Do premiums decrease for someone whose health improves?

[Allen Trent]

And being the pivot man.

I am 100% sure I don't know what that means & even more certain I don't want you to tell me or send me pictures to explain it

 

[Tahoe Ray]

You can often get tobacco surcharges dropped if they do an oral swab and satisfy the time period for not smoking.

I can often still rewrite that person without an exam, for a similar or better rate (since the better tobacco carriers aren't always the same as the NT carriers), and get paid again as an alternative.

I like my strategy better.

 

[Tahoe Ray]

If the policy was rated for health, you can apply for removal of the rating without having to rewrite the original policy.

It's often new underwriting for most carriers so why not rewrite (assuming that you have a more competitive carrier)?

With traditional life, the best rated carrier may not be the same as the best non-rated one.

Banner and AIG rate off standard plus so they're going to look great on rated cases but other carriers can still beat them on standard or better cases.

If you can improve the client's situation (less premium vs. a rating removal), you're better off just using a new carrier and getting paid again.

 

[rousemark]

It's often new underwriting for most carriers so why not rewrite (assuming that you have a more competitive carrier)?

With traditional life, the best rated carrier may not be the same as the best non-rated one.

Banner and AIG rate off standard plus so they're going to look great on rated cases but other carriers can still beat them on standard or better cases.

If you can improve the client's situation (less premium vs. a rating removal), you're better off just using a new carrier and getting paid again.

The reason not to rewrite is the premium will be based on original issue age and the values in the policy will remain. If you rewrite the policy begins anew.

 

[Allen Trent]

It's often new underwriting for most carriers so why not rewrite (assuming that you have a more competitive carrier)?

With traditional life, the best rated carrier may not be the same as the best non-rated one.

Banner and AIG rate off standard plus so they're going to look great on rated cases but other carriers can still beat them on standard or better cases.

If you can improve the client's situation (less premium vs. a rating removal), you're better off just using a new carrier and getting paid again.

Older age, 2 year contestibility. But, if the new policy can be a better total rate & duration than getting the rating removed, then it definitely makes sense. But, it would be easy to make a new company non tabacco rate look better than current carrier tobacco....but that isn't exactly a fair comparison

 

[rousemark]

Older age, 2 year contestibility. But, if the new policy can be a better total rate & duration than getting the rating removed, then it definitely makes sense. But, it would be easy to make a new company non tabacco rate look better than current carrier tobacco....but that isn't exactly a fair comparison

think in this case, it is kind of a moot point. I think if you are ever diagnosed with type 2 diabetes you always have type 2 diabetes. The only thing that would be changed is you are controlling it with diet instead of with meds.

 

[Tahoe Ray]

The reason not to rewrite is the premium will be based on original issue age and the values in the policy will remain. If you rewrite the policy begins anew.

Understood. But like I said, I'm only doing that if I can improve their situation.

Older age, 2 year contestibility. But, if the new policy can be a better total rate & duration than getting the rating removed, then it definitely makes sense. But, it would be easy to make a new company non tabacco rate look better than current carrier tobacco....but that isn't exactly a fair comparison

I'm talking about non tobacco of the original tobacco carrier vs. a new carrier. I write a lot of business in NY so replacements have to be well documented and in the client's best interest or they won't even be approved in the first place.

think in this case, it is kind of a moot point. I think if you are ever diagnosed with type 2 diabetes you always have type 2 diabetes. The only thing that would be changed is you are controlling it with diet instead of with meds.

Agreed. Although a 7 a1c newly diagnosed vs a 5.8 and controlled are going to be two different scenarios.

 

[jdeasy]

You can often get tobacco surcharges dropped if they do an oral swab and satisfy the time period for not smoking.

Yes, many companies will reduce rates if they quit smoking. Rules are all over the place. Some require an HOS or paramed. Some will just use a signed affidavit. Some just won't change it.