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So what's the deal with the new Transamerica product?
- Thread starter tribetime32
- Start date
- 6,994
Who was it? @Newby that told the real story about AARP back in the day?
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60 Minutes told way before me. Read some of Andy Rooney’s books and talks about how he busted them when they were owned by Colonial Penn.
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I completed an in-depth review of Transamerica's new final expense product here if you'd like to learn more about underwriting advantages, and underwriting changes.
- 6,994
Nice write up Dave. And in text format, I like it.
I think you’re being too kind and you’re the first I’ve heard say they’re “pretty excited about” the changes.
It was always the combination of things they would take preferred and standard that excited me lol.
The pain med thing alone is going to throw a wrench in so many possible apps.
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Sure thing. I'm "cautiously optimistic" at this point. The pain med change... we shall see =).
I think the e-app will make up for the changes on some level.
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There is far better options than Transamerica now and most definitely next month
The webinar was a total joke yesterday. It was 20 min's long and they guy barely touched on the underwriting changes outside the height/weight chart dying it was "very liberal". He even said the cancer and cardiac was more lenient now . The paper app will be longer .The guy sounded very hesitant on what % of apps would be instant decisions. He said some could take "Hours" for approval or be referred to underwriting .There not taking current apps after Dec 7th and don't have any new apps yet. It looks like a cluster f***.
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- 3,994
20% instant decision to start, how are they easier on cancer?
Thats what the guy said on the webinar . He said they were easier on "cardiac and cancer ". He never went into detail on any underwriting issues outside the Ht/Wt table. He was mostly talking about the e-app. Also there going to run an MVR on everybody? That means we have to get a license #? None of the co's i write ask for that. I'm sure some of these clients have DUi's.
Chronic Pain – Defined as: Pain lasting more than 6 months or requiring 6 or more fills of narcotic pain prescription in any 12 month period.
Currently unemployed/disabled – Graded
Diagnosed with/treated for within 1 year – Graded Employed, no disability or treatment < 1 year – Preferred
I'm trying to understand the above. How i interpret is if the guy has filled Oxycotin or like more than 6 times in a yr and he's on direct express or a 3rd of month billing its automatically graded. But add in if he has copd or takes insulin or has Ms its a decline as 2 questions answered yes. Thats a crap load of our clients . What does diagnosed or treated within a yr mean? If he's started his pain meds in the last yr and they've been filled 6 or more times its graded? If he's employed and no disability or treatment in last yr its preferred?
Chronic Pain – Defined as: Pain lasting more than 6 months or requiring 6 or more fills of narcotic pain prescription in any 12 month period.
Currently unemployed/disabled – Graded
Diagnosed with/treated for within 1 year – Graded Employed, no disability or treatment < 1 year – Preferred
I'm trying to understand the above. How i interpret is if the guy has filled Oxycotin or like more than 6 times in a yr and he's on direct express or a 3rd of month billing its automatically graded. But add in if he has copd or takes insulin or has Ms its a decline as 2 questions answered yes. Thats a crap load of our clients . What does diagnosed or treated within a yr mean? If he's started his pain meds in the last yr and they've been filled 6 or more times its graded? If he's employed and no disability or treatment in last yr its preferred?
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