MoO Med Supps
- Thread starter navigator
- Start date
- 16,916
navigator said:
It's exactly as the questions on the application ask about. Pretty standard stuff.
The problem with MOO is the huge rate increase games they play. They attract the people who are super price sensitive and then they JACK them big time every time they get comfortable. It's a roller coaster ride for us agents.
- 111
MOO "in-house" have special privileges?
Don't sell much MOO. Their reputation makes me leery. Plus, United of Omaha was not low cost producer last several years.
Met with a client Saturday. He had requested MOO medigap info online. MOO mailed info to him. However, he had questions. Called me.
I answer questions. He decides wants MOO. But would rather work with me.
I complete remainder of the app he had started in pencil. I decide app is a mess. He has chicken scratches all over. No problem. I pull out a fresh app. Copy over info in minutes.
Get to premium page. He wants to be billed monthly. He does not want auto withdrawal. Info mailed from MOO says he can do this with a $2.00 monthly service charge.
Info I have from MOO says he can't pay monthly. If he wants to be billed ... he has to go for at least 3 months.
He doesn't want to cut a check for 3 months. Again, refuses electronic withdrawal.
I'm submitting under monthly billing (with $2.00 monthly fee). If MOO doesn't want him I'll move him somewhere else.
Any similar experience?
Don't sell much MOO. Their reputation makes me leery. Plus, United of Omaha was not low cost producer last several years.
Met with a client Saturday. He had requested MOO medigap info online. MOO mailed info to him. However, he had questions. Called me.
I answer questions. He decides wants MOO. But would rather work with me.
I complete remainder of the app he had started in pencil. I decide app is a mess. He has chicken scratches all over. No problem. I pull out a fresh app. Copy over info in minutes.
Get to premium page. He wants to be billed monthly. He does not want auto withdrawal. Info mailed from MOO says he can do this with a $2.00 monthly service charge.
Info I have from MOO says he can't pay monthly. If he wants to be billed ... he has to go for at least 3 months.
He doesn't want to cut a check for 3 months. Again, refuses electronic withdrawal.
I'm submitting under monthly billing (with $2.00 monthly fee). If MOO doesn't want him I'll move him somewhere else.
Any similar experience?
- 19,035
MoO will bill monthly even when the agent writes it. They don't want you to do it that way and they don't want you to know that they will do that. I found out when I had clients call into MoO themselves and take it off bank draft.
They will only pay the agent as earned when it's direct monthly bill. I'm as earned with them anyway so I didn't care about that.
G
Guest
Guest
We (my agency) hasn't sold MoO unless absolutely necessary (meaning, the client just doesn't get it) because they have major red flags.
A.M. Best Revised their outlook to negative for Mutual of Omaha Insurance Company and Its Subsidiaries (12-19-2011)
Harry Reid asked HHS to get involved regarding their "bait and switch" in 2010.
I can go on but do your clients a favor and sell something else (directed toward the original poster),unless you want pissed off clients who are killed on a rate increase in month 13 and then stuck on MoO because they came in GI with conditions and can't switch.
A.M. Best Revised their outlook to negative for Mutual of Omaha Insurance Company and Its Subsidiaries (12-19-2011)
Harry Reid asked HHS to get involved regarding their "bait and switch" in 2010.
I can go on but do your clients a favor and sell something else (directed toward the original poster),unless you want pissed off clients who are killed on a rate increase in month 13 and then stuck on MoO because they came in GI with conditions and can't switch.
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