Great Western Underwriting

[HoosierLife]

So I got a letter from Great Western because my underwriting of their product was unacceptable. I read their underwriting guide and found out that they consider hypertension something that will bump from assurance to guaranteed issue. Give me a break… Not

 

[Baseball7]

Say what....? An acutal letter from them?

 

[HoosierLife]

Say what....? An acutal letter from them?

well it was an email with a PDF attachment of the letter

 

[Macker77]

Why anyone would get contracted with them is beyond me. Why you ask? Because if at any time the customer cancels or surrenders you the agent must pay back all commissions. It is a shame because they have some good products(i.e. gi, etc.).

 

[Baseball7]

How did this even come up? Seems like there has to be more to this kind of story. For what it is worth they don't release commission until the money has cleared from the first payment something I do like about this company.

 

[SammyJ]

All were warned not to write level with this company as the questions on the app leave room to contest the policy in the first 2 yrs.Who could be naive enough to think they won't take insulin level but they'll take Chf. On another note i've had several Gi claims and they paid very fast. The 9 month chargeback for Gi is nice.

 

[Rearden]

Why anyone would get contracted with them is beyond me. Why you ask? Because if at any time the customer cancels or surrenders you the agent must pay back all commissions. It is a shame because they have some good products(i.e. gi, etc.).

It's a 90-day chargeback provision on lapsed business.

Max advance is $500 in addition to a max advance percentage of 50%.

Additionally, Great Western will not take COPD as level.

 

[HoosierLife]

All were warned not to write level with this company as the questions on the app leave room to contest the policy in the first 2 yrs.Who could be naive enough to think they won't take insulin level but they'll take Chf. On another note i've had several Gi claims and they paid very fast. The 9 month chargeback for Gi is nice.

they are a quirky bunch. They won't take insulin or COPD or lisinopril for hypertension but they will take congestive heart failure and organ transplants??

 

[Macker77]

GW chargeback for surrenders or lapses is for the eternity. It could be 10 years down the line and if the customer cancels the policy you pay back all commissions. Horrible policy.

 

[Baseball7]

Is it fair to say you can question why any of these companies take some of the stuff they do? I've thrown some wild stuff at ultra protector 2 and it's stuck for example.