GTL Individual Health

[retread]

I do not know if that is true (I don't sell GTL), but I do know that you better check with your E&O carrier if it is. My policy, at least, requires me to use only A- or better carriers.

This is not the first time I have heard this kind of thing. I have scoured my E&O policy and see absolutely no reference to the required level of rating for the companies I am contracted with. I don't know who your E&O company is.

I called my E&O rep and had them confirm my reading of the policy regulations. They reported to me that the only time the policy did not cover me, is if the insurance company's policy I sell is in BK. This is the way I read it, too. This is reasonable.... I would in no way sell a policy to my customer from a company I knew to be financially unsound even if they were not in BK. (e.g. This is why I will not sell PTNA LTCi, although I would have E&O protection if I did. PTNA has been flirting with financial problems for the last several years but has not filed BK... yet! In my mind, LTCi PRESUMES long term viability.)

Perhaps when renewing your E&O, you should consider BCS of Oakbrook Terrace, Illinois. In today's economy, a company rated A- today could be B- tomorrow. If you have trouble sleeping at night because of this, here is a solution.

( For What It's Worth: BCS is rated A- by AM Best... at least today it is!)

 

[bill3173]

I have yet to find a reason to offer GTL, so the answer would be no. I have not had problems since I would not put a client in a product with a 2nd/3rd tier carrier.

I have had their appt. paperwork sitting on my desk, and then moved to my assistant's desk for several months, comtemplating the same thing.

You would definitely have to change your way of thinking. I want to make some comical remarks about slick hair and fast talking, but I'm going to steer clear.

 

[somarco]

comical remarks about slick hair and fast talking,

Slick hair yes.

But Michael Corleone is not what I would call a fast talker . . .

Sonny Wortzik, yes. But not Corleone.

 

[taterpeeler]

No, no - did you miss the thread?

Tom from "Insura-double-wide" (outside of Valdosta?) said that ANTEX was the nuts.

wow.. lol... does he require car tires on top of that trailer?

 

[the producer]

The producers alliance is offering a $10,000 reward if you can find a better policy then GTL....

 

[MHart]

The producers alliance is offering a $10,000 reward if you can find a better policy then GTL....

But they don't even marketed anymore their main product is now American Community. They pulled the plug because AHCP no longer does business with GTL.

 

[fostever]

The producers alliance is offering a $10,000 reward if you can find a better policy then GTL....

Healthagent started a thread on this recently. I met Mark Goldstein when I first considered Individual health. He recently cited a mid-year 25% rate increase with GTL in addition to their annual increases. The e-mail was titled "GTL sucks," so I'm not sure why he still has that challenge in place. He stated his agency would now be focusing on American Community and World which they were already contracted with.
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I have some clients on GTL and have had no complaints. I can say one thing, very horrid underwriting, service deductibles, and basic plan only has generic prescription coverage. I believe they just changed plans to offer brand name on the basic plans as an option. I'm in the process of writing an existing GTL client with a new carrier that will give him better coverage for less than he's going to pay once the annual increase kicks in.

 

[K-Dub]

I actually placed "1" policy with them a year ago which happened to be my sister. They just got a rate increase from $285 to $795...I learned my lesson on that one. Take them to a real carrier who actually has clients on their books.

 

[somarco]

Hey Kris -

Good to "see" you.

I understand you got a sweet deal and moved to WA. Good for you.

 

[K-Dub]

Yeah I got an offer from my old trade and had to take it. I still sell insurance on the side and probably always will.

I just got licensed in Oregon and am now working on getting licensed in Washington...which is kind of driving me crazy since I now have to take the Washington State test to get licensed here. ARGGGG!!!