is to have another carrier that doesn't ask about height/weight, in case Aetna decides to change that next.

 

[senior-advisor-indiana]

Loyal was already in the FE market once before. The underwriting was easy and fast issue. Clients were pre approved if they bought a supp and a pre approval letter was sent with the policy. Those things were easy to sell. I still have a few on the books. Not sure why they pulled the product before.

 

[goillini52]

Loyal was already in the FE market once before. The underwriting was easy and fast issue. Clients were pre approved if they bought a supp and a pre approval letter was sent with the policy. Those things were easy to sell. I still have a few on the books. Not sure why they pulled the product before.

That had to be a while back, before 2008 when I first contracted with them. Was that before Great American bought them?

United American did the same thing with the letter with the Supplement purchase over 20 years ago. They didn't do it that long. Probably because they screen for different conditions for FE than for Supps.

 

[bboman23]

That had to be a while back, before 2008 when I first contracted with them. Was that before Great American bought them?

United American did the same thing with the letter with the Supplement purchase over 20 years ago. They didn't do it that long. Probably because they screen for different conditions for FE than for Supps.

I saw a bankers fidelity letter like this in a clients home last week. Pre approved for FE

 

[senior-advisor-indiana]

That had to be a while back, before 2008 when I first contracted with them. Was that before Great American bought them?

United American did the same thing with the letter with the Supplement purchase over 20 years ago. They didn't do it that long. Probably because they screen for different conditions for FE than for Supps.

It was around that time period...