Thoughts on Washington National

1reason

Super Genius
121
Wisconsin
I met with Washington National today. The Cancer product with return of premium is interesting. I'm advised a business can pay for a policy with pre-tax dollars and the benefit is taken as post-tax. That appears to be a very strong selling point to small businesses (so I'm intrigued). It appears the premium return happens on year 25, which according to the manager makes the product stick.

They have other products (although they said group is sold in-house, which was a bummer as I focus on commercial).

The commission was "ok" (management is where's it's at), but I would like to know what products effectively compete with it, how hard it is to receive a benefit and anything else that may be useful in deciding if I want to enlist.

Thanks
 
I met with Washington National today. The Cancer product with return of premium is interesting. I'm advised a business can pay for a policy with pre-tax dollars and the benefit is taken as post-tax. That appears to be a very strong selling point to small businesses (so I'm intrigued). It appears the premium return happens on year 25, which according to the manager makes the product stick.

They have other products (although they said group is sold in-house, which was a bummer as I focus on commercial).

The commission was "ok" (management is where's it's at), but I would like to know what products effectively compete with it, how hard it is to receive a benefit and anything else that may be useful in deciding if I want to enlist.

Thanks

Rousemark seems to like them and their cancer policy.
 
l Iike their product line, but had a death claim on a lump sum Heart Attack plan, took about 8-10 weeks to settle, and info was virtually impossible to get from them. I could only get the "Mushroom Treatment". There were issues as to beneficiary, as this was a death claim that normally would have paid to the insured had they survived the heart attack but I never could find out the problem or issue, or even if there was one, until they finally paid the claim. Then the only info I got was through the family. I never really got any sort of explanation or straight answer from the company. I had begun to think they were going to deny a clear cut case of myocardial infarction on a policy that was over 2 years old ! I was almost feeling bad for having to file a claim !

This put a bad taste in my mouth. Some simple feedback would have gone a long way.

Also, they do a very poor job of notification on possible pending lapses. You have to dig through your statements to get any status.

I did, however, learn a valuable lesson about questioning estate wishes and whether an "ex"is truly an ex, or simply residing elsewhere! Also, always get beneficiaries spelled out, don't go with "estate":nah::embarrassed:
 
I met with Washington National today. The Cancer product with return of premium is interesting. I'm advised a business can pay for a policy with pre-tax dollars and the benefit is taken as post-tax. That appears to be a very strong selling point to small businesses (so I'm intrigued). It appears the premium return happens on year 25, which according to the manager makes the product stick.

They have other products (although they said group is sold in-house, which was a bummer as I focus on commercial).

The commission was "ok" (management is where's it's at), but I would like to know what products effectively compete with it, how hard it is to receive a benefit and anything else that may be useful in deciding if I want to enlist.

Thanks

That is a long time to wait for a business to get their premiums back. Ask a business owner where that business will be in 10 years and 9 times out of 10 they dont know... hopefully bigger and better is the usual answer...

Does the ROP kick in if it is cancelled? If so that isnt bad...

And most any supp benefit can be paid pre-tax if they want to through a sec 125 plan. I dont have any experience with that carrier though. Guardian has some excellent supp benefit plans right now.
 
Thanks for the replies.

I want to sell (or at least know more), but after talking to the state chief, it appears they only take captive agents.
 
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