Great Western

[rousemark]

But it's some of the most liberal UW. You can get level with AIDS if your meds haven't changed in the past 2 years.

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Same here, 16 days.

Better read that again... It says have you been "prescribed medication for OR treated for.. HIV.. The fact you are taken medicine and seeing a doctor is normally considered treatment. It also asks if you have any disorder of the blood, kidney, lung, brain, heart, circulatory system, or liver. That is very vague and very broad.. It could include things as simple as anemia, asthma, or even high blood pressure (even though they say in most cases HBP will not be a knock out) When you go to the agent guide, it lists common conditions in each category they consider KO.. Many other companies take thee conditions standard.. Also, in every case they say it includes but is not limited to these conditions. It is really very strict underwriting.

 

[argar5]

Too much for my brain tonight everybody have a good evening

 

[goillini52]

Better read that again... It says have you been "prescribed medication for OR treated for.. HIV.. The fact you are taken medicine and seeing a doctor is normally considered treatment. It also asks if you have any disorder of the blood, kidney, lung, brain, heart, circulatory system, or liver. That is very vague and very broad.. It could include things as simple as anemia, asthma, or even high blood pressure (even though they say in most case HBP will not be a knock out)

But maintenance drugs aren't considered treatment. Of course if you talk to 2 different people, you get 2 different answers...but I called and asked. I was told that other than cancer and insulin dependent diabetes, if their meds haven't changed in 2 years it's a no answer in question 3.

Also in question 1., that's a combined total of 5 days in 2 years for hospice, hospital and nursing home. That's strict.

I just looked at the Field Manual, and it looks like the person I talked to was wrong about HIV, it would be GI. On pages 13 and 14 it covers what is in each category, such as: Liver Disorder - includes, but is not limited to(there's their out): Cirrhosis of the Liver, Hepatitis, Hepatoma. Also, I forgot oxygen use is GI.

 

[sirherbie]

I'm with Rouse on this.I've read the agent guide 3 times. When they list many of the ailments other co's take as preferred the agent guide is saying to write it Gi. Then others are saying if no increase in medication is level. With no Mib or Rx check this is a disaster waiting to happen as every clean sheeting agent on earth will be writing. The agent manual is very confusing and I think you're going to get a crap load of contestable claims as there's mass confusion on what is really acceptable for level.

 

[rousemark]

But maintenance drugs aren't considered treatment. Of course if you talk to 2 different people, you get 2 different answers...but I called and asked. I was told that other than cancer and insulin dependent diabetes, if their meds haven't changed in 2 years it's a no answer in question 3.

Also in question 1., that's a combined total of 5 days in 2 years for hospice, hospital and nursing home. That's strict.

If you have the agent guide, read pages 12, 13, and 14. If you don't have one, it is on FEXquotes

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I'm with Rouse on this.I've read the agent guide 3 times. When they list many of the ailments other co's take as preferred the agent guide is saying to write it Gi. Then others are saying if no increase in medication is level. With no Mib or Rx check this is a disaster waiting to happen as every clean sheeting agent on earth will be writing. The agent manual is very confusing and I think you're going to get a crap load of contestable claims as there's mass confusion on what is really acceptable for level.

If I were going to contract with them, it would be to write the GI and not fool with the Immediate benefit.

 

[Rearden]

I'm with Rouse on this.I've read the agent guide 3 times. When they list many of the ailments other co's take as preferred the agent guide is saying to write it Gi. Then others are saying if no increase in medication is level. With no Mib or Rx check this is a disaster waiting to happen as every clean sheeting agent on earth will be writing. The agent manual is very confusing and I think you're going to get a crap load of contestable claims as there's mass confusion on what is really acceptable for level.

Joey, I think you started post 5-Star Life Insurance.

While these carriers make averse decisions on insurability standards, they are also buoyed by a cadre of medical professionals and actuaries whose sole job is to number-crunch these risk factors and make professional suggestions as to how to design insurance products so as to both control risk and remain profitable.

My point is that these companies making seemingly scary decisions (trusting agents to field underwrite properly, implementing vague underwriting standards) most likely were warned by the number crunchers and medical advisors, and decided the flow of premium dollars outweighed the perceived risks.

Also remember that this product has some of the risk balanced out relative to other carriers (max six-month advance, full charge-back if lapsed within 90 days, $500 max dollar advance). Obviously, the designers see some risk with this product and put this stuff into place to try to control that.

Either way, considering all of the above, I see no reason as to ride the wave while it lasts. 5-Star had a too liberal product for several years and tightened up to where it is now.

 

[bboman23]

I'm with Rouse on this.I've read the agent guide 3 times. When they list many of the ailments other co's take as preferred the agent guide is saying to write it Gi. Then others are saying if no increase in medication is level. With no Mib or Rx check this is a disaster waiting to happen as every clean sheeting agent on earth will be writing. The agent manual is very confusing and I think you're going to get a crap load of contestable claims as there's mass confusion on what is really acceptable for level.

You focus all your time on companies rescinding policies. Just do what you think is right and be done with it. So what if it gets contested. How many of your clients die in the first 2 years?

I am in no way saying to lie on an app, but the time you spend talking about this is insane! You could deliver pizza and make enough money to cover the few contestible claims you'll get.

So I say this as respectfully as I can. .....either start your own company and make it how you want, or shut the hell up and go work!

 

[rousemark]

You focus all your time on companies rescinding policies. Just do what you think is right and be done with it. So what if it gets contested. How many of your clients die in the first 2 years?

I am in no way saying to lie on an app, but the time you spend talking about this is insane! You could deliver pizza and make enough money to cover the few contestible claims you'll get.

So I say this as respectfully as I can. .....either start your own company and make it how you want, or shut the hell up and go work!

You must not have ever seen agent sued by the insured's family over a contested claim. In the old days, they just sued the company.. not the case anymore.. They bring suit against everyone in sight. Hopefully you have E&O to cover any claim but you are going to have to pay the deductible out of pocket. And, win, loose or draw you have the time that is involved in preparation and being in court. We are talking about a bit more than pizza money.

I don't know how many I have written that have died within the first two years but I have had 3 that died within the first 2 weeks.. plus a couple of close calls.. Had one young man that was hit by a train about 6 hours after I took his application.. He was paralyzed for life. Had another on a motorcycle that left the house at the same time I did after I wrote him. He was on his way to the bank. I made one collection call and then on my way to the next I came upon a motorcycle accident. My newest insured was unconscious and lying in the middle of the street. A car had pulled out in front of him and he T-bone it on the bike. Threw him all the way across the roof of the car. Turned out he wasn't hurt very badly but I was already making preparations to file the death claim.

 

[bboman23]

You must not have ever seen agent sued by the insured's family over a contested claim. In the old days, they just sued the company.. not the case anymore.. They bring suit against everyone in sight. Hopefully you have E&O to cover any claim but you are going to have to pay the deductible out of pocket. And, win, loose or draw you have the time that is involved in preparation and being in court. We are talking about a bit more than pizza money.

If an agent doesn't have EO insurance I'm not sure how they can claim to be an agent. I do my field underwriting and document everything. But this dude spends hours criticizing every company app and how they will contest.

One of my brothers owns a roofing business making 750k per year. Yes he could fall off a roof and die, but that doesn't stop him from going to work.

My point is either shut up and go to work or get in another business. Yes anything could happen but do right for your clients and the chance of it happening to you is very rare!

This is not directed to you Rouse. I'm pretty sure you were the agent that wrote the first policy ever

 

[goillini52]

If you have the agent guide, read pages 12, 13, and 14. If you don't have one, it is on FEXquotes.

I edited my previous post after reading the manual for the 2nd time. I have the manual. I just got contracted with them a couple of days ago.