Americo Eagle Premier
- Thread starter kuhn123
- Start date
- 847
I sold one last Wed. I had first wrote the client on Monumental for 17K @ 206/month. But once I was able to write the Eagle I withdrew the Monumental app due to the client smoking cigars and I had to write him as tobacco on the Monumental app.
I wasn't able to write him on the UP1 since he had diabetes & had a heart catheterization a few years ago. I increased his coverage to 22,250 for 205/month.
The PHI was pretty painless. Americo has a little worksheet that you fill out prior to the call with the client info, bene, payment, etc...
Once on the call the rep verifies the agent info and gets verbal authorization to record the call.
They prefer you to be on speaker phone with the client so you can assist the client if necessary. I wasn't able to do that since I was in a laundrymat that my client managed.
Once the rep gets verbal authorization from the agent and the client to record the call they then ask the agent for the client info. They will then verify the info with you. They then run MIB and Script check. Once that is done they ask the client the questions that you just asked them. I'm not sure if they deviated from the questions since I wasn't on speaker phone.
Once my client answered the questions I got the phone back. They then asked for the banking info. After that they then asked the client for verbal authorization to draft the account. Then I gave my agent statement and verbal signature, then the client gave his verbal signature.
After that I had a policy # and was told the policy was ISSUED!!!
Overall pretty straightforward. The Eagle series definitely has a nice niche that smokes the Monumental Standard rates.
- Thread starter
- #3
Thanks for the detailed rundown Pony. How long would you say the entire phone call was? I'm just envisioning this ridiculous monologue, similar to the UHL interview where I have to wake my client up after they're finished reading the disclosure.
I know Americo said it would take approx 10 min for the MIB and script check to come back, so I didn't know how that played into the entire duration of the call.Americo also mentioned their e-app that they're working on, where we will be able to run our own MIB and script check straight from the iPad, then issue or decline, with a policy number on the spot. That is something I would be very interested in. I hope the e-app is also available on the new Ultra Protector once those changes go into affect, but I'm not sure that will be the case.
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What is this products niche other than a paperless phone app?
The rates are higher on the Eagle Premier level vs. UP1
Trying to figure whats so "premier" about this product
Only thing I can gather is that TIA's and heart attacks etc go back 12 months like monumental instead of the 24 months on the UP1 app? 65 male NS 10k on eagle is $62.92
UP1 is $55.20
What gives?
The rates are higher on the Eagle Premier level vs. UP1
Trying to figure whats so "premier" about this product
Only thing I can gather is that TIA's and heart attacks etc go back 12 months like monumental instead of the 24 months on the UP1 app? 65 male NS 10k on eagle is $62.92
UP1 is $55.20
What gives?
- Thread starter
- #5
I'm still trying to nail the niche down also. The paperless aspect alone is not that enticing to me. I think the rate will be close to a wash considering the Eagle has an accidental death and common carrier automatically included.
I don't have the app in front of me, but when I checked it out their were some differences from the UP:
-No Parkinson's question
-2 yr cancer
-1 yr heart attack stroke
-Eliminated the "diabetes with a history of" question
The tobacco definition is the same which will always be a niche for the non cigarette users.
Paying for that "relaxed" underwriting.
Here is a comprehensive list of when you would use this product:
• You have a husband and wife deal where one of them is greater than 50 years old, but the other is between 40 and 50. (i only do telesales and Liberty is the only company who can cover someone less than 50 over the phone. This might not apply to you guys in the field.)
• You have a client who had a heart attack, stroke, bypass surgery, stent placement surgery, any kind of heart surgery or circulatory surgery that happened over 1 year ago but less than 2 years ago. You can get them instant coverage at a lesser rate than other carriers would on a modified plan, plus instant coverage.
• You have a client who has had treatment for cancer greater than 2 years ago, but less than 3 years ago. Just like above, you can get them instant coverage for a lesser rate than other carriers on modified.
• You have a client who uses a pipe or smokes cigars. They would be a tobacco user with nearly any other company. They would be non tobacco with Americo. (if you have access ultra protector, it might be appropriate to use that product unless these other circumstances are true.)
• You have a client who is currently receiving home health care or getting assisted with their daily activities of living, but NOT due to a chronic illness or debilitating condition. With most, they wouldn't qualify for anything.
also, the coverage is activated the moment you get the approval even if the draft is in the future. It comes with adr as well.
You wouldn't lead with this product but you can use it for certain situations and provide value to your client they wouldn't have access to elsewhere.
Btw, if you client has insurance now, prepare for an extra 10 mins of the most disgusting legal jargon known to man that will surely piss you and your client off.
• You have a husband and wife deal where one of them is greater than 50 years old, but the other is between 40 and 50. (i only do telesales and Liberty is the only company who can cover someone less than 50 over the phone. This might not apply to you guys in the field.)
• You have a client who had a heart attack, stroke, bypass surgery, stent placement surgery, any kind of heart surgery or circulatory surgery that happened over 1 year ago but less than 2 years ago. You can get them instant coverage at a lesser rate than other carriers would on a modified plan, plus instant coverage.
• You have a client who has had treatment for cancer greater than 2 years ago, but less than 3 years ago. Just like above, you can get them instant coverage for a lesser rate than other carriers on modified.
• You have a client who uses a pipe or smokes cigars. They would be a tobacco user with nearly any other company. They would be non tobacco with Americo. (if you have access ultra protector, it might be appropriate to use that product unless these other circumstances are true.)
• You have a client who is currently receiving home health care or getting assisted with their daily activities of living, but NOT due to a chronic illness or debilitating condition. With most, they wouldn't qualify for anything.
also, the coverage is activated the moment you get the approval even if the draft is in the future. It comes with adr as well.
You wouldn't lead with this product but you can use it for certain situations and provide value to your client they wouldn't have access to elsewhere.
Btw, if you client has insurance now, prepare for an extra 10 mins of the most disgusting legal jargon known to man that will surely piss you and your client off.
- 15,041
That isn't a bad product then.
Equitable's product previously had very relaxed underwriting. It was great for some of the high risk cases. Obviously the rates weren't great, but then again these people weren't getting level coverage from anyone else.
Unfortunately, not their underwriting is a lot tighter and the rates aren't all that hot when you consider all the other companies the prospect might qualify with.
- 1,011
Good stuff- thanks man
Having a 6 year old and listening to "Just what the fox said" 1,000 times a day will drive any man to thrust a #2 pencil in his ear canal... I can deal with 10 minutes of snore audio.. but thanks for the heads up tho'
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