Do Many of You Sell Plan N?

[sman]

Haha I used to do this to my little brother and sister as a prank!

You must hate your siblings. :-)

 

[senior-advisor-indiana]

My wife actually put her info into a quote engine accidently(so she says).

 

[kstein]

My sister works with me now. She must have had a great agent from Mutual of Omaha work with her.

 

[somarco]

If only there was way to use that internet thing to get a quote.

Algore hasn't invented it yet.

 

[Gooner]

Yeah, but who wants to get rate cards from every company? If only there was way to use that internet thing to get a quote.

Someone should figure out how to do that.

Rick

Like i said jackass...I ain't touching her policy....I know how that interweb thingy works...didn't Al Gore invent it?

 

[tins]

How do you factor in the increase in issue age into the conversation. I have seen first hand that clients benefit from staying with the same company for long periods of time. For example, I have a number of clients with Plan E (Continental Life) that are 70-72 paying $180/month. Using that logic, would you suggest they switch to Stonebridge Plan N at $143/month?

I see the advantages both ways, your saving them money and getting a new commission stream but I would be that Stonebridge will have higher average increases than Continental over the next 3/4 years.

I guess I question the idea of rewriting clients to another plan for $100 when everything is working well with their current plan and it has some history behind it. Now when this person makes a jump, they are at age 72 instead of 65.

I don't see any problem replacing issue aged policies. If you can't save a person premium money because they are older and paying the rates of a much younger person...leave it be. If I am able to save them money, for equivalent coverage, I do it.
In my opinion, even more so if a person has a Plan E (or any pre-modernized plan) that has an aging population that may be more susceptible to higher rate increases. Also, past performance means little in terms of Med Supp increases. We have all seen the super stable companies go over the cliff with rate increases after years of being amongst the best priced plans in Missouri (think about Equitable and Bankers Fidelity in just the past 2 years that have raised rates, in Missouri, by over 50% after many years of stable low rates).
Lastly, since we're in Missouri and have the Missouri Anniversary Rule, I never worry about increases. We can shop our clients' plans each and every year and never worry about locking them into a plan due to health.