Admiral Life Insurance Company is apparently a newly approved Medicare Supplement for Louisiana. My FMO sent me contracting paperwork last week. Extremely competitive premiums, and like United World, they will accept an insulin dependent diabetic if less than 50 units a day and no other major problems.
However, I couldn't find much on the internet about them. Does anyone here know anything about them?
I have never heard of them. I do know that a lot of carriers will go into a market with really low rates, then after a few years of rate increases they are middle of the pack. At that point, they are relying on the loyalty of seniors, or those who are too worried about change.
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I have never heard of them. I do know that a lot of carriers will go into a market with really low rates, then after a few years of rate increases they are middle of the pack. At that point, they are relying on the loyalty of seniors, or those who are too worried about change.
And others who cannot change due to health, which just makes it go up higher as healthier clients switch and fewer and fewer new clients enroll due to the increases.....
I just talked to a marketer today about admiral. It is the same price as united world, maybe a dollar difference. It is going to be reinsured by Mutual of Omaha. I don't understand that? The commiss is 21% though for 8 yrs. Sounds like a winner to me. It will have the same underwriting as sterlin investors I am told. It is a brand new company with no rating.
NO, I do not beleive this is a fraternal company. I did notice that the price changes from 65 to 66. ALot of companies have been giving the same rate for 65-67. Wow that site says UCT is the same price as united world. Much higher commission too.
NO, I do not beleive this is a fraternal company. I did notice that the price changes from 65 to 66. ALot of companies have been giving the same rate for 65-67. Wow that site says UCT is the same price as united world. Much higher commission too.
UCT of course is a fraternal company and their price changes from 65-66 as well. They have a very restrictive contract, attempting to bind the agent to the fullest extent of the law from ever replacing UCT business at any point in the future whether he wrote it or not. And this is even after you terminate your contract. (I have heard that Continental is very restrictive as well, but I haven't seen their contract.) However UCT's underwriting is stricter than United World and Admiral (both of whom will accept insulin dependent diabetics under some conditions) so hopefully they will be able to keep the rates down for a while.
I don't think fraternal companies have to have a rating, but many do. For example, Modern Woodmen is A+, I believe. The last time UCT was rated by A.M. Best it was C+, but that was 2004. They are reinsured by Gen re which is A++.
I dont know about United World. I have had their contract siting in my email for about a month now. I should get that in. They will probably stay lower longer than Admiral. I hope not but UW only got a 5% increase here this year.
I am a little ticked at Admiral though because they won't advance me on the 1st 2 policies I sent in because my FMO didn't send me the advance sheet. I don't see why they can't just advance it anyway. I am on advance now and I don't have any debts with any other companies.
I dont know about United World. I have had their contract siting in my email for about a month now. I should get that in. They will probably stay lower longer than Admiral. I hope not but UW only got a 5% increase here this year.
UW was 10% here this year. I have not had a case get to that point with them for a diabetic so I am not sure. I have been sitting on the Admiral contract for a while too, partly b/c it took my marketing org. forever to get the advance form to me.
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I am a little ticked at Admiral though because they won't advance me on the 1st 2 policies I sent in because my FMO didn't send me the advance sheet. I don't see why they can't just advance it anyway. I am on advance now and I don't have any debts with any other companies.
I would be surprised if any company would advance the commission under those circumstances unless maybe you had a long standing relationship with them. The same thing happened to me with a different carrier and MGA earlier this year. They said they don't include the advance form with the paperwork b/c agents have a tendency to sign everything and they complained later they wanted as earned. That explanation says a lot for the folks in this business.
Yeah, I don't read everything I sign either. So I can't blame them. But my FMO knew that I wanted the advance so I blame them some too. DO you think that UW's underwriting is pretty tough or no? HOw are you getting your current med supp business?
Yeah, I don't read everything I sign either. So I can't blame them. But my FMO knew that I wanted the advance so I blame them some too. DO you think that UW's underwriting is pretty tough or no? HOw are you getting your current med supp business?
I haven't placed that much business with UW, but judging from what I've seen on this board and elsewhere, (and someone correct me if I'm wrong) any company that accepts insulin dependent diabetics is pretty liberal when it comes to underwriting and it generally spells big rate increases in the future.
Didn't I see someone post here a few months ago that accepting insulin dependent diabetics was one factor that led to the big UTA increases over the past few years?
Admiral accepts insulin dependent diabetica but doesn't accept ANY diabetics if they also have high blood pressure. I think that is very strict underwriting.
Admiral
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