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Reply to Professional Group Coverage (competition) ???     
Old 06-01-2017, 09:57 AM   #1
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Join Date: Sep 2016
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State: Mike Siegal is an Insurance Agent from Undisclosed Location
Professional Group Coverage (competition) ??? Professional Group Coverage (competition) ???
Hi friends,

I was talking to a friend who is a "retired" Physical Therapist and she claims she purchased a DI policy through a group that was 30% (or more) cheaper than an outside agent. Assuming that's true and this is your competition, how that works;
  • -Are there groups companies that write DI for specific professions?
  • -If so, how much cheaper are they and who can Join?
  • -What are the strengths/weaknesses of those "professional group policies?"

I do so appreciate any constructive input you can give and THANKS!



~M
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  Reply With Quote to Professional Group Coverage (competition) ???

Old 06-03-2017, 03:12 AM   #2
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State: Tahoe Ray is an Insurance Agent from Nevada
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Professional Group Coverage (competition) ???
Originally Posted by Mike Siegal View Post
Hi friends,

I was talking to a friend who is a "retired" Physical Therapist and she claims she purchased a DI policy through a group that was 30% (or more) cheaper than an outside agent. Assuming that's true and this is your competition, how that works;

[*]-Are there groups companies that write DI for specific professions?[*]-If so, how much cheaper are they and who can Join?[*]-What are the strengths/weaknesses of those "professional group policies?"


I do so appreciate any constructive input you can give and THANKS!

~M
Write Standard for Physical Therapists...their occ class is much higher than the competition.

I would be willing to bet that your client just got a Principal policy with a multi-life discount (not GSI).

Women get huge discounts on these policies because they are typically unisex.

I hope that this helps.
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  Reply With Quote to Professional Group Coverage (competition) ???
Old 06-03-2017, 10:42 AM   #3
Super Genius
 
Join Date: Sep 2016
Posts:125
State: Mike Siegal is an Insurance Agent from Undisclosed Location
Professional Group Coverage (competition) ??? Re: Professional Group Coverage (competition) ??? Mike Siegal is the thread starter for: Professional Group Coverage (competition) ???

Originally Posted by Tahoe Ray View Post
Write Standard for Physical Therapists...their occ class is much higher than the competition.

I would be willing to bet that your client just got a Principal policy with a multi-life discount (not GSI).

Women get huge discounts on these policies because they are typically unisex.

I hope that this helps.
Hi Ray,

question: You are saying that PT got a "individual plan" with a multi-life discount (insuring the family)? ----rather than a industry plan from a specialized provider?

Thanks Ray!
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  Reply With Quote to Professional Group Coverage (competition) ???
Old 06-03-2017, 11:12 AM   #4
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Join Date: Sep 2012
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State: Tahoe Ray is an Insurance Agent from Nevada
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Professional Group Coverage (competition) ???
Originally Posted by Mike Siegal View Post

Hi Ray,

question: You are saying that PT got a "individual plan" with a multi-life discount (insuring the family)? ----rather than a industry plan from a specialized provider?

Thanks Ray!
Several carries offer multi-life discounts where the only qualification is a common employer.

Typically you're looking at three people with the same company.

They are not group plans and are fully underwritten (possibly simplified if benefits are low enough) but allow for a discount plus unisex rates.

This is big for women...

----------

By the way, there are association discounts offered by carriers/agents who have relationships with various groups...
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  Reply With Quote to Professional Group Coverage (competition) ???
Reply to Professional Group Coverage (competition) ??? 

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